chapter  1
Philanthropic foundations in modern society
ByHELMUT K . ANHEIER AND SIOBHAN DALY
Pages 24

Philanthropic foundations are typically discussed in terms of the contributions they make to charity, research, culture and the arts, health care, humanitarian assistance and other worthy causes. They are also recognized for their role in bestowing public recognition for artistic, scholarly, altruistic and other forms of excellence. Their function, therefore, is to allocate, on a voluntary basis, private resources for public benefit and status.