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philanthropy (noun):

1: goodwill to fellow members of the human race especially, active effort to promote human welfare
2a: an act or gift done or made for humanitarian purposes
b: an organization distributing or supported by funds set aside for humanitarian purposes

Source : Merriam -Webster

Etymology : The Greek root of philanthropy may be literally translated as "loving people." The English word can refer to general goodwill to one's fellow people, as well as to the active effort to promote the welfare of people, but in modern use it is most often used to refer specifically to the practice of giving money and time to help make life better for others. A person who practices philanthropy is called a philanthropist; the term philanthrope was formerly used with the same meaning, but it is now considered archaic.

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