Philanthropic entities that go the traditional way of helping the needy might just focus on raising funds for a certain advocacy and allocating it to various projects and programs in the form of gifts, scholarships and grants.
However, new philanthropic initiatives are setting the latest trend of getting more involved with the communities they serve. While fundraising is good-intentioned, volunteering and performing services for the welfare of community members can make a philanthropic initiative a success.
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.