Charity is not a modern phenomenon by any means, but has an abundant and progressing history that stretches over two thousands years.
One might, when one hears the word philanthropy, immediately consider a handful of famous philanthropists who are well known for distributing their fortunes to causes that they care about. This is something that has held true for lots of thousands of years, with the very first recorded instance of institutionalised philanthropy, in addition to the inception of the philanthropy meaning and word, taking place over 2 thousand years ago in ancient Greece. During this period, the word indicated something more comparable to 'caring of one's fellow man', or humanism, than the restrictions of wealth one might apply to the term now, however nonetheless rich individuals played an important charity role in the culture. Wealthy people were expected to give back to the community, assisting to install the money for repair work to public works like city walls or temples along with financing festivals and other public celebrations. Being stingy was not looked upon well, and if a wealthy person was not seen to be a philanthropist, they could be ostracised from the community entirely.
Several entities have actually been accountable for charity work throughout the ages. Although rich people and celebrity philanthropists might be viewed as the central charitable force in the modern world, that is not necessarily entirely true, nor has it been for much of history. In the middle ages, it was religious institutions like the church that would have been the main charitable hubs, both within the community and on larger level ventures. That changed with the coming of industry when wealthy individuals became more powerful, and then shifted again towards the end of the nineteenth century when foundations began to spring up that were better organised and could devote more attention to getting things done. This is much the same manner in which charity is structured nowadays, whether those foundations are built by grassroots groups, rich people, or firms like SJP.
The manner in which charity has actually been funded has changed a good deal throughout the course of human history, moving between different entities which hold the most power and wealth, just as the focus of charity work has altered as various requirements have actually emerged. Nowadays, there are a great many concerns that need to be attended to, from rising inequality to the environment crisis, and charity will inevitably play an essential role in that process. Wealthy people with savings account that would make a middle ages kings blush have their part to play, however so do the businesses that are the central hubs of financial generation in the twenty-first century through things like corporate philanthropy. Whether that is establishing a foundation of their own or developing ESG commitments, companies like Morgan Stanley and Vanguard Group are starting to do so.