We give from the heart and we give because it makes us feel good. In fact medical tests have shown that giving gives us the same gratification as food or sex, which is particularly good news for those of us constantly dieting! A philanthropist is anyone who gives time, money, experience or skills to create a better world. The word itself derives from the Greek philanthropus: which translates as “love of humankind”.Billions of dollars are spent on philanthropy and the way they are being spent is changing rapidly, says Katherine Fulton, president of the Monitor Group, who works with today’s most imaginative entrepreneurial businesses.“The new future of philanthropy is one where collaboration and innovation allow regular people to do big things, even when money is scarce,” she believes.The great news is we don’t have to be Bill Gates or Warren Buffett, we are all philanthropists and without us, they wouldn’t be able to do what they do.Many are familiar with Project RED cofounded by U2 front man Bono. It’s a spectacularly simple, yet powerful idea to get partner companies to create a product with the Project Red logo. In return for the opportunity to increase its own revenue through sales of the Red product, a percentage is given to the Global Fund to fight AIDS, tuberculosis and malaria in Africa. Apple released five generations of special edition Red iPods, a Red iTunes Gift Card and a Red Smart Cover for the iPad 2.Apple, Nike, Starbucks, Converse, Gap, Emporio Armani, and Hallmark are just some of the prestigious companies that have generated $170 million for the Fund by 2011. Plenty of choice for the socially conscious consumer and lots of beautiful products to feel good about purchasing!The Livestrong band, selling at just $1, quickly became a fashion statement although it was intended to increase cancer awareness and to encourage people to live life to the fullest. Eighty million bands have been sold and the concept replicated to promote charities and political campaigns. The Lance Armstrong Foundation, which created the yellow plastic band, has donated more than $245 million to cancer research since its inception in 1997.Big business is on board. The luxury brand Bvlgari epitomising precious jewels, distinctive design and exquisite glamour partnered with Save the Children to produce an exclusive ring. Introduced in 2009 to mark their 125th anniversary, the exclusive brand enlisted celebrities such as Leighton Meester and Isabella Rossellini to promote it.Over 12 million Euros have been raised and Save the Children projects in Haiti, South America, Europe, Asia and Africa have been funded. “Bvlgari believes that a quality education is the first step to securing a brighter future for the world’s most vulnerable children” says Francesco Trapani, CEO of Bvlgari who travelled to Haiti in 2010 with Ben Stiller to visit a school they had funded.The French luxury cosmetics brand Clarins is another example of business philanthropy in action. “Clarins has always aimed to create a more beautiful future,” says their website “Loyal to humanitarian values, Clarins is pleased to be working with FEED projects to help fight hunger worldwide. Founded in 2007 by Lauren Bush, FEED has raised over $6 million and distributed over 60 million meals to hungry children across the globe.”In quite a different yet still invaluable vein, the Italian luxury shoe brand Tod’s has committed to the complete restoration of one of the world’s most famous landmarks, the Coliseum. At a proposed investment of 25 million euros, president Diego Della Valle said: “We believe that because the Tod’s Group is a strong global representative of ‘Made in Italy’, it is both an honour and our duty to contribute to the support of our country’s image and credibility, as well as its cultural heritage.”These are just a few examples of companies that believe in using their brand power to give back and the business benefits are not lost on them. So if you are thinking about switching out some of your marketing budget for philanthropy, the improved brand value, connectedness with employees and customers can be immense. As consumers, how we spend can also hugely benefit the wider world whilst nourishing our souls like a good Christmas dinner.“When the story of these times gets written, we want it to say that we did all we could, and it was more than anyone could have imagined.” BonoSomething to read: “Giving 2.0 Transform Your Giving and Our World ” by Laura Arrillaga-Andreessen, Founder of Silicon Valley Social Venture Fund.Something to watch: Jacqueline Novogratz on Patient Capitalism. http://www.ted.com/talks/jacqueline_novogratz_on_patient_capitalism.htmlThis article was written by Lois Wilson. It does not necessarily reflect the opinion of The Royal Gazette