Philanthropy 

consists of "private initiatives, for the public good,

focusing on quality of life". Philanthropy contrasts with business
initiatives, which are private initiatives for private good, focusing on
material gain; and with government endeavors, which are public
initiatives for public good, e.g., focusing on provision of public services.
[1] A person who practices philanthropy is a philanthropist.
Philanthropy is different from charity, though there is some overlap.
Charity aims to relieve the pain of a particular social problem, whereas
philanthropy attempts to address the root cause of the problem.[2][3][4][5]