The Power of Philanthropy to Transform Societies

Selfless help drives significant changes and nurtures community fabric. In the last decade, the Social Work of the CECA sector, composed of various foundations and credit institutions, has invested 7.8 billion euros in activities aimed at 31 million beneficiaries.

Philanthropy: “love for humankind.” This is how the Royal Spanish Academy defines a concept associated with generosity without compensation, giving something without expecting anything in return. Only in Europe, the assets of public utility foundations exceed 647 billion euros and the sector encompasses 186,000 non-profit organizations, according to the reference organization Philea. Therefore, philanthropy moves a crucial part of the world. And it is one of the ingredients, sometimes lesser-known, of the welfare state. Some of the world’s major donors include well-known names such as Bill Gates, the founder of Microsoft, or financiers Warren Buffett and George Soros. In Spain, prominent figures include Elena Foster, Marta Ortega, Carmen Thyssen, and Juan Roig. Their mission: to find causes in which to invest resources and efforts for the advancement of humanity.

What issues does philanthropy address? Historically, the sector has tackled major concerns of general interest, such as health, education, the environment, culture, and international cooperation. Challenges that today, perhaps more than ever, have names and surnames: climate change, the fight against inequality, the right to housing, digitalization, the defense of democracy against reactionary waves, universal access to education…

Given the magnitude of the problems that philanthropists undertake, this practice has always been supported by public-private collaboration. There are four main actors in this relationship: states, the private sector, NGOs, and foundations. Therefore, the actions promoted by philanthropists and the various institutions they rely on go hand in hand and often share a common motivation: solidarity as a driving force to build a better future.

Contribution to the Economy in Spain

This happens especially in Spain, where the impact of the philanthropic sector was 27 billion euros in 2020, close to 2.4% of GDP, according to a report by the Spanish Association of Foundations prepared by AFI. Magnitudes that demonstrate a strong contribution from foundations to the economy, although the value goes beyond mere economics: around these investments, the educational fabric, cultural creation networks, talent promotion, or research and technological innovation are strengthened. As committed agents to social cohesion and the fight against inequality, philanthropists are also among the best allies for establishing public-private links.

In this context of public-private collaboration, the CECA sector – which represents the credit entities CaixaBank, Kutxabank, Cajasur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença, and Cecabank – works to demonstrate the transcendental capacity of philanthropy to improve people’s lives and transform their environment. Together with more than 30 philanthropic and socially oriented foundations, the CECA sector is consolidating itself as the largest private social investor in Spain, with an investment in the last decade of 7.8 billion, allocated to 930,000 activities that on average reached 31 million beneficiaries per year.

A vital contribution considering the complicated global situation of recent years, in which a pandemic, a climate crisis, and several armed conflicts have marked the pulse of humanity. In the face of such situations, the Social Work of the CECA entities has launched support programs aimed at those citizens who need it most, such as the senior collective, people at risk of social exclusion, or the inhabitants of the emptied Spain.

Actions for which the Social Work of CECA is now considered one of the main agents in promoting social inclusion. A task that progresses thanks to the entities and human teams that continue to professionalize and train to adapt to the social circumstances of this time. And without losing that philanthropic commitment, that love for humankind, with the world they belong to.