They're a growing method of giving, but they're not without critics.
Donations to higher ed reached $33.8 billion in 2013.
And what are they giving to?
Recognition and peer pressure can motivate some. But donors — and fundraisers — say most people don't give millions unless they really care about the cause.
Warren Buffett's son Peter and his wife Jennifer wife talk about their ideas on philanthropy.
Philanthropists say they can take risks that government just can't — which helps them tackle the root causes of big problems.
Each year, Americans give away billions of dollars. Some of those donations, particularly the large ones, come in for criticism.
One philanthropist passes on lessons she's learned, including the risks of "following your passion" without doing your homework
The tax break for charitable deductions reflects American attitudes about government, and about the best way to help others.
There are some 80,000 private charitable foundations operating in the U.S. today, and you don't have to be crazy rich to launch a one.
