Charity is not a contemporary phenomenon by any means, but has a rich and evolving history that extends over 2 thousands years.
One might, when one hears the word philanthropy, immediately think of a handful of famous philanthropists who are well known for giving away their fortunes to causes that they appreciate. This is something that has been the case for lots of thousands of years, with the first recorded example of institutionalised philanthropy, in addition to the origin of the philanthropy meaning and word, taking place over 2 thousand years back in ancient Greece. During this duration, the word implied something more akin to 'caring of one's fellow person', or humanism, than the constraints of wealth one may apply to the term these days, but nonetheless wealthy individuals played a crucial charity role in the culture. Wealthy people were expected to give back to the society, helping to put up the money for repairs to public works like city walls or temples along with financing celebrations and other public celebrations. Being pinchpenny was not looked upon well, and if a wealthy individual was not seen to be a philanthropist, they could be ostracised from the society altogether.
Several entities have been responsible for charity work throughout the ages. Although wealthy people and celebrity philanthropists may be seen as the main charitable force in the modern world, that is not always entirely correct, nor has it been for much of history. In the middle ages, it was spiritual organizations like the church that would have been the primary charitable centers, both within the town and on larger level projects. That changed with the coming of industry when wealthy people became more powerful, and after that shifted again towards the end of the 19th century when foundations began to spring up that were much better organised and could dedicate more attention to getting things done. This is much the same manner in which charity is structured these days, whether those foundations are built by grassroots groups, wealthy people, or companies like SJP.
The manner in which charity has actually been funded has actually changed a great deal throughout the course of human history, moving in between different entities which hold the most power and wealth, just as the focus of charity work has altered as different needs have actually emerged. Nowadays, there are a great many issues that need to be resolved, from increasing inequality to the environment crisis, and charity will undoubtedly play an important part in that procedure. Wealthy individuals with savings account that would make a medieval kings blush have their part to play, but so do the businesses that are the main hubs of financial generation in the 21st century through things like corporate philanthropy. Whether that is establishing a foundation of their own or establishing ESG commitments, businesses like Morgan Stanley and Vanguard Group are starting to do so.