NYC Exec Daniel Neiditch Discusses How Philanthropy and Entrepreneurship Go Hand in Hand
Daniel Neiditch, President of River 2 River Realty, explores the important connection between philanthropy and business.
If the past few decades have taught us anything, it’s that social consciousness is an increasingly relevant consideration for the business world. Specifically, entrepreneurs must now balance their day-to-day leadership responsibilities with a growing call for corporate philanthropic engagement — both within their respective communities and abroad. Today’s entrepreneurs can leverage their position to benefit society’s most vulnerable demographics and causes — and that urgency only grows by the year.
This notion is all-to-familiar for New York-based entrepreneur Daniel Neiditch, who, as the President of River 2 River Realty, has used his countless professional connections to help those in need.
“Philanthropy-focused entrepreneurship is more important than ever,” Neiditch said. “People want to do business with companies that share similar values and give back to their communities.”
By forging fruitful charitable relationships, Neiditch has amassed a portfolio of philanthropic engagements that have helped fields like education, community-building, youth development, and healthcare. Notably, Neiditch has used his entrepreneurial standing to fight homelessness and aid disadvantaged children living in the Bronx, his native borough.
“The most vital lesson I’ve learned as an entrepreneur and a philanthropist is that there is always more to do, give, help, and support,” Neiditch said.
Neiditch believes that philanthropy is not just a supplementary part of entrepreneurship. Rather, he feels that such activity is a fundamental part of business leadership, one that naturally expands upon other foundational business tenets and intentions.
“Entrepreneurship and philanthropy go hand-in-hand from the first steps of building a company,” Neiditch said. “Entrepreneurs that are creating businesses today are usually looking to solve a problem. The very backbone of their company is already helping other people. Therefore, it is natural for these same entrepreneurs to continue to look for ways to help others through philanthropy.”
Neiditch’s insights reflect a rising trend in US business; Fidelity Charitable’s 2018 Entrepreneurs as Philanthropists Report found that entrepreneurs’ median charitable giving was 50 percent higher than that of non-entrepreneurs. What’s more, amidst the COVID-19 pandemic and a myriad of social and environmental issues, this giving has only increased to match growing demand, with donors looking for new philanthropic strategies and sophisticated ways to become involved.
Newer entrepreneurs, in particular, will play a huge part in maintaining COVID-era philanthropy spikes. As noted in a 2022 Forbes article on modern philanthropy trends, “The Millennial generation is now between the ages of 25 and 40, and they’re bringing a fresh perspective to giving back; they are empowered to make the world a better place, and [they] approach everyday decisions — like where to work, what products to buy, and where to invest their savings — through a charitable lens.”
“Trends that I have seen more recently in philanthropic giving from entrepreneurs are recurring giving … and a larger push from younger generations,” Neiditch said. “These optimistic trends will greatly impact communities for a positive future.”
For these up-and-coming philanthropic entrepreneurs, Neiditch recommends making philanthropy a centerpiece of one’s leadership from the get-go, embedding such ideology in company culture and partnership building. Meanwhile, the next generation’s leaders should remember to stay hungry, innovative, and considerate of issues and trends beyond themselves.
“My advice would be to lead with a positive position for philanthropy because it helps build relationships with communities, clients, and businesses,” Neiditch said. “I encourage my friends and peers in the industry to always continue to look for more ways to give back.”