Philanthropy is supposed to support humanitarian causes. When it comes to donating to educational institutions, funding isn't going to the most needy areas. There's a lot of money going toward higher education and very little going to public K-12 schools, especially the most disadvantaged ones.
More specifically, top-ranking public and private colleges and universities receive most of the donations to education. In general, colleges and universities don't need that much money. If any colleges need more money, it's community colleges. When all kinds of funding go to a few elite schools, this mostly just perpetuates inequality. For instance, someone graduates from an Ivy League school and becomes a billionaire. Then, they donate back to the same institution, and a couple more to-be billionaires are produced.
If things with AI go the way experts are predicting, several types of degrees aren't going to be very desirable. Right now we need medical professionals and trade workers. Higher education needs to expand their capacities for needed types of education, cut back in other areas and stop selling so many people on degrees they can't use.
What little philanthropy goes to public K-12 schools, most of it goes toward shaping policies, classroom supplies, technology, and activities. Public education teachers need better pay. Poor and rural school districts definitely need way more funding. Literacy in general, for public education students, is declining. Better funding in these ways would reduce inequality and boost upward mobility and productivity.
As far as philanthropy toward education goes, regulations could require that for every dollar given to higher education foundations or institutions, the donor (whether it's a foundation or individual) is required to match it with one toward public K-12 schools. The funds could be applied across the board on an equal per-student basis or go toward the more needy institutions. A special foundation would need to be developed to deal with this.
The price of higher education is already inflated. So, instead of diverting funding to a handful of elite schools, the funds could be used to bring up the lower classes, pay teachers what they deserve, and achieve a more educated society.
