of organizations that sought to improve the housing conditions of the working classes by building new homes for them, at the same time receiving a competitive rate of return on any investment. This was one of the first housing associations, a philanthropic endeavour that flourished in the second half of the nineteenth century brought about by the growth of the middle class. Later associations included the Peabody Trust (originating in 1862) and the Guinness Trust (founded in 1890). The principle of philanthropic intention with capitalist return was given the label "five per cent philanthropy". There was strong growth in municipal charities. The Brougham Commission led on to the Municipal Corporations Act 1835, which reorganized multiple local charities by incorporating them into single entities under supervision from local government. Charities at the time, including the Charity Organization Society (established in 1869) tended to discriminate between the "deserving poor" who would be provided with suitable relief and the "underserving" or "improvident poor" who were regarded as the cause of their own woes through their idleness. Charities tended to oppose the provision of welfare by the state, due to the perceived demoralizing effect. Although minimal state involvement was the dominant philosophy of the period, there was still significant government involvement in the shape of statutory regulation and even limited funding. Philanthropy became a very fashionable activity among the expanding middle classes in Britain and America. Octavia Hill (1838-1912) and John Ruskin (1819-1900) were an important force behind the development of social housing, and Andrew Carnegie (1835-1919) exemplified the large-scale philanthropy of the newly rich in industrialized America. In Gospel of Wealth (1889), Carnegie wrote about the responsibilities of great wealth and the importance of social justice. He established public libraries throughout the English-speaking countries as well as contributing large sums to schools and universities. A little over ten years after his retirement, Carnegie had given away over 90% of his fortune. Towards the end of the 19th century, with the advent of the New Liberalism and the innovative work of Charles Booth on documenting working-class life in London, attitudes towards poverty began to change, which led to the first social liberalwelfare reforms, including the provision of old age pensions and free school-meals. Since 1901 During the 20th century charitable organizations such as Oxfam (established in 1947), Care International and Amnesty International greatly expanded, becoming large, multinational, non-governmental organizations with very large budgets. Since