Whoever said you have to be rich to do good is mistaken. But whoever said you can’t be rich and also do good is mistaken as well. In the face of these two extremes — torn between the desire to accumulate wealth and the passion for social action — our generation has coined the term “social entrepreneurship” as an attempt to find a middle ground. This revolutionary idea that you can do good while still making money, has fueled the trend of applying business models to non-profits.

Three parts compose most business transactions: a buyer, a seller and a middleman of some sort. If we apply this same three-pronged approach to charity — those in need are the buyers, the wealthy check-writers are the sellers, and the activists function as the middle men — then philanthropic efforts can be maximized to the fullest. Though college students may have the vision, the innovation and the drive needed to commit to service, few have the monetary resources available to do so. Thus without the insanely rich, check-writers of the world, peace, equity and activism will remain merely philosophical dreams that will never come to fruition.

Unfortunately though, the financial meltdown on Wall Street hit non-profits and this triangular business model particularly hard. BusinessWeek recently cited banks as the “second-largest corporate givers to U.S. non-profits in 2007.” If the world’s most premiere banks are in the toilet, just think what that means for nonprofits.

There seems to be an inverse relationship between need and charity. The greater the suffering, the lesser the aid. Bill Gates, one of the richest and most philanthropic men in the world, is calling for individuals and corporations to give more and do more now than ever before. He insists that the poorer you are, the harder you were hit. Leading by example via the Bill and Melinda Gates Foundation, Gates has demonstrated the effect that one man and a ton of money can have on the world. His unprecedented investments in medical research and vaccines have already saved the lives of over three million children. Furthermore, he’s determined to cut the annual 10 million childhood deaths in half over the next 20 years. And that’s just one of his projects.

In a recent column in The New York Times, Nicholas Kristof praised Bill Gates and his dedication to improving global health. However, Kristof also suggests that, “The Gates Foundation has missed the chance to leverage the revolution in social entrepreneurship, hasn’t been as effective in advocacy as it has been in research, and has missed an opportunity to ignite a broad social movement behind its issues.” While the Gates Foundation may not utilize the same effective grass-roots tactics that the Obama campaign did, its life-changing impact on the lives of millions is difficult to contest. Moreover, I find the scale of Gates’ organization and its work not intimidating, but empowering.

Many say that writing a check for charity is the easy way out — that it’s rich people’s way of ensuring they sleep at night. While those who donate money may not sacrifice in the same way as an unpaid 20-something would be by risking their life in Darfur, the donor’s role is still legitimate. The fact of the matter is that someone needs to put up the money. And if its not gonna be you or me, why not some overpaid investment banker?

For the third year in a row, The Davis Projects for Peace is pledging $1 million to sponsor 100 college students’ service projects. Shelby M.C. Davis made his money from starting a $30 billion mutual fund and money management firm, and has used his wealth to better our world. His family’s $75 million contribution to the United World College program marks the largest contribution to international education ever made by a single donor in the US.

Cornell is one of 90 American universities that participate in The Davis Projects for Peace. Over the past two years, groups of Cornell undergraduates have won $10,000 grants each, providing each group the means to implement its own service project. Cornell students were able to build communal water pumps between warring ethnic factions in Ghana, create a peer HIV/AIDS education program in China, and establish an urban microcredit agency for Nigerian women. Without Davis’ generous contribution, these remarkable projects would remain merely ideas on paper, held short of application.

During this economic crisis, getting the biggest bang for your buck is more important than ever before. This means using the resources you have to their fullest potential, whether that be your money, your mind or simply your youth. In his 2009 annual letter, Bill Gates stated, “I believe that the wealthy have a responsibility to invest in addressing inequity. This is especially true when the constraints on others are so great. Otherwise, we will come out of the economic downturn in a world that is even more unequal, with greater inequities in health and education, and fewer opportunities for people to improve their lives.” While this may be true, we, as college students and members of the Cornell community, have a responsibility to utilize our education and our extensive resources to act now.

Like any business, big or small, if one person does not hold up their end of the bargain, it falls through. Whether you’re a buyer, a seller or that middleman who uses rich people’s money to do service, commit yourself now. As business partners and united citizens of the world, let’s emerge out of this economic crisis with more peace, greater equality and expanded opportunities for all. Together, we sink or swim.