Does philanthropy have to be utilitarian? In the sense that if you donate money your only goal should be scale? Is that the definition? Which one is better, do

Does philanthropy have to be utilitarian? In the sense that if you donate money your only goal should be scale? Is that the definition? Which one is better, donating $1 to 100,000 people or $100,000 to one person? Similarly is donating $10,000 to cancer research better than $10,000 to one person? The cancer research may never have an impact, but it makes us "feel" good becasue it has the potential to change millions of lives. Just an interesting one to me how we diminish the impact of helping one person when that one person could go on to be a Steve Jobs or the first person in the family to go to college. Literally life changing, where as donating for scale is a drop in the ocean and means almost nothing to a ton of people.