In the last few weeks, actor Alec Baldwin has donated $1 million to the New York Philharmonic (of which he serves on the board) and $500,000 to the Roundabout Theatre Company, where he has performed a few plays in New York. Apparently there's more where that came from.

Mr. Baldwin has done a series of advertisements with Capital One promoting the bank's Venture Rewards credit card. He is planning to donate all the proceeds from the promotion—which his spokesman said was "a few million"—to cultural charities. In addition, via its website later this spring, Capital One will match donations, up to $50,000, which customers make to Americans for the Arts, one of Mr. Baldwin's favorite organizations.

Wearing a tuxedo and using a personal electric fan to make sure his makeup didn't drip, Mr. Baldwin answered a few questions about his recent philanthropy while on a break from a photo shoot with some of the Capital One Visigoths for a print campaign. (At least one of the Visigoths was dressed in a tutu, another was playing a violin.)

What made you decide to do this partnership with Capital One?

When I did that Hulu spot in 2009, I gave all the money I received to my alma mater, New York University. I had a couple of people come to me to do more advertisements. When you do commercials in the U.S., people don't always smile on that. There's a perceived negative frailty. With Capital One, the point isn't me getting money and then giving it to charity. It's about Capital One partnering with me. They're joining me with this online component and this is something I want to build with them.

What do you mean?

This is a platform to discuss the idea that we can't forget arts funding. One of the four spots we're doing is a straight arts pitch. I get out of a car at Lincoln Center and say 'New York has a lot of everything. It's also home to my favorite place on Earth.'

Have you decided what you're doing with the rest of the money?

Not yet, but it's going to be given to arts organizations that I'm involved in like the Hamptons Film Festival and Guild Hall. When people die, they think of a poem, a song, a thing from a movie. The arts really matters to people. We're cutting funding there, and I think that's a huge mistake.

Do you decide to what use the money you're donating is going to at these organizations?

I usually defer to the organization. Roundabout asked if I would give them money for its Black Box program, which promotes new playwrights. I joined the board of the Philharmonic and their biggest thing right now is to renovate Avery Fisher Hall. That will cost hundreds of millions of dollars. I'm hoping that the money I give and raise will help start breaking walls.

What do you think it means to the larger world that you are being so philanthropic?

My giving something might be in the paper, but I'm not Bloomberg or the Koch family or Ronald Perelman. I'm not in that league, but I'm hoping this dialogue will bring more attention to arts coverage. There are some people in New York who can see $1 million as what 100 would mean to you. My hope is that nine other men who can do that can give a check for a million. The only reason I'm publicizing it is for people to please not forget the arts. Most money goes to medical causes, then alma mater then the arts comes fourth or fifth.

Are lots of organizations coming to you for money now?

Oh yeah, I'm not hard to find. Now I understand what these guys who really do have a lot of money put up with. If I had a billion dollars, what a thrill it would be to take a day or two a week and give money away. There's a crushing need everywhere, including Haiti, the Gulf and Japan. And private giving is relied upon now more than ever. All I'm trying to figure out is: How can I get my hands on more money? How can I set up a food company like Paul Newman that prints money? Could I sell hair gel?

Were you raised with a charitable conscience?

Yes, because since I was 12, my brothers always took money from me. My first foundation was the Good Humor truck and Mr. Softee. Seriously, though, it really is a thing where you should start giving no matter how small. I'd like to do this kind of arrangement I'm doing with Capital One once a year. When "30 Rock" is over, I want to do something completely different anyway. Find my way into a situation where I could direct funding.

Do you mean like work in government?

Maybe. At least find a way to help people figure out where the money should go. How uncreative these bastards [in government] can be down there.

Write to Marshall Heyman at marshall.heyman@wsj.com