The Collaborative International Dictionary of English v.0.48:

Generosity \Gen`er*os"i*ty\, n. [L. generositas: cf. F.
   g['e]n['e]rosit['e].]
   1. Noble birth. [Obs.] --Harris (Voyages).
      [1913 Webster]

   2. The quality of being noble; noble-mindedness.
      [1913 Webster]

            Generosity is in nothing more seen than in a candid
            estimation of other men's virtues and good
            qualities.                            --Barrow.
      [1913 Webster]

   3. Liberality in giving; munificence.

   Syn: Magnanimity; liberality.
        [1913 Webster]

WordNet (r) 3.0 (2006):

generosity
    n 1: the trait of being willing to give your money or time [syn:
         generosity, generousness] [ant: stinginess]
    2: acting generously [syn: generosity, unselfishness]