We thank the Prime Minister’s Community Business Partnership for posting this article.
The Hon Christian Porter MP, Minister for Social Services, released Giving Australia 2016 Philanthropy and philanthropists report and announced the opening of a grants funding round to celebrate grassroots partnerships between business, philanthropists and community organisations during Community and Philanthropy Partnerships Week.
The Philanthropy and philanthropists report focuses on the giving patterns of high-net-worth (HNW) and institutional givers. Findings from this report will be of particular interest to philanthropists and grant-makers, financial intermediaries including advisors and planners, and nonprofit organisations.
Selected highlights include:
- HNW individuals have nearly doubled from 146,000 in 2005 to 234,000 in 2015. As giving tends to increase with income, this provides a greater pool of people with the capacity to give significant amounts to charity.
- Evaluation of effectiveness and social impact is of growing significance for institutional grant-makers.
- One in five survey respondents included impact investments in their fund’s portfolio but it remains on the fringes of the investment strategies.
- More than a third of the 105 respondents to the Philanthropy and philanthropists survey (38.5 per cent) participated in collective giving. This was on top of giving individually or through foundations.
- The report also found a trend in life-long giving, with younger philanthropists wanting to give what they can while building their wealth.