Philanthropists not cutting back

Fundraising | Celina Ribeiro | 1 Jul 2009

Major donors show no signs of winding back their giving, according to a survey released this week.

Nearly nine in ten philanthropists at a recent forum said that they planned to increase their giving (42 per cent) or maintain their current levels (45 per cent) over the next year, regardless of the economic downturn.

The survey of around 100 big givers, conducted by Coutts and Co. at the Coutts Forum for Philanthropy in April, also found that few major donors would admit that tax breaks were a major motivating factor behind their generosity. Just 16 per cent cited the tax benefits as a motivation, in comparison to 42 per cent who said they wanted to ‘give back’ and 37 per cent who gave because they felt a personal connection to the cause they supported.

Mark Evans, head of philanthropy and family business at Coutts, noted that philanthropy has increased over the past decade and took heart in the survey’s suggestion that it may continue on steadily.

“That said, more major donors do seem to want help from professional advisers in balancing heart and mind when making funding decisions. Equally important is the fact that the charity sector is responding to the diversity of interests and enthusiasms among new donors, exploring ways of involving them and drawing on their skills,” he added.

Maya Prabhu, also from Coutts, said that the quick survey corroborated with other positive trends in giving, such as the continued success of Children in Need, but that it was especially positive to see a different section of givers also pledge ongoing support.

Who's Who: Celina Ribeiro

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