The total value of million-pound donations in the UK hit £1.83bn in 2016, its highest level in the last decade, according to the Million Pound Donors Report 2017 released by Coutts this week.
While the number of donations dipped to 310 (down from 326 in 2015), a higher average donation value and a significant number of donations of over £25m helped push the figure to an all time high.
The final figure for the number of donors in 2015 is down 29 on the figure originally reported at the time of release last year due data cleaning, which re-allocated some donations to the year they were actually made rather than when they were recorded.
Foundations continued to be the main source of donations of £1m or more, representing 55 per cent of the overall value, but corporate donors significantly increased their giving to make their largest contribution to date – accounting for nearly a third of the overall value.
Once again, higher education and foundations received the lion’s share of donations, together accounting for 67 per cent of the total value and 41 per cent of the total number of donations. Higher education received the highest amount it has received since the report began (£656m).
Ten years of growth
The report, now in its tenth year, is co-authored by Dr Beth Breeze of the University’s Centre for Philanthropy.
“The annual million pound donor report is helpful for those on the front line of encouraging philanthropy, not least because most charities are keen to start or grow their major donor programme," says Breeze. "This year’s report, which includes data on seven-figure plus gifts in 2016, as well as an overview of ten years of data, highlights ongoing positive trends in these biggest gifts. It demonstrates that all types of causes can and do receive them.”
Coutts's analysis of the last ten years shows that the number of donations of more than £1m is up by over one third over the decade from 189 in 2006.
Total donations have grown from £1.37bn to the 2016 figure.
The lowest total given over the last ten years was in 2010, when donations dropped to £1.23bn.
In line with 2016 figures, corporate giving over the last ten years has shown a marked rise, from under £50m in 2006 to over £500m in 2016 – an increase of over 900 per cent. The total annual number of donations of £1m or more from corporations has also risen by 282 per cent (from 17 in 2006 to 65 in 2016).
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