Source Business Directory
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Finance, Philanthropy

Tomorrow’s Philanthropist – Study


Thursday, 23rd July 2009 at 1:25 pm
Staff Reporter
A new breed of wealthy philanthropists is emerging who are more socially aware and more motivated to give back to the communities they came from, as well as global causes according to a new study by Barclays Wealth

Thursday, 23rd July 2009
at 1:25 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Tomorrow’s Philanthropist – Study
Thursday, 23rd July 2009 at 1:25 pm

A new breed of wealthy philanthropists is emerging who are more socially aware and more motivated to give back to the communities they came from, as well as global causes according to a new study by Barclays Wealth.

The Barclays Wealth Insights reports, developed in partnership with the Economist Intelligence Unit, provides what is described as a comprehensive picture of what it means to be wealthy in the 21st century.

Based on global research with over 600 mass affluent, high net worth and ultra-high net worth individuals and the views of a panel of wealth experts, drawn from academia, industry and financial circles, the report paints a picture of the private world of this influential group, by analysing their shifting demographic profile, priorities and preferences.

Tomorrow’s Philanthropist looks at how philanthropic habits are evolving and how the wealthy will engage with charities and causes in the future.

Set against the backdrop of the global downturn, the report indicates that a younger and ambitious type of philanthropist is emerging – a positive sign for causes and charities around the world.

Here are some of the findings:

The wealthy are still giving despite the downturn – The recession has failed to dampen philanthropic spirit; the commitment of those who already give will remain resolute, and some wealthy individuals are actually increasing the levels of their funding in order to ensure that their charitable goals are met.

The wealthy will play an increasingly important role, compared to governments, in funding welfare projects – The recession will potentially increase the role of the wealthy philanthropist on a broad basis, as governments around the world become more constrained in the causes they can fund. High net worth givers will become an invaluable source of innovation and investment for charities.

The wealthy prefer to fund projects directly – Respondents increasingly feel that they can make a bigger impact and drive change more effectively by giving directly to charities, rather than supporting causes indirectly through taxation.

High net worth donors are becoming increasingly active philanthropists and now seek to solve rather than simply to support – Historically, high net worth individuals have donated money and time to charities to support their endeavours. Now, however, the wealthy are far more ambitious in their philanthropic aims and are wanting to see visible or measurable change.

The worlds of charity and business are converging – Smaller, nimbler and more accountable charities are becoming increasingly attractive to donors compared to the large, traditional charities. This will have a knock-on effect and in the future, we will see the emergence of more commercial ventures which have a philanthropic aim at their core.

The full report, Tomorrow’s Philanthropist, can be found at www.barclayswealth.com




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Tags : Philanthropy,

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Myer Reveals New Plans for Strategic Philanthropy

Wendy Williams

Thursday, 14th June 2018 at 3:30 pm

Impact Investing Could Displace Traditional Charitable Giving

Wendy Williams

Thursday, 7th June 2018 at 8:38 am

Promoting Sport as a Philanthropic Cause in Australia

Luke Michael

Wednesday, 6th June 2018 at 4:15 pm

How to Ensure Support From Your Staff When Undertaking a CSR Program

Andrew Muir

Wednesday, 6th June 2018 at 8:30 am

POPULAR

Australians Are Giving Less

Wendy Williams

Thursday, 14th June 2018 at 8:00 am

An Update on the Australian Recycling Crisis

Estelle Stathoulis

Tuesday, 5th June 2018 at 8:24 am

The Need for Leadership to Address White Supremacy in the NGO Sector

Luke Michael

Thursday, 14th June 2018 at 8:53 am

Victoria Takes ‘Exciting Step’ to Reduce Red Tape for Charities

Wendy Williams

Friday, 8th June 2018 at 4:17 pm

Source Business Directory
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!