Philanthropy can support the village that raises the child
23 January 2023 at 4:12 pm
While we saw an increase in giving from charitable trusts during FY22, we experienced a decrease in funding coming via bequests – which amplifies the important role that structured giving plays in generating sustainable funding for the sector, says Jodi Kennedy.
Direct donations to charities, crowdfunding, and volunteering all make up an extraordinary portion of the support which underpins the work of the sector – but structured philanthropy is critical to maintaining a regular and reliable source of funding to enable for-purpose organisations to plan for the future.
In our fifth Annual Giving Review we reflected on our evolving approach as a major funder in Australia. One of the 10 areas we shared our learnings on, was our funding of issues impacting Children and Young People and the importance of place-based giving.
Our experience demonstrates that, where needed, a place-based approach to philanthropy gives more young people facing hardship, the chance to reach their full potential and thrive.
Students facing disadvantage can on average be 2-3 years behind in reading and maths by the time they are 15 years old. The reading gap between the lowest socioeconomic status students and the highest is equivalent to almost three years of schooling.
This disadvantage can be concentrated in a small number of communities, with 5 per cent of Victorian locations accounting for close to one-third of the most disadvantaged young people.
It’s important that policies aimed at breaking these cycles of disadvantage focus on the regions that need it the most, by coordinating local partners who can tackle the root cause of the issues.
Greater Shepparton Lighthouse (Lighthouse) is a perfect example of the success of place-based giving, which helps leverage resources and empower communities to drive the change they need.
The project was established in response to concern that children and young people in the community were not faring as well as they could be. It was recognised that no single organisation or part of the community could address the complex array of issues that affect children and young people living in the region and a whole of community solution was required.
The McEwen Foundation, managed by Equity Trustees, was an early stage backer of this regional community, partnering to support the design and delivery of local solutions.
Lighthouse has used McEwen’s seed funding to leverage $4.3 million in additional funding from government and other philanthropists to scale up the project and continue to meet the needs of children and young people.
This community approach means that Lighthouse has been there for the community through challenging times including COVID-19 lockdowns and the 2022 Victorian floods across the Greater Shepparton region.
The grant partnership won the Social Impact Measurement Network Australia Awards 2021 Leading Funder in Social Impact Measurement.
“When you are lost, this is a great place to be found” Belinda gran-mum to Angelo, 4
The Lighthouse Project is funded through Equity Trustees Children and Young people portfolio. This initiative empowers equity for children and young people who are facing disadvantage, vulnerability or marginalisation to ensure they have every chance for a great future.
Jodi Kennedy is General Manager, Charitable Trusts and Philanthropy at Equity Trustees. More information about Equity Trustees is available at its website and read the 2022 Annual Giving Review here.
Equity Trustees is the brand name of EQT Holdings Limited (ABN 22 607 797 615) and its subsidiary companies, publicly listed company on the Australian Securities Exchange (ASX: EQT) with offices in Melbourne, Bendigo, Sydney, Brisbane, Perth, London and Dublin.
Equity Trustees was established in 1888 for the purpose of providing independent and impartial Trustee and Executor services to help families throughout Australia protect their wealth. As Australia’s leading specialist trustee company, we offer a diverse range of services to individuals, families and corporate clients including asset management, estate planning, philanthropic services and Responsible Entity (RE) services for external Fund Managers.
