News and reports on philanthropy
Major gifts at a tipping point?
There's no doubt that we've seen a real uplift in the size and frequency of serious large philanthropic donations over the past 18 months,
with three record-breaking donations to Australian higher education since February this year. Some recent reports have pointed to increases
in major giving, and various reports including the Cap Gemini World Wealth report are reflecting increasing wealth in Australia
We've updated our 'Top 200' list of known donations over $1m in Australia to reflect these recent gifts
recent report on Australian giving trends points to a recovery in
giving in 2011, but a slowing in that recovery in 2012-13.
notes the number of publicly announced major gifts in 2013, and suggests
'this may represent the start of a cultural shift in the way
Australians give.' Click to view it here Australian Giving Trends - Recovery Confirmed, Evolution Gains Pace
have published their examination of tax-deductible donations for
2010-11, which shows an increase on previous years in the number of
individuals claiming for tax deductions at the $25k+ level. The full report is available here
World Wealth Report 2013
The World Wealth Report for 2013 from Cap Gemini and RBC Wealth Management shows Australia' population of HNWIs up to 207,000 in 2012.
More information, downloads, at the Capgemini website, with some new rather funky interactive maps if you want to look at growth in numbers in Australia, Asia or globally.
Previous posts 2013
Major gifts update:
Its' been a good few months for major gifts in Australia; recent ones include:
- A pledge by Myers' business partner John Higgins to the same campaign for $2.3m
- Len Ainsworth's pledge of $5m to support the new Clinical Services wing at the Sydney Children's Hospital Randwick
- Australian entrepreneur Sean Howard's pledge of $10m to the Save Sight Insitute at the University of Sydney. The University announced it is at the half way mark in its $600m campaign
In a first for Australian philanthropy, earlier this year Andrew and Nicola Forrest became the first Australians to join the Giving Pledge, an international philanthropic movement started by Bill and Melinda Gates and Warren Buffet, in which participants pledge 50% of their wealth to philanthropic causes; based on current estimated wealth, the pledge will see them giving over $2.5bn to charitable causes.
Great start to the year for educational fundraising in Aus!
On the same day in the first week of February, the Australian National University announced a $50m gift from businessman and ANU alumnus Graham Tuckwell, and the University of Queensland announced a $10.5m gift from alumnus Professor Christopher Chen for a chair in reproductive medicine. Both gifts are from alumni whose principal residence is not in Australia - Tuckwell lives in the Channel Islands, Chen in Singapore. Quite a lot of press coverage, especially for the Tuckwell gift, including this interesting piece in the AFR. Titled 'Why Philanthropists Can't Always Give What they Want', it quotes Harold Mitchell thus:
Mitchell tells the AFR he is astounded by the difficulties some
wealthy people face in donating money. “I had one very prominent law
firm tell me they had about 50 of Australia’s wealthiest families who
wanted to donate money – we’re talking millions of dollars – but it was
too hard and there was simply too much bureaucracy. So only three of
those 50 families had been successful in giving away money.” .
Be really interested to know just what difficulties said lawyer encountered.
India Rich List
The Hurun Report, known for their listings of Chinese millionaires and philanthropists, have issued their first India Rich List. The cut off for entry to the listing of 100 billionaires and multi-millionaires was US$ 330m
The list is topped by Mukesh Ambani (55), the energy tycoon who presides over the Reliance Industries Litd, wo is the country's richest man, with his personal fortune assessed at US$19.3 billion.
You can find a press release about the report here
And there is a link to download the table of names and amounts at this page, under the heading 'Hurun released India Rich List', click the link that says "see tables".