Over the last few years, official statistics have started to show that individual giving by wealthy people in the UK has risen by £1 billion, and that this is a continuing trend: the curve has not yet plateaued.
We are also seeing now the response of philanthropy to an international crisis, highlighting the crucial value of philanthropy as a resource to take calculated risks to meet social challenges with speed and flexibility, and as a complement to government interventions.
Now is the time for us to support philanthropy to achieve its full potential.
In times of great need we now see that philanthropy is a lifeline. In normal times, it should be a rewarding lifestyle for those with the financial resources to give back to wider communities.
The Beacon Collaborative works with partner organisations in the philanthropy sector with the goal of promoting and celebrating philanthropy as an important part of civil society. Our goal is to grow the amount of private wealth that is deployed as donations or social investment for public good by £2 billion annually and to encourage the investment of the skills, networks, and time of these wealth holders in civil society.
Partners include philanthropists, organisations, and foundations that share a common aspiration to increase philanthropy and social investment among the wealthy in the UK.
The mechanism for collaboration to achieve our target is a series of strategic projects aimed at bringing about a systemic change to the culture of giving in the UK.
Our first reports consider the current landscape and use data to make recommendations on what needs to change to give voice to philanthropy, to support collaboration among existing and new philanthropic funders, and to support individuals on their giving journey.
The Giving Experience research surveyed 1,300 wealthy individuals in the UK to present a view of giving and the barriers to giving, segmented by wealth level, age and behavioural profile. The results help understand what makes donors tick and support recommendations for fundraisers and major donor managers on how to increase their income by managing relationships with each donor according to their motivations and values.
The Voice of Philanthropy explores how a future programme of celebration of philanthropy could influence and drive more giving and how to battle the pervasive negativity of philanthropy, and wealth in general, in the national discourse.
Collaborating for a Cause provides a framework for creating networks of funders around particular themes and causes, and highlights how sharing knowledge, best practice, and collaboration can help individuals achieve greater impact.
An arts and culture cause-related network has already been launched piloting the recommendations and bringing together like-minded philanthropists build a platform for individuals to support the UK’s cultural life.
Funded by Arts Council England, City Bridge Trust, Pears Foundation, and other private family trusts, Beacon will continue to support a coordinated effort from the philanthropy sector toward that extra £2 billion a year.
The first three reports will be released in Alliance magazine on 14 April 2020.
The Beacon Collaborative is a collective impact movement bringing together philanthropists, organisations and foundations that share a common aspiration to increase philanthropy and social investment among the wealthy in the UK.