Krystian Seibert of the Centre for Social Impact at the Swinburne University of Technology conducted a survey to quantify sub-funds in Australia. Before this data, the size of Australia’s sub-fund sector was unknown. Findings from the survey suggest that there are at least 1,995 sub-funds across the country, with assets over $1 billion. Donations to these sub-funds are strong, totalling nearly $123.5 million between 2017-18. During this same time period, sub-funds distributed a total of 6,304 grants that amounted to over $57 million.
‘Until now we’ve not known how many [sub-funds] there are in Australia, nor how much assets they hold and how much they grant out,’ Krystian Seibert told Pro Bono News. ‘The findings will add to the growing body of data we have on philanthropy in Australia, and I hope to build on the survey when I next undertake it in 2020 and possibly include a donor perspective with insights about why they chose to establish sub-funds.’
The survey snapshot also explains, ‘The scale of sub-funds in Australia is very different to their equivalent structure in the United States, donor advised funds, whose assets grew by one third in 2017, surpassing $100 billion for the first time. Given some of the benefits of sub-funds, it’s quite possible we’ll see strong growth in their popularity over time – especially if they are promoted more widely. The next CSI Swinburne Sub-fund Survey, to be conducted in the second half of 2020, will provide interesting insights in this regard.’
To learn more, view the survey snapshot here.