New Research Shows British Philanthropy is strengthening, but the needs created by the COVID-19 crisis highlight the potential for philanthropy to do more. Many wealthy individuals are motivated by a sense of belonging and shared purpose – they want to be part of the effort to achieve positive change.
An important part of empowering these individuals to embrace their role in philanthropy is in the experience of fundraising, according to The giving experience: Overcoming the barriers to giving among the wealthy in the UK, one of three reports from Beacon Collaborative published today.
‘In an era of rising demand, more fundraising organisations are recognising the importance of private donations for their organisational resilience. Private capital often has fewer constraints than other sources of funding and can be less sensitive to political and economic transitions,’ said Cath Dovey, author of the report and co-founder of the Beacon Collaborative.
The report found that fundraisers need to continue to encourage entry-level giving and welcome new donors to the table, recognising that trust is a complex issue built up over time and multiple interactions. Fundraisers also need to recognise that wealthy people are not a homogenous group. Donor segmentation offers a powerful tool to support fundraising organisations to meet the needs of different groups of donors in more systematic and efficient ways.
Additionally, fundraising organisations needs to be supported by the wider context. The negative public discourse on giving and the limited availability of wealth advice to support major donors equally contribute to a weak environment for giving among the wealthy population.
‘This research shows that wealthy people in the UK want to engage as partners and peers to support positive social and environmental outcomes. Fundraisers have a vital role to play in supporting them on that journey,’ Dovey said.
To read the full report, click here.
Read the other reports published today: Collaborating for a cause: How cause-related networks multiply the impact of philanthropy and Giving voice to philanthropy.
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.