New research into Australian philanthropy
Release of Giving Australia 2016: Philanthropy and philanthropists report
Philanthropy in Australia is becoming more collaborative and impact-driven, according to new Giving Australia 2016 research released today by the Minister for Social Services, Christian Porter.
Philanthropy and Philanthropists is the first of five research reports from Giving Australia 2016, Australia’s largest ever review and analysis of giving and volunteering. The research reveals that collective and collaborative giving is on the rise in Australia. More than a third (38.5 per cent) of philanthropists who responded to the survey give as a group, as well as individually.
Social media and web platforms are driving the emergence of new giving trends such as ‘giving circles’—where groups of people, motivated by a single cause, pool their resources to make a greater difference.
The concept of ‘life-long giving’ is also taking hold among Australia’s new generation of philanthropists. Giving Australia 2016 research reveals Gen Y philanthropists (35 years and under) are giving what they can, while building their wealth, rather than waiting until after they’ve reached milestones in later life, such as business success, reaching a senior job level or their children finishing school.
Social impact investing, where the point of investing is to make social and/or environmental improvements as well as a financial return, is also starting to make inroads. One in five philanthropists surveyed had impact investments in their fund portfolio.
The Department commissioned the Queensland University of Technology in partnership with the Swinburne University of Technology’s Centre for Social Impact and Centre for Corporate Public Affairs to undertake the $1.7 million research project to provide a strong evidence base to assist future policy decisions to encourage more giving and volunteering in Australia. This project is an initiative of the Prime Minister’s Community Business Partnership.
A further four reports will be released in coming months. More information on the Philanthropy and philanthropists report and Giving Australia can be found at Prime Minister’s Community Business Partnership research projects.