May 27th, 2020
A survey of Australia’s leading philanthropic trusts and foundations shows that philanthropy is giving more than ever and has moved fast to support charities and the communities they serve.
The survey of 101 grant-makers reveals that 88% of respondents have already moved fast to change how they support the community by increasing flexibility (72%), untying restricted funding (48%), increasing financial grant support (42%) and establishing dedicated COVID-19 grant programs (32%).
The survey reveals that 40% of trusts and foundations have opened up new grant opportunities, beyond their regular programs, to communities and organisations needing immediate relief and recovery funding.
The general outlook for the charitable sector is deeply concerning: many charities are seeing significant revenue reduction whilst demand is rising. The survey findings show that many Australian philanthropists are increasing their giving during this critical time: 38% of survey respondents are increasing their total grant distributions this financial year (by an average of 20%) and 22% are already saying they will further increase their giving in FY2020-21.
Philanthropy Australia CEO Sarah Davies thanked all the members who shared their actions and thinking by taking part in the survey. She hailed the contribution of the community of funders who by working together and sharing their knowledge, built their collective expertise, tools and practice to become such good operators.
“You are so inspiring; the evidence is in the data: you are smart, strategic, flexible and generous,’’ she said. “This community works closely together and the collaboration and collective response is extraordinary. If we can encourage more philanthropy and giving, and see it channelled in this way, our communities will be so much the better for it.’’