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Better Philanthropy

Changing Lives; why philanthropy is vital in giving young people a chance.

October 7, 2021 by Beacon Admin

changing lives header

Changing Lives; why philanthropy is vital in giving young people a chance.

‘Changing Lives’ was written for Beacon Collaborative by Daniel Flynn, CEO of YMCA North Staffordshire. Find out more about Daniel below.

Opportunities for young people to change their path in life are not easy to come by, particularly for those without the networks and support to effect change.

There is often an assumption that young people know what they want and have the capacity to make the correct decisions for themselves. But young people do not know what they do not know. How can we expect them to achieve a better life without the relationships and people to help them? 

For those young people with parents that have high social capital, they have one key thing – access. Access to opportunities, travel and vast networks which allow them to make positive choices based on their extensive experiences. Access to try things out, have a go and take that first step. These opportunities are simply not available to their poorer and less connected counterparts. 

Many interventions have attempted to address the issue of social mobility but have not quite succeeded. But where broad initiatives have failed, philanthropy has often succeeded. Philanthropists have the flexibility to apply their funding in a variety of ways, based on what the situation demands. For this reason, philanthropic money can play a pivotal role in changing the life chances of young people. Here are a few tips for how to use your money to promote social mobility and change the lives of young people…

1. Creating the capacity to engage and learn.

For so many young people our educational system does not work. We need to think about how we create the space to learn in different ways – through art, sport, nature and more. The capacity to learn is a gift young people will take with them throughout their life. Let’s make sure they are engaged and understand the value of learning and education. 

      • What you can do: Funding Arts initiatives, nature groups and sports schemes are great ways to build the confidence of typically disadvantaged young people and engage them in learning. 

2. Promoting Travel

Travel changes lives. Culture enriches our soul. The more we learn about our world, the more fulfilled our lives can be. Many young people are trapped by poverty,  but poverty is not limited to financial opportunity. It is also the poverty of never seeing the countryside, never experiencing another culture. Travel promotes equality and inclusion and can often be a turning point in a young person’s life, providing different perspectives and stimulating exploration. 

      • What you can do: Fund a national/international residential. Offer opportunities to visit/meet extraordinary people and places through networks. Sponsor a young person on an oversees placement. 

3. Building Networks

Children of middle-class parents have access to a vast array of people who can help them on their way. Want to be a doctor, lawyer, business owner? Those parents will know someone who can help and will rightly use these networks to help their children. What about children who have no parents – or are carers/care leavers? How do we use our networks for them too? Relationships change people’s lives. How do we increase young people’s social capital to improve their life chances? 

      • What you can do: Offer work placements/work experience. Host events which young people can attend to meet new people. Offer coaching/mentoring. Connect with schools and charities, meeting young people directly to hear their stories and share yours. Open up your business to do a show and tell. Expose young people to your networks and your worlds.

4. Providing Resources

A huge barrier to anyone’s next step in life – particularly a young person’s – is having the resources to follow their passions. Bursaries can provide a huge cushion for young people and can be used in multiple ways to help them progress. This can mean many things, from driving lessons to a laptop, to furnishing their student accommodation. Not having the resources to take your next step is so limiting. Let’s work to change that.

      • What you can do: Provide bursary funding to young people. Make it largely unrestricted so they have access to funds which cover a large area of their need. 

A young person’s future should not be determined by their past. With the right love, support, opportunities and people, every life can be positively changed.

To quote Rupi Kaur…

“We are all born / so beautiful / the greatest tragedy is / being convinced we are not .”


Daniel Flynn is CEO of YMCA North Staffordshire, he has worked in the charitable sector for the last 35 years. His work has focused around social housing and homelessness, and he clearly understands the linkages between design and outcome. YMCA is still the biggest youth based charity in the world based in 138 countries servicing 50 million people every day, He works nationally and internationally for YMCA, working in West Africa and Israel/Palestine. He is committed to the area and loves to see the green shoots of creativity that he believes will unlock the prosperity of all. 

daniel flynn

Filed Under: Better Philanthropy, Bridging diversity, Growing Giving, Guest voices, Themed giving

Philanthropy Right Now: The Power of Community – by Marie-Louise Gourlay

September 14, 2021 by Beacon Admin

marie-louise gourlay article header

 

Philanthropy Right Now:

The Power of Community

‘Philanthropy Right Now’ is a periodical column for Beacon Collaborative by Marie-Louise Gourlay, Managing Director of Europe for The Philanthropy Workshop.

The power of community: a topic that’s risen time and again over the last 18 months. The twin pandemics of Covid-19 and the profound racial injustice that spurred the Black Lives Matter movement simultaneously tore us apart and flung us together.

Who were we when shut in our homes, hooked to the news? Was our community our household, our neighbourhood, our country? Or had our community expanded – a single community bound by a global pandemic, with a collective urgency to tackle the world’s issues?

For me, the notion of community has always been more a feeling than a tangible set of parameters. Dictionary definitions all feel overly passive, such as “the condition of sharing or having certain attitudes and interests in common”. It’s precisely that passivity that we wrestle with when we think of philanthropy. When does a shared attitude or interest progress from being passive to being active? And it’s fair to say that community can and does influence behaviour change.

Since Covid began, we’ve turned to one another in ways never seen before – seeking and sharing advice, advocating for trust-based approaches, and even informing one another about strategies which have proven successful – and those which have failed. It led me to question whether community is only formed out of necessity; when each of us needs something from one another in order to survive.  With greater urgency, and an increased openness to the value of cross-border learnings and solutions, it seems this necessity has allowed the door to philanthropic collaboration to creak open.

Knowledge comes in many parts – and community is one of those parts. It’s often not the obvious interactions that are most fruitful – but those that are serendipitous, or fleeting, that lead us to explore, to challenge, to question and to innovate. For when we stop innovating, we become redundant. The last 18 months have taught us that having a community of ever-evolving thoughts and ideas, of support and of critical challenge, truly is irreplaceable.

At The Philanthropy Workshop, whilst our community was previously a long-standing, strictly enforced ‘no pitch zone’, increasingly members are seeking opportunities to co-fund, putting aside their individual strategies and recognising the role that collective action can play in multiplying impact, as well as acknowledging the power which must be ceded to enable that.

Long-term behavioural shifts take time. But the hope is that the movement towards collaboration and away from isolationism will continue in the direction that it has started. Reflecting further, I wonder whether the active shift we ultimately make will take philanthropy from being a community to being a movement, in order to achieve the changes we seek in the world.

We flourish when we’re part of something bigger than ourselves. We should be asking ourselves not only what we gain, but what we contribute. For there is a place in philanthropy for everyone.


Marie-Louise Gourlay is the Managing Director of Europe for The Philanthropy Workshop. Find out more about The Philanthropy Workshop’s activity here.

marylou gourlay

Filed Under: Better Philanthropy, Growing Giving, Guest voices, How to do it

4 ways charities and donors can collaborate better

September 2, 2021 by Beacon Admin

4 ways charities and donors can collaborate better

This article was written by Becky Cackett for Beacon Collaborative. Becky works as a Prospect Development Manager within the UK philanthropy sector.

During the pandemic we saw philanthropists truly step up and show solidarity with charities. We also saw big changes to the way funds were donated, and the number of grant-giving trusts and foundations established in 2020 hit an eight-year high. 

But the fight isn’t over. The pandemic has had a significant impact on the income of charities at a time when people need them more than ever. Data from NHS England, for example, confirms that 2020 was the worst year on record for cancer waiting times in England and saw the lowest number of people starting cancer treatment for 10 years.

To address the significant challenges ahead we seriously need to consider how to strengthen the relationships between charities and philanthropists, in a way that meets the needs of both. Here are four areas of improvement with actionable recommendations for charities and donors alike:

charities and philanthropists becky cackett


1. Develop a shared understanding

A 2019 report commissioned by Barclays Private Bank identified an ‘us and them’ gap between philanthropists and charities as a key barrier to philanthropic giving. In addition, it showed that 23% of HNWIs outside of the US feel they do not have enough knowledge or experience with charities to make a larger gift.  

It’s clear that we need to overcome this disparity so we can attain the most effective outcomes for our beneficiaries. Charities sometimes take an approach which can feel transactional, when they should be getting to know the philanthropists they partner with more holistically, understanding their individual skills, interests and motivations.

Philanthropists should feel comfortable being more inquisitive. There are often many opportunities for you to learn more about the organisations you support, including meeting senior staff from within the organisation and visiting their services to deepen your understanding. 

Donors: Utilise the resources charities provide to understand the issue in greater depth.

Charities: Dedicate more time to getting to know your donors and what drives them.

 

2. Know that communication is key

Feeding into the above, we know that developing trust between philanthropists and charities is vital to forming strong and impactful relationships, which will ultimately have the best outcomes for those we support. 

In the Barriers to Giving report, 25% of HNWIs cited a ‘lack of control over how the money is spent’ as a barrier to giving. Openness and communication can help to build trust and to overcome obstacles like this. Philanthropists shouldn’t be afraid to ask questions about how their money will be spent, or how a charity is financed or governed. Charities do not want to lose donors and will often be willing to go above and beyond to address any issues.

the giving experience becky cackett

In return for this openness, donors deserve transparency and accountability from the charities they choose to support. It is incredibly important to feedback to your donors when something is not going well.

Donors: If you’re not sure about something, ask the charity for clarity.

Charities: Don’t hide your failures from donors – they appreciate and deserve honesty.

 

3. Understand the importance of flexibility in funding

As Clare Wilkins from New Philanthropy Capital says, Covid-19 has been a ‘testing phase’ for the charity sector. During this phase donors have given more flexibly to charity than ever before.

Now that it’s clear the effects of Covid-19 will endure for years to come, it is vital that philanthropists continue to stand with the organisations they support and help to secure their future sustainability. For donors to do this effectively, charities need to help them to understand the value of unrestricted funding, which allows money to be spent when and where it is needed most.

But charities also need to reward the trust which has been placed in them by supporting philanthropists’ desires to be change-makers, and there are many opportunities to be part of innovative work if this is their preference. Beyond this, charities would benefit from identifying where individual philanthropists have skill sets which would complement specific projects.

Donors: Consider if you can support organisations more flexibly, for example by funding core costs. 

Charities: Educate donors on why core funding is so integral to your work.

 

4. Be proud of what you’ve achieved together

This year, for the first time in its history, The Sunday Times Giving List saw donations from the UK’s top 200 philanthropists reach an amazing £4.3bn. In the UK, philanthropists and charities achieve so much together, but celebrations of these successes in the media are relatively rare. This contrasts with the US media where these stories are commonplace.

sunday times giving list becky cackett

Photo used courtesy of CAF. All rights reserved.

Philanthropists may feel understandably reticent for their stories to be shared in the general media. Charities can support this by opening their own external communication channels and telling these shared success stories in the most appropriate way for both sides, with a focus on the transformative impact of a large gift.  

It’s so important that charities and philanthropists feel able to shout about their successes together. This encourages others to give, and to have the opportunity to experience the fulfilment that comes with developing a deep relationship with a charity and its people.   

Donors: Seek to inspire! Look for opportunities to share your giving stories.

Charities: Tell the stories of donors, not just beneficiaries; develop giving role models.

 

Final thoughts

In the past 18 months, charities saw an increase in support from philanthropists when other income was severely reduced. But how can we sustain this momentum? Together, charities and philanthropists should nurture their relationships with open communication, honesty, and understanding, and celebrate when they’ve achieved something together. Let’s never forget that we’re working towards a shared goal.


Becky Cackett works as a Prospect Development Manager within the UK philanthropy sector. She has worked and volunteered for some of the UK’s largest charities spanning a wide range of different causes. You can connect with Becky here.

becky cackett

Filed Under: Better Philanthropy, Growing Giving, Guest voices

A different approach to funding charities…

July 29, 2021 by Beacon Admin

A different approach to funding charities.

Charity Bank is a bank designed exclusively for charities and social enterprises. It offers funders the chance to support social impact by investing in the bank itself. We speak with Charity Bank CEO Ed Siegel to learn more about this unique approach to third sector financing…

charity bank logo


What is Charity Bank and how does it work?

Charity Bank lends money to charities and social enterprises to enable them to strengthen and expand their services. Like any other regulated bank, Charity Bank’s ability to lend is limited by the amount of capital it has on its balance sheet. To lend more – and thereby enable more social impact – it needs to grow its regulatory capital base. The more regulatory capital the bank has, the more loans it can make to charities and, therefore, the more social impact it can have. 

Because Charity Bank can leverage its capital with deposit raising, the impact of a capital investment is more powerful. Roughly speaking, the bank can make £8 in loans for every £1 in regulatory capital it holds. It does this by issuing shares, mainly to trusts and foundations, and through the private placement of subordinated loan notes to eligible high-net-worth and sophisticated investors as a social investment, an investment which also takes advantage of Community Investment Tax Relief (CITR).

CITR is a 25% tax credit given by HMRC on the face value of the investment. For example, for UK tax-payers, over a 5-year term instrument, this is the equivalent of a tax-free income of 5% per annum. The value of the loan note investment and the leverage it enables is put to work to provide funding for UK charities and social enterprises supporting disadvantaged communities.

 

Which organisations does Charity Bank lend to?

The bank supports a diverse range of charities and social enterprises. Considering that there are over 100,000 community interest companies and social enterprises in the UK – and around 169,000 registered charities – a rough estimate puts the bank’s total potential loan-base at around a quarter of a million organisations.

Among these, Charity Bank is particularly active in lending to the affordable housing sector. It works with a range of organisations in this space, from YMCAs housing people lacking secure accommodation and almshouses providing housing for the elderly, to smaller organisations supplying critical services, including one of Ed’s favourite client organisations – EVA Women’s Aid:

“EVA is a small social enterprise in Redcar supporting victims of domestic and other gender-based violence. We first helped EVA five years ago with a loan to purchase a property to use as a specialist safe house and recently approved a further loan for a second property which will provide more safe accommodation for women. Compared to some of our larger charity borrowers, EVA is relatively small; however, the immediate impact they have can be life-saving and the generational impact beyond this is phenomenal.”

charity bank ed siegel quote

 

What makes Charity Bank a unique solution for the sector?

Most mainstream banks are naturally focused on – and their processes largely designed for – larger, profit-driven businesses. By contrast, Charity Bank is designed to meet the specific needs of charities and social enterprises. Ed explains that whilst these organisations are not managed to maximise profits, many are still viable as potential borrowing customers of the bank, albeit ones sometimes requiring more guidance:

“There can be a fair bit of hand-holding involved in lending to charities or social enterprises. Many of our borrowers have not previously taken out a loan. We guide applicants through the credit and legal due diligence processes, something that mainstream lenders are not always prepared to do. Our aim is to make the applicant’s journey as smooth as possible.”

While traditional banks are driven by financial return for themselves and their investors, Charity Bank’s raison d’etre is the social impact that its lending can have. The bank prioritises social impact while seeking to lend sustainably, aiming to preserve its capital and make a modest financial return. This is why CITR is such a critical component of the loan note structure, offering an interesting taxable equivalent yield to investors while also keeping the bank’s cost of funds to a minimum.

 

What about the security of Charity Bank loans, especially after Covid?

The social sector has been hit hard by the pandemic. Some loans which organisations could afford a year ago are no longer viable options for them. We asked Ed how this will impact Charity Bank’s loan recovery rate, and what it plans to do to counter a potential dwindling demand for loans. 

Charity Bank’s historical loan loss rate is incredibly strong, at just 0.3%. Ed attributes this in-part to a very thorough approach to credit evaluation, and the fact that the vast majority of the bank’s loans are well secured with real property. But beyond this, he cites the strong, mutually-beneficial relationships Charity Bank has with its portfolio enterprises:

“When things don’t go to plan at one of our borrowers, rather than go into automatic risk-mitigation mode, as we often see conventional lenders doing, we actually find ourselves drawing on our close relationship with the borrower to do what we can to help them. Many of these organisations feel a strong obligation to honour their commitments to us because of this close-knit relationship and the fact that the bank itself is an impact-led organisation. We go hand-in-hand with the charity in good times and bad.”

However, Ed also recognises that many organisations will not be in a position to take on pure loan financing, especially in the post-Covid environment. To get stalled projects off the ground, a combination of grant and loan funding may be a more viable option. With this in mind, Charity Bank is currently working to secure funding to roll out a blended finance offering that will be able to combine grants with repayable loans. Ed says:

“The hope is that this approach will make some charities’ projects viable again. For example, if a charity needs £100,000 but can only afford to borrow £50,000, a blended finance offering could see them given a £50,000 loan from Charity Bank alongside a £50,000 grant from a charitable trust or foundation funder.”

Looking to the future, Ed is positive. He draws optimism from the fact that – at the time of writing – no Charity Bank borrower had failed as a result of the pandemic. In fact, rising demand for loans has seen Charity Bank grow significantly over the past twelve months. Such a testament to the resilience of the third sector demonstrates the effectiveness of applying different approaches to financing charities, especially in times of crisis.


ed siegel charity bank ceo

Ed Siegel is the CEO at Charity Bank.

Charity Bank on Twitter

Learn more about Charity Bank

Filed Under: Better Philanthropy, Growing Giving

Audacious Philanthropy: 5 ways to improve your giving

July 23, 2021 by Beacon Admin

 

Audacious Philanthropy: 5 ways to improve your giving

This article uses copy, content and insights from Audacious Philanthropy: Lessons from 15 world-changing initiatives, by Susan Wolf Ditkoff and Abe Grindle, which was originally published in the Setp – Oct 2017 issue of Harvard Business Review. The full text is available to read here.

Audacious philanthropy has helped to propel some of the most important social-impact success stories of the past century: virtually eradicating polio, providing free lunches for needy schoolchildren and securing the right for same-sex couples to marry, to name just a few.

Many of today’s emerging philanthropists aspire to similarly audacious successes. They don’t just want to fund homeless shelters and food pantries; they want to end homelessness and hunger. Steady, linear progress isn’t enough; they demand disruptive, catalytic, systemic change—and in short order.

But a growing number of these donors are frustrated. Despite having written big cheques for years, they aren’t seeing transformative successes for society. When faced with setbacks and public criticism, the best philanthropists re-examine their goals and approaches. But some retreat to more traditional fields of giving such as education, arts and culture. Others withdraw from public giving altogether.

Audacious social change is incredibly challenging. Yet history shows that it can succeed. To better understand why some efforts defy the odds and what lessons you can learn from the triumphs of the past, Susan Wolf Ditkoff and Abe Grindle conducted research into breakthrough initiatives which have been fuelled by philanthropy.

Their research gives 15 examples of philanthropy that changed the course of history and five changes you can make to achieve large-scale, swing-for-the-fences-change. Here’s how to optimise your strategy for audacious philanthropy.

5 ways to improve your giving

Explore the full research

audacious philanthropy


Do you have research or stories you’d like to share with the Beacon network? We’re interested in promoting positivity around philanthropy and encouraging more people to get into giving. Send us a message at info@thinkNPC.org 

Filed Under: Better Philanthropy, Growing Giving, How to do it

Philanthropy Is About More Than Giving: People Must Work To Change The Foundations

July 19, 2021 by Beacon Admin

Philanthropy Is About More Than Giving: People Must Work To Change The Foundations

This article was written by Mike Schiemer – Find the original here – Republished for Beacon Collaborative with author’s permission.

The best people know when to give to those who need it and lift others up in times of need. However, philanthropy doesn’t work only through generous acts. It must provide real and long-lasting change that makes the world better. These lessons are what true philanthropists like Donald Friese and many others know intuitively.

philanthropy-giving-improve-foundations-give-back-help-society-donate-charity

 

PHILANTHROPY IS MORE THAN GIVING

Those who think philanthropy is measured by dollar amounts often don’t understand the true nature of this process. Philanthropy needs to be transformative and restorative. It must bring something new to the life of those experiencing it and give them new hope and a better lease on life. It doesn’t just give somebody a meal for a day but strives to make it easier for them to eat for the rest of their lives.

Beyond that, it should try to change things at its core level to make the world a better place. True philanthropists look to shake expectations and help people understand suffering. Universal empathy drives true philanthropists and makes them driven to succeed in many unexpected ways, particularly for those who want to improve their community and their nation.

But how can the average person ever reach these lofty levels of expectation? It may seem unfair to expect most people to have that drive and that energy. However, those who truly care about philanthropy do have those drives and do what they can to help change the world and make it stronger. Here are a few different ways you can achieve this goal, beyond writing a cheque to your favourite charity.

 

HOW TO GIVE WHERE IT MATTERS

Thriving as a philanthropist requires a deep understanding of what causes matter to you and taking time to focus on them. Too many people don’t take the time to follow these steps and end up struggling to make things better. Donating money is nice but just isn’t enough for this situation.

As a result, it is important to understand many factors before you try becoming a philanthropist. Remember – you need to be willing to work hard and have a true vision about how you want to change the world. Take these steps, and things should go easier for you:

  • Know What Matters to You – Have you spent the time figuring out what causes are important to you? If not, you need to think long and hard about what matters to you as a person. We all have beliefs, and your philanthropic goals should always align with them for a better chance of success.
  • Find Foundations With Real Experience – Try to give to groups that work to lift people and transform their lives and the power that surrounds them. Those groups focused on real change and sacrifice are the best options for those who want their philanthropy to truly matter.
  • Give Your Time and Energy – Simply donating money to a foundation is rarely enough for a true philanthropist. Most will also spend time in the trenches, working in difficult situations, teaching people how to take care of themselves, and endlessly working to better things.
  • Champion the Best Causes – The world is struggling, and it is only possible to change things at their core by starting at the bottom. Champion those causes that you feel have the best chance of reaching this goal, and you can transform so many lives for the better with ease.

If you ever feel like your efforts are not enough or are not satisfying your needs, it is time to reconsider your approach to helping others in need. Philanthropy shouldn’t just be donating the same money to the same groups without thought. You need to be constantly upgrading your approach to make it more effective.

 

FINDING GREAT PHILANTHROPIC GOALS

Anyone interested in philanthropy needs to spend time researching the options that make the most sense for them. By seeking out those foundations and giving opportunities that truly change the world, it is possible to truly help those in need. It is best to listen to your heart in this situation. Taking into account how you feel and what feels normal and moral will make this process simpler for you. This will all help you in your journey of first-rate philanthropic deeds. It will feel great to give back!


  • Follow Mike Schiemer on Twitter.

Filed Under: Better Philanthropy, Guest voices, How to do it

Crafting a meaningful experience with millennial wealth creators

June 21, 2021 by Beacon Admin

Savanta and the Beacon Collaborative carried out qualitative research with millennial wealth creators around England, Scotland and Wales who are already giving some money, but with the right motivating tools could give more now, or in the future. These are the voices of our #YoungGivers.

It’s something that just resonates with my heart.   London

Just being able to help and raise funds, and know that your money’s going to a good cause and you’re making a difference to people’s lives, makes you feel better about life and less guilty when you’re enjoying your own life.  South West

I feel as well that with small charities, the work they do tends to be a bit more targeted and it’s easier to follow up on your donation, to see exactly where it’s gone and what they are doing.  London

The overall research showed that this generation are, at heart, generous and want to do more. They understand how lucky they are to be in their situation but sometimes the other, seemingly more immediate, pressures of life have to take priority and giving takes a back seat.   However, when challenged to think about giving they are engaged and thoughtful, wanting to know more and make plans that fit into their lifestyle and longer-term family plans.

I think having to think about why you do what you do or what you get from it was quite tricky, I think we all do it to get the satisfaction that you’ve done something good but probably don’t think of it that way unless asked to look deeply.   North

So, what can be done to fit giving into the routine of busy lives, or to motivate these young wealth creators to do more?

In a world dominated by easy access information and short sound bites, charitable organisations can streamline their communications to be front and centre of a potential giver’s thoughts.

We found that charity is thought of as local and personal.  Some charitable activities, notably the arts and advocacy, are not really thought of as charitable when a young wealth creator is making a donation decision.   Sometimes it’s personal as they know someone who has been through a trauma or had a disease.  Sometimes there’s a “there but for the grace go I” empathy.  Charities not on the radar of givers need to do more to show that they are charitable and how they directly impact lives.

However, there is a sense of fatigue at the number of sponsored events that happen, especially in large workplaces and the feeling that then charity is done.  There is also a need to know where the donation will go and that it will be useful, therefore charities that appear wasteful are rejected.

The go-to charities have solid reputations and easy-to-understand messaging.  They produce images and stories that resonate on a personal level.  They show the outputs of their work in smiling faces and stories of named people.  They show the direct impact of a donation to a person or activity that the donor can visualise easily.    They provide tech enabled giving solutions that allow forgive-and-forget giving but that can be the start of regular giving over a long time period.

As yet these busy young people have not had time to fit giving decisions and planning into their lives.  They do think carefully about their environmental impact and the social justice in their surroundings, but it is not associated with “charity” but behaviour and is not part of considering a holistic lifestyle.  However, when their thoughts are provoked, they have the desire to contribute more, on their terms.

Successful interventions fit into their lifestyle and are relevant to professionals on a career path.

So how can charities engage better?

Our participants responded well to…

  • Localised stories where people were humanised, with names and faces
  • Clear objectives and the way that a donation or act creates change with suggested amounts and what that would achieve
  • Tech enabled (text message, direct debit sign up) but not complex methods to give
  • Suggested support beyond the financial – items that people really need that can be donated
  • Something that they can be proud of even if they don’t speak about it

I’m grateful that I’m not in a position that I’ll need to use any of the charities that I donate to or any of the causes.  North

When you’re under real pressure, you don’t think, ‘What I’m going to add to my really busy day is, that I need to do something for charity today.’ It’s usually when you find a gap in your schedule.   South East

I think it would be good for potentially some charities to showcase and highlight ways that people could help them as well, rather than it potentially just being all money.  Scotland

What can charities and their fundraisers do to engage?

  • Help them understand the system – what fundraising is, why capacity building is necessary, how charity structure works
  • Attributing funding to direct actions to direct impact on individuals
  • Celebrate individual contributions
  • Utilise skills and explain the value of them
  • Make it part of a greater plan, for the donor and the charity
  • Use language that is not NGO tech speak but ordinary every day terms that people understand
  • Help make it part of everyday life – fit giving in with all the other activities

I’ve always wondered how people can help a charity through connections and expertise, but the amount of time, it’s almost like another job.   Scotland

You’d feel a bit rewarded, at least you feel a little bit good.   London

At the end of the year, I tend to make a bigger contribution from my own personal money. …..We tend to get a bonus at the end of the year and I really see that as money that I wouldn’t expect to get if I worked for anyone else, so I use a proportion of that, basically, to fund a few charities of my liking.   South West

I had an example of researching a charity, and looked to see from the accounts what the director’s pay was like, and they weren’t all paying themselves a fortune…Looking to see that as much of the money as possible can go to the cause that you’re interested to support. I think it also gives you a feel of the ethos of the charity, you know, are they there for themselves?   South East

What do they want to do and hear?

Views are formed by own experience, use that to harness people’s engagement, both personal and professional: people are much more sympathetic when they see something organically by going through life and have sympathy and anger for the root causes of the issues

They are happy to talk about it if they were part of a team that helped, repeating a story they have heard but less so if they are “just” donors.  So, give them stories that they can remember and tell, and give them pride in their contributions.

Bring together peer donors who don’t know each other – mini giving circles to talk together about doing more and guide the discussion

Be honest about failures as well as successes. If there’s too much hype it becomes unbelievable

Volunteering is seen as a much bigger deal, more serious and a bigger sacrifice than giving money – more thought goes into it. Make volunteering easy, match it to a financial value, match the person to the commitment, then make sure they have stories to tell about volunteering.   Make volunteering a qualification that can be used on a CV, something that can be using professional skills, harness skills that have a value to the charity.

For the long-term future:

Established giving is not aspirational for most people, it’s “almost like another job”.

  • Help them to think of giving as an integral part of their financial planning
  • Provide online tools to calculate what can be given when
  • Make birthday and Christmas gifts more enticing to be done through charities or as donations on others’ behalf
  • Encourage intergenerational conversations about giving and charity
  • Show how much effect long term engagement/multiyear pledges can make to planning and future security

And I think it’s about having that discussion with a financial advisor to say ‘Maybe you can get a return on this, but this is done in a charitable way’, versus, ‘Why don’t you just donate this amount? And, actually, you can offset that against your tax, and this is how you would do it’. So, it’s just putting it in a bit more of a structured way.   South East

The time is now.  These young wealth earners are intelligent and thoughtful, conscious of the issues that surround them but need to be engaged more to enable wider understanding of the interplay between social issues and behaviours and the impact that can be had when acting in a holistic way.  With targeted communications now there is the potential for these young wealth earners to be engaged major donors of the future.

I thought it was a real thought provoking session…..it’s made me want to look into giving and volunteering more than I do.   Southwest

I was going to say actually after this past hour or so I don’t think I am doing enough, I think I could give more.    Scotland

Filed Under: Better Philanthropy, Growing Giving, How to do it

Top 10 needs of millennial donors (and how to meet them)

June 7, 2021 by Beacon Admin

millennial donors header

Top 10 needs of millennial donors

(…and how to meet them)

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Millennials are now becoming established in professional careers and beginning to earn more money. As they become wealthier, it is imperative that we expose them to charitable giving to help them embark on their philanthropic journey.

In April 2021, Beacon and Savanta published the #YoungGivers research to fill the gap in knowledge about their philanthropy. Funded by Arts Council England, the research sought to shed light on the giving habits and attitudes of wealthy young people from around the UK.

We learnt that much of what we assumed about their philanthropic activity is wrong. Instead of developing long-term strategies, they largely give in the moment; they see technology as a shortcut for ‘real’ interaction, not a replacement; they don’t use words like ‘impact’ in the same way that charities do.

We realised that charities could improve their interactions with young donors if they understood the needs of this demographic better. In this infographic, based on our insights from the #YoungGivers research, we explore the Top 10 things we learned about millennial donors and suggest how you can meet their needs.

Filed Under: Better Philanthropy, Growing Giving, How to do it

Reinventing philanthropy for today | Our Common Good

June 2, 2021 by Beacon Admin

Reinventing philanthropy for today.

We learn about a concept seeking to change the way Britain thinks about giving in response to a growing need for renewal and regeneration.

A new charitable body is looking to reignite Britain’s philanthropic tradition, leveraging the money, skills, networks and knowledge of wealthy individuals, foundations and corporations to catalyse social change in some of the country’s most socially excluded communities.

our common good founders

John Nickson (left) and Paul Donovan, the co-founders of Our Common Good.

The initiative – Our Common Good – is the brainchild of philanthropists John Nickson and Paul Donovan, and began in 2018. Its goal is:

“…to help create a more cohesive, equitable and prosperous society through new philanthropic and social investment in Britain’s left behind communities. By creating positive social impact via local projects that can be scaled up and replicated elsewhere, we can demonstrate what is possible and thereby promote innovative best practice and influence national policy”.

Emerging from what John calls a ‘pilot and private phase funded by us’, Our Common Good has already co-created and supported five transformative community projects. In this article, we speak to the founders to take you through the journey of Our Common Good – from inception to fruition – and how philanthropy can help to stimulate and find innovative and sustainable solutions to societal problems that are beyond the capacity of the state or any of the sectors acting on their own.

How did the idea emerge?

John Nickson is a fundraiser turned philanthropist. He was director of fundraising for some of Britain’s leading national institutions, including the British Council, English National Opera, Royal Academy of Arts and Tate.

our common good logoAfter retiring from Tate he began giving and campaigning to increase philanthropy in Britain. Encouraged by the philanthropists he had worked with – themselves frustrated at the lack of a philanthropic culture in modern Britain – John wrote two books extolling philanthropy.

The second of these, Our Common Good, which lends its name to the new initiative, emerged from a conversation between John and a leading philanthropist in 2014:

“We were talking about how philanthropy could contribute to the regeneration of the Olympic site in east London. He commented on the emerging dynamic that state funds were dwindling while the demands on the not-for-profit sector increased. He said a new mindset and template were needed.  It’s an issue that I couldn’t get out of my mind. I started asking myself the question – if the state provides less, who will provide more?”

our common good bookIn pursuit of an answer, John’s research led to conversations with over a hundred people around the country, looking at how local collaboration, underpinned by a solid philanthropic catalyst, could provide a valuable and increasingly essential complement to government funding and make a demonstrable and sustainable social impact.

He wrote about Onside Youth Zones as a prime example of philanthropy convening local forces and redefining the relationship between the public, private and not-for-profit sectors. Initially based in Bolton, it was this collaborative strategy that helped Onside Youth Zones to become a national charity.

John’s book found its way into the hands of Paul Donovan, a highly respected CEO whose various corporate posts have seen him turn around the fortunes of a number of household brand names. Inspired, Paul connected with John and the duo decided to combine their skills and resources to put the book’s theory into practice.

The new initiative is named after John’s second book, above.

How does Our Common Good work?

What distinguishes Our Common Good is its holistic approach. While it is influenced by methodologies such as asset-based community development and participatory grant-making, its venture philanthropy model enables innovation, experimentation and taking considered risks with pilot programmes that have the potential to grow.

Our Common Good’s aim is to drive sustainable social impact by creating strong networks of local organisations, councils and other stakeholders across the sectors. The partners agree to focus upon specific challenges and to collaborate in order to solve them. Our Common Good provides seed funding and also professional advice, thereby helping to build the capacity of smaller charities.

Further injections of philanthropic funding or social investment are sought after the projects have been defined with the aim that they will ultimately become self-sustaining and be entirely owned by the community, charity or social enterprise running them. The intention is that community networks will grow beyond the bounds of their initial projects, inspiring local collaboration for other regeneration projects in the future.

Our Common Good also wants to influence national policy. The government’s recent ‘Levelling-Up’ agenda demonstrates that the ground may be fertile for such an initiative, inspiring a rethink of how we support historically neglected communities. Says John,

“People are finally waking-up to the fact that some of our towns and cities have fallen way behind more prosperous parts of the country and that there are also hidden depths of poverty within wealthy counties. By proving that our concept works, we can change the way the public sector thinks about supporting local communities. By working with others, the public sector can become an enabler as well as a provider. We can also demonstrate to philanthropists and other funders that through collaboration they can help to enable positive and sustainable social change.”

The founders are passionate believers that people know the solutions to their own problems and that enabling them to realise these solutions is where the focus should be. But despite Our Common Good’s encouraging start, the duo remain realists. Paul speaks to this:

“Our venture philanthropy model allows us to innovate and experiment, take considered risks and learn from pilot programmes so that they can be developed, replicated  and expanded. We know we will fail sometimes, but that is to be expected. In fact, if we’re not failing from time to time, we’re probably not working hard enough to push the boundaries of new ideas.”

What are the current projects?

Our Common Good has developed five pilot schemes across the UK so far. We look at two of these:

Growing Minds

growing mindsThe first project established by Our Common Good is ‘Growing Minds’, a pilot initially developed and operating in Oxfordshire, designed to tackle educational inequality in rural parts of the county. It aims to ensure that young children enter primary education on a par with their middle class peers rather than being up to five months behind and never catching up. The concept emerged from discussions with Oxfordshire Community Foundation and other local organisations to determine priority needs. Says John,

“Because Oxfordshire is such a wealthy county, people often consider that it doesn’t have any poverty or educational disparity. Regrettably, this isn’t true; the poverty is simply more invisible. According to the latest indices of Multiple Deprivation in 2019, Oxfordshire has 17 neighbourhood areas among the 20% most deprived nationally, an increase from 13 in 2015.”

Following consultations, Our Common Good funded the appointment of a manager to research, develop and define a project. The project manager brought together a delivery team of ten local organisations, including charities and local and statutory authorities to run the project under the umbrella of Oxfordshire Community Foundation.

Our Common Good has proved that it is possible to persuade ten organisations to abandon their silos and work together with a single aim.  Throughout its seven year duration, the project will support over 800 young children and their families, helping to improve primary school readiness in some of Oxfordshire’s poorest communities. As a result of progress to date, Growing Minds is now being adopted in other parts of the country.

Community Larders

A second project being incubated by Our Common Good is Community Larders, a social enterprise and community-based membership programme operated by SOFEA, a food and education charity.

Drawing on SOFEA’s food surplus operation, in partnership with FareShare, the Larders address food insecurity for those struggling to make ends meet. Members can save up to £150 on their monthly food bill.

community larderBut the Larders provide more than discounted food. Working with local partners in community centres and churches, Larders provide a space where people can meet knowing they will be treated with dignity and respect.  Additional support is available to address low-level mental health concerns, finance and debt advice, working with Nationwide to set up bank accounts and ensuring that members get the lowest tariffs on utilities. A digital inclusion programme is now also starting and there are plans to bring in employability courses to help people into work.

With Our Common Good’s funding and strategic advice, the scheme has grown from one larder to 17, with another 19 in the pipeline. Again, the aim here is to use a replicable model to inspire a larger roll out across other parts of country. As Paul explains, generating community collaboration and local pride is key to success for the Larders: 

“The membership scheme is vital so that people know they are not receiving charity. Instead they feel invested because they are participating in a fair transaction for their groceries while helping to tackle the issue of food waste. This creates a sense of pride in belonging to a Larder.”

What’s next for Our Common Good?

Since beginning just three years ago, Our Common Good has created and transformed social change projects in a number of communities across Britain. The concept is proving successful in highlighting that place-based regeneration requires a combination of philanthropic investment, strategic management advice, skills development, cross-sector partnerships and strong, durable networks. Moreover, the first £95,000 donated by John and Paul has leveraged a further £800,000 in funding from other sources.

The principle that really makes the concept stand out as a fresh approach to philanthropy is its commitment to curate community networks. This aspect lays the ground for project-based solutions to social problems to take root and flourish.

Our Common Good continues to work on its five current projects, providing funding, advice and connections to help them scale. John, Paul and executive director Paddy Radcliffe are now seeking donors, partners and collaborators to help them incubate more projects across the UK as part of their journey to take Our Common Good national and reinvent philanthropy for today.


Filed Under: Better Philanthropy

How businesses can inspire millennial philanthropy

May 21, 2021 by Beacon Admin

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How businesses can inspire millennial philanthropy

A ‘cheat sheet’ showing four actionable ways businesses can stimulate charitable giving from the next generation.

Download the guidance

Research published by Beacon Collaborative and Savanta in April 2021 filled a gap in knowledge about millennial philanthropy. The report revealed insights into the ways wealthy young people give and their attitudes towards philanthropy.

One revelation was that young people – who are still overwhelmingly in the money-making phase of their careers – feel anxious about giving big amounts of money to charity. However, they do show great enthusiasm for being engaged in philanthropy in ways which are convenient and are proportionate to their wealth level. Many participants told us they would value their employer making it easier for them to give.

Initiatives such a match-funding drives, payroll giving and strong business-charity relationships were celebrated by our young givers. Based on their feedback, we have collated a one-page ‘cheat-sheet’ for businesses, explaining four implementable steps they can take to increase millennial philanthropy.

Our research suggests that following these steps will lead to happier and more engaged young employees, who feel enabled and encouraged to embark on their philanthropic journey.

Filed Under: Better Philanthropy, Growing Giving, How to do it

4 ways tech can help first-time donors

May 10, 2021 by Beacon Admin

 

4 ways tech can help first-time donors

In the past few years there’s been an evolution in the way that we make charitable donations thanks to developments in data and tech.

According to Enthuse’s quarterly research study, 67% of the public say they are likely to give in the next 12 months. With this large percentage of people making a commitment to give, it is possible that we will see more first-time donors embarking on their philanthropic journey.

Navigating philanthropy and identifying the right causes to give to can seem like a minefield when you’re first starting out. But with the explosion of data and tech-powered tools, there’s a light at the end of the tunnel. 

Here are four ways data and tech can help you to get started on your philanthropy journey.

 

1. Empowering anyone to be a donor

Philanthropy has often been considered an activity for the rich and retired, but the rise in digital giving platforms means it’s now for everyone. Platforms like Just Giving, Virgin Money Giving and Localgiving make it easier than ever to donate money digitally, while many charities also have their own online fundraising technology.

virginmoneygivingThese platforms are also responsible for a shift in the way we define philanthropy. While many of us might think of philanthropy only as donating large sums of money regularly, digital platforms are making giving more accessible to everyone – no matter their budget.

Alliance magazine reported that in 2020 giving grew by 10% in the US, thanks to an increase in small donors. Perhaps we will see the UK follow this trend. With online donation platforms philanthropy can be big or small, frequent or infrequent, and most importantly, it can reach all new demographics.

New giving platforms can allow you to dip your toe in the water by starting your giving at a lower, more manageable amount and increasing as and when you feel comfortable to do so.

 

2. Identifying the right causes to support

When you start your giving journey, it can be difficult to know what causes you should focus on. Do you support the causes closest to your heart? Or do you look at the data for funding shortfalls in specific areas?

brevioLuckily, there are now a number of platforms and services that can help you decide where to direct your focus. For example, Brevio – a grant-building platform – has a range of research tools which let philanthropists set up their own fund and gain real-time insights on where the current funding need is.

Corporate giving platforms like Benevity, Neighbourly and Semble showcase charitable projects that are looking for funding. And for comprehensive data on current funding needs, New Philanthropy Capital has developed a data dashboard that captures the locations most affected by Covid-19, as well as the level of demand for charities across the UK.

Using innovative solutions like these can show you which areas are currently underfunded and/or overwhelmed with demand for their services, ensuring you support places which will most value your contribution.

 

3. Providing better oversight & accountability

In recent years, there’s been a strong trend towards greater transparency and accountability for charities. In the US, platforms like Give Well and Charity Navigator provide detailed ratings on charities by assessing data on their programs and impact to help users find trustworthy charities to support.

charity commissionLocally, the Charity Commission’s online register provides detailed information on all charities registered in England and Wales, including financial details. You can find similar information on charities in Northern Ireland via Charity Commission NI and via OSCR for Scotland. 

If you’re thinking about supporting a particular charity, it’s always good to do your research beforehand and these digital registers make it much easier.

Feeling comfortable that charities are using your contributions responsibly is one of the biggest factors for a good giving experience. Refer to the Charity Commission’s website for clear and direct financial data about charities you wish to support.

 

4. Tracking the difference you make.

Better data is providing greater opportunity to track the impact that your funding has made. Organisations like 360 Giving are leading the way in sharing data within the third sector. Through collecting and publishing data on what was funded, 360 Giving has established the #OpenGrants movement. This helps philanthropists see where their funds are going and where funding might still be needed. 

From the charity perspective, So Give is another platform that aims to measure impact across the sector. So Give helps charities track their own impact and provides information on what impact your funding actually makes. For example, their research shows exactly how many children are able to be treated with anti-malaria medication based on the amount of money donated to the Malaria Consortium.

Ambiguity around the impact of your donation can lead to unfulfilling giving experiences. Exploring independent services like 360 Giving and So Give will allow you to draw the cause and effect line for your philanthropy.

 

What does the future hold for tech in philanthropy?

This is just the start of how tech and data can help first-time donors. The tech space is evolving and innovating at a rapid pace. The explosion of new platforms for digital fundraising, corporate giving and grant applications is helping to build an online ‘funding marketplace’.

While usually it is up to charities to search for and apply for available funding, newer approaches are emerging which will give charities the chance to showcase their projects and their funding requirements to potential funders. This inverse approach lets potential funders and first-time donors be more proactive in their giving by seeking out charities they’d like to partner with.

Perhaps in the future we will see the funding marketplace develop a ‘Netflix-style’ solution where users can browse and fund projects based on common interests and categories. With tech and data pushing the boundaries in the third sector, first time donors have an abundance of tools at their fingertips to help them get started on their philanthropic journey.

 


About Brevio

Brevio empowers the charitable sector to achieve more. We automate the initial steps in grant applications, to free up hundreds of millions of pounds every year in administration. We’re a matching platform that links funders and charities based on the impact they both want to achieve. Find out more about Brevio here and follow @hellobrevio on Twitter for updates.

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Filed Under: Better Philanthropy, Growing Giving, Guest voices, How to do it

Meet the experts engaging millennials in philanthropy

April 16, 2021 by Beacon Admin

 

Meet the experts engaging young wealth holders in philanthropy.

A new generation of young wealth holders is becoming increasingly aware of the amazing role charitable giving can play in making change happen. In fact, Beacon research recently identified that the millennial age group had the highest median donation level of any demographic at the start of the UK’s first lockdown.

Despite this, most wealthy millennials are still at the start of their giving journey and many lack the experience and confidence to take their giving to the next step. With this in mind, new organisations are helping millennials to bridge the knowledge gap and develop a greater understanding of philanthropy.

We spoke to Yasmin Ahammad, Jade Brudenell and Kydd Boyle to learn about the giving barriers of young wealth holders and how these can be overcome.


Yasmine Ahammad, Climate Advocacy and Philanthropy Manager, Impatience Earth

Impatience Earth offers philanthropy advice services pro-bono to wealthy individuals and foundations who are new to funding climate causes or looking to increase their giving to the climate sector. While not explicitly targeted at the younger generation of donors, their combination of education, advice and peer-to-peer support is particularly resonant for those looking to take their first steps into giving.

How do young wealth holders engage with the course?

Like donors of any age, we encourage younger clients to spend time building up their confidence and expertise around the climate crisis so they can make informed decisions on how to channel their funding in a way that feels meaningful and impactful to them. We help them learn about the climate emergency and how their money can lead to significant positive change through workshops, meetings with experts and introductions to co-funders. Part of our approach is to help donors explore how climate change compounds existing social inequalities, and young people seem to be particularly adept at understanding this.

We have also noticed that younger donors are excited to work in peer-to-peer learning networks and to share ideas. If we can encourage them to create lasting peer networks, we think this will lead to a sustained uptick in climate philanthropy.

Are there barriers to engaging young donors in climate philanthropy?

The most common barrier is that they are initially overwhelmed by the scale of the climate crisis. When young donors see the amount of work required to mitigate the effects of climate change, they often wonder if their donation will simply be a drop in the ocean.

This concern is usually overcome when we show them the inspiring real-world impacts that even a relatively small donation can have. Once they understand this, their despair turns to optimism and a ‘roll your sleeves up’ attitude. This is why it is so essential to demonstrate impact for people early-on in their giving journey; they need to know they are making a difference in order to continue giving.

What pointers would you give to young people looking to get involved in philanthropy?

You have the opportunity to play a catalysing role in making change happen. It’s far easier to start giving than you think and you don’t have to do it alone – there is plenty of help out there, including our pro-bono support. There is the opportunity to engage with peers of your age-group who are on the same journey. 

Also, there is a misconception that you need lots of money to make a big difference – this isn’t true. Even small, regular contributions can support incredible climate-saving initiatives, especially in the Global South. And it’s better to start now and learn along the way – the biggest risk is doing nothing at all.

Visit Impatience Earth – Yasmin Ahammad on Twitter


Jade Brudenell, founder, The Conservation Collective

The Conservation Collective is a network of funds around the world which are using philanthropic donations to help protect and preserve the natural environment. They exist to enable local communities to maximise their positive environmental impact.

How do you get young wealth holders engaged in conservation?

Many young donors have never given to the environment before. If you suggest getting involved in, for example, stopping deforestation, they often think “wow, that’s huge. That’s a job for the UN, not for me.” But if you say “have you noticed a lack of insect life in your local area?” they start to become intrigued and far more receptive.

It’s the visual, small-scale initiatives that make early-stage donors want to get involved, because they can envisage that their money will have an impact. A good example is something like a seabin, which goes into a port and collects rubbish from the surface of the water. Even though its impact is nominal and its use is typically more to do with raising awareness than true conservation net gain, it’s a fantastic way to begin conversations with new donors.

We see ourselves as a gateway drug, attracting donors with ‘quick-win, small-scale’ projects and guiding them down the road to more strategic and long-term programmes designed for systemic impact.

Are young donors more hesitant around giving money?

It depends on each giver’s personal situation. That said, the younger group is definitely an interesting one. One of our funds currently under development is looking at the possibility of setting up a young donor sub-group. This is because many young donors want to get involved in causes but don’t yet feel they can give much money.

The sub-group will look at other ways they can contribute while donating a more modest amount of money. A lot of the time, young people don’t realise that abilities they have developed at university – say accountancy or law – can also hold huge value for a network like ours. The idea is to get people involved at a level they feel comfortable with, and develop long-term, highly fruitful relationships which contribute considerably to conservation efforts.

Visit Conservation Collective – Conservation Collective on Twitter


Kydd Boyle, co-founder, Horizons 

Horizons is a global network of millennial investors looking to connect, share opportunities and have impact together. With most of the community coming from wealth-owning families, many in the network want to integrate positive social impact into their own investment and leadership style. They are keen to learn from experts and from each other, as they recognise that they have outsized potential to have a positive impact on society.

In your experience, are young donors focused on a specific issue?

There are a range of different interests between our members, but the common denominator is the desire use their wealth for good. Taking a meta-view, I would say mental health, decarbonisation and diversity are the most poignant themes for our community members. 

What works to engage young wealth holders in philanthropy?

We believe in encouraging people to understand their own values and the issues that are most important to them, and then empowering them to feel like they can be a part of the solution. Too often individuals are reactive when it comes to their philanthropy not proactive, this can lead to a sentimental rather than strategic decision-making process – which ultimately limits the scale of their giving. 

What is the biggest barrier to young people giving?

Few of our network members have the autonomy to give away meaningful sums from their own pockets – it is largely money from a family fund that they are distributing. Sometimes there are competing priorities between the older generations of the family and the young donors, so that can be tricky.

There are still many young and wealthy people who are not really doing anything philanthropic at the moment. That’s not because they don’t want to, but because they don’t know the first step to take. In my mind this is a huge opportunity for the charity sector to build new and effective long-term engagement strategies for potential donors. Getting this right would bring infinite possibilities. 

What lessons should young wealth holders learn to get more involved in philanthropy?

Meeting a peer group is absolutely vital for both philanthropy and investing. If you go it alone, it can feel like you’re venturing out into the wilderness and it’s difficult to know who to trust. Becoming part of a community allows you to build relationships with people that have shared interests and circumstances. Try to lean on friendship to lean into philanthropy. This builds lasting foundations and an intent to do more – together.

A good example of this is Big Change, who we recently partnered with. Founded amidst the London riots, a group of six millennial philanthropists threw ideas at a white board for how they could genuinely help. They quickly concluded that education was the root cause of all the inequity they saw around them and began a shared mission to look at the problem differently. After false starts, pivots and lessons learned, today Big Change invests in nascent educational ideas and organisations that have the potential to change the sector. To me, this exemplifies the impact young donors can have when working together.

There is an oft-quoted proverb, “If you want to go fast, go alone, if you want to go far, go together”. My biggest piece of advice for prospective young donors is to connect with like-minded individuals and hatch plans together.

Visit Horizons – Kydd Boyle on Twitter


These examples highlight that while young wealth owners may have a strong interest in social impact, they still need support and help to realise their potential. The future of philanthropy is in their hands and meeting their needs for knowledge, peer support and tangible impact is an investment in that future.

On April 22nd, Beacon is launching brand new research into the attitudes of wealthy millennials towards philanthropy. Find out more and join the launch event here.

Filed Under: Better Philanthropy, Growing Giving, How to do it

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