A blueprint to double structured giving by 2030 has been unveiled by Philanthropy Australia. The visionary report provides a roadmap to grow Australian philanthropy from $2.5 billion to $5 billion per year.
The result of months of research, conversations and collaboration with leaders in the philanthropic and not-for-profit sectors, the report was initiated by Philanthropy Australia and led by the philanthropic sector as a whole.
The blueprint includes Seer’s Intergenerational Wealth Transfer data science work. This data science project seeks to understand and estimate the likely transfer of private wealth to help with endowment building, major gifts and bequests planning.
Watch the recent fireside chat we hosted with sector leaders on the Intergenerational Wealth Transfer dataset and how it’s helping communities with their philanthropic planning and bequest campaigning:
Changing Australian philanthropy
Philanthropy Australia’s blueprint marks stage 1 of a process that will span the next decade. The next stage will involve building a broad coalition of support behind the goal and fleshing out the details of the initiatives, so that implementation can begin.
The blueprint has been released at a pivotal time for Australian philanthropy, with an unprecedented transfer of $2.6 trillion in intergenerational wealth to be passed from baby boomers to their children in the next two decades, and corporate giving at an all-time high.
Three key strategic priorities are mapped out in the document to grow giving – protecting the foundations of philanthropy that work well today, enhancing the building blocks of giving in Australia, and targeting specific opportunities with high potential to grow giving.
The strategic priorities are underpinned by ten key initiatives, including removing barriers to donating excess superannuation, reforming the DGR framework, introducing a Living Legacy trust structure and cutting red tape to enable more place-based philanthropy.
Read more about Seer’s Intergenerational Transfer of Wealth data science and how it may be able to help your community.