Intergenerational Transfer of Wealth

Seer’s data science team has developed a dataset to understand and estimate the likely transfer of private wealth by SA2 across Australia from 2016 to 2060 in five year intervals.

This is now being used by organisations for strategic fundraising and marketing, targeting, sales and storytelling. The wealth transfer data has been mapped across Australia and included in the Philanthropy Australia’s cross-sector strategy document ‘A Blueprint to grow structure giving – how Australia can grow structure giving by 2030‘.

The Intergenerational Wealth Transfer dataset can also be expanded to include additional information such as small business and demographic data.

The Seer Giving Index

Our data lab has expanded this data set by conducting an analysis to understand the relationship between volunteering and giving.

What is the relationship between volunteering and giving?

Is this relationship stronger in wealthier areas?

If there is a relationship, then:

Can we identify the most generous places in Australia that also have the highest capacity for wealth transfer?

What we learnt was that areas with volunteering have higher rates of charitable donations and that the relationship is even stronger in wealthier areas. Our analysis suggests communities are expected to exhibit an additional 3.5% rate of giving for every additional 10% rate of volunteering. Communities with SEIFA Index of Economic Resources (IER) in the top 3 deciles are expected to exhibit an additional 4% rate of giving for every additional 10% rate of giving.

Access to the Seer Giving Index is available as part of Seer’s free Standard subscription to help organisations understand a community’s propensity to give using an easy to interpret 1-10 index.

What you can do with this data set and index:

• Discover areas with the greatest wealth transfer and propensity to give using an easy to understand 1-100 index
• Build an evidence base to aid your fundraising efforts with Open Data in Seer
• Discover what areas are more likely to volunteer
• Discover what areas have the greatest potential for wealth transfer
• Target your communications, fundraising and program efforts effectively
• Customise the index further with business and health indicators

Who is this data science work helping?

The Intergenerational Transfer of Wealth data science project has helped many communities and organisations, including;

• Seer worked with Into Our Hands Community Foundation to help aid philanthropy in North-East Victoria read more about our work together here
• Seer’s data science team has conducted an analysis for Philanthropy Australia and Social Ventures Australia (SVA) for their Blueprint to Grow Structured Giving – How Australia can double structured giving by 2030

Background

Seer Data Models & Machine learning Collections are created by our data science team. Our strategy is to create valuable datasets and models that help to answer a complex question and make this work available to many.

• Intergenerational Wealth Transfer Estimate & Propensity to Give “Giving Index” by Statistical Area 2 (SA2)
• Similar Communities Model for policy making, planning and delivery of services and insight for Government
• Population Forecast Model for planning and delivery of services • Supply and demand modeling for access to Quality Early Education and Care for policy and advocacy

Request more information or book a personalised video presentation for your organisation: