Equity Trustees surveyed more than 1,000 Australians and found 96% of them had donated money to charity over the past year.
Australia has been ranked the fourth most generous country among 119 countries, with three in five Australians making a financial donation to a charity, according to the Charities Aid Foundation (2022) – with the data from the ACNC reporting a total of $19 billion in donations and bequests in 2023.
Of those who donate in the way most do (on an ad hoc basis), the average annual donation totalled $580 per taxpayer, according to recent research commissioned by Equity Trustees. Some gave more, with people on higher incomes averaging $850 and those with religious affiliations averaging $720.
This was despite over half (52%) of people saying the cost of living and managing other financial priorities was a barrier to them donating. Looking forward, 3 in 20 people said they plan to donate $1,000 or more in the next 12 months, while 1 in 20 said they expected to donate more than $5,000.
“We often hear about philanthropy among the super-rich, but philanthropic giving is no longer just for the wealthy,” said Denise Cheng, Equity Trustees Business Development Manager of Philanthropy. “Despite the cost-of-living crisis, we are seeing that more Australians than ever are looking to give, and this is driving an increase in philanthropic activity. Another reason for the increase in philanthropic giving is that it has become more accessible, with new technology and online platforms.”
According to Cheng, while tax deductions are an attractive benefit of donating to charity, the Equity Trustees research found the main motivators for Australians to give to charity were around personal alignment with a cause and a desire to make a difference.
“We know that many Australians are keen to make a difference in the world through charitable giving, regardless of how much wealth they have at their disposal,” commented Jodi Kennedy, Equity Trustees Manager, Philanthropy and Community Trustee Services. “That’s why we believe it’s time to redefine what giving looks like – by offering a smarter way to make lasting change that’s accessible to more people.”
New portal launches
Equity Trustees helps more Australians participate in structured giving by offering a new way to set up their sub-account in the Equity Trustees Charitable Foundation (ECF), a public ancillary fund. The ECF is powered by the Equity Trustees Philanthropy Portal, enabling people to become philanthropists with just $5,000.
“They can give their account a name that resonates with them – perhaps after someone they care about, or something aspirational to them,” Kennedy said.
The ECF offers a way to give that goes beyond one-off donations, as it enables individuals to establish a tax-effective giving structure that harnesses the power of investment to deliver greater, long-term impact.
“It is a way for people to start giving now and watch their contribution grow while continuing to support the causes they care about well into the future,” Cheng added.
The online Equity Trustees Philanthropy Portal provides easy access to each giving account, while Equity Trustees deploys its 145+ years of experience to take care of the investment, compliance, governance and administration. Equity Trustees manages more than 1,200 charitable trusts and foundations and distributes more than $100 million of philanthropic grants to charitable causes annually.
“The goal of the portal is to make philanthropy accessible, affordable, self-directed and tech-enabled so more Australians can give sustainably to change tomorrow,” Cheng explained. “It provides an easy and affordable entry point to becoming a philanthropist.”
The online portal also provides transparency and easy access to giving. This accessibility is common in the US, where the technology underpinning the portal originates.
“Equity Trustees is providing access to Australia’s leading philanthropic expertise – with real-time visibility at your fingertips anytime, anyplace.”
The Equity Trustees survey of more than 1,000 Australians who give, conducted in December 2024, also showed the following:
Read also: Tech wealth is set to power multi-billion-dollar philanthropy shift
Geraldine is currently the Content Producer for Third Sector, an Akolade channel. Throughout her career, she has written for various industries and international audiences. Her love for writing extends beyond the corporate world, as she also works as a volunteer writer at her local church. Aside from writing, she is also fond of joining fun runs and watching musicals.
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