Sharing is caring
Australia’s philanthropists are giving more than ever. So what motivates an individual to donate to charity, and how has our nation’s culture evolved as a result?
According to the Good2Give report*, an estimated two thirds of individuals in Australia have given money in the past 12 months (to March 2019) either by giving money directly to a charity, by giving to a church/religious organisation, or by sponsoring someone.
Furthermore, the typical (median) amount donated or sponsored in the past four weeks is $80 and average (mean) $378.
The Good2Give report lists the majority of Australians feel that charities have had a positive impact, with women in particular thinking that they have had a positive impact on their local communities and on Australia as a whole.
Australia’s philanthropists are giving more than ever. What’s more, in recent years people have become far more open and celebratory about their giving — triggering a cultural shift and leading people to question how they could better use their resources for a more fulfilling outcome.
The Giving Pledge
In 2010, Bill and Melinda Gates and Warren Buffett created a group called ‘The Giving Pledge’ for the world’s wealthiest individuals and couples to join together and commit to give more than half of their wealth away.
It came about with philanthropists discussing how they could set a new standard of generosity among the ultra-wealthy. And some of Australia’s wealthiest, including Leonard Ainsworth and Andrew Forrest have made the pledge. So far, there have been 170 pledges across 21 countries.
Is sharing your wealth an important part of your financial plan? Then make sure you discuss your aspiration to give with your financial adviser.
* Good2Give ‘Australia Giving 2019: An
overview of charitable giving in Australia