10th anniversary of Coutts’ Million Pound Donors Report reveals highest value and number of charitable donations gifted in 2016 (£1.83bn donated via 355 gifts) – Higher education and foundations receive the most
A total of almost £15bn in large £1m+ gifts has been donated by individuals, foundations and corporations over the past decade. This is broken down into 2,416 gifts and was distributed among 913 different charitable organisations.
These are the findings of the 10 year anniversary of the Coutts Million Pound Donors Report, produced in association with the University of Kent, which tracks the number, size, source, and destination of £1m+ donations. Designed to celebrate and inspire philanthropy, the report also includes interviews with major donors including Rory McIlroy, Sir Terence Conran, the Coutts Foundation, Gordon Roddick, Liccy Dahl and Sir Paul Ruddock.
Analysing key trends in major philanthropy over the past ten years, the report shows that there has been a boom in philanthropy since the financial crisis, with a record high of £1.83bn donated in 2016, and the number of donations of £1m+ is up by two-thirds over the decade. There has also been a surge in corporate giving, with the total value of corporate donations rising from just under £50m in 2006/7 to over £500m in 2016 – an increase of over 900%. The total number of donations of £1m or more from corporations has also risen by 282% (from 17 in 2006/7 to 65 in 2016).
London retains its position as the hub of major philanthropy in the UK. However, the biggest and most consistent rise in the total value of donations has been in the North East although donations came from almost every region of the UK. Also, the number of donations to UK based charities, from donors located outside the UK has increased ten-fold since the report began – from 3 to 30. The total value of these donations has increased by over 2,500% – from £9.8m in 2006/7 to £263.5m in 2016.
Lenka Setkova, Executive Director, Coutts Institute said: “While mega-gifts (donations of £100m or more) tend to attract the headlines, £1m is the most common donation. Giving exactly one million appears to be economically and psychologically a significant figure, which resonates with both donors and charities. Our report also shows that universities received the highest number of donations of £1m or more (600), while foundations received the highest total value at £5bn. This reflects a trend we see at Coutts with an increasing number of clients using our philanthropy services to establish charitable trusts so that together with their family, they can make a difference to the causes they care about.”
The research also shows that in 2016, while the number of donations dipped to 310 (from 326 in the previous year), the overall value increased by £70m due to the higher average donation value and the higher than the usual number of donations over £25m. While a majority of donations came from London-based funders, Scotland, East Midlands, West Midlands and North East saw the highest total value since the report began.
After a drop in donations in 2015, health as a sub-sector bounced back significantly in 2016 to receive almost double the amount when compared to the previous year, with 27 donations with a combined value of £94bn. Also of note were the ten donations to the ‘Garden Bridge’ project in central London which was controversially withdrawn.
Dr Beth Breeze from the Centre for Philanthropy at the University of Kent, the co-author of the UK report, commented: “Philanthropy affects the lives of everyone because most people give some money or time at least once a year, and because we all benefit from the gifts of past and present donors. A better understanding of the size, source and destination of the biggest gifts is especially useful in a time when the role of philanthropy is widely debated, and the label of ‘philanthropist’ prompts cynicism and cheers in, at best, equal quantities. We began this research project at a time when knowledge of million pound donations was mostly anecdotal. Ten years on we are proud to have created a strong base of knowledge and insight into major donation motivation, which I hope will inspire others to begin or accelerate their philanthropic journey.”
Number and value of the UK donations since the inception of the report
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