You probably know that The Rich List was published in today’s Sunday Times.
Everyone likes to look at the list. They like to read about people, whose names they recognise, and see what they are really worth and how others, who we may not have heard of, have made their millions. Im sure a lot of professions look at the list and wonder how they can engage these wealthy individals and families in their business. It is no different for the charity sector. I imagine nearly every fundraiser in the UK and Ireland has gone out today to buy the list and is thinking …..how can we get them engaged in our organisation! Its a good question to ask but bear in mind every other fundraiser in the country is asking it! Aside from being a good read it is a useful resource to have and worth having.
The list is going to be online on Tuesday, you can check it out here.
Once again it is great to see they have written about Philanthropy. And while the data in the report relates to financial year ending on April 5, 2008 , it makes for good reading. Here is some of what they had to say:
- the talk in the economy is on providing ‘fiscal stimulus’ those in the list seem to have taken a similar approach to their charitable activities
- the top 100 philanthropists have brought their charitable spend up 8% on 2008
- The top 30 givers have donated at least 4.5% of their wealth
- Dr. John Low of CAF says “Poeple value charity more in a severe downturn”
- Low also remarks that while income may fall in some areas but “mechanisms such as trust funds will keep the flow of cash going”
- Mark Evans, head of Philanthropy at Coutts & Co. makes an important point, he says “I have been bullish about the state of philanthropy through the recession. People might be worth less now than before, but they still want to give”
- Karin Jestin of Lombard Odier believes there will be a shift in focus away from the arts and culture and more towards causes that address human and social needs
My favourite quote in the whole article comes from Dr. John Low of CAF. I couldnt agree more with him so I am going to end with it:
“It is important that charities do not talk themselves into recession”
Original reporting from Sunday Times by Alastair McCall