Inspiration from across the ditch to unite to drive up giving
By Emma Wethey (Policy & Research Manager) and Emily Hollis (Policy & Research Assistant)
Philanthropy New Zealand | Tōpūtanga Tuku Aroha o Aotearoa has been actively raising the need to collaborate on an action plan to drive up giving in Aotearoa with future Government representatives. This is outlined in our own statement as well as a collaboration with other community sector bodies, coined Funding Fit For Purpose.
Whilst our country always rates highly in generosity index research (such as that published by the Charities Aid Foundation), we cannot afford to be complacent. We are seeing evidence that the proportion of mass donors in the population is actually decreasing. An accompanying trend of current givers giving more, may mask this situation.
We also know from our recent research that there is a high demand for the current pot of philanthropic money given the current need in our communities, and that the inability to fund a large chunk of requests is a pressing challenge for the sector.
Meanwhile there are increasing numbers of wealthy people with the capacity to give, and the largest inter-generational transfer of wealth in modern history currently underway. There is also real potential within the corporate sector for greater giving with the right incentives and support.
Given the number of levers that sit within Government policy, regulatory and taxation frameworks, they are a critical partner in identifying and supporting some high impact action areas alongside the philanthropy and grantmaking sector, as are innovators and leaders in the corporate sector.
We’ve been inspired in our approach by Philanthropy Australia’s “Strategy to Double Giving by 2030,”. At the Philanthropy New Zealand conference last month, Jack Heath, Chief Executive Officer of Philanthropy Australia outlined the key actions that they would be championing to achieve the aim of doubling giving.
Broadly, these focus on changing the culture around giving, and removing barriers for individuals to leave gifts through tax incentives and growing bequests. This will include launching a National Giving Campaign, underlining the notion that Australia is a nation that wants to and does give. Creating cultural shifts through incentivising the top end of Australian society to give is also as a key aspect of unleashing funds. And there is more power to be realised in the promotion of support for local and significant causes.
Providing an option to Australians to bequest some of their unspent superannuation funds to a nominated charity whilst removing the tax penalty and administrative hurdles to do so is another example. As is extending deductible gift recipient status (similar to our donee tax status) to all charities.
New Zealand will have its own set of possibilities, based on our particular settings. PNZ has already identified some ready wins, such as awareness raising campaigns about claiming and redonating donation tax credits and including gifts in wills, charities being able to receive refunds for imputation tax credits, and education and training for key financial and legal advisors around the benefits of philanthropic giving and impact investing that they can share with their clients.
We will be engaging with the new Government to develop a structured plan of actions. Watch this space!