Philanthropy not just for the wealthy
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 $19bn 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 and 1 in 20 said they expected to donate more than $5,000.
Equity Trustees surveyed more than 1,000 Australians and found 96% of them had donated money to charity over the past year.
“We often hear about philanthropy among the super-rich, but philanthropic giving is no longer just for the wealthy,” says Equity Trustees’ Business Development Manager of Philanthropy, Denise Cheng.
“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.”
Ms Cheng adds that 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 to a cause and a desire to make a difference.
Equity Trustees General Manager, Philanthropy and Community Trustee Services, Jodi Kennedy, adds, “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.”
“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 is helping more Australians to participate in structured giving by offering a new way to set up their own 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 a philanthropist 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,” says Ms Kennedy.
Ms Cheng adds, “The ECF offers a way to give that goes beyond one-off donations. 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.”
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 granting 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,” says Ms Cheng. “It provides an easy and affordable entry point to becoming a philanthropist.”
The online Equity Trustees Philanthropy Portal also provides transparency and easy access to giving, she says. This accessibility is common in the US, where the technology underpinning our portal originates.
“Equity Trustees is providing access to Australia’s leading philanthropic expertise – with real time visibility at your fingertips. Anytime, anyplace.”
Survey conducted in December 2024 by Equity Trustees of more than 1000 Australians who give also showed that:
*Redefining Giving is Equity Trustees’ new national campaign, focussed on social media to get the conversation going, spotlight structured giving and what it can mean, and ultimately give everyone an opportunity to be a part of redefining how Australians give. More at www.redefininggiving.com.au.
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Media Enquiries
Alicia Kokocinski
General Manager – Marketing & Communications
+61 03 8623 5396 / +61 403 172 024
Equity Trustees was established in 1888 for the purpose of providing independent and impartial Trustee and Executor services to help families throughout Australia protect their wealth. As Australia’s leading specialist trustee company, we offer a diverse range of services to individuals, families and corporate clients including asset management, estate planning, philanthropic services, superannuation trusteeship and Responsible Entity (RE) services for Fund Managers. Equity Trustees is the brand name of EQT Holdings Limited (ABN 22 607 797 615) and its subsidiary companies, publicly listed company on the Australian Securities Exchange (ASX: EQT) with offices in Melbourne, Adelaide, Sydney, Brisbane and Perth.