Major donors 'will continue support in recession'

A Philanthropy UK report says some major donors will even increase their support for charity during the economic downturn

Major donors will remain committed to supporting charitable causes with some likely to donate more during the recession, according to a report out this week.

Interviews with philanthropists and their financial advisors, published in an article on philanthropy advice website Philanthropy UK, reveals that some major donors will give more to domestic causes during the economic downturn because of an increase in need.

Others say they intend to continue giving at the same rate in order to fulfil long-term strategic goals.

The £10.6bn Question
report claims that feelings of panic in the sector are not being mirrored by donors, but they are being more cautious. Philanthropists are likely to change the way they give rather than the amount and they will be more focused on the impact made by organisations as well as how efficiency they operate, the report suggests.

Charities are advised that philanthropists will be looking for greater accountability and transparency. They must be clear about their mission and focus on organisational development and governance while reducing unnecessary costs and diversifying funding sources.

The report also says that most philanthropic giving comes from funds already set aside in trusts and foundations and that these will continue to yield throughout the slowdown, providing a stable income stream for charities.

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