We define philanthropy as the giving of resources in an engaged and strategic way for maximum impact and in a tax efficient manner. It can include the giving of money, assets, time, talent, voice and one’s social capital. We believe in the power of philanthropy as a great social connector and the source of many great opportunities.
Venture philanthropy pioneer Impetus Trust has received a £310,000 grant from the government Social Action Fund to create more opportunities for high-level volunteers to give their skills.
A new report shows that philanthropy is alive and well in the City with the top 10 UK law firms donating £5m cash and eight times as much pro bono to non-profits last year – a total of £50m.
The 136-page report from Factary, a research services organisation for non-profits, shows that law firms’ community responsibility policies favour education and training, housing and employment, and rights/law and conflict. By contrast, it found that publicly reported donations are focused on health, children/youth and arts.
Corporate philanthropy is becoming increasingly strategic and widespread and will become even more visible in the coming years said London’s Lord Mayor David Wootton at the launch of the 25th annual Lord Mayor’s Dragon Awards that celebrates the best community engagement programmes run by Greater London businesses.
Exactly half of the companies examined in a new US report on global corporate giving gave more in 2010 than they did before the economic downturn and one quarter of companies increased giving by more than 25% since 2007.
The US-based Committee Encouraging Corporate Philanthropy (CECP), which published the report, says: “The polarity of corporate responses since the downturn reflects the myriad ways in which corporate giving programmes react to economic uncertainty, growing community need and budget setting processes.”
by Nicola Hill and Cheryl Chapman
The recent launch of two organisations is pointing to a new appetite for ethics, social responsibility and philanthropy among the next generation of bankers and financiers.
Last week the Young Philanthropy Syndicate launched with the aim of encouraging young professionals into philanthropy with the support of an experienced philanthropist or business leader.
A step-by-step guide for corporate funders has been published by think tank New Philanthropy Capital. Much of the advice in the guide applies to both corporate funders and individual philanthropists.
Large companies are focusing more on in-kind donations, which fit their own business objectives, according to a report by Deloitte, the business advisory firm.
More than just giving says that while corporate responsibility is still essentially philanthropic, it is becoming increasingly strategic. Factors which are being taken into account include the need to improve employee retention, attracting new markets and enhancing reputation.
Lloyd Dorfman CBE, Travelex founder and chairman and National Theatre board member has pledged a personal philanthropic gift of £10m to the National’s NT Future redevelopment project. The donation will form the cornerstone of the £70m fundraising campaign.
In recognition, the Cottesloe Theatre will be renamed the Dorfman Theatre when the redevelopment programme is completed.
