In this time of exploding interest in philanthropy throughout the world, many new platforms are being developed to help donors maximize their social wealth. One such platform was recently created by wealth management firm, Guardian Trust. Last month, it launched a new initative to link philanthropists with charities. The new Centre for Philanthropy will allow clients to identify charities and programs that are aligned with their charitable goals. Charities are invited to sign up and explain their strategies, programs and financial situations in detail. Clients are then provided access to this ‘knowledge database’. Perhaps this is a version of the Guidestar in the US but for client-access only?
According to the article, Guardian Trusts manages more than 450 charitable trusts and disburses $26 million each year. They made grants to 530 charities over the past three years.
In New Zealand, $1.4 billion a year is donated to charity, according to a BERL study. Further reading on the firm’s philanthropy research found that trusts play an important role in philanthropy in New Zealand.
Whereas the majority of philanthropy (some 83 per cent) in the US is undertaken by private philanthropists (compared with 35 per cent in New Zealand), trusts – whether family or individual trusts, community trusts or other independent voluntary and statutory organisations – make up 58 per cent of philanthropic giving in New Zealand compared to only 12 per cent in the US. Private philanthropists in New Zealand are often in a position to begin a charitable trust that will provide for the particular cause and beneficiaries they wish to support long into the future.
Photo courtesy of James Jordan.