Giving Advice: Home page

Giving advice: a guide for philanthropy advisors, developed by Philanthropy UK and The Society of Trust and Estate Practitioners (STEP), two of the UK's leading providers of philanthropy advice, offers essential information in one place.

It provides a comprehensive ‘one-stop’ guide for private client advisors to more effectively support their clients’ philanthropic aims.

The step-by-step guide includes a framework for advising clients on philanthropy, case studies and key questions and answers, with signposts to more detailed information and other helpful resources.

It is designed to support private client advisors of all types – encompassing a wide range of individuals and firms, including private bankers, wealth managers, trust and estate lawyers, accountants, trust and family office managers, financial planners, and family business consultants.

The Directory of Philanthropy Advisors lists organisations and individuals offering philanthropy advice in the UK, Europe and across the globe. Each listing features details of services offered and the fees charged, if any. Philanthropy UK in no way endorses advisors listed and provides the listing for information only.

Advisors can add their details to the directory by clicking here and filling in the simple online form.

We would be glad for your feedback to help us ensure that this resource can continue to be a useful guide and valuable source of support for you. Please do get in touch!

"This new website for advisors is excellent. It is clear, simple and easy to navigate - and, most importantly, has the right content to support any advisor, whether experienced or otherwise, who aims to give high-quality philanthropy advice to their clients."

- Rebecca Eastmond, UK Head of Philanthropic Services, JP Morgan Private Bank

Introduction

This website is designed to support private client advisors of all types – encompassing a wide range of individuals and firms, including private bankers, wealth managers, trust and estate lawyers, accountants, trust and family office managers, family and community foundations, financial planners, and family business consultants.

It is developed and managed by two of the UK's leading authorities on philanthropy and private client advisory: Philanthropy UK and the Society of Trust and Estate Practitioners (STEP).

The last ten years has seen a sea change in philanthropy in the UK. More wealthy people are giving, and more are seeking professional advice on how to give effectively. Even in these changing times, philanthropists remain committed to their causes, knowing that this is the when charities especially need their support.

Offering philanthropic advice helps you to build strong relationship with your clients, as it addresses an area of clients’ lives that they are passionate about. It also can help attract and retain clients by expanding the menu of services you offer them.

This website aims to help private client advisors more effectively support their clients’ philanthropic aims. Until now advisors have had to search many and varied sources for information on philanthropy. This new resource provides all the information you need in one place, and signposts you to more detailed information and other helpful resources.

What is philanthropy?

We use the term philanthropy broadly, to capture the range of ways in which people can express a sense of social responsibility. This includes giving time and advice as well as money. It also includes ways to combine social and financial returns, such as through microfinance and mission-connected investment.

Your feedback

We would be glad for your feedback to help us ensure that this resource can continue to be a useful guide and valuable source of support for you. Please do get in touch

How to use this guide

This website is in four sections.

Section 1: Why talk to clients about philanthropy?. In this section we bust some popular myths about philanthropy advisory, and offer some food for thought.
Section 2: Asking the giving question. In this section we suggest a range of questions you can ask your clients to help get the ball rolling, based on typical questions from advisors.
Section 3: Giving philanthropic advice. This section guides you through the key elements of effective philanthropy advice.
Section 4: Advisors’ framework for effective giving. This section offers a process through which you can guide your clients to develop a bespoke giving strategy.

Why talk to clients about philanthropy?

"This resource will help us build a significant and potentially world-class market in philanthropy advice and encouragement and underlines the importance and responsibility of the wealth management industry in developing the business case for philanthropy."

- Jeremy Hunt MP, Culture Secretary

More and more wealthy individuals are becoming involved in philanthropy, but many simply don’t know where to start, and are turning to their trusted advisors for guidance on how to get started on their philanthropic journey.

In response professional advisors of all types are increasingly seeking to offer bespoke philanthropy services to their private clients, but often are unsure about what clients really want and what services advisors should provide. Over the next few pages we bust some popular myths about philanthropy advice, and offer some food for thought.

Myth 1

Myth: My clients are not interested in philanthropy

Fact: Well, you won’t know if you don’t ask... In fact, the last ten years has seen a sea change in philanthropy in the UK. The newly wealthy are increasingly using their wealth and business experience to create private foundations, start up or support emerging models in philanthropy, test innovative approaches to social issues, and volunteer their time and expertise. Even in these changing times, philanthropists remain committed to their causes, knowing that this is a time when charities especially need their support, and many are giving even more.

" Charities dealing with poverty in all its forms will need more resources in a downturn... It is important for donors to at least maintain their giving to combat these trends. "

- Steven Dawson, founding chairman of Impetus Trust

Myth 2

Myth: My clients do not want philanthropy advice

Fact:

Today’s philanthropists have an array of options for their giving, but many simply do not know where to start, and increasingly are turning to their trusted advisors.

Across Europe, 63% of advisors receive more requests for philanthropy advice now than two years ago¹; and most ultra high-net worth Europeans want advice, not just information, to help with their charitable giving². In the US, a significant minority of donors is already seeking advice on giving from accountants (26.6%), wealth advisors (6.6%), lawyers (16.4%) and banks or trust companies (8.7%).

In fact, clients initiate conversations with advisors about charitable giving as much as, or more than, their advisors³. Some common areas in which advisors help clients are setting up a charitable trust, advising on tax benefits, involving the family, and introducing clients to other philanthropist clients and to charities they might support⁴. Yet too few wealth management advisors are fulfilling their clients’ philanthropic needs.

¹ The role of wealth advisors in offering philanthropy services to high-net-worth clients, Scorpio Partnership, October 2008

² Philanthropy amongst Ultra High Net Worth Individuals and Family Offices in Europe: The United Kingdom, Switzerland And Germany, Scorpio Partnership, June 2007

³ Doing Well by Doing Good In California – Improving Client Service, Increasing Philanthropic Capital: The California Legal and Financial Advisor’s Role, The Philanthropic Initiative, 2003

⁴ Wealth and Philanthropy: the views of those who advise the rich, Philanthropy UK, September 2007

Myth 3

Myth: My clients would not want me to pry

Fact:

Like other sensitive issues on which you advise your clients, discussing philanthropy with your clients can be done unobtrusively, in a way that respects their privacy, values and independence. Of course, clients want advice on taxation and on the best vehicles for their giving. But giving is not just about tax. It’s about what’s in people’s hearts.

Helping clients to give effectively means taking the time to understand what they really want. And as various research demonstrates, what they want is professional advice on how to give more effectively, and to make a positive impact with their giving.

" It broadens our relationship with our clients, as it addresses an area of clients’ lives that they are passionate about. " wealth manager

Myth 4

Myth: Philanthropy advice does not provide a positive return to my business

Fact:

Offering philanthropic advice can help attract and retain clients by expanding the menu of services you offer them. As we can see from the research (see Myth 2), more wealthy clients are becoming philanthropic, and are increasingly seeking professional advice for their giving.

Many wealthy people already have more than one advisor and those who offer the better philanthropic advice may win more of the overall business. Clients who want to be philanthropic will do so anyway, and if you do not offer them this service, there are many others who will!

Clients are already paying for asset management and administrative services for their charitable foundations, and a significant minority of philanthropists are prepared to pay for specialist philanthropy advice, for example on a consultancy or pro rata basis for advice on governance or structuring, grant-making techniques, finding a project and feedback processes¹.

Even in the current economic environment, 60% of wealth advisors expect philanthropy to continue to grow over the next five years and become a core pillar of their private client services².

" It opens up new areas of trust and tax law in which we can advise, and a continuing interest on the part of the client means continuing involvement on our part if we get it right. " solicitor

¹ Philanthropy amongst Ultra High Net Worth Individuals and Family Offices in Europe: The United Kingdom, Switzerland and Germany, Scorpio Partnership, June 2007

² The Role of Wealth Advisors in Offering Philanthropy Services to High-Net-Worth Clients, Scorpio Partnership, October 2008

Myth 5

Myth: I need to be a philanthropy expert in order to advise my clients

Fact:

Clients won’t expect you to have every answer at your fingertips, but they will expect you to be able to find out or at least point them in the right direction.

Fortunately, there is a growing range of specialty philanthropy services to help – including Philanthropy UK’s popular handbook, Giving by Philanthropy UK">A Guide to Giving, available free on our website; community foundations to support local giving; advisors such as New Philanthropy Capital and Geneva Global which recommend specific charities to support; as well as a variety of specialist philanthropy funds in which your clients might invest.

You also can provide your clients a valuable service by connecting them to other philanthropic clients, to share learning and expertise. Access to networks of like-minded individuals is one of the sources of support most frequently cited by new philanthropists.

Asking the Question

Even if they see a clear value in raising philanthropy with their clients – perhaps after reading through the myths in ‘Why talk to clients about philanthropy?’ – many advisors may still not be sure of the best way to raise the subject. In this section, we suggest a range of questions you can ask to help get the ball rolling. We have based these around typical questions from advisors below.

"Not all of a client’s charitable planning needs can always be met by any single advisor, but that advisor who can ask the philanthropic question, marry the technical to the 'soft side', give the best informed counsel, and, when necessary, provide the best referrals, will come closest to meeting such needs."

- The Philanthropic Initiative, Boston USA

Timing

When would be the best time to raise philanthropy with my client?

Good moments are when clients are thinking about major financial decisions, such as:

A change in tax rates, as the UK Government has set out in Budget 2009
Estate planning
Writing or revising a will
Planning for retirement
A liquidity event, such as an inheritance, property sale, or sale of a business
Considering a change in their circumstances, such as taking a company public, transferring a business to sons or daughters or realising that they can’t pass on all of their retirement fund

As US President Clinton has said: “There’s so much to be done, down the street and around the world. It’s never too late or too early to start.”

What to say

I would like to raise philanthropy with my client, but what do I say?

You can just ask the basic giving question: “Are there any charitable interests you would like to support?” or “Have you supported charities in the past?”

Or you can prepare the ground. Before a meeting, send a list of issues you want to discuss and include the giving question. This allows clients to consider the idea ahead of time and ensures that the question is not overlooked.

If you are talking about giving during your client’s lifetime, you might ask:

What role has philanthropy played in your family? What role would you like it to play? What value would it be to your children and grandchildren?
Do you want to involve your family or your friends in your giving? If so, in what way? How involved should they be? What do you (not) want to happen?
Warren Buffett said, “Parents should leave children enough money so they would feel they could do anything but not so much that they could do nothing.” Is that something you can identify with?

If you are talking about your client’s retirement, when clients may worry about having enough for a secure future, you might say:

If you’re interested, perhaps we could try making your money work well for you while also helping charities that matter to you?

If you are talking about your client’s will, you might ask one or two of the following questions:

Have you thought of leaving something in your will for charity?
Are you giving to charity now and would you like this to continue after your death?
Do you think your family shares your personal values? What are these? Have you discussed them together?
Do you wish to pass your values on? Could philanthropy be a good way of doing this?
How do you think your children would react if you left something to charity?
It’s not a happy thought, but have you thought what you would like to happen to your assets if your spouse or children do not survive you? Would you like to help a charity?
Warren Buffett said, “‘Parents should leave children enough money so they would feel they could do anything but not so much that they could do nothing.” Is that something you can identify with?

How to help

If my client shows interest, what sort of questions should I then ask? How can I help identify what sort of giving my clients want to do?

Philanthropy UK’s Advisors' Framework for Effective Giving has been developed to guide advisors through a step-by-step process to help clients create a charitable giving strategy.

There is no 'right' strategy or 'right' giving portfolio – it is a question of what matters to your client, who they would like to involve and how they would like to organise the decision-making process.

Of course, clients may wish to undertake one or more of these steps by themselves. However, many find it helpful to do so together with their advisor.

You can help stimulate their thinking; connect them with similarly philanthropic clients; undertake research where they cannot spare the time themselves; act as an intermediary with charities and other potential recipients; present them with tax-efficient options; signpost them to specialist philanthropy advisors and generally move the process along.

Click here to see the Advisors’ Framework for Effective Giving by Philanthropy UK

Signposting

What happens if they ask me questions I can’t answer?

That is less likely to be the case if you have a look at other sections of this site. But there is nothing wrong with saying you’ll get back to them – as long as you then do so with well-researched advice.

Fortunately, there is a growing range of specialty philanthropy services to help – including Philanthropy UK’s popular handbook, A Guide to Giving, and The Philanthropy Directory, the comprehensive guide to the wide range of charitable services and products for UK donors. Both are available free on the Philanthropy UK website.

Giving Advice

" Advisors play a critical role in effective giving and this resource will take us one step closer to further embedding a culture of strategic philanthropy in the UK. " Dame Stephanie Shirley, UK Ambassador for Philanthropy

A key part of the work of an advisor is guiding a client from the initial spark of inspiration to deciding upon and implementing a giving strategy. This section discusses the elements involved and shows where to turn for further information.

We would like to hear from advisors about what further information might be useful.
Please email us at info@philanthropyuk.org.

Philanthropic framework

Is there a process I can work through to help my client develop a giving strategy?Advisors should encourage the development of family strategies for philanthropy by:

Raising the question of charitable giving with their clients
Ensuring that that they have the information, training and materials they need to give to their clients, explaining their options for tax-efficient giving, and also the benefits of developing a strategy for philanthropy
Helping clients to understand their actual level of wealth, the amount they desire and need to allocate for themselves and heirs, and the amount remaining that they could give to charity

Start by becoming familiar with the process to take your clients through. The key aspects will be building your client’s trust, understanding what they are really seeking to achieve with their giving and researching the various options for achieving your client’s giving aims. The research will involve helping them to understand who to give to, what their options are and how they can best structure their giving.

The Bill and Melinda Gates Foundation follows a simple formula in investing its wealth to make the most of its founders’ determination to reduce inequity: identify problems; find solutions; measure the impact of the work in human terms “so that people can feel what saving a life means to the families affected”; and share the successes and failures “so that others learn from your efforts”.

We would recommend as a first step that all advisors work through Philanthropy UK’s Advisors’ Framework for Effective Giving. Also be aware of other sources of advice and support that you or your client may wish to call on.

Case study: helping a client to get started in philanthropy

One of our clients, a young entrepreneur, was introduced to the concept of charitable giving three years ago during a regular meeting with his trustees and a financial advisor. Besides the usual agenda, the philanthropy topic was raised by the trustees and set aside by the settlor with a disapproving smile.

Case study 1

Helping a client to get started in philanthropy

By Heiko Specking*, VALUE Works family office, Zurich

For the trustees, this raised the question of whether to try another approach to address the subject of giving or to leave it for good. In this case, the philanthropic question became standard during the quarterly meetings and, slowly, a shift in the mindset of the entrepreneur was noticeable.

The change was triggered during the estate-planning discussions as to whom the valuable business was to be left should he die. The client started to establish a good general philanthropic understanding, which led to deeper discussions with the whole team – trustees, protector, spouse, financial advisors and business partners.

The most difficult discussions were about finding a suitable cause to support, and during this phase of intense exchange the client became interested in the subject of social entrepreneurship and he decided to establish his own charity.

Still, the process of becoming really passionate about a cause can sometimes change course, and one should allow sufficient time to be sure about one’s true future philanthropic commitment.

Charitable vehicles & tax-efficient giving

What philanthropic vehicles and structures are available? What are the best options for tax-efficient giving?

Giving money tax-efficiently means that either your client or the charity can claim back the tax your client would have paid on their income so the charity can receive more and your client can afford to give more.

There are a number of ways in which money can be given to charities and tax relief obtained on the gift.

These include:

Gift Aid
Charitable vehicles
Donor advised funds
Gifts of assets
Legacies
Community Investment Tax Relief (CITR)
Payroll giving
Philanthropic funds

The IntoUniversity FOCUS Programme offers young people learning experiences which aim to immerse them in a single topic or subject area. The charity is funded by Impetus Trust. Photo courtesy of IntoUniversity

Gift Aid

Under Gift Aid, for every pound your client gives, the charity can claim another 25p tax back from HMRC. Because the amount given is deemed to have had basic rate tax deduced from it, higher-rate taxpayers can then claim the difference between the basic rate and the higher rate on their deemed £1.25 donation. Payments (of any size) can be made by cash, cheque, postal order, direct debit, standing order, debit or credit card or even in a foreign currency. For more information on Gift Aid, visit Philanthropy UK's A Guide to Giving.

Charitable vehicles

A charitable vehicle provides a framework for planning your client’s charitable giving in a systematic and thoughtful way. They are registered charities and can take the form of companies or trusts. A charitable vehicle offers many tax benefits. Apart from the tax relief on your client’s own donations to the trust, it will not pay tax on its investment income or capital gains tax. It also will not pay inheritance tax. For more information on charitable trusts, visit Philanthropy UK's A Guide to Giving.

Donor advised funds

Donor advised funds are structured in a similar way to charitable vehicles, but because they are operated centrally by others, they remove the need for a client to find his or her own trustees or deal with administrative aspects. Like bespoke charitable vehicles, they are a tax-efficient way of giving to charity, as they can claim back the tax on Gift Aid donations and add it to the amount in your account. Examples include named funds at community foundations and charity accounts at intermediaries such as Charities Aid Foundation and Stewardship. Your client decides how much to give and pays it into the fund. They can also fund the account through payroll giving or by gifts of shares. The host organisation offers grant-making expertise and monitoring and reporting processes, and deals with the administration and distribution of funds. For more information on donor advised funds, visit Philanthropy UK's A Guide to Giving.

Case study: donor advised funds

The Coutts Environment and Microfinance Pilot Donor Advised Funds provide clients with the opportunity to collaborate with each other by pooling funds and directing donations to make an even bigger impact.

Gifts of assets

Individuals and companies can claim tax relief when giving certain assets, such as shares and land, to a UK charity. Outright gifts are also free of inheritance tax. Unlike cash donations under Gift Aid, all the tax relief is claimed by the donor. The amount of tax relief you are eligible for involves two elements: Capital Gains tax relief and Income tax/Corporation tax relief. Qualifying investments include: shares and securities listed or dealt in on the UK or another recognised stock exchange; units in an authorised unit trust (AUT); shares in a UK open-ended investment company (OEIC); holdings in certain foreign collective investment schemes; and a qualifying interest in land and buildings in the UK. For more information on gifts of shares and land, visit Philanthropy UK's A Guide to Giving.

Legacies

Gifts made to UK charities in your client’s will are tax-free. Their charitable vehicle can be a beneficiary of their will, and no inheritance tax will be due on the amount given to the trust. They can also set up a ‘Legacy account’ with a donor advisory organisation, such as a community foundation. If your client has already made a will, they can still add another legacy by drafting a codicil. This is a separate legal document which adds to or amends the will they have already made. For more information on legacies, visit Philanthropy UK's A Guide to Giving.

Community Investment Tax Relief (CITR)

CITR is a tax incentive to investors in community development finance institutions (CDFIs), which lend and invest in deprived areas that cannot access mainstream finance. CITR is available to any individual or company with a UK tax liability investing in an accredited CDFI where the investment is held for at least five years. The investment must be either in shares, securities, or a loan. The investor receives a relief to offset against their income or corporation tax liability of 5% of the amount invested in the year the investment is made, and a further 5% in each of the subsequent four years. The total relief is worth up to 25% of the value of the investment. This tax relief is in addition to any interest or dividend paid by the CDFI. For more information on CITR, visit Philanthropy UK's A Guide to Giving.

Payroll giving

Payroll giving is a way of giving money each week or month direct from your pay. It is a tax-efficient way for employees, non-executive directors and those receiving a company pension to give a regular amount to one or more charities, or to make a one-off gift. The donation is made from gross salary (before tax has been taken off). For more information on payroll giving, visit Philanthropy UK's A Guide to Giving.

Philanthropic funds

There also are a range of philanthropic funds in which your client may directly invest; many of these offer tax relief as they are set up as charities or CDFIs. The Philanthropy Directory on Philanthropy UK’s website includes examples of over two dozen philanthropic funds which invest in charities, social entrepreneurs, social businesses, and community development finance institutions (also for previous question), in the UK and abroad.

Case study 2

Donor advised funds

The Funds are not an investment scheme but rather a collection of donations, directed by donors to support charitable work in these two areas.

The Funds require a minimum donation of £10,000 and are administered by the Charities Aid Foundation.

Coutts clients also benefit from independent Microfinance and Environment Advisory Panels, giving them access to written reports on these two topics and information on charitable work that the Panels have helped prepare.

Issues to consider

What issues should I consider when setting up a charitable vehicle for a client?

First, you can help the client determine whether setting up their own charitable vehicle is the best option given their objectives.

Whilst there are many strategic and technical benefits to charitable vehicles, some clients may prefer not to have the hassle of administrative and regulatory requirements, or perhaps the personal responsibility and engagement needed to manage such a vehicle, especially if they are giving away limited sums.

If this is the case, then you might consider a donor advised fund, which is a fund managed centrally by another organisation, such a fund at the client’s local community foundation or a charity account hosted by organisations such as the Charities Aid Foundation.

Alternatively, there are various philanthropy funds in which your client might directly invest, or they may wish to invest in a project alongside an established funder in their area of interest. See The Philanthropy Directory for a comprehensive list of philanthropy and social investment funds.

When setting up a charitable vehicle for a client, there are a range of issues to consider in choosing the form and jurisdiction, including:

Purposes – Clients must name the purposes of the trust when registering it as a charity. These can be very general or very specific. Charitable trusts are primarily used to make grants, but they may also be used for certain mission-connected investments as allowed by the Charity Commission for England & Wales. Trusts may be set up with either a permanent endowment or an expendable endowment.
Trustees – Clients should consider who they want to have as the vehicle’s trustees or directors. This often includes themselves and a legal representative, but may also include family, business partners or experts in their area of interest.
Risk profile – Clients may wish to set up their vehicle as a company limited by guarantee to limit the personal liability of the trustees.
Tax exposure – The structure and territoriality of the vehicle should reflect the tax exposure of the founder. For example if the client is a US citizen without any UK connection, then a UK charity may not be the best option.
Territoriality – Other territoriality issues include where the charitable work will be carried out and whether family based outside the UK will be involved.

Resources for advisors

Where can I find more information on charities? How can I advise my client on what charities to support?

Publicly available information on charities generally has been wanting. However, this is changing with improved quantity and quality of information flows in the sector. These include online databases as well as research into different areas of charitable activity and tailored advisory services for donors from specialist philanthropy services.

The resources below include background information on the charitable sector, financial and other information on individual charities, guidance on how to evaluate a charity for investment, specialist philanthropy services, and international resources.

See below to learn more about:

Background information on charities
Searchable databases of charities
Specialist philanthropy advisors
International advisors

Through a project funded by the Gates Foundation, women in the village of Golo Sodoma, Ethiopia receive free bed nets in a UNICEF distribution campaign that is the largest in African history. Photo courtesy of the Bill & Melinda Gates Foundation / Liz Gilbert.

Background information

Case study: helping clients identify causes to support

In Hong Kong, the Tin Shui Wai (TSW) district has a reputation for domestic violence, tragic family disputes and squalid living conditions. A client of HSBC was moved by numerous news reports and expressed her desire to help this community in need.

Searchable databases of charities

Charity Commission for England and Wales: Online searchable Charity Register includes key facts and figures about the work and finances of each charity registered in England & Wales
Charity Commission for Northern Ireland: CCNI is the charities regulator for Northern Ireland, set up by the Department for Social Development.
GlobalGiving UK: Donors can give to social, economic development and environmental projects around the world via its public website, or use the company's bespoke giving services. All donors receive progress reports on their funded projects.
GuideStar UK: Public website providing access to accounts, annual reviews, and other information for the 168,000 charities registered in England & Wales.
Intelligent Giving: Website offers charity profiles and ratings of the larger fundraising charities, as well as a charity blog. Managed by New Philanthropy Capital.
Localgiving.com: New website connecting donors to local causes. Developed in association with the Community Foundation Network, to be launched in autumn 2009.
Office of the Scottish Charity Regulator: OSCR is the independent registrar and regulator for 21,000 Scottish Charities. It is a non Ministerial Department and forms part of the Scottish Administration.
The Big Give: New website that allows givers to donate from £5,000 to £10m to charitable projects. Donors can search for projects by the amount of funding needed, sector, location and type of beneficiary.

Specialist philanthropy advisors (UK-based)

Arts & Business: A&B provides cultural philanthropy advice and other support services to donors and wealth advisors. It also provides a networking forum for businesses, individuals and arts organisations.
Association of Charitable Foundations: ACF is the membership association for grant-making foundations. It publishes information and provides a forum for members to learn from each other. Its members include individuals who give through a charitable trust.
Asian Foundation for Philanthropy: Using its network and research expertise, AFP provides avenues for British Asians and their advisors to give money, time and expertise to grass roots causes in India.
Charities Aid Foundation: CAF offers various giving mechanisms, such as the CAF Charitable Trust and the CAF Account, as well as provides advisory services.
ClearlySo: Website connecting social investors with social businesses in which to invest.
Community foundations: Community foundations are charities that promote and support local voluntary and community activity, including the bespoke management of donors' funds. There are over 60 community foundations across the UK.
Carrington, David: Independent consultant working with individual philanthropists and organisations wishing to encourage new philanthropic initiatives, as well as charities, companies, wealth managers and government.
Geneva Global: Provides independent research, advice, and grant management for clients who take a results oriented approach.
Institute for Philanthropy: The Institute works to increase effective giving by providing donor education, building donor networks and serving as a forum for new thinking in philanthropy.
Investing for Good: Consultancy providing specialized advice on social investment, including identifying and evaluating investment opportunities, to wealth managers and financial intermediaries.
New Philanthropy Capital: A charity that advises donors on how to give more effectively, through a combination of independent research and tailored advice.
Pilotlight: Working in London, Scotland and Wales, Pilotlight helps small charities grow and fulfil their potential by recruiting members from business and industry who want to donate their skills.
Smart Fund: National venture philanthropy organisation, run by the Cranfield Trust, supporting charities by providing free management consultancy support from professional volunteers.
Stewardship: Stewardship is a Christian financial support services charity. It aims to facilitate effective giving – serving over 25,000 donors, and distributing more than £40m every year.
The More You Give: A bespoke match-making service, working with wealthy individuals, and national and global companies to develop their giving strategies and link them with causes that inspire them and which they can inspire.
The Philanthropy Advisory Service: Consultancy advising individuals and families wishing to establish or develop a strategic approach to their charitable giving, based on their own values and preferred focus.
UKSIF: UK membership network for socially responsible investment (SRI). UKSIF's primary purpose is to promote and encourage the development and positive impact of SRI among UK-based investors.

International advisors

Active Philanthropy (Germany): Advisory services helping donors to develop and implement their personal giving strategy.
GreaterGood South Africa (South Africa): Through its networking websites and specialist social investment services, GGSA helps people to connect with and support registered non-profit organisations “in whatever way they can”.
King Baudouin Foundation (Belgium): Its Centre for Philanthropy offers advice to individual and corporate donors and to intermediaries (private bankers, lawyers, accountants etc.) on the most efficient way to use a donor's assets for a social purpose.
Rockefeller Philanthropy Advisors (USA): An independent, non-profit service providing research and counsel on charitable giving and developing philanthropy programmes. It also operates a charitable gift fund through which clients can make gifts inside and outside the United States, participate in funding consortia, and operate non-profit initiatives.
The Philanthropic Initiative (USA): A non-profit philanthropic consulting firm that provides strategic planning and programmatic services to individual donors, families, foundations and corporations.
wise (Switzerland): Consultancy providing tailored philanthropy advisory services at every stage of the process: developing a framework for giving, identifying organisations, planning a project, and monitoring performance.

Case study 3

Helping clients identify causes to support

By Christina Lee, Director, Private Wealth Solutions, HSBC Trustee, Hong Kong

In Hong Kong, the Tin Shui Wai (TSW) district has a reputation for domestic violence, tragic family disputes and squalid living conditions. The settlor of a charitable trust was moved by numerous news reports and expressed her desire to help this community in need.

Our team at HSBC Trustee worked with the settlor, discussing the specific areas of focus, the impact she wanted and other relevant details to help us narrow our search. We screened and interviewed various charitable organisations that serviced this community to gain a better understanding of what was lacking in terms of current support from other organisations as well as the government.

The settlor chose to focus on domestic violence affecting women and children. With the involvement of a few local charities, our team then interviewed the end-users, mainly housewives, to gain a better perspective of their needs.

We identified and provided support to a few pioneer projects, which included organising activities for the families to promote learning, communication and respect, and a computer game for children to play, specially designed in collaboration with a local university.

This game screens and identifies child abuse and family violence, which may otherwise be difficult to detect since the children may be too young or afraid to express their situation or do not know who they can confide in. Since these children often grow up in a violent environment and have grown accustomed to it, many even think that family violence is considered normal and acceptable.

With the generous donation from our settlor’s trust, the charitable organisation started a program which has now reached over 2,900 families representing over 6,000 individuals.

More philanthropic options

Besides charities, what are other ways of making a difference?

Your clients have a range of philanthropic options to choose from, offering a mix of social and financial returns.

Charity lending: Providing risk-based finance to charities for purposes of working capital, development capital or bridging finance for fundraising projects. Learn more...
Microfinance: Microfinance organisations (MFIs) provide financial services to people on low incomes who do not have access to credit and other financial services. There are various intermediaries and funds through which individuals can invest in microfinance in the UK and internationally. Learn more...
Social enterprises: Philanthropists can play an important role in supporting social entrepreneurs through funding, mentoring, and brokering contacts and networks. Learn more...
Individuals: Making a difference to individual lives is one of the most rewarding aspects of philanthropy. Popular areas are the arts, education, sports and entrepreneurship. Learn more...
Social businesses: Business that integrate commercial objectives (growth, profits) with a social, ethical or environmental mission. Learn more...
Community development finance: Community development finance tackles poverty through wealth creation. Community development finance institutions (CDFIs) provide finance and support to businesses and individuals in disadvantaged communities. Investing in a CDFI is tax-efficient, and offers both financial and social returns. Learn more...
Socially responsible investment (SRI): What was previously seen as a relatively niche area for a few well intentioned investors is now clearly very big business: there is now almost £9 billion invested in Britain's green and ethical funds, divided among nearly 100 different green and ethical mandates for retail investors. Learn more...

Case study: social investment

A private client who has been an inventor and entrepreneur all his life was seeking investment advice from his private bank. His portfolio had suffered through the credit crisis and he approached his relationship manager with the request to “do something more interesting with (a proportion of) his money”, and was especially interested in direct investments in education and scientific projects.

Case study 4

Social investment

By Caroline Mason, Investing for Good, a specialist advisor to financial intermediaries

The relationship manager profiled his client as a philanthropist and social investor. This profile was sent to the bank’s social investment advisor, Investing for Good, who submitted 11 social investment opportunities covering such areas as community transport, healthcare, and sustainable water technologies. Each investment had been measured and rated for its return and social impact using Investing for Good's proprietary process.

The advisor discussed the various options with his client and the result was a decision by the client to invest £350,000 across seven social investments; he has also joined the Board of two. The financial return across the portfolio is 4.87% pa. The client has now confided his overall philanthropy programme (approximately £900,000) to his bank for their advisory service. He told his advisor, “This is exactly what I was looking for. I wish I had known about social investments a long time ago.”

Cross-border giving

Where can I find advice on cross-border giving?

With international philanthropy growing rapidly in both Europe and the US, along with other forms of cross-border co-operation, advisors will wish to be confident about ensuring that their clients’ international philanthropy is conducted in an accountable, transparent, responsible and tax-effective manner.

We set out here some expert organisations and other resources.

Please also see issues to consider when setting up a charitable trust.

Learn more about cross-border giving from the resources below:

Organisations providing cross-border support
Online resources
Other guidance

A beneficiary of a South Africa Social Investment Exchange (SASIX) project to boost food security by providing training and livestock in rural KwaZulu-Natal. Photo © GreaterGood SA

Case study: setting up a charity in Asia

JP Morgan Private Bank is advising an international family who want to establish an educational institution on the Asian sub-continent.

Organisations

The Society of Trust and Estate Practitioners (STEP) has over 14,000 members worldwide focusing on the responsible stewardship of assets today and across the generations. It supports its members’ philanthropic endeavours through newsletters, conferences and other learning opportunities.
The European Association for Philanthropy & Giving (EAPG) runs regular roundtables and workshops in London and other European cities. EAPG is a membership network which seeks to ensure the best possible practice in planned giving and cross-border philanthropy. It offers a programme of roundtables, workshops, seminars and publications covering the major tax, legal, organisational, and philanthropic aspects of relevance to planned giving, both domestic and cross-border.
The Charities Aid Foundation offers the CAF American Donor Fund for individuals who pay tax in both the UK and the US. US tax rules can invalidate UK tax breaks on charitable giving, and this special account allows donors to make the most of tax reliefs from both countries.

Online resources

Giving in Europe: Website covering 24 European countries that provides donors, intermediaries and beneficiaries with information about the conditions, possibilities, best solutions and procedures for making a cross-border philanthropic gift, while taking into account civil, tax and philanthropic considerations.
Europe">Transnational Giving Europe (TGE): Online partnership of leading European foundations and associations that facilitates tax-efficient cross-border giving within the UK and 12 other European countries. TGN enables corporations and individuals resident in one of the participating countries to fund non-profit organisations in other member countries while benefiting directly from tax advantages in their country of residence. The UK partner is the Charities Aid Foundation (CAF).

Other guidance

Principles of Accountability for International Philanthropy: A joint initiative by the European Foundation Centre (EFC) and the US Council on Foundations (CoF) to provide a framework to assist more foundations and others engaged in international philanthropy to be more thoughtful and effective funders and partners. Philanthropy">Download the Principles (PDF) here.

Case Study 5

Building an educational institution on the Asian sub-continent

JP Morgan Private Bank is advising an international family who want to establish an educational institution on the Asian sub-continent.

Buying the land and doing the construction work for the project requires a local charity; however the endowment may be best situated elsewhere – for example, to avoid political risks in the longer-term.

The client might therefore choose to set up a registered charity in the UK to hold the endowment, which would also give the client flexibility to raise outside funds for the project. Similarly, the client might also consider setting up a charity in the US (a 501(c)(3) organisation) either in addition to or in lieu of a UK charity.

Registration of the charity in an onshore jurisdiction (with the associated regulatory and reporting requirements) can provide external donors with reassurance as to the credibility of the charity as well as tax efficiency.

Alternatively, if the clients prefer for the project and its financial accounts not to be publicly available, as they would be for a registered charity, then they might consider setting up the endowment as a charitable purpose trust in an offshore financial centre, and then having ‘Friends of’ charities, which could be based in various countries, linked to the main educational institution charity.

The ultimate structure will depend largely on the clients’ preferences, as well as the family’s tax exposure.

Family philanthropy

How can I deal with family issues?

Philanthropy provides an excellent way for members of wealthy families to remain connected with the world and as well as to one another. Charitable foundations can also be an excellent tool for teaching younger family members the responsibilities and good management of wealth. They can bring the family together, instil family values in the next generation, and teach life skills.

At the same time, successful family philanthropy requires careful planning, as well as the commitment and active participation of all involved. It is a long-term, thoughtful and thought-provoking process.

Family dynamics influence the whole of wealth management, not just philanthropy. But philanthropy, because it is so personal, may raise particular issues. Some points to consider are the following.

Families may welcome having an objective outsider who can help them explore the values they share and jointly express through giving.
Be prepared to start exploring family values early on, when you first come to ask the giving question.
In family discussions, remember to encourage everyone to speak so that no one member dominates – or consider holding individual conversations.
Not every question about how the family is going to be giving needs to be answered before they decide that they want to give and to explore the matter further.
The issues thrown up by such discussions can go deep, relating to power balances, expectations of inheritance, personal relationships and so on, and you may wish to consider working with a family systems expert or a family psychologist.

And see here for new research into trends in family foundation giving. Among other things, this reveals that UK family foundations give more than in the US.

We have also compiled a reading list for individual and family philanthropy.

Donor networks

How can I learn more about donor networks?

" Many advisors help their clients find opportunities for collaboration, be it with an individual donor, a group of donors or with a foundation, government agency or corporation in the community. The point is to leverage the donor’s dollars. " Thomas Backer, Human Interaction Research Institute

Nurses at Nakuru Hospital in Kenya studying an e-learning course using PCs donated by Computer Aid. Photo © Glenn Edwards/Computer Aid International Advisors can play an important match-making role in linking clients up with like-minded individuals.

While some people believe that giving is a very private activity, others would like to share the pleasure of giving and take part in a group where issues relating to wealth and charity can be discussed freely.

Clients tend to appreciate opportunities for peer networking that helps them learn about individual causes, pick up insights into the role of philanthropy in family life and hear about other people’s strategies for giving. So they want help with finding role model donors from whom they can learn best practice, identifying collaborators and connecting with peers.

In some areas of giving, such as the arts, there are far more opportunities to meet fellow donors than in others, such as social welfare or overseas development. In the UK a number of formal and informal networks are emerging around areas of interest. Some are private, but others have open meetings and encourage new members.

Of course, not all clients like the idea of collaborating with others, which some may view as too restrictive or bureaucratic. And first-generation wealthy may be less likely to collaborate than their children or grandchildren.

We highlight some networking organisations below.

Case study: donor network

Culture House is the high-level membership scheme run by Arts & Business for individuals who are passionate about the arts and philanthropy. The programme offers members exclusive access to events covering the full spectrum of today’s cultural life as well as providing opportunities to network with like-minded people and key cultural and political figures.

Organisations

The Association of Charitable Foundations (ACF) is the membership association for grant-making foundations and the largest funding network in the UK. It publishes information and provides a forum for members to learn from each other. Its members include individuals who give through a charitable trust.
Giving through a community foundation may offer opportunities for co-operation and shared learning. You can find out about the community foundation in your area from the Community Foundation Network.
Environmental Funders Network is an informal network of around 50 mainly UK trusts, foundations and individuals making grants on environmental and conservation issues.
European Venture Philanthropy Association (EVPA) is a membership association of organisations and individuals who are practising or are interested in venture philanthropy. The EVPA provides a networking forum and other support for its members, in addition to promoting venture philanthropy throughout Europe.
Grantmakers without Borders is a network of trustees and staff of public and private foundations as well as individual donors who practice global social change philanthropy.
Jewish Funders Network is an international organisation of family foundations, public philanthropies, and individual funders dedicated to advancing the quality and growth of philanthropy rooted in Jewish values.
The Network for Social Change is a member-driven network committed to funding sustainability and social justice.
Synergos Global Philanthropists Circle is a dynamic network of leading international philanthropists dedicated to eliminating poverty and increasing equity worldwide.
The Funding Network (TFN) is a member-driven giving network of individuals from a variety of backgrounds who come together to fund social change. Funding events - lively pledging sessions for projects sponsored by members - take place in London, Bristol, Leeds and Scotland.
Trusts in Partnership is developing the concept of a 'giving club' (also known as a 'micro-trust'). Each micro-trust operates under the larger umbrella of the partnership, which provides charitable status and one set of annual accounts. Tax reclaims, administration, research, coaching and so on are also done by the partnership. The focus of the giving of each micro trust is set by the donors. You can e-mail them at londonpartnership@hotmail.com.
UKSIF is a UK membership network for socially responsible investment (SRI).
Women's Funding Network is a partnership of women's funds, donors, and allies around the world.

Case Study 6

Donor network: Culture House

Culture House is the high-level membership scheme run by Arts & Business for individuals who are passionate about the arts and philanthropy.

Culture House stimulates and celebrates arts and cultural philanthropy. The programme offers members exclusive access to events covering the full spectrum of today’s cultural life as well as providing opportunities to network with like-minded people and key cultural and political figures. The annual membership also includes an individually tailored component for each member's tastes, interests and passions.

Culture House works with its members and the wealth industry to clarify tax and incentives, create a culture of giving and encourage greater and more efficient giving and advice from the sector.

For more information about Culture House, please contact: David Hawkins, david.hawkins@artsandbusiness.org.uk.

Evaluation tools

What evaluation tools are out there?

Although it varies from client to client, there is an increasing desire among donors to know how to define and measure the success of their giving. Different advisors may assist clients with different aspects of this. We give some examples of tools and guidance below.

You can get started with our Advisors’ Framework for Effective Giving, Stage 5: Evaluating impact.

Other Philanthropy UK resources include:

Giving by numbers: how measuring social impact stacks up (Philanthropy UK Newsletter, June 2009). This special report explores the benefits and challenges of measuring social impact, and offers a range of case studies of various approaches.
Impact evaluation (A Guide to Giving). Provides an overview of impact evaluation, including descriptions of different approaches and advice on how to get started.
Social return on investment (A Guide to Giving). Provides an introduction to SROI, a cost-based analysis tool which assigns financial values to social and environmental impacts.
Reading list. Philanthropy UK’s recommended guides and other publications on impact and performance measurement.

Organisations

Charities Evaluation Service (CES) advises charities on how to assess their effectiveness and provides consultancy in monitoring, evaluation and quality systems for charities and funders.
The Matrix Knowledge Group provides consulting, software, evaluation and research services to charities and funders.
The New Economics Foundation, a London-based think-tank, has created a range of measurement tools including an online Proving and Improving Toolkit that social enterprises can use to design their own processes to measure, demonstrate and improve their quality and impact.
The SROI Network promotes the use and development of the Social Return on Investment methodology in the UK. SROI is an approach to understanding and managing the social, economic and environmental impacts of a project, an organisation or a policy.

Next Steps

I want to become an advisor on philanthropy. Where should I start? Where can I find further information?

You can start with this website!

Become familiar with the process to take your clients through to create a bespoke giving strategy. The key aspects will be building your client’s trust, understanding what they really seek to achieve with their giving, and researching the various options for achieving their giving aims.

Yet it is important to recognise that philanthropy is not an economic transaction; rather it is a journey of experience and learning building on a range of social relationships including with charity staff, beneficiaries, other donors – and the philanthropy advisor.

To learn more about the various approaches to and methods for giving, see Philanthropy UK's popular handbook for philanthropists and their advisors, A Guide to Giving. And to learn about the wide range of charitable products and services available to UK donors, see The Philanthropy Directory.

You can stay up-to-date on the latest news and developments in philanthropy by subscribing to the quarterly Philanthropy UK Newsletter and fortnightly News Bulletin. Both are free and available only online.

Practical exercise

Finally, to help get you started, try this simple exercise –

Put yourself in the position of one of your clients. Assume that you have been given £50m to set up your own charitable foundation.

Where would you start?
What questions should you ask yourself?
What would you do?

Children in a school lesson aboard a Boat School classroom, a project supported by Global Fund for Children. © Abir Abdullah / Shidhulai Swanirvar Sangstha

Framework

Philanthropy UK’s Advisors' Framework for Effective Giving has been developed to guide advisors through a step-by-step process to help clients create a charitable giving strategy.

Of course, clients may wish to undertake one or more of these steps by themselves. However, many find it helpful to do so together with their advisor.

Stage 1: Setting objectives

What are your client's aims?

The first step is to establish what your client wants to achieve by their giving. The following questions might be helpful for understanding the values that motivate them:

What causes do you care about? What types of charities have you supported in the past?
What gifts have you found most personally rewarding?
Are there any values that have guided how you have lived your life, raised your family, or operated in business?
What would you like to change in the world?
Are there any core values would you like to express through your giving? What do you want to stand for?
How much do you know about the issues? What needs are most pressing?
How do you want to make a difference to a cause you care about?

A Microloan Foundation loan group from Mzimba in Northern Malawi sell their fruit and vegetables. Photo © Judith Perle, an MLF volunteer

Stage 2: Developing a giving strategy

How does your client want to have an impact?

Having considered your client’s objectives, you are ready to formalise a charitable giving strategy. In this stage you should think about the goals and objectives of your client’s philanthropy, the focus of their giving, the types of recipients they want to support and the type of support they want to provide.

To clarify your client’s strategy, you might find it useful to write a giving strategy statement, asking your client the following questions:

What are the goals and objectives of your giving?
What causes will you support?
What areas, if any, are off limits?
What types of recipients will you support (e.g., registered charities, social enterprises, local community projects, individuals, ethical businesses)?
What type of funding will you provide (e.g., grants, loans, ‘quasi-equity’)?
What non-financial support will you offer (e.g., time and expertise)?
What giving mechanisms will you use (e.g., charitable trust, charity account, venture philanthropy fund)?
What will be your decision process and giving criteria?
Who else might you want to involve in your philanthropy?
Will you integrate your social and environmental objectives into your financial investments, such as through socially responsible investment (SRI) and sustainable finance?

Stage 3: Giving tax efficiently

How much to give? How to give?

As a private client advisor you are uniquely positioned to help your clients understand their financial position and other available resources, so that they can be confident and financially secure in their giving. You might ask your client some of the following questions.

How much money do you think you might be able to give? Over what period of time?
Is this likely to be one lump sum (for example, from the sale of a company, a block of shares, or an inheritance)?
Could you set aside a regular amount from your salary, fees or pension?
Do you sometimes benefit from regular extra income, such as an annual bonus?
How much do you think you will want to give in the future?
Do you think you might want to leave some money to charities in your will?
Would you like to make sure that your donations continue after your death?
Are there time-sensitive tax considerations (such as giving shares to a charity to obtain tax relief on the gift in the current tax year) that influence your decision?

You also can help your client determine what tax-efficient giving mechanisms are most appropriate, especially where there are ex-UK tax issues, such as if the client is a US citizen. For example, you might consider the following options:

Setting up a private or family charitable vehicle
Giving through an intermediary, such as a venture philanthropy fund or a community development finance institution (CDFI)
Outsourcing the administration by giving through, or establishing a named fund, at a community foundation or setting up a charity account
Setting up a mechanism through which they can make cross-border gifts
Utilizing the CAF America Donor Fund to make donations to US charities while receiving tax relief in the UK
Supporting a few specific charities regularly through payroll giving

Click here for other vehicles for achieving philanthropic objectives.

Stage 4: Constructing a portfolio

What to support?

You can now move on to identifying and evaluating potential recipients. Advisors can assist in screening proposals from charities against specified criteria.

As with any investment, it is good practice to know as much as you can about the charity and its field of work when making a contribution. When evaluating a charity, essentially you want to know three things: what it does, how effective it is, and how your client can make a difference. Consider the following questions:

What are the mission and aims of the charity?
What specific need is the charity addressing and who are its beneficiaries?
How does it meet this need and what is unique about its approach?
What is the calibre and experience of the organisation's leadership?
What is the financial health of the organisation? What are its existing funding sources? How might this change?
Are there any organisational or environmental constraints?
What impact has the charity had and how is this monitored?
What difference can your client’s gift make to the charity and to the lives of its beneficiaries?
Is there an opportunity for your client to get personally involved, by contributing their time and expertise?
Can your client leverage their giving with the financial resources and expertise of other funders?

In defining a decision-making process, consider how your client wants to be involved in the giving decisions, as well as any administrative or regulatory requirements. If they want to establish a formal process, then you might ask them the following questions:

What criteria – based on your giving strategy statement – will you use?
Will you accept unsolicited proposals?
What information, and in what format, will you request?
Who will you involve in the decision-making?
How will you respond to proposals?
What is your preferred method of contact?

If, on the other hand, they prefer to have a more informal process, then you will likely want to establish, at a minimum, some giving criteria and a preferred method of contact.

Stage 5: Evaluating impact

How to assess impact?

Donors give because they want to have an impact. They will want to assess and understand the results of the investment: what worked and what didn't, and why or why not? This will influence their repeat or long-term giving. For sizable gifts, it may thus be helpful to build in a percentage for a formal appraisal.

Before embarking on a philanthropic programme, help your client to consider the following:

What impact does your client seek?
What do they want to learn about it? What evidence do they need?
How do they want to learn it? (E.g., written reports from the organisation, from you as their advisor or from another intermediary; personal visits to the charity; speaking with beneficiaries or community members)
Is the required reporting commensurate with the level of the gift?

In evaluating specific projects, think about the questions below.

How did the outcomes compare against targets?
What worked, and what didn’t?
What was important to the success?
What were the challenges?
How will the findings affect their future giving decisions?
How can this help them to be more effective in their charitable giving?

About us

Philanthropy UK

Philanthropy UK is the leading resource for free and impartial advice to aspiring philanthropists who want to give effectively. We also publish the quarterly Philanthropy UK Newsletter and companion News Bulletin, read in over 60 countries, and A Guide to Giving, the essential handbook for anyone seeking to give effectively.

An initiative of the Association of Charitable Foundations (ACF), Philanthropy UK was founded in 2001 and is supported by a range of charitable foundations with funding from the Office of the Third Sector in the Cabinet Office.

Philanthropy UK is an initiative of the Association of Charitable Foundations, a company limited by guarantee registered in England and Wales. Company Registration No 5190466. Registered Office: Central House, 14 Upper Woburn Place, London, WC1H 0AE. Registered Charity No 1105412

Contacts

Web: www.philanthropyuk.org

Email: info@philanthropyuk.org

Tel: +44 (0)207 255 4490

Society of Trust and Estate Practitioners

The Society of Trust and Estate Practitioners (STEP) is delighted to work with Philanthropy UK on the development of this online guide for philanthropic advisors.

STEP members advise clients on the broad business of the management of personal finance. As intermediaries between client and potential wealthy donors, members have a major role to play in advising on philanthropy.

STEP is a unique international professional body providing over 14,000 members with a local, national and international learning and business network focusing on the responsible stewardship of assets today and across the generations. It supports its members’ philanthropic endeavours through newsletters, conferences and other learning opportunities, such as STEP TV.

Click here for ‘Philanthropy: Key Issues for an Emerging Sector’, a STEP TV discussion on the role of philanthropy in aiding wealthy clients to achieve a wide range of personal, social and cultural objectives.

Contacts

Web: www.step.org

Email: step@step.org

Tel: +44 (0)207 340 0500

Acknowledgements

Philanthropy UK and STEP are especially grateful to the following individuals and firms for their generous support and guidance in the development of this resource.

Clive Cutbill, Withers Worldwide
Rebecca Eastmond, JP Morgan Private Bank
Paul Knox, JP Morgan Private Bank
John Riches, Withers Worldwide
Heiko Specking, VALUEworks
Jacob Rigg, Panopticon Policy
Ben Coleman, Oceans Consulting