Posted on 6th November 2008
Million pound donors favour higher education institutions, health charities and international aid/development organisations, according to the ‘Coutts Million Pound Donors Report’, published this week.
The report found that of the 193 gifts of £1m or more made in 2006/07, almost two-thirds (64%) were for under £3m, but that 12% were for £10m or more.
The five largest donations – worth £100m or more – were all placed into trusts and foundations for distribution at a later date, rather than given directly to charities.
The total value of all 193 gifts was £1.6bn.
Not including gifts to higher education institutions (which are not included in the definition of ‘general charities’) the total was £1.32 billion. The total income of general charities in 2006/07 was £31 billion, which includes grants and contracts from government, income from trading and investments and other sources.
Beth Breeze of Kent University, author of the report, concludes, “The significance of million pound donors to the sector is therefore clear, as less than 200 donations contributed almost 5% of general charity income. Assuming most of these donors also made further donations worth less than £1 million, their value to the health of the charity sector becomes even more apparent.”
The report was released at the launch of the Centre for Philanthropy, Humanitarianism and Social Justice (CPHSJ) at the University of Kent and is available on the University of Kent and the Coutts websites.
Beth Breeze is also Philanthropy UK’s Publications Editor.
