Source: JBWere Philanthropic Services
Analysis of the long-run giving trends in the US shows the slowdown (a fall in 2009 and 2010) in giving during recessions, mainly by individuals. From 2007 to 2009, giving in the US fell by the largest amount on record, 12% over two years as gross domestic product (GDP) fell 3.7% and corporate pre-tax profits fell over by 25%.
Figure 2. US charitable giving
Source: Giving USA, JBWere Philanthropic Services
The remainder of this paper looks at the different types of giving, and our outlook for each.
Among the positive factors are:
Figure 3. Australian tax deductible giving, 1979-2017
In the first significant test of fundraising during the coronavirus (COVID-19) which usually involves a high level of community involvement across a whole state, the Good Friday Appeal for the Melbourne Royal Children's Hospital was forced to cancel a multitude of fundraising activities including the Kids Day Out, Run for the Kids, Cadbury Easter Egg Hunt, AFL Kick for the Kids match and many state-wide 'tin rattling' events. Even the usual all-day telethon was reduced to one hour. The annual event, conceived in 1931, concluded with just over half of the previous years' total being raised.
In a welcome development, also mirroring that being seen in many other areas of the economy, The Victorian government stepped in to provide the balance to match the previous year's total. While we do not expect all fundraising to drop by this extent, it is an indication of the current difficulty facing broad community event based activities.
Figure 4. Good Friday Appeal, Melbourne Royal Children's Hospital
Source: http://www.goodfridayappeal.com.au, http://www.premier.vic.gov.au, JBWere Philanthropic Services
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Kumar Palghat made his millions as a star fund manager, first at PIMCO and then at his Sydney boutique Kapstream Capital. Nearly a year after announcing his retirement, he's turning his investment prowess towards managing his family's money. Kanika Sood writes.
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