The future of high impact philanthropy
The British Asian Trust recently brought together leaders from diverse organisations representing philanthropy, foundations and the private sector, for a special event to discuss the future direction of high impact philanthropy.
The event at Clarence House was an opportunity to share high-level insights into trends, challenges and the exciting developments to impact philanthropic giving over the next ten years. The wide ranging and lively debate explored what motivates people to give and highlighted key successes and areas of interest for philanthropists. The session also shone a light on the social and regulatory trends that are likely to change the face of philanthropy over the years.
An emerging trend was that of modern technology increasing transparency for donors and therefore reshaping their approach to giving. With increasingly new tools at our disposal to carry out research as well as fund projects and organisations, many wondered whether international NGOs will continue to exist and whether philanthropists support local organisations more directly. But this growing focus on data and evidence risks neglecting the emotional motivation for philanthropy, which many felt is still a top driver for giving.
As an increasing number of philanthropists emerge from the growing economic powerhouses of India, China and elsewhere, there will be a significant reshaping of global philanthropy.
Questions were raised about the difference between local philanthropy versus support coming from outside a country.
Interesting questions were also raised around the sense of ‘home’. With a greater movement of people around the world, many questioned whether people should give to their current home country or give back to their ancestral homes, a particularly pertinent question for those who are second or even third generation migrants.
Other key trends identified included the continued importance of social media, different platforms for giving and increased government scrutiny and control on philanthropy.
Overall the event provoked lots of lively debate and encouraged everyone to think about philanthropy and how it is going to change over the coming ten years. It produced some very interesting new insights which will now be taken to other events across the world for others to discuss and debate. The British Asian Trust would like to thank Future Agenda for presenting the workshop and bringing the insights on high impact philanthropy from the other workshops they have had around the world.
Kevin Groome, Head of New Projects and Partnerships