Million pound donations at a record high in 2013
Howard Lake | 6 November 2014 | News
The Coutts Million Pound Donors Report reveals that 292 gifts of £1 million or more were made to charities or banked in foundations during 2013, the most such gifts since donations were first tracked in 2008. In 2012 the figure was 197 gifts.
The value of the gifts is steady though, rising just under one per cent on 2013’s figure, up from £1.35 billion to £1.36 billion.
The number of unique donors increased by 70% from just 98 to 166.
The research tracks the number, size, scale, and destination of donations of £1 million or more made by individuals, foundations and corporations in the UK. It is produced in association with the University of Kent.
Total number and value of £1m+ gifts from 2008-20013. Coutts Million Pound Donors Report
The number of gifts by individuals fell but the number given by organisations increased. From 2008-2011 corporations have accounted for around 10% of the total value, but in 2013 they represented a high of 15%.
The source of £1m+ donations in 2013.
Higher education secures most £1m+ donations
In line with the 2013 report, higher education institutions are the most popular beneficiaries of these gifts: 65 (41%) of all the gifts recorded, worth £552 million, were used to fund research projects and scholarships. Indeed, higher education institutions received seven of the ten largest donations in 2013, each of them larger than £30 million.
Thirty three UK universities received a gift of £1 million or more, and 11 of these saw more than one donation at this level. Oxford University received 12, and Cambridge seven. In addition, nine other higher education institutions received at least one gift of £10m or more.
The next most popular sectors were:
* Foundations – 78 gifts of £1m+
* International – 29 gifts of £1m+
* Arts, culture & humanities – 25 gifts of £1m+
London produces most million pound donors
Not surprisingly London is the source of the most million pound donors, responsible for 169 donations and 69% of the total value. If you combine London with the South East, this accounts for around three-quarters of the total in million pound donations made in 2013.
The next largest source was North West England, with 6.5% of the total value of gifts. With 16 gifts, it was the only other region were the number of donations exceeded 10.
Gifts of £1m+ by location. Source: Coutts Million Pound Donors Report
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Largest gift
However, the largest gift in 2013, for £75m, did not come from London but overseas.
Key role of major gift fundraisers
Dr Beth Breeze from the Centre for Philanthropy at the University of Kent, co-author of the UK report, said:
“This finding marks a new stage in UK philanthropy, when ‘giving a million’ becomes the new normal for those that have the capacity to give at the highest level. We have long known that social norms and social pressure are key to encouraging philanthropy: the heightened attention on major givers in the media, and the increasingly positive climate for philanthropy in the UK, have combined to nudge people towards making more significant donations than they might otherwise have done”.
She added that these gifts were often the result of professional research and cultivation by charity fundraisers. She said:
“We should also acknowledge the role that the fundraising profession has played – many charities now devote substantial time and effort in attracting and looking after their biggest givers. Having well-trained and trusted people that are willing to make a compelling ‘ask’ for seven-figure sums, enables more charities to benefit from the generosity of our wealthiest donors.”
Coutts Million Dollar Donors Report
The findings on UK major gift donations are part of the wider scale Coutts Million Dollar Donors Report, which tracks major philanthropy internationally covering the US, Russia, China, Hong Kong, Singapore, Middle East (GCC) and the UK. This report analysed $26.3 billion in donations of $1m or more, up from $19bn last year.
Interviews with major donors in the UK and internationally can also be viewed on the report’s website, including Sarah Butler-Sloss, Sir John Hegarty, Bill Holroyd CBE DL,Harvey McGrath, Dr Fred Mulder CBE, and Alberto Lidji of the Duke of Edinburgh International Award.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.