In the United Kingdom, the value of charitable donations worth £1 million, or more, fell by 7.7 percent to the lowest level in five years, according to the annual Coutts Million Pound Donor Report, published by the Centre for the Study of Philanthropy, Humanitarianism and Social Justice at the University of Kent.
Gifts of £1 million, or more, totaled £1.2 billion for 2010/11, down from £1.3 billion in 2009/10.
Fortunately, the news is not all bad:
In 2010/11, the number of individual donations of £1 million, or more, totaled 232, the largest number since the report’s first study in 2008.
In addition, the number of donors who gave £1 million, or more, totaled 130 (including individuals, charitable trusts, foundations and corporations). This is a huge increase over 2009/10 when the number was just 73.
The report contains a number of other interesting insights including:
Individuals and their Personal Foundations accounted for 61 percent of the value of £1 million, or more, donations.
The average value of £1 million, or more, donations was £5.3 million. However, the median value was £2 million.
166 organisations received at least one donation of £1 million or more.
62 percent of all donations of at least £1 million came from donors based in London.
40 percent of donations of £1 million, or more, went to private trusts or foundations, the most popular destination.
33 percent of donations of £1 million, or more, went to higher educational organisations, the second most popular destination.
8.8 percent of donations of £1 million, or more, went to arts and cultural organizations, the third most popular destination.
For more information, you can download the entire report at no charge, here.
That’s what Michael Rosen says… What do you say?
[Publisher's Note: "Special Reports" are posted from time-to-time as a benefit for subscribers and frequent visitors to this blog. "Special Reports" are not widely promoted. To be notified of all new posts, including "Special Reports," please take a moment to subscribe in the right-hand column.]