Australia is traditionally a giving nation. Australian’s have a deep-seated code of ‘mate ship’ believing that everyone is entitled to a ‘fair go’. If one of us is in need then we rally together to support those less fortunate (e.g. just recall natural disasters such as bush fires, cyclones or tsunami). Many of us have and still do donate to a charity on a regular basis. Others make ad-hoc donations to various charities when approached (e.g. Red Cross door knock appeal).
You don’t have to be wealthy to be philanthropic. Many people give little or no money but rather volunteer their time and/or expertise in their local community and/or to a charitable organisation. For wealthier Australian’s who make larger donations it is often more effective to channel giving ideas into a planned giving vehicle such as their own Private Ancillary Fund (PAF).
In what is the first of a series of three articles on philanthropy, we provide insights into what is philanthropy, some motivators on why people give, examples of significant philanthropists and explore avenues on how to give. Finally, we provide a link to on-line resources should you wish to read further.
What is Philanthropy?
Philanthropy Australia provides a formal definition as ‘the planned or structured giving of money, time, goods and services or other to improve the well-being of humanity and the community”.