Local Philanthropy is thriving in Somerset

Somerset Community Foundation has welcomed two recent reports exploring trends in philanthropy in the UK, offering encouraging news for good causes in Somerset.

Barclays Wealth has published “Tomorrow’s philanthropist” based on research in the UK and US. The research revealed that the majority of philanthropists had not reduced their giving since early 2008 and more than a quarter had boosted their donations.

The report reveals that the pattern of giving may be changing as "smaller, nimbler and more accountable charities are becoming increasingly attractive to donors compared with large traditional charities" particularly amongst a "a new breed of wealthy philanthropists who are more socially aware and more motivated to give back to the communities they came from"

Emma Turner of Barclays Wealth said “In some ways, the recession and its knock-on effects have galvanised the attitudes and approaches taken by wealthy donors”

Meanwhile the Institute for Family Business has also published its research into philanthropy. It shows how family-run firms are often very committed to putting something back into their local community, noting how this reflects the values of the family and business and can help strengthen family bonds. Indeed in both reports there is evidence that the next generation is showing an increased interest in social issues and the choices they can make to improve society.

Both reports also highlight how more structured approaches to targeting support, including using community foundations and professional advisors, can increase the impact of local giving. '

Justin Sargent, Director of Somerset Community Foundation said “Both of these reports reflect trends and patterns we have seen in Somerset over the past 12 months. The Community Foundation provides a link to connect donors with smaller, frontline charities and community groups and an increasing number of donors are using us to make sure their giving makes a real difference to Somerset.”

With the help of over 100 local families and businesses, the Community Foundation exceeded the first year target of the Government’s Grassroots Grants Endowment Match Challenge and is now working towards the second year target to raise £208,000. The scheme offers an incentive to local donors to invest in a long-term fund supporting local communities by doubling the value of their donations.

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