# Wealth Management Survey features philanthropy

- Link: https://fundraising.co.uk/2005/11/17/wealth-management-survey-features-philanthropy/
- Published: 2005-11-17T00:00:00+00:00
- Author: Howard Lake

The latest issue of Wealth Management Survey, a bi-annual title for high net worth
individuals in the UK, features the growth of venture philanthropy in London.
The
article, “Donation Nation”, by Alan Binnington, reports that “a new wave of American-
style ‘venture philanthropy’ is hitting London”. It describes the rise of the “exclusive
givers’ club” including members such as Sir Paul Getty, Lily Safra and the Sainsbury
family.

Pointing to the introduction of payroll giving in 1986 and Gift Aid for individuals
in 1990 as contributing factors to this new development, Binnington contrasts these
moves with the USA where tax relief on charitable giving has been available since
the 18th century.

He then contrasts charitable giving rates in other countries, using the Johns Hopkins
University studies. In the USA, just over 1% of GDP is given to nonprofits by individuals.
In the UK the figure is 0.62%, in France 0.28%, and Italy 0.09%. There are explanations
for these differences, he notes, not least traditions and expectations of government
involvement in social care.

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Binnington suggests that one of the main drivers in the growth of venture philanthropy
whether in London or elsewhere is the attraction of active participation in charities’
projects. “An entrepreneur who has sold his or her business and who wants something
a bit more exciting than reviewing portfolio valuations… may well turn to venture
philantrhopy, the charitable version of venture capitalism, to generate a bit more
excitement”, he writes.

“Donation Nation” is one of a number of articles on charities and philanthropy published
in Wealth Management Survey.

The magazine is published by Spear Media, although it is not listed on their website.

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