Economic downturn, philanthropic upturn

Despite the recession, the popularity of philanthropy continues to grow, as we found at the Coutts Forum for Philanthropy in April 2009. We surveyed a panel of philanthropists at the forum and 87% said they are expecting to either increase or maintain their giving over the next year, despite the economic downturn.

So what’s driving them? Though there are many reasons for giving, the most often cited is that it is an enjoyable and rewarding experience. Victor Hugo once said that “as the purse is emptied, so the heart is filled”, and for many, philanthropy does just that. It gives people pleasure and enriches their lives by knowing they are making a difference. In fact, Coutts recent pulse survey found that a ‘desire to give back’ to the community is one of the key motivations for philanthropy.

For the full article, as found in our recent Professionals Perspective publication,  please click here. 

Further information

Please contact either Mark Evans, Head of Philanthropy on mark.evans@coutts.com or Maya Prabhu, Senior Philanthropy Advisor on maya.prabhu@coutts.com for more information on the Coutts Philanthropy Advisory Service or visit  www.coutts.com/philanthrophy.