Research by philanthropy experts at the University shows that charitable donations worth more than £1m are at their highest level since 2008 and that higher education remains the main recipient.
The 9th edition of the Coutts Million Pound Donors Report, produced in association with Dr Beth Breeze and Dr Kayleigh Flaxman of Kent’s Centre for Philanthropy, found that £1.83bn was donated through 355 gifts to charitable causes or foundations in 2015.
The report tracks the number, size, scale, and destination of £1m+ donations made by individuals, foundations and corporations in the UK.
Dr Breeze and Dr Flaxman’s research shows that there was an increase of 17% in the total value of donations (up from £1.56bn) and an increase of 19% in the number of donations (from 298) when compared to the previous year.
In addition, 68 first-time million pound donors were identified in 2014 and 2015, and seven of the first timer donors from 2014, gave again at this level in 2015; collectively suggesting that this ‘boom time’ for large scale donations is driven by the emergence of new philanthropists in the UK.
Higher education remains the main recipient of philanthropy at this level, receiving more than one-third (35%) of the total donation value. However, an increasing number of organisations are benefiting from million-pound gifts.
The number of charities receiving at least one 7-figure donation rose by nearly 10%, while beneficiaries of multiple gifts included arts, culture and heritage organisations, health and medical charities and those supporting children and young people in the UK and overseas.
The total value was boosted by four single donations each worth £30m or more, two of which were placed in foundations for future distribution to charitable causes, and two were given to universities.
The Centre for Philanthropy is part of the University’s School of Social Policy, Sociology and Social Research.