While Australians give less to charity than their American peers, the way in which we give is changing according to Andrew Thomas, Perpetual’s General Manager of Philanthropy. He suggests that Australia will move away from a ‘drop and run’ donation in the future.

‘Philanthropists are beginning to put more thought into how to give in a meaningful, sustainable way. They are also becoming more selective in who they give their money to, and why,’ he says.

Non-profits need to be more transparent

According to Andrew, non-profit organisations are realising they need to be more transparent about where they direct their funds and how productively these funds are being deployed.

‘The economic crisis and a subsequent drop in donations served as a wake-up call for many non-profit organisations. They are now looking to incorporate more business-minded strategies to attract investment and demonstrate their efficiency and effectiveness,’ he said.

Philanthrocapitalism in focus

To promote discussion on becoming more effective at helping our communities, Perpetual is hosting forums for philanthropists and non-profit organisations over March.

The forums are conducted by Matthew Bishop and Michael Green, authors of the book ‘Philanthropcapitalism: How giving can save the world’. They are discussing the big challenges faced by society and the role philanthropy can play in inspiring solutions.

According to the authors, Philanthrocapitalism is a new way of doing good, mirroring the way business operates in the for-profit, capitalist world.

Matthew and Michael will draw on insights gained from their interviews with some of the most powerful and influential people on the planet, including Bill Gates, Richard Branson, Angelina Jolie and Bono, as they speak to Australian audiences. 

Perpetual’s Andrew Thomas says, ‘Obviously, not everyone can make individual multi-million dollar contributions. But it is clear Australia needs a more concerted giving effort, and local philanthropists can learn a lot from the big players overseas.’

‘These forums aim to promote thought and discussion about these important issues – how we can make smarter and more effective contributions to our communities to drive societal change for the good.’

Read the full media release

Learn more about the Perpetual Foundation and our role in philanthropy.

Perpetual Philanthropic Services and advice are provided by Perpetual Trustee Company Limited (PTCo), ABN 42 000 001 007, AFSL 236643. This information has been prepared by PTCo. It contains general information and is not intended to provide you with advice or take into account your objectives, financial situation or needs.