Million-Plus Giving Reaches Record High in U.K.
May 9, 2014 | Read Time: 1 minute
A record 165 British philanthropists donated more than £1-million, or about $1.7-million, to charity last year, and 20 donors gave nearly $34-million, Third Sector writes, citing the annual giving list compiled by U.K. newspaper the Sunday Times.
Supermarket mogul David Sainsbury and his family topped the roster, donating about $280-million to family trusts and charities in 2013. The Sainsburys also ranked first in giving as a percentage of their overall wealth. The number of million-pound donors rose from 138 in 2012, and total contributions by those on the list topped $4-billion, a 15-percent increase.
Beth Breeze, director of the Centre for Philanthropy at the University of Kent, said the Times Giving List, which focuses on people on the newspaper’s annual Rich List of ultra high-net-worth individuals, is a valuable tool for encouraging competition among wealthy donors but tells only part of the story of U.K. philanthropy.
“I think fundraisers have the same reaction to these figures as I do, which is where is the money?” she said. “The answer is that most of the donations go to foundations and, if you’re a smaller charity, you’re lucky to get £1-million.”
See The Chronicle of Philanthropy’s Philanthropy 50 list of last year’s biggest U.S. donors.