Next generation givers leaning towards philanthropy now more than ever: Report

By PTI
NEW DELHI: Families in India have shown great traction in their philanthropic actions over the last year as they deployed both short-term relief funding as well as longer term grants to non-profits in the face of the coronavirus pandemic and the momentum is likely to continue this year as well, says a report.

Dasra, a strategic philanthropy foundation, on Wednesday released the top ten philanthropy trends for 2021, as per which, family giving is expected to witness an increase in 2021.

“Next generation givers are also leaning in to philanthropy now more than ever, even if their interest areas are largely varied compared to that of their families.

Overall, family giving is expected to witness an increase in 2021,” it said.

Citing a recent survey by GiveIndia, it said the country’s appetite for giving has radically increased during the pandemic — 85 per cent of respondents plan to increase their giving, with 74 per cent more inclined to contribute to local communities.

“As normalcy resumes, priorities of retail givers might shift but at least a fourth of fresh givers are expected to remain active during this year.

With the advent of new platforms such as the Social Stock Exchange (SSE) in the coming year, this thrust towards expanding the base of givers is expected to grow even further,” it noted.

Further, the report said that over the last year, CSR (Corporate Social Responsibility) capital has drastically diminished, international funding has become increasingly restricted due to FCRA (Foreign Contribution (Regulation) Act) regulations, and an increasing number of family givers are looking to own and operate their own programmes.

“Larger and more well-established non-profits are expected to receive much of the available philanthropic funding.

For mid-size and smaller organisations, recovery will be much slower, if at all,” it noted.

Among corporates in India, while proximate giving has always been an important emphasis, the pandemic has heightened its significance and further pushed CSR funding towards areas in and around company offices or factories – a trend that is expected to continue this year.

The India Philanthropy Trends 2021 is based on collective foresight from the Community of Foundations, a group of professional philanthropic leaders representing 20 of the most influential Indian and international foundations such as The Bill and Melinda Gates Foundation, Rockefeller Foundation, Azim Premji Philanthropic Initiatives, Omidyar Network and Nilekani Philanthropies.