How have philanthropists responded to COVID-19 impact? What trends have we started to see?
Philanthropists have responded quickly since the start of the COVID-19 crisis. We have started seeing the following trends, which others might look to for inspiration:
- fewer conditions being attached, with less burden and expensive processes required to show success and impact, and more flexibility as to how funds are used
- significant increases and acceleration of giving in recognition that COVID-19 and the issues it exposes, requires an extraordinary response
- increased partnerships with others for greater impact, working also with government bodies and with local communities focusing on urgent relief
- new inclusion of businesses and individuals to established charitable enterprises driving distribution of goods and services
- more immediate local giving with partners that understand the issues of the community and with welcome focus on organisations led by young people from minority groups
- less support for established medical and health care charities, museums and Arts based institutions, and global international charities
- more impact investment interest from philanthropists in health care, digital diagnostic and immunisation based investments and vaccines, if they don't already exist
- new recognition in the value of supporting the public sector may lead to new funds being directed to government initiatives to tackle issues exposed by COVID-19.
Whatever you wish to achieve in giving now to solve immediate issues, or over the longer term as part of a charitable strategy or a strategic investment in philanthropy, or impact investing, we can explain the choices you have and the risks you have to consider. We can also connect you to the relevant organisations and other interested parties.