More philanthropic giving urged

A SUBSTANTIAL increase in philanthropic giving by the corporate sector is being urged in a report to be launched today by Taoiseach Enda Kenny.

The report, by the Forum on Philanthropy and Fundraising, calls for a 60 per cent increase in corporate giving by 2016 and a €10 million social innovation fund.

It calls for “efficient tax and legal frameworks that encourage giving”. Ireland has a proud tradition of individual and collective giving, it says.

The report adds that in addition to its societal and cultural roles, the not-for-profit sector is a major industry sector in its own right, employing more than 100,000 people.

It says the forum “believes that there is an opportunity to substantially increase the level of private sector investment in the sector by creating a favourable environment for individual and corporate philanthropy in Ireland, and developing fundraising capacity.

“Increased investment in the sector will generate increased employment in local communities, build social capital and support the movement for national reform and national renewal.”

The forum sets a target for increasing philanthropic giving from its current level of about €500 million to €800 million by 2016.

The report’s four key recommendations are: establishing a national “giving campaign”; improving the fiscal environment and infrastructure for giving; developing fundraising capacity among not-for-profits; and creating a national social innovation fund.