Legacy income to charities in Ireland has grown by over 60% between 2015 and 2019, according to a new report from fundraising and prospect research agency, Campaign Solutions.
From 2015 to 2019, at least 116 Irish charities are known to have received income from charitable bequests, amounting to €234 million of legacy income. Annual legacy income rose from €30.5m in 2015 to €49.1m in 2019, although income peaked in 2017 at €72 million when Elizabeth O’Kelly’s exceptional legacy of €30 million was gifted to five charities.
The Legacy Insights Ireland report finds that a relatively small number of organisations (10 charities) received over 60% of all recorded legacy income each year, rising to a high of 75% in 2017. However, the number of organisations benefitting from legacies has risen consistently from year-to-year, reaching 95 in 2019.
Writing in a blog for Charities Institute Ireland, Niall O’Sullivan, founder of Campaign Solutions, says:
“There are numerous examples of charities increasing their income two, three, four and five-fold. In most cases, these charities have proactive legacy plans in place. Many other Irish charities are not yet securing any or in other cases, only sporadic legacy income.”
Commenting on more recent changes to the legacy market, he adds:
“In part, because of Covid, the legacies landscape has changed – dramatically. The number of people writing or updating wills has increased. Charities have seen fundraising channels disappear. They now better understand how legacy income could be a welcome, and perhaps in time, more stable source of funding. Waiting and hoping, or having legacy on the bottom of the to do list is no longer an option.”
Read further insights here.
Photo by Hunt Han on Unsplash
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