Charities in Scotland are raising more than £90 million a year from gifts in Wills, according to a joint report by Remember A Charity, Legacy Foresight, the Institute of Legacy Management, and Smee & Ford.
The report, Building back stronger with charitable legacies, was released in September. The first collaborative report on the Scottish legacy market from the four legacy bodies, it features new market data, insight from Scottish legacy experts, and recommendations for how charities can strengthen their legacy fundraising programmes during times of uncertainty.
It reveals that legacy income to Scottish charities has been growing at an average of 7% per year, exceeding the 4.6% average growth rate for English and Welsh charities.
Each week, 47 people in Scotland leave a gift to charity in their Will, with consumer polling indicating greater growth potential, with 42% of people in Scotland aged 40+ saying they would be happy to give in this way.
And, while it is estimated that just 50 registered Scottish charities generate 70% of legacy income, the market is broadening. From 2013 to 2018, there was an 18% increase in the number of Scottish charities named in Wills. Altogether, around 500 Scottish charities now benefit from gifts in Wills each year, with almost two thirds of those smaller charities and community-based organisations.
Rob Cope, Director of Remember A Charity – a consortium of 200 charities, said:
“The Scottish legacy market is at a tipping point. On the verge of the biggest international wealth transfer in history, Scottish supporters seem to be feeling even more closely connected to the good causes they care about, with more and more people choosing to leave a gift in their Will.
“Legacy giving may be less prevalent currently in Scotland, but consumer studies show that Scottish people are even more willing to consider leaving a gift than those south of the border. So, there’s an even greater opportunity for growth and for the sector to work together to normalise gifts in Wills. And, as the sector builds back from the pandemic stronger and more resilient, that income will be all the more vital.”
Meg Abdy, Development Director at Legacy Foresight, added:
“Over the past two decades the number of Scottish charitable estates has grown by over a quarter, while the value of those estates has trebled. This means a lot more money for the causes Scottish people care about, whether that’s at a local level or to help those in need on the other side of the world. Looking ahead, these trends are set to continue; creating huge opportunities for those charities with the ambition to convey their legacy vision to a new generation of legacy donors.”
Photo of Edinburgh Castle by Kevin Phillips on Pixabay
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