Behaviourally informed approaches and the use of randomised controlled trials (RCTs) have the potential to result in major behavioural change for a relatively small investment cost.
The former Minister for Social Services, the Hon Christian Porter MP announced total funding over three years of $835,000 for BETA to undertake planned giving projects at the Philanthropy Meets Parliament Summit, September 2017.
Preliminary work undertaken collaboratively between the Partnership, Workplace Giving Australia and Philanthropy Australia scoped initial project topics and areas for exploration. These ideas were further explored and tested with BETA and key stakeholders resulting in the following projects being undertaken on a rolling schedule:
The planned giving projects are scheduled for completion in 2020.
A key finding of the Giving Australia 2016 research was that planned giving delivers six times more donations than spontaneous giving.
Practical strategies to increase planned giving in Australia is one of the key focuses of the Prime Minister’s Community Business Partnership (the Partnership).
Planned giving, including workplace giving and charitable bequests in Australian wills, can provide a reliable source of income for the not for profit sector.
In 2016-17 less than 5% of employees in Australian workplaces where workplace giving programmes are offered had actually signed up to participate. Within the government sector at local state and federal levels, baseline sign up rates are even lower at 3.1%.
Giving Australia revealed that less than half of adult Australians have made a will and of this amount, 7.4% have included a bequest to charity. With an increasingly ageing population in Australia, charitable bequests in wills could significantly contribute to the charitable and not-for-profit sector as part of an anticipated wealth transfer over the next two decades.