[TOP STORY] How much did we give last year?

0:00Money Web Now on the Money This podcast is brought to you by Standleb Acid Management Invest in more global opportunities through their partnership with JP Morgan Acid Management You're waiting to get Tracy Mullen on the line, she of course has advice and I've got Thurntpitty at Nedbank Private Wealth Tracy we have you on the line, your last edition of the Giving Report Looking at how South Africans are giving or helping those less fortunate I suppose the headlines are going to be, how much did we give last year? So good morning Simon and to your listeners as well So yeah, really a good news story South Africans gave in three different ways So they gave money, they gave in goods and they also gave of their time In terms of money and the value of goods that was just under six billion round Wow, okay, wow that is a giant number But I like what you say, I mean to be clear money matters

1:03Absolutely it does, six billion is a big number But time can matter as well and other bits and pieces can matter Giving of time and giving of other things is equally as important and maybe in some cases a little bit more Absolutely, couldn't agree more And you know the contribution was about, I think it was about 3.1 million in volunteer hours That was given to nonprofit organizations And if you just think about it Simon for some of those nonprofit organizations To have someone that is say an accountant or a lawyer Or someone that's just actually coming to help out to be an extra set of hands That can make a huge difference in the life of an organization So hugely valuable when individuals actually volunteer time to these organizations I hadn't thought of that, it's expert time Sometimes it's washing dishes will lead in the garden But sometimes you are an expert in your particular field and you can give that

2:04What is the age demographic? I mean typically we think around the sort of giving will be the older generation They're in retirement, they've got time because they have retired Does that bear out to are we seeing younger South Africans involved as well? So interestingly enough this time round we seeing a waste over a third of the individuals Are actually younger generation that are actually giving And it's really interesting to see because you know, historically philanthropy and philanthropists To your point has been linked with the older generation Individuals that build wealth over a long period of time What we see coming through this report now is the younger generation are actually giving of their time So they may not have the money to give initially whilst they're build up the wealth But they are wanting to make a difference as soon as possible So even if it's not giving financially, it's giving of their time It's sitting on boards, it's like I said earlier helping out with these organizations

3:05So definitely a shift towards seeing a younger generation emerging as the current givers And is this changing the sort of the I don't know the face of the non-profit sector in South Africa? It's important the world over my sense is maybe particularly because of our unemployment and our poverty Perhaps even more important in South Africa This sort of all be seeing a shift happening in terms of the space because of a 6 billion giant number But be lots of time, lots of support, lots of expertise So we are seeing a shift happen but I think I just need to qualify that as well Because you know, 6 billion sounds like a lot But can you look at these over 300 registered non-profit organizations that are all doing amazing work It doesn't go very far So I mean we are definitely seeing a shift And I think you know one of the things that's come through the report as well

4:07Is there needs to be more alignment with the funding Because if you have more alignment in terms just as an example You know, donating through a collective giving vehicle as an example If everybody pulls funding, it means that that funding you can grow that funding And it can actually potentially do larger projects and have greater impact Because you've got that collective giving kind of structure that's happening So I think you know to create impact You know, it requires a community It's not an individual that's going to be able to do it all couple of individuals It actually requires a community to be able to really make a difference The cliche that takes a village it absolutely does A last question, I mean oftentimes my sense is that And I know I'm guilty of this sometimes I sign up the debit order, the money goes off every month I kind of feel that I'm doing something

5:07But I'm not quite sure where it's ending, if it's been effectively used etc Are we seeing donors perhaps looking for more transparency, more evidence of impact And to be clear, not to say it isn't happening But just to sort of make sure that it is happening Absolutely and that's another thing that came through the findings in this report Because we're seeing to that point, we're seeing donors wanting far more transparency We're seeing more donors actually going to the organizations to understand how they operate How are they using that money that they've received But some and one of the things that I just want to quickly touch on Because you mentioned you've got a debit order going off And this was very key for me in this report Do you know that only 20% of the givers have made provision in their wills For a legacy to continue to organizations So in your case, just going to plant this with you But if you've got a debit order going off your account today And you know, God forbid anything will happen to you, your giving stops

6:09Yeah It is important to also consider legacy planning when it comes to setting up a will I hadn't thought of that I think I have a letter for when I'm dead and I think I talk about it in there But actually it should be more formal It should be in my actual lossful and testament Otherwise, those contributions suddenly vanish with me and that let these people high and dry But the numbers are great and I've had to point Tracy 3.1 million hours, 6 billion round Big numbers but there is a big, big need out there We'll leave it there, Tracy will have advice and through entropy at net bank private wealth Appreciate the early morning time This podcast is brought to you by StandLib as its management Invest in more global opportunities through their partnership with JP Morgan as its management