Charitable giving, also known as philanthropy, is a valuable source of alternative funding for the Australian life sciences sector that are considered to have charitable status by the Australian Taxation Office.
Philanthropy is an important source of funding support for research. A consistent and sizeable pool of philanthropic funding has the potential to boost our national capability significantly. Fortunately Australians have a strong connection and high regard for research and provide many millions of philanthropic dollars, particularly in the field of life sciences. However, the funds available to research organisations are relatively small and competition for these funds is robust.
The 'Giving to Health and Medical Research: Research Australia Philanthropy Toolkit' was launched in September 2009.
The Toolkit contains information, advice and resources to guide and promote philanthropic giving to health and medical research. As a practical resource, it will help those who do the research, and those who seek to support a worthy philanthropic cause. It will also foster improved understanding and encourage mutually beneficial, collaborative and lasting relationships. The toolkit is part of Research Australia’s vision to have four out of five Australians giving regularly to health and medical research by 2025.
In 2006, Research Australia published Health and Medical Research Philanthropy: The Fourth Dimension of the Virtuous Cycle. This publication considered the results of Research Australia’s Public Opinion Polls and the 2005 Giving Australia 2 study to ascertain the level of community support for health and medical research.
These results showed that philanthropic support for health and medical research was low by international standards, especially compared to the USA, and also low compared to giving to other causes. The average yearly donation to medical research, according to Giving Australia, was $77 (per giver), compared to religious or spiritual organisations ($529), international aid and development organisations ($234) and arts/cultural associations ($220).
The need to grow philanthropic giving for health and medical research remains. Figures from Access Economics’ latest Exceptional Returns report show that philanthropic giving (classified as “Other Australian” funding) declined relative to business and government investment from 2000–01 to 2004–05.
Research Australia is an excellent source of information if you are a grant ‘seeker’ or a ‘giver’.