Three takeaways from the Beacon Philanthropy Forum

Opportunities like these are essential to advancing the five actions we set out in our State of UK Philanthropy Research that aim to grow major donor fundraising and strengthen best practice. Below are some of my top takeaways and thoughts on how they could help advance our work to grow giving.

Many discussions centered around how the rise of the impact economy could shape philanthropy. This relatively new movement aligns investment and giving by fostering better partnerships between government, civil society, social impact investors and philanthropists. Members can read more about it in my blog: The rise of the impact economy and what this could mean for fundraising.

Whilst a fairly new economic concept, the government appears to be embracing the impact economy as an opportunity to encourage inclusive growth. Building on the success of previous initiatives, such as the Life Chances Fund, they have allocated £500m to The Better Futures Fund (BFF), and announced a new £11.5m fund to help civil society and local authorities in England collaborate to tackle social problems. On top of this, they have introduced an Office for the Impact Economy to help all governments embed the principles of the Impact Economy into their funding decisions. 

Donors also seem to be warming to the benefits of the Impact Economy. In fact, Barclay’s report The Modern Philanthropist,which surveyed 500 high-net-worth-individuals (HNWIs) found that 41% of respondents preferred traditional philanthropy, whilst 59% focused their goals on creating social impact and financial returns. These views were echoed at the conference during a panel discussion with younger philanthropists, some of whom had completely pivoted their giving strategy towards social investment, whilst others remained focused on philanthropy. 

So, what could the Impact Economy mean for philanthropy in the long term? Whilst social investment and philanthropy will continue to have distinct and unique offerings to HNWIs, there is scope for the two to work in tandem. We could, for example, see more match funding opportunities emerge at government level to increase the amount of statutory funding available to the sector.  

We were pleased to support headline sponsors Barclays curate a workshop exploring how wealth managers and the fundraising community can work together more effectively. Lucy Sargent, Director of Philanthropy and Events at WWF UK, represented the charity perspective in what was a constructive and forward-looking conversation.

Throughout the session, it became clear that professional advisors play a pivotal role in helping philanthropists strengthen their giving strategy. They can help donors clarify their values, structure their giving effectively, and connect them with other like-minded philanthropists. And with Barclay’s recent report The Modern Philanthropist underlining that appetite for these services is on the rise, fundraisers need to consider how to make the most of this. 

Many professional advisors, however, are constrained by regulation on how they can connect charities and their clients. For example, if they do not have a due diligence service, it is very unlikely they will be able to directly recommend specific charities to clients. But as Lucy pointed out during the session, some will be very open to co-creating fulfilling stewardship journeys for donors where charities offer briefings, expert sessions or field visits that advisors can use to educate their clients more about the cause. 

Another key takeaway from the workshop was the importance of clearly communicating impact. Charities that are able to bring their work to life – through compelling data, testimonials, and stories – can make it much easier for potential major donors to see the value of supporting them. Investing in accessible and engaging communications, such as a website or search engine optimisation, can therefore play an important role in attracting philanthropic support. 

The conference featured a standout panel of younger philanthropists who reflected on the actions and decisions they took throughout their giving journeys. While their causes and personal stories varied, several common themes emerged which could help charities understand how to reach and retain these kinds of donors. 

Firstly, they all described giving as a deeply enriching experience. For them, philanthropy was not transactional – it was an expression of their values. This underscores the importance of charities providing meaningful, engaging experiences for donors. The more fulfilling the journey, the more likely it is that giving will grow and continue over time.

Second, peer and advisor influence played a critical role. Advice, examples, and visible actions from others helped shape their decisions, while their own giving often inspired their networks in turn.

Looking ahead to the coming intergenerational transfer of wealth, these insights are especially relevant. The next wave of major donors may approach giving differently, with new perspectives on structure, risk, and impact – and charities that are prepared to engage with these approaches will be best placed to succeed.

What next?