Charities Aid Commission Reveals How Much High-Net-Worth Individuals Have Been Donating

Latest figures from CAF (the Charities Aid Foundation) revealed that nearly £8bn was given to charity in the UK during 2023 by high-net-worth individuals.

The figure came as part of their High Value Giving Report, and revealed that the UK’s wealthiest 1% donated £7.96bn to NonProfit causes, equating to about 0.4% of their combined investible assets.

A separate report, the UK Giving Report, also released by CAF, showed that in the same period, the rest of the UK public donated around £13.9bn to NonProfit causes, which made up around 1.6% of their income. 

CAF estimates if that 0.4% figure were rounded up to just 1%, it could have generated an additional £12bn in donations for UK charities.

They further estimate that there are likely around 537,000 HNW (high-net-worth) individuals currently residing in the UK, defined as having over £1m in investable assets but excluding the value of their main property and any pension funds.

The report also revealed that the typical causes supported by the UK’s wealthiest were significantly different to those supported by the rest of the public.

The report shows education as the most popular cause to support for wealthy donors – with six out of 10 donating to education related NonProfits. That’s in contrast to the rest of the UK, where only 4% of donors gave to education related causes.

Similarly, 26% of HNW donors gave to arts and culture causes, with only 3% of the rest of the UK population following suit.

The report goes on to conclude that there’s an estimated £5.5tn in wealth expected to transfer from the current post-World War generation to younger generations over the next 24 years. CAF predicts that will make the next generation the “most significant charitable donors in history”.

Given the intergenerational transfer of wealth, it is important for charity fundraisers to understand trends in high-net-worth giving, how donors are choosing to give, such as through donor advised funds, and the causes that they care about. There is considerable untapped potential for philanthropy to contribute towards tackling local, national and global challenges. Donors, particularly among the next generation, are increasingly considering their giving as part of the spectrum of capital they can invest within the broader impact economy. The government can take steps to harness this and renew Britain’s culture of giving to strengthen civil society for the future, with high-net-worth individuals and professional advisers playing a leading role.

Edward Garrett – Head of Private Clients, CAF