the purpose fund

The Purpose Fund (TPF) was created to inspire and positively influence the next generation of philanthropists (givers) in Australia. We recognise the power of philanthropy to generate and facilitate social change, and joining a giving circle is an accessible gateway for young people to become involved - enabling them to use their voice and resources to support the causes that matter to them and their future wellbeing. 

TPF is interested in affecting change across a number of social issues that are often underfunded by traditional philanthropic structures and groups, such as conservation and biodiveristy loss, youth mental health and family and domestic violence. We are looking to support organisations working across the full spectrum, from prevention-based initiatives to those organisations meeting people in acute need, and applying best practice philanthropy by building strong, open relationships with our partners and providing untied funding. 

Contextually, Australia is one of the wealthiest nations globally and we certainly consider ourselves to be a generous people, so it isn't surprising that that we rank fourth in the World Giving Index, which looks at various measures of generosity, including time, acts of service and financial donations. However, we are still well behind our peers when it comes to our philanthropic giving (0.81% of GDP, compared to 0.96% in the UK, 1.84% in New Zealand and 2.1% in the United States)*. Currently in Australia only just over 50% of people who earn over $1m annually claim a tax-deductible donation. In the United States, 90% of those in the same income bracket claim a tax-deductible donation, which suggests we have some work to do to grow and normalise the culture of giving in this country. 

Evidence suggests that attitudes towards giving are established early on in life, with cultural and peer influences strongly shaping these behaviours. Giving circles and other accessible structures are a great solution in growing giving in Australia and bringing young people on that journey, benefiting the for-purpose sector and the wider Australian community. 

This initiative is strongly aligned to Philanthropy Australia's goal to double structured giving in Australia by 2030 and to create a more generous and giving Australia. Please click below for to read Philanthropy Australia's Blueprint to Grow Structured Giving in Australia report.