Social enterprise: A prime lever to lift philanthropy?

Abstract

This paper identifies key barriers for Australian financial advisers in assisting their high net worth clients with philanthropy and suggests that one may be addressed, in part, by exposure to social enterprises. This topic speaks directly to the social issue of how to increase philanthropy or larger donations by individuals in Australia. With an ageing and increasingly diverse population, social needs are expected to grow, yet traditional government funding of nonprofit organizations (NPOs) which seek to meet these needs is less stable and more competitive. One response by NPOs is to seek the support of wealthier individuals who have the potential to donate at higher levels than average Australians. In turn, financial advisers are a strategic intermediary group for NPOs in influencing such individuals’ behaviour.