Jersey Community Foundation has achieved a significant first milestone in its commitment to promoting a culture of giving in Jersey, as part of a drive to address critical social issues in the island.
Two impactful events focussing on the importance of communication between wealth advisers, charities and private donors, as well as exploring donor motivations and effective donor engagement strategies, were held on Thursday 2 May. These events attracted significant participation, with a total of 250 attendees and were the first in a series of events designed to encourage a culture of philanthropy to address the needs of Jersey’s community.
The events featured engaging discussions led by esteemed panellists, including high-level figures from the philanthropic and financial sectors. This included Professor Beth Breeze OBE, the UK’s first ever Professor of Philanthropic Studies; Ross Badger, Trustee of the Sedel-Collings Foundation; Fiona Waite, Client Director and Head of Local Private Clients at RBC; Nick Kershaw, Co-Chair of Jersey Community Foundation; and Stephen Platt, CEO and Founder of KYC360 and a Director of Jersey Community Foundation.
Jersey Community Foundation (JCF) believes that the presence of High-Net-Worth Individuals (HNWIs) and other wealthy, community-minded people in Jersey presents an opportunity to cultivate a culture of philanthropy that encourages local giving to areas of proven need.
HNWIs and other well-resourced people bring significant benefits to Jersey’s economy, including job creation, investment opportunities and philanthropic contributions that support islanders through local charities and community initiatives. JCF’S aim is to bring together local donors and those acting to provide positive solutions in our communities for local people.
Recent figures from Jersey’s first ever Local Needs Assessment (JCF, 2022) underscores the urgency of this balance and the stark socio-economic challenges on the island.
Over 53% of the island’s residents struggle to meet basic living expenses, while 61% face difficulties managing unexpected bills of £400. Additionally, income disparity remains a pressing issue, with the top 10% of earners averaging seven times more income than the bottom 10%. In contrast, research and analysis by The Beacon Collective as part of their 2023 ‘Scoping the High Net Worth Philanthropy Market’ report estimates that giving by the UK’s HNWI and Ultra High Net
Worth Individuals (UHNWI) population for 2022 was worth around £7.76 billion, highlighting the significant philanthropic potential of Jersey’s wealthiest individuals. Recent local data also shows that the amount of money banked in Jersey has hit a 12-year high of £156.4 billion.
Several notable examples showcase the impactful contributions of HNWI to Jersey’s philanthropic landscape. For instance, Kezia’s Fund which supports children and young people’s mental health, as well as local environmental and conservation initiatives, have attracted support from wealthy donors who want to help address our island’s pressing needs and inspire others to get involved and make a difference in our island community.
Beth Breeze OBE, said: “Building a culture of giving is about more than donating money, it’s about recognising our shared humanity and common fate as neighbours. Research shows that when done well, philanthropy can strengthen communities and change the lives of both beneficiaries and donors. When we come together to give back, we can create a better world for everyone, now and in the future.”
Anna Terry, CEO and JCF, said: “We are committed to raising awareness of the power of philanthropy to drive real change and make a positive impact in our community. Our goal is to grow a culture of giving, addressing the island’s most pressing needs while creating a more equitable and resilient society for all.
“We were delighted to see such enthusiastic participation from a diverse range of stakeholders. These events serve as a testament to the growing momentum behind philanthropy in Jersey and the collective commitment to driving positive change during challenging local and global times. I would like to extend my sincere thanks to all attendees and panellists for their invaluable contributions to the success of these events and encouraging a culture of giving to support islanders.”
Picture: The Panel at The Culture of Philanthropy on 2nd May 2024. Credit: Rod Bryans
