Fourth Annual Philanthropy Report Indicates Strong Momentum from Structured Giving
The fourth annual Engaged Philanthropy Report from leading philanthropic funds manager Perpetual Guardian tells two stories: one of charities under pressure amid funding cuts and lowered giving due to the cost-of-living crisis, and the other of the perennial benefits of structured giving set up years ago, in many cases, by generous and forward-looking philanthropists who sought out careful stewardship of their legacies.
The total philanthropic distribution by the company in FY25 is $37.8 million, an increase of 23.5% on the FY24 distribution of $30.6 million. Perpetual Guardian now has more than 700 charities under management, and the report is capturing some nuance and movement within the main categories of philanthropy activity, with more giving in the arts, education, and social services and moderately decreased distribution to environmental and health-related causes.
Key themes of the 2024-25 report include:
- 2,500 grants were paid in FY25.
- The largest share of giving – $17.55 million, 46% of total funds given – went to social services, up from $10 million in FY24 (+75.5%).
- There was a 50% increase in giving to the arts, from $2 million in FY24 to $3 million in FY25, attributable to both ebb and flow in the timing of giving, with some trusts granting only every two or three years. Arts grants were $1.26 million in FY23.
- Education-focused granting rose to $5.32 million from $3.7 million in FY24 (+43.8%) and $1.5 million in FY23. This FY25 granting represented 14% of all funds given.
- Grants benefitting environmental causes totalled $2.61 million, a 34.8% decrease on FY24. The FY25 granting is closer to an annual average amount for this sector from the Perpetual Guardian portfolio; the previous year’s distribution was much higher than usual due to the arrival of a new charitable fund.
- Granting to health-related causes was $7.92 million, down 13.9% from $9.2 million in FY24. This granting represented 21% of all funds given.
Several trends in FY2025 influenced the pattern of philanthropic distributions from the charitable trusts Perpetual Guardian manages. One major factor was the sheer increase in need as more general cuts to funding affected how much was available to charitable services. The largest need illustrated in the suite of applications was in social services, followed closely by the health sector. In the arts and education sectors there was some positive fluctuation in the organisations structured giving portfolio, both higher in FY25 on the year before due to some trusts giving in this year but not in FY24, and due to higher investment returns.
Perpetual Guardian’s Head of Philanthropy Kirsten Kilian-Taylor says, “We are pleased to report on these results, which show that structured giving in New Zealand is achieving strong momentum and generating real benefits for recipient organisations and the communities they support. While we have not seen growth in giving to every sector year on year, the overall increases we are reporting reflect the foresight of philanthropic givers and the resilience of invested philanthropic capital available to support communities during a period of rising need.
“The trend in the charitable sector are that overall funding is down, including because of government cuts to funding. Many charities are having to close their doors, and many are coming in under fundraising targets. Amid these challenges we are focusing on our role as a manager and promoter of structured, long-term philanthropy. Maintaining a long view around the stewardship of capital for financial and philanthropic goals helps to create scale and impact even in volatile economic conditions.
“We would like to acknowledge the scores of legators, trust settlors, and trustees who chose to designate and protect capital for the benefit of our communities in a great variety of ways. The charitable trusts we manage represent the heart’s intentions of their founders, and we remain proud of our responsibility for these important assets.”
Perpetual Guardian Group CEO Patrick Gamble says the 2025 report captures some of the effects of the emergence of a new wave of donors. “As baby boomers pass on their assets to Gen X, Millennials, and Gen Z, we are seeing the rise of a cohort that is deeply purpose-driven, socially conscious, and focused on values as much as capital. These philanthropists are asking different questions of us as their advisers. They want to know how their investments can reflect their beliefs and values, and asking what legacy really means in an environmentally conscious, digitally connected, and culturally diverse world.
“This year’s Engaged Philanthropy Report examines these wider trends in structured giving and their implications. It captures the momentum we are seeing among our clients, in partnership with fellow funders, nationally and globally, the communities they support, and the innovations they are starting to pioneer. It also highlights the tools and partnerships we believe will be essential to sustain and grow impact for decades to come.”
Perpetual Guardian is the largest manager of philanthropic services in New Zealand, with $893 million in philanthropic funds and $1.049 billion in philanthropic assets under management. It manages 700 charitable trusts and receives 2,000+ applications for philanthropic grants annually. One third of trusts are discretionary (allowing for grant applications), and two thirds are fixed, with named beneficiaries.
The 2025 Perpetual Guardian Engaged Philanthropy Report is available here.
