Philanthropists expect too much too quickly, report says

This is a problem.

Wealthy philanthropists are ambitious and want to see changes in government policies soon after they have made a donation, but their efforts are still too fragmented and often fail to have a great impact, a new study has found.

Entitled Alleviating Global Poverty: Catalysts of Change, the research by Forbes Insights was based on a survey of more than 300 wealthy individuals, with investible assets of at least $1 million.

It found that 73 per cent of respondents said they want to affect international and national government policies in a short time.

Interestingly, while 48 per cent admitted there were too many overlapping charities working in the same sector, only 20 per cent said they partner with experts in the field to realise their philanthropic goals.

‘There are two crushing weaknesses with the philanthropic model today,’ said Harvard Business School professor Michael Porter in the report. ‘There is not enough money to give away. And there is too much fragmentation and not enough large-scale impact. That is why we haven’t gotten a lot of great results yet.’

The study also found that philanthropists from different regions of the world disagreed on the main causes of poverty. North and South Americans, in fact, pointed to the lack of access to education, while Europeans focused on the lack of access to healthcare and respondents from Asia-Pacific emphasised on the scarcity of food and shelter.

According to the report, local causes were a priority among philanthropists, with a third of respondents saying only 10 per cent of their donations go on global causes. This was because they felt a need to give back to their own community and because they understood the local context better, but also because they thought local giving often makes an immediate difference.

This is similar to what Simon Thurley, the CEO of English Heritage, has been recently campaigning for in the UK, as he told Spear's. He called for the country’s wealthy to financially support many of the national historic buildings that will not receive any government funding for repairs and enhancement works, as part of the austerity measures.

However, the wealthiest respondents had a strong focus on global giving, which normally requires more resources. Forty per cent of those with a net worth of at least $50 million said they focused on such issues. Think of Bill Gates, who set up the Bill and Melinda Gates Foundation to eradicate malaria and polio worldwide.

Children’s education was the respondents’ preferred cause, chosen by 38 per cent, followed by children’s health (37 per cent), nutrition and food supply (33 per cent) and pre-school education (31 per cent). However, a third of philanthropists said family planning and contraception should be the top priority in the next five years, while 31 per cent chose the sustainable management of resources such as water and land.

When they have to choose what programmes to fund on, 45 per cent said they looked at the idea or at the premise of the initiative, while 23 per cent said they paid particular attention to the organisation behind the project. Interestingly, only 32 per cent cited the leader in charge of the programme as the most important factor – the report suggested that this was because wealthy individuals often have the ability to influence the choice of leader.

As for the future, nearly one in five philanthropists plans to give away more than half of their wealth. Thirty-one per cent of those with more than $10m in assets and 46 per cent of those with more than $50m plan to do so. They will join the likes of billionaires such as Gates, Warren Buffett, Richard Branson, Michael Bloomberg and Azim Premji, who signed up for the Giving Pledge initiative, committing at least half of their wealth to charity organisation after their death.

Read more from Giulia Cambieri

This piece first appeared on Spear's Magazine

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This is a story from the team at Spears magazine.

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In her first interview of 2017, I pressed the Prime Minister for Brexit clarity

My week, including running out of cat food, reading Madeleine Thien – oh, and interviewing Theresa May on my show.

As the countdown to going live begins in your ear, there’s always a little rush of adrenalin. Especially when you’re about to launch a new Sunday morning political programme. And especially when you’re about to conduct the Prime Minister’s first interview of 2017. When you hear the words, “Cue Sophy,” there’s a split-second intake of breath – a fleeting moment of anticipation – before you start speaking. Once the show is under way, there’s no time to step back and think; you’re focused on what’s happening right now. But for that brief flicker of time before the camera trained on you goes live, you feel the enormity of what’s happening. 

My new show, Sophy Ridge on Sunday, launched on Sky News this month. After five years as a political correspondent for the channel, I have made the leap into presenting. Having the opportunity to present my own political programme is the stuff that dreams are made of. It’s a bit like having your own train set – you can influence what stories you should be following and which people you should be talking to. As with everything in television, however, it’s all about the team, and with Toby Sculthorp, Tom Larkin and Matthew Lavender, I’m lucky enough to have a great one.

 

Mayday, mayday

The show gets off to a fantastic start with an opportunity to interview the Prime Minister. With Theresa May, there are no loose comments – she is a cautious premier who weighs up every word. She doesn’t have the breezy public school confidence of David Cameron and, unlike other politicians I’ve met, you don’t get the sense that she is looking over her shoulder to see if there is someone more important that she should be talking to.

In the interview, she spells out her vision for a “shared society” and talks about her desire to end the stigma around mental health. Despite repeated pressing, she refuses to confirm whether the UK will leave the single market as it leaves the European Union. However, when you consider her commitment to regaining control of immigration and UK borders, it’s very difficult – almost impossible – to see how Britain could remain a member. “Often people talk in terms as if somehow we are leaving the EU but we still want to kind of keep bits of membership of the EU,” she said. “We are leaving. We are coming out. We are not going to be a member of the EU any longer.” Draw your own conclusions.

 

Women on top

This is probably the kind of thing that I should remain demurely quiet about and allow other people to point out on my behalf. Well, screw that. I think it’s fantastic to see the second female prime minister deciding to give her first interview of the New Year to the first woman to front a Sunday morning political show on television. There, I said it.

 

Escaping the bubble

In my view, every journalist should make a New Year’s resolution to get out of London more. The powerful forces that led to the political earthquake of 2016 came from outside the M25. Every week, I’ll be travelling to a different part of the country to listen to people’s concerns so that I can directly put them to the politicians that I interview. This week, it was Boston in Lincolnshire, where the highest proportion of people voted to leave the European Union.

Initially, it was tricky to get people to speak on camera, but in a particularly friendly pub the Bostonians were suddenly much more forthcoming. Remain supporters (a minority, I know) who arrogantly dismiss Leave voters as a bunch of racists should listen to the concerns I heard about a race to the bottom in terms of workers’ rights. Politicians are often blamed for spending too much time in the “Westminster bubble”, but in my experience journalists are often even worse. Unless we escape the London echo chamber, we’ll have no chance of understanding what happened in 2016 – and what the consequences will be in 2017.

 

A room of one’s own

Last December, I signed a book deal to write the story of women in politics. It’s something I’m passionate about, but I’ll admit that when I pitched the idea to Hachette I had no idea that 2016 would turn out to be quite so busy. Fitting in interviews with leading female politicians and finding the time to write the damn thing hasn’t been easy. Panic-stricken after working flat out during the EU campaign and the historic weeks after, I booked myself into a cottage in Hythe, a lovely little market town on the Kent coast. Holed up for two weeks on my own, feeling a million miles away from the tumultuous Westminster, the words (finally) started pouring on to the page. Right now, I’m enjoying that blissful period between sending in the edited draft and waiting for the first proofs to arrive. It’s nice not to have that nagging guilty feeling that there’s something I ought to be doing . . .

 

It’s all over Mao

I read books to switch off and am no literary snob – I have a particular weakness for trashy crime fiction. This week, I’ve been reading a book that I’m not embarrassed to recommend. Do Not Say We Have Nothing, by the Canadian author Madeleine Thien, tells the haunting story of musicians who suffered during the Cultural Revolution in China. It’s also a chilling warning of what happens when anger towards the elite is pushed too far.

 

Political animals

However busy and exhilarating things are at work, my cat, Ned, will always give me a reality check. In the excitement of the first Sophy Ridge on Sunday, I forgot to get him any food. His disappointed look as he sits by his empty bowl brings me crashing back down to earth. A panicked dash to Sainsbury’s follows, the fuel warning light on all the way as I pray I don’t run out of petrol. Suddenly, everything is back to normal.

“Sophy Ridge on Sunday” is on Sky News on Sundays at 10am

Sophy Ridge is a political correspondent for Sky News.

This article first appeared in the 12 January 2017 issue of the New Statesman, Putin's revenge