Higher Education tops Coutts list for £1m-plus donations

The latest Coutts Million Pound Donors report shows the total value of charitable donations worth £1m or more in the UK rose by 9% to £1.35bn in 2012, its highest level since the financial crisis in 2008/09. Arts, culture and humanities received 20 gifts of £1m-plus totaling £95.4m, less than the 2010/11 total of £109m, while higher education received one in four of all large donations with 47 gifts totaling £570m, making this the most popular cause for the first time. Although 89% of charities received just one major donation, the two organisations that received four gifts each and the three that received three gifts each were all higher education institutions. Foundations, which have been the most popular cause in all previous years, were the second most popular cause for £1m-plus donations, receiving 20% of the total value of gifts.

According to the study, 22% of the £1m-plus donations were made by individuals, accounting for 32% of the total value. Foundations, which are now listed to include both personal and professional foundations, were responsible for 71% of the donations. The average donation in 2012 was £6.9m was significantly higher than the all-time low average of £5.3m in 2010/11, although the 2012 figure is skewed by some very large donations. A total of 156 organisations were recipients of £1m-plus donations in 2012 fewer than the 191 recipients in 2010/11, but in line with the trend for previous years. Nearly two-thirds of donations came from people or organisations based in London and the largest number of £1m-plus gifts went to charities located in London (38%), followed by charities outside of the UK (18%), and in the South East (9%).