The Wheel Welcomes New Philanthropy Policy and Urges Continued Government Investment in Sector

The Department of Rural and Community Development today (13 December 2023) launched the National Philanthropy Policy 2024-2028, recognising the role of philanthropy in civic society.  

Welcoming the announcement, Ivan Cooper, CEO of The Wheel said, “The Wheel has worked with the Department of Rural and Community Development on this important policy and therefore welcomes its publication. Philanthropy should be seen as an investment in the public good. Any increase in philanthropic giving should be seen as complimentary to continued and increased Government financial support for the community, voluntary, and charity sector, which has not recovered from cuts to funding following the crash in 2008.”  

Philanthropy is not a new concept in Ireland, and there have been many notable large-scale philanthropists who have shaped the social landscape in the recent past. This new policy provides a framework to increase philanthropic investment through greater awareness, capacity building, Government partnership, and financial incentives. 

Data published this month by the Central Statistics Office indicates that Irish households saved more than €4 billion between July and September 2023, meanwhile seasonally adjusted consumption expenditure reached more than €30 billion over the same period. Meanwhile, the Central Bank of Ireland’s Quarterly Financial Accounts, published in November 2023, showed an increase in household net wealth of €6 billion in Q2 2023 to reach €1,070 billion. 

“There is a concentration of wealth in Ireland that could be put to good use to support much-needed services, advance social causes, and encourage innovation in the nonprofit sector,” said Ivan Cooper. “The new strategy supports this, and we look forward to continuing to work with government, particularly on behalf of organisations in receipt of philanthropic income, to ensure their interests and priorities are fully understood and incorporated in the roll-out of the new policy.”  

Read the National Philanthropy Policy 2024-2028