Animal Charities Top Dog In Recent Legacies Giving Survey
According to a survey of over 10,000 people aged over 50, conducted by Fastmap, animal charities were more likely to benefit from a legacy gift than anyone else.
Many people that embrace philanthropy and charity giving as they enter the later stages of their lives understand that the benefits can be multifaceted. Firstly, and practically, the donation and gift will be discounted from any inheritance tax liability and when at least 10% of an estate is promised, IHT rates reduce to 36% rather than 40%.
Secondly, the feeling of giving back to a cause close to your heart is priceless. It turns out that majority of people have found that animals, rather than people, have captured and pulled at the heart strings of the majority.
In 2017, the UK gave a combined total of £10.6 billion to charity, only 8% of which went to animal charities, with a further 5% going to conservation and the environment which could benefit our wild animal population.
In 2017, Cats Protection received £31 million in charitable donations and Battersea Dogs and Cat home enjoying only £14.7 million.
However, the tide may be turning in favour of our furry populace as the charity, Cats Protection topped the leader board of the 50 charities that could have been chosen in the survey.
Battersea Dogs and Cats Trust came in second place followed by the RSPCA. Despite the research suggesting that the majority of charitable money went to medical research in 2017, the first charity that would benefit humans was Cancer Research in a humbling fifth place.
Overall, the top ten consisted of four animal charities and only one children’s charity. The Royal British Legion made the list, highlighting the UK’s continued appreciation of the armed forces. The Alzheimer’s Society was also close to man respondents, demonstrating the increasing impact it is having on families.
Stephanie Moss, legacy manager at the Charities Aid Foundation (CAF), said: “When you consider that the UK is a nation of animal lovers — with millions of pets and animal welfare charities such as the RSPCA and the Battersea Dogs & Cats Home among our most well-known charities — it’s not a huge surprise that many people want to leave a gift to these organisations.”
Matt Vincent, a manager at Cats Protection, said: “Legacies fund almost half of everything we do. One out of every two cats we help is thanks to people remembering our work in their wills”.
Every dog has his day and according to this survey, they may start to benefit from increased legacies in the future.
Have you seen an increase in the popularity of animal charities in 2018? Are more people offering a legacy gift?