Charities in Scotland are raising more than £90 million a year from gifts in wills, a new report has revealed.
Remember A Charity, Legacy Foresight, the Institute of Legacy Management and Smee & Ford have partnered to publish a study on legacy giving in Scotland.
The new report, Building back stronger with charitable legacies, explores the role of legacies for Scottish charities in the current environment, featuring new market data and commentary from experts in the field.
It reveals that legacy income to Scottish charities has been growing at an average of 7% per year, exceeding the 4.6% average growth rate for charities in England and Wales. A vibrant legacy market, around 500 Scottish charities benefit from gifts in wills each year and almost two thirds of those are smaller charities and community-based organisations (64%).
Although it is estimated that just 50 registered Scottish charities generate the lion’s share (70%) of legacy income, the market is broadening. From 2013 to 2018, there was an 18% increase in the number of Scottish charities named in wills.
Each week, 47 people in Scotland leave a gift to charity in their will. However, consumer polling indicates that there is far greater growth potential, with 42% of people in Scotland aged 40+ saying they would be happy to give in this way.
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