Social Development Month promotes support of struggling communities

In the wake of the Covid-19 pandemic which saw many non profit organisations close their doors and left millions unemployed, help is now needed more than ever.

As the country marks Social Development Month in October, community members are urged to support charities and organisations that uplift communities and families in need.

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A 2019 report by Nedbank, the Giving Report IV, surveyed the giving practices of high-net-worth individuals (HNWI) in South Africa in 2018.

The report showed that although fewer HNWI were giving back to communities, those willing to donate before are giving even more now – more in terms of value in time.

They were also more invested in terms of whether their giving achieved its purpose and if there were other ways to become involved in the lives of the receivers.

In addition, the report recorded that these HNWI were more thoughtful about where their money would make the most impact.

One-third of the givers had a planned budget and strategy for giving, and larger givers had a formalised approach.

The biggest supported causes were social and community development, along with religious institutions and non-profits remaining the most supported type of beneficiary.

‘Our non-profit organisations (NPOs) fulfil an important and invaluable role in our society, so it is vital for donors to work even more closely with each other to coordinate their efforts and compound the positive impact of their giving,’ said Iolanda Ruggiero, Managing Executive: Nedbank Wealth.

The report highlighted five main reasons why these HNWI chose to give:
1. They held religious beliefs
2. They cared about the cause
3. They wanted to make a difference
4.They were motivated by a family tradition of giving
5.They wanted to give something back to the community