Numbers of Charities Securing Income Up in 2022, Legacy € Down Overall

Numbers of Charities Securing Income Up in 2022, Legacy € Down Overall

These are the main findings from the Legacy Insights research by Campaign Solutions:

·        Verified legacy income of €87,243,969 was identified for 2021 in the previous (2023) report. With additional research, this has increased to €100,615,325.

·        Verified legacy income of €75,763,108 has been identified for 2021. This represents a drop of 24.7% on 2021.

·        It is estimated that, having reviewed the information gaps, the 2021 total legacy income for the Republic of Ireland was over €110 million. For 2022, the figure may be closer to €85m, suggesting a two-year total of €200m.

·        Remarkably, 19 of the 20 organisations with the highest legacy incomes in 2021 saw a drop in 2022. The legacy income of these charities more than halved in 2022 – and accounted for much of the overall drop.

·        The number of charities identified with legacy income increased from 400 in 2021 to 417 in 2022.

·        Reflecting the variability of the market, 121 charities that secured no legacy income in 2021, received a combined €11.15m in 2022, while 115 organisations increased their legacy income in 2022. 236, or 57%, of the 417 organisations identified therefore increased their legacy income.

·        2021 appears to have been a standout year. Future research will confirm or challenge this assumption.

·        More charitable entities are now securing legacies. The 2022 data included charities that secured their first every charitable bequest(s).  

·        Overall, the number of charities actually getting bequests is still low.

·        Sectors that receive minimal legacy income include Arts and culture; Environment; LGBTQ+; Sports clubs and their representative bodies and Philanthropic foundations (with occasional notable exceptions).

·        The top 10 charities received over 37% of all recorded legacy income in 2021, and 34% in 2021. 

·        The highest annual income for any one organisation recorded was €9.6 million (in 2021).

·        Reflecting the reduced overall legacy income, 18 organisations secured €1m+ in legacy income in 2022, down from 23 in 2021.

·        Verified legacy income now totals over €500 million for the years 2015 - 2022.

Longitudinal data is key to better understanding the Irish ‘legacy market’. Legacy income can fall or rise for any number of reasons – property values, numbers of people leaving bequests, economic changes, speed of administration by solicitors and the Probate offices and more. It is not clear as yet why 2022 saw such a significant drop. Was 2021 an exceptional year or was 2022 a poor year? Perhaps the answer lies somewhere in between.

The full report and other research is available at https://campaignsolutions.ie/legacy-library-ireland/

Just to add, there will be a free Zoom session on Wednesday 20th March to look in more detail at the report also. Please DM me for more info.

To view or add a comment, sign in

More articles by Niall O'Sullivan

  • Scolarship Opportunities

    Scolarship Opportunities

    Nice to see the ad in a Sunday paper re the proposed awarding of scholarships to suitable candidates to pursue a full…

Insights from the community

Others also viewed

Explore topics