Although disparate and undervalued in Australia, the potential for in-memory giving is huge says Kate Jenkinson.In-memory giving refers to any type of charitable support commemorating the life of someone special. In the UK, it is a vital component of charitable income. Legacy Foresight, which tracks, researches and promotes understanding of the British market – estimates its current value at £2.2 billion (AU$3.94 billion), excluding gifts in wills.
The rise of in-memory giving in the UK
With its incredible power to draw people together with a shared, positive focus, remembrance is recognised as an important motivation for all UK charities, underpinning support of every type. Gifts made at funerals, one-off, regular and tribute fund donations are all counted, as are purchases of commemorative items like plaques and benches, and participation in events. Volunteering, advocacy, even gifts in kind, can be alternative ways of paying tribute. In all, we estimate that up to 30% of fundraised income (excluding bequest income) is motivated by an in-memory connection.
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