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Insights from Philanthropy Australia's 2024 Study Tour

In November Rosemary Vilgan (VFFF Chair) and Claire Mannion (VFFF Foundation Manager) travelled to London with 18 philanthropic peers to attend Philanthropy Australia’s (PA) 2024 Study Tour where they met with global leaders in philanthropy and impact investing.

Rosemary and Claire found it to be an amazing learning experience made special by wonderful people. The key themes they observed are:

1. Big change drivers across the economy have led the social sector into a “Poly crises” leading to the gap between demand and supply for philanthropic dollars significantly increasing. The group heard about the UK experience of covid, Austerity, George Floyd, Grenfell fires, ten years of living in a cost-of-living crises. Foundation histories also had a spotlight shone upon them, scrutinising how a Foundation's origin of wealth story (white privilege, slavery and colonialism) influences their approach to giving.

Claire Mannion and Rosemary Vilgan in London

Group of philanthropic peers at the PA UK Study Tour

2. The importance of a Foundation acting consistently through their use of language, ease of access, investment practices

3. Practicing effective philanthropy and building trust-based partnerships through a continuous learning mindset

4. Foundations are committing a similar size of their investment portfolios towards impact investment (eg 5%). Blended finance was a key theme in the impact investing conversations (using a combination of specific grants plus investment) and underwriting with unclaimed public monies was an interesting concept that left the group wondering how this would work in Australia.

5. Young people stole the show. Innovations included training young people for granting professions, well integrated advisory panels and alumni networks, and shifting power through participatory grant making.

We recommend reading Rachel Findlay’s, PA Director Impact and Engagement, insightful account of the trip here.