Why is cross-border giving so important?
People need to have the choice and flexibility to give to the good causes they care about, wherever that is in the world; a single marketplace and entirely level playing field for philanthropy. While there is no reason people can’t support charities across domestic borders, it’s not always easy to do so. Certainly not if people want to be able to access the same tax advantages that they can in their home nation. And yet, cross-border giving has really taken off in recent years.
Although it is impossible to estimate the full scale of the cross-border giving market, we can see that it a fast-growing movement within the global philanthropic environment. Appetite for our services has increased significantly, as well as giving to foundations, legacy donations and gifts of property.
With new payment technologies, crowdfunding and new transaction structures to support cross-border philanthropy (both at an individual and foundation level), we are seeing a real increase in people that choose to give beyond their national boundaries. It has been particularly popular with expats who want to donate to causes in their home country, the alumni community and many more. Still, there is far greater potential yet to be achieved.