Charitable Bequests Surge: Nearly €500 Million Gifted to Dutch Charities in 2024
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Nearly half a billion euros will be donated to recognized charities through inheritances in 2024, marking a significant increase in philanthropic giving and a growing trend of individuals supporting causes they believe in through their estate planning. This represents a more than 40% rise compared to figures recorded just five years ago, signaling a significant shift in how charitable organizations receive funding.
The Rising tide of Legacy giving
Supporting a good cause with an inheritance is becoming increasingly popular, with health, international aid, human rights, and welfare organizations receiving the largest share of these donations. Last year, legacies accounted for 30% of all private donations received by charities holding the CBF quality mark – a rigorous standard signifying transparency and accountability within the Dutch charitable sector.
The KWF cancer fund consistently tops the list of beneficiaries, followed by organizations focused on international aid and humanitarian relief.
Advertising
Charities are employing a variety of strategies to encourage legacy giving. Long-term relationships with donors are proving invaluable, but targeted advertising also plays a crucial role. The Concertgebouw Fund, heavily reliant on donations, utilizes impactful campaigns to highlight the possibility of leaving a gift in a will. “The stunning building, the grate orchestra, that costs an unbelievable amount of money,” explained the director of the concertgebouw, noting that inheritances range “from a thousand euros to an entire house.”
According to Professor of inheritance law Bernard Schols, charities are increasingly appearing in wills, particularly from childless couples and wealthy individuals. Many notaries now provide lists of eligible charities to assist with the process. “I see rich parents who want their children to have to struggle a little in life,” Schols observed, highlighting a complex motivation behind some charitable bequests.
However, this trend isn’t without its challenges. A growing number of lawsuits regarding inheritances are emerging, as beneficiaries contest the allocation of funds to charities. “It is sometimes an unpleasant surprise for surviving relatives that everything goes to a charity and they are only entitled to their child’s share or legitimate portion,” Schols explained, emphasizing that the deceased’s will is legally binding. Charities are becoming more mindful of the “human dimension,” often ensuring that items of sentimental value are directed to family members.
Future Projections and Top Beneficiaries
Looking ahead, the trend of legacy giving is expected to continue its upward trajectory. Research from the report Giving in the Netherlands 2024 indicates that 54% of individuals over 55 have drafted a will, with 8% including charitable provisions. Projections estimate that annual donations through legacies could reach at least €2.1 billion by 2048, perhaps soaring to €6.7 billion in the moast optimistic scenario.
Here are the top 10 charities benefiting from inheritances in 2024:
- KWF Kankerbestrijding – €79,842,000
- Doctors Without Borders – €22,052,000
- Leger of Salvation – €21,700,000
- Heart Foundation – €19,656,857
- Animal protection – €19,470,000
- Red Cross – €16,484,000
- liliane Fund – €15,886,574
- Natural monuments – €14,867,000
- the Cultural Fund – €13,127,255
- UNICEF Netherlands – €11,883,000
(Source: CBF, charity regulator)
As more individuals embrace legacy giving, charities are poised to receive an increasingly significant portion of their funding through this impactful avenue, reshaping the landscape of philanthropic support in the Netherlands.
