Trust And Foundations Market 2021 Global Industry Analysis, Opportunities, Size, Trends, Growth and Forecast 2030
Research Reports
Jan 11, 2021
Trust And Foundations Market:
WiseGuyReports.com adds “Global Trust And Foundations Market Research Report 2021 Analysis and Forecast 2030” reports to its database.
Executive Summary
The global trusts and foundations market is expected to grow from $161.9 billion in 2019 to $163.1 billion in 2020 at a compound annual growth rate (CAGR) of 0.73%. The slow growth rate is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $197 billion in 2023 at a CAGR of 6.5%.
The trust and foundations market consists of sales of trust and foundations services by entities (organizations, sole traders and partnerships) that operate grant-making foundations or charitable trusts. Only goods and services traded between entities or sold to end consumers are included.
North America was the largest region in the trusts and foundations market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
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The issue related to NGOs acting as a cover for illegal activities is expected to limit the growth of the trust and foundations market. The involvement of trust and foundations in illegal activities creates a negative image in society leading to the loss of confidence. For instance, in August 2020, it has been reported by New Vision that more than 200 refugee NGOs were operating illegally in Uganda. It was reported that these refugee settlements are operating without valid permits and valid memorandum of understandings (MOUs). When the verification was done, it was found that only 69 partners were fully authorized to implement requests response activities and around 208 were illegal. Therefore, this kind of event causes trust issues, which restrict the growth of the trust and foundations market.
The trust and foundations market covered in this report is segmented by type into grantmaking non-profit; public foundation; corporate foundation; company-sponsored foundation; grantmaking public charities; independent foundations; community foundation; private family foundation; arts foundation; operating foundations. It is also segmented by type of donors into small scale donor; mid scale donor; major donors and by frequency of donation into recurring donors; lapsed donors; new donors.
Funds are collected from generous individuals and also some companies as part of their Corporate Social Responsibility (CSR) activity. Help Age India, an Indian non-profit organization, helps senior citizens who do not have any support with such funds. The organization advocates for their necessities such as quality medical services, action against elder abuse, and many other activities at a public, state and cultural level with Central and State governments. In 2018, Help Age India conducted the largest healthcare program across India. It provided cataract surgeries to the elderly.
There is an increase in NGOs catering to climate change activism as this is a widespread issue affecting several people and communities. Young people around the world are majorly elevating their voices on the issue if environmental change. From Greta’s movement, ‘Fridays for Future’ to the Madrid Climate Change Conference, all are focused on directing the attention towards climate change. For instance, the United Nations carries out its efforts to protect the environment with the help of the UN Environment Programme (UNEP) and the World Meteorological Organization (WMO). Another organization working in the direction of climate change is the Green Climate Fund that helps by providing financial assistance to the projects directed towards protecting the environment.
An increase in charity by people to several foundations is driving the market of trust and foundations. People are coming forward to help others in difficult times by providing with any kind of assistance that can ease the life of the needy. According to the statistics provided by the National Philanthropic Trust (NPT), approximately 90% of high net worth households give charity. NPT statistics show that Americans gave $449.64 billion to charity in 2019, which is a 5.1% increase from 2018. Around 69% of total giving came from individuals and around 17% from foundations. Therefore, an increase in charity by individuals, family, and personal foundations helps in driving the growth trust and foundation market.
Major players in the trust and foundations market are United Way Worldwide, Feeding America, Task Force for Global Health, Salvation Army, American National Red Cross, St. Jude Children’s Research Hospital, Americares Foundation, Food for the Poor, United States Fund for UNICEF and MAP International.
Continuous…
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