Fiduciary service provider Equity Trustees gave out grants worth over $122 million in FY23, more than 32 per cent higher than the previous financial year.
The breakdown includes a one-off bequest of $30 million to the Art Gallery of South Australia, $90.6 million of charitable trusts, $1 million worth of grants from community (or Native Title) trusts, and $10.4 million comprising bequests, estates, and other trusts.
An additional $20 million from Australian Executor Trustees (AET) amplified the total amount, which translates into more than 5,000 individual grants.
Equity Trustees noted that their charitable giving has mostly returned to how it was before the COVID-19 pandemic. For example, donations to the Equity Trustees Charitable Foundation (ECF) have increased by 85 per cent in the last two years.
In the last six years, Equity Trustees has managed and distributed over $600 million in grants and bequests to various community, purpose-driven, and charitable organisations across the country.