767 non-profit foundations promote the common good with almost 100 million euros annually – current figures and portraits of donors in the new VgS foundation report.
Vienna (OTS) – On the occasion of its tenth anniversary, the Association for Non-Profit Foundations (VgS) published the Foundation Report 2024. This provides a current insight into the effectiveness and development of the non-profit foundation sector in Austria. 767 foundations will work for Austria’s common good in 2024. This means that the number of foundations has grown by almost 120 over the past decade. Trend analyzes from Germany and Switzerland, according to which the number of foundations committed to education, research and social issues is increasing, are also confirmed in Austria: In addition to social concerns, education and research, followed by art and culture, are the most popular in Austria Topics from non-profit donors. According to a detailed analysis of 122 foundations, 32% support social purposes, 25% education, 19% research and 17% support art and culture. Foundations still have some catching up to do when it comes to the issue of the environment, to which only 7% are currently dedicating their commitment.
New start-up boom expected among non-profit foundations
„Ten new foundations were founded in 2023 – slightly fewer than in previous years. However, this is not due to a declining interest in foundations, but rather to the fact that many people interested in philanthropy waited for the tax and legal framework conditions to improve significantly from 2024
“, explains Günther Lutschinger, managing director of the VgS. For this year, the interest group for non-profit foundations, founded in 2014, expects significantly more new foundations, a stronger inflow of capital and higher distributions for charitable projects. „Based on the Nonprofit Reform Act, which has created strong incentives for philanthropists, we expect a new foundation boom in Austria in the coming years
“emphasizes Lutschinger and explains: „We see that foundations provide more innovative support than the public sector and are prepared to invest in social developments. At the same time, foundations obviously cannot and do not want to replace public financing of education and research projects.
“ On this point, the VgS sees a clear distribution of tasks between the central responsibility of state authorities and the additional innovative power of a strong civil society.
About the foundation report
On 44 pages, the Foundation Report 2024 summarizes current figures and data as well as exciting best practice examples from different areas of impact in the sector. In addition to an insight into the motives of foundation founders, it also provides an overview of the important milestones in the Austrian foundation system over the past ten years.
The foundation report can be obtained from the VgS at office@meinnuetzig-stiften.at can be ordered or downloaded free of charge from the association’s website: https://www.gemeinnuetzig-stiften.at/
Questions & Contact:
Dr. Günther Lutschinger, Managing Director of the Association for Non-Profit Foundations, T: +43 676 4410108, E: guenther.lutschinger@gemeinnuetzig-stiften.at