BENDIGO based charitable trusts gave hundreds of thousands of dollars to local causes last year, from academic scholarshipsto community grants.
Equity Trustees has reported that $96.2 million in grants and bequests were made through it all around Australia last year, as the nation battled pandemic conditions.
At least three Bendigo based trusts were included in its annual giving review, all within the category of having distributed between $100,000 and $999,999 in 2021.
Equity Trustees chairwoman Carol Schwartz said complexity and uncertainty had dogged the social services sector due to COVID-19 challenges.
"In 2021 we were able to uplift our giving, distributing $96.2 million in total funds to our philanthropic partners," she said.
"It reflected a 5.7% increase on the $91 million distributed in 2020 despite the impact of volatile investment markets."
The Bendigo Tertiary Education Anniversary Foundation was among local trusts included in the report.
Its chairwoman, Dr Penny Davies, said the organisation gave more than scholarships.
"We fund awards, bursaries, scholarships, research, infrastructure and equipment," she said.
"We began with a small number of donations in 1998 and have really grown a lot since then. I am very proud of the foundation's success and I feel that the local community has shown that it recognises the value of higher education."
Equity Trustees has predicted there will be a bright future for trusts and charitable giving in the next few years.
"Australia is on the precipice of the largest inter-generational wealth transfer in history," it stated in its giving review.
"An estimated $2.6 trillion (is) to be transferred from baby boomers to younger Australians between 2021 and 2040. Some of this is likely to find its way into family philanthropy."
Equity Trustees estimates $1.1 trillion will be transferred in the coming decade alone.
"Families need to think about their philanthropy now,'' it stated
"Every year, we see our next generation step up to the responsibilities of their family's philanthropy in different ways, such as honouring the legacy of those that have gone before them and ensuring positive social impact is achieved."
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