Everyone’s philanthropic journey is different. How we help, and who we support, will often be determined by our own experience, the people we love and the impact we hope to create.

As a philanthropic advisor, one of the most common questions I hear is: How can we use our philanthropy to truly make a difference? How do we give better, support the not-for-profit sector effectively, and create a meaningful legacy within our families?

The truth is, there’s no one-size-fits-all approach. The most impactful philanthropy is deeply personal. It’s about understanding what change you want to see in the world and aligning your giving to reflect that vision. For some, it’s as simple as supporting causes that resonate with their values. For others, philanthropy is an intergenerational connection that brings families closer and has a lasting impact.

Passing values down to a new generation

Australia is undergoing an unprecedented $2.6 trillion intergenerational wealth transfer. But beyond financial assets, another kind of transfer is taking place—the passing down of philanthropic values. More families are embracing structured giving as a way to deepen relationships and create a lasting legacy.

For some, philanthropy begins around the dinner table, where conversations about generosity and social causes spark engagement across generations. Others take a more structured approach, establishing foundations or sub-funds to involve family members over time. These structures allow donors to see the impact of their giving during their lifetime while ensuring their legacy continues for generations to come.

The Power of Giving in Your Lifetime

Traditionally, many people made their largest philanthropic contributions through their wills. But more donors are realizing the power of giving in their lifetime—taking an active role in their philanthropy, ensuring alignment with their values, and building strong relationships with their chosen causes.

By giving during their lifetime, donors gain firsthand insight into the effectiveness of their philanthropic investments. They can adapt their approach, engage with the charities they support, and witness the change they are helping to create. It also allows them to involve children and grandchildren in decisions about who they support through giving.

Structured giving vehicles, such as private ancillary funds (PAFs) or sub-funds in public ancillary funds (PuAFs), provide a way to ensure long-term philanthropic impact. These structures can be named as beneficiaries in a will, ensuring that a donor’s legacy continues well beyond their lifetime while allowing them to actively participate in their giving today.

Giving Directly vs. Giving Through a Structure

Another key decision for philanthropists is whether to give directly to charities or establish a structured giving vehicle. Each approach has benefits depending on the donor’s goals, level of engagement, and desired impact.

Direct Giving:

• Simple and immediate impact.
• Suitable for one-off or short-term gifts.
• Requires less administrative oversight.

Structured Giving (e.g., PAFs, PuAFs):

• Consider a long-term, sustainable giving plan.
• Allows capital to be invested for future giving.
• Enables strategic, multi-year funding commitments.
• Provides avenues for tax efficiencies and other governance structures.

For donors looking to make a sustained impact, structured giving can provide the flexibility and longevity needed to support causes over time, while still allowing for direct giving where appropriate.

Trust-Based Philanthropy: A New Approach to Impact

Trust-based philanthropy is for many, an emerging approach that seeks to rebalance power between funders and the not-for-profit sector by focusing on relationships, long-term support, and reducing unnecessary burdens on grant recipients. At its core, it means shifting away from transactional funding to partnerships that enable charitable organisations to do their best work.

Ways to practice trust-based philanthropy include:

• Multi-year, unrestricted funding: Providing long-term, flexible support that allows charities to plan ahead and respond effectively to challenges.
• Reducing administrative burdens: Simplifying grant applications and reporting requirements to free up time for organisations to focus on their mission.
• Listening and learning: Engaging with charities as equal partners, valuing their insights, and involving them in decision-making.
• Providing additional non-financial support: Offering mentorship, capacity-building resources, and connections to networks that can help organisations thrive.

For some funders, this approach has become standard practice and is deeply ingrained in their giving strategy.

The Power of Long-Term Funding

A foundation that we work with, the Tim Fairfax Family Foundation (TFFF) has been a leader in shifting the philanthropic landscape by championing multi-year funding. Last year, the Foundation announced three separate, 9-year general operating support grants to three of Queensland’s most important cultural organisations.

Multi-year funding is what organisations need to plan with confidence, to strategize how best to realize their vision, and to build meaningful relationships in their communities. A deep partnership like this is catalytic—an excellent example of trust-based investment in a charity and often the evolution of a partnership built on several shorter-term grants.

This approach goes beyond mere donations; it creates true partners who are deeply committed to a sector or region, allowing charities to realize their long-term vision. It can also set a precedent that other funders follow, ultimately changing the way philanthropy is practiced across sectors. Multi-year funding provides charities with the stability to plan for the future, invest in capacity-building, and maximize their impact. It’s a practice that forward-thinking philanthropists should consider as a way to move beyond transactional giving toward long-term transformation.

Giving with a Gender Lens

An increasing number of philanthropists are recognizing the power of giving with a gender lens—an approach that considers how gender dynamics impact social issues and funding decisions. Research shows that investing in women and girls leads to broader economic and social benefits, yet historically, only a small proportion of philanthropic dollars have been directed specifically toward gender equity initiatives¹. Organisations like Australians Investing in Women, led by Julie Reilly OAM, are at the forefront of this movement, advocating for greater awareness and intentionality in funding decisions. Whether supporting programs that empower women economically, fund female-led organisations, or address gender-based violence, incorporating a gender lens ensures philanthropy is more inclusive and effective in addressing systemic inequalities.

Shaping Systems Change: A Bold Vision for Impact

Some philanthropists move beyond supporting individual charities to driving systemic change—addressing root causes and shifting societal structures. Systems change philanthropy requires a bold, visionary goal and a willingness to fund efforts that transform policies, cultural attitudes, and institutional frameworks.

Lisa Cox OAM is one such philanthropist. As a disability advocate and social inclusion champion, Lisa has firsthand experience of the barriers that need to shift in society. Through her Accessible Impact Fund, she is committed to challenging outdated perceptions of disability and pushing for meaningful cultural change. Knowing that collaboration is key to achieving her vision, Lisa chose to establish a sub-fund within the Elston Giving Foundation—allowing her to not only direct her own giving but also to invite others to contribute to this important movement.

Beyond the Dollars: Becoming a Better Philanthropic Partner

For those who have been giving for some time, the next question often becomes: How can we be better partners to the charities we support? Effective philanthropy isn’t just about writing a cheque. Many donors find deeper fulfillment when they leverage their full range of resources—whether that’s lending their expertise, joining a board, or using their influence to elevate a cause.

Some philanthropists take an even bigger step, focusing on capacity building—helping not-for-profits become stronger, more sustainable organisations. The old adage rings true: Give someone a fish, and they eat for a day. Teach them to fish, and they eat for a lifetime. Investing in a charity’s ability to fundraise, develop leadership, and innovate creates lasting change beyond the duration of a single donation.

Your Philanthropic Journey Starts Here

Philanthropy isn’t about following a set formula. It’s about finding what matters most to you and shaping your giving around the change you want to see. Whether it’s supporting grassroots charities, investing in capacity-building initiatives, or creating a family legacy that spans generations, your journey is unique.

At Elston Philanthropic Services, we help donors navigate this journey—unraveling their personal vision for giving, structuring their philanthropy for long-term impact, and ensuring their generosity creates the legacy they desire.

Whatever your mission, and whatever change you seek to create in the world, we’re here to help.

References

1. World Bank. (2012). World Development Report 2012: Gender Equality and Development. Washington, DC: World Bank. https://openknowledge.worldbank.org/handle/10986/4391

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If you’d like to find out more about Philanthropy, please contact our Philanthropic Services Team here or call 07 3211 9555.