A plan to disrupt philanthropy, $5 at a time

When it comes to charitable giving, I think most Australians would be surprised to learn: 

- The number of people donating to charity has been steadily declining for over a decade.

- Compared to countries like the UK, the US, Canada, and New Zealand, we give significantly less. 

Why are we seeing these trends?

Many point to cost of living, but that’s only part of the story. The data shows we're still spending on various other non-essentials - overseas holidays, online shopping, dining out. So, why has giving taken a backseat?

I recently spoke with The Hon Dr Andrew Leigh MP, the Assistant Minister for Charities, and his insight struck a chord: “It’s because our sense of community is declining,” he said. 

We’re not gathering like we used to - less organised sport, less churchgoing, fewer local events. As our connections fray, so too does our collective sense of responsibility. If this trend continues, it won’t just be charities that suffer; our communities will weaken further too. 

In June, I set out to understand what else might be holding us back. I surveyed 159 Australians aged 23 to 36. Nearly two-thirds cited financial constraints and competing priorities as barriers. Distrust, cynicism, and compassion fatigue were also significant factors, followed by decision paralysis and procrastination.

Yet, despite these challenges, there was hope: four out of five respondents said they can and want to give more. 

This is where Five Bucks comes in. We exist to make giving accessible, impactful, and hopeful. By lowering financial barriers and fostering a trusted community, Five Bucks has the potential to disrupt how Australians think about philanthropy.

The concept is simple: members contribute $5 a week to a fund held securely by the Australian Communities Foundation. Over 12 months, the funds grow and on an annual basis, we grant out to organisations working across climate, education, and living standards. These areas have been chosen due to their interconnectedness - improvements in one often trigger improvements in the others, creating powerful positive feedback loops.

By September 30, Five Bucks is aiming to grow the community to 500 members, and aims to have raised at least $100,000 by June 2025. Over the longer term, our goal is to get a million Aussies on board and raise $260 million a year. 

That sort of money can make a huge difference to a whole range of charitable enterprises. But this is not just about money - we want to redefine philanthropy for the future. 

Five Bucks believes in the power of low-value, high-volume collective giving - driven by everyday people. Because when we come together, even small contributions can lead to massive change.

Brianna Kerr was a Westpac Future Leaders Scholar in 2020.