Legacy Growth in Ireland

by: Niall O'Sullivan, Campaign Solutions

New Research from Campaign Solutions has highlighted a growth in legacy income in 2023, after a disappointing fall in 2022. The market overall – which includes fundraising charities, religious bodies and other charities was up 5% to over €82 million as per the chart below.

While overall legacy income in 2023 was up 5%, looking more closely at ‘fundraising charities’, using the subset of My Legacy members may provide a more accurate gauge as to how 2023 was for these charities. They recorded a 17% increase in 2023.

More detailed information on bequests is now also available from the Legacy Insights research consortium. This a group of 27 charities that have provided detail on individual bequests from 2018 – 2023 inclusive. Almost 4,00 bequests have been reviewed. The average legacy value has been over €25,000 in each of the last three years, but peaked in 2020 at €33k when a small number of very large bequests helped increased overall income and the average values. Looking more closely at legacy values in 2023 we also see that:

• Pecuniary (cash bequests) values dropped slightly to €10,203, but

• Residuary (percentages of net estate) bequests averaged €55,042 in 2023, up almost €3k on 2022. The highest of any given year was €70,826 in 2020.

• Compared to typical major gift values to charities bequests compare very favourably.

Residuary bequests accounted for just over a 1/4 by number of bequests but almost 3/4 of income in 2023 in Ireland. In the UK 93% of legacy income came from residual and ‘other’ bequests in 2023. (Legacy Foresight, Market Model 2023).

The coming decades could see a golden age of legacy giving in Ireland – if we invest and grasp the opportunity now.

Ireland has a far better demographic profile than any other developed country in the world in the context of legacy potential (only New Zealand comes close). Numbers of people passing will almost double by 2057 as per CSO Projections.

Already at least €8 billion - €10 billion is being processed annually by the probate offices There a huge transfer of assets between the generations taking place and this is also set to grow substantially.

Campaign Solutions believe this is as crucial period for Irish charities and foundations to invest in legacy - to maximise the opportunity that exists.

Legacy spend in Ireland exceeded €1million in 2023, perhaps the first year this milestone was achieved. 5 charities invested six figure sums - well ahead of most others. Many charities (moreso outside of the Legacy Insights partners) spend little or nothing on Legacy.

Based on preliminary data, 2024 will see a significant increase in legacy income. 2025 also looks positive, in part buoyed by the generosity of a small number of wealthier individuals.

While the full report is only available to consortium members, a public version is available at https://campaignsolutions.ie/wp-content/uploads/2025/09/2018-23-Legacy-Insights-Public-Consortium-Report-2025-Summary.docx.pdf.