MEPs and key stakeholders will gather at the European Parliament tomorrow to debate how to release philanthropy’s potential for public good across Europe.

The debate, entitled ‘Single Market for Philanthropy ‒ Helping unlock the potential for public good across Europe’, will be hosted by European Parliament Vice-President Nicola Beer and co-organised by the Philanthropy Advocacy initiative and the Renew Europe Group of the European Parliament. The event takes place on the European Day of Foundations and Donors, a day when foundations and national associations of donors across Europe raise public awareness about philanthropy.

More than 147,000 foundations in Europe provide €60 billion annually to organisations and projects across Europe. In a recent study, SwissFoundations and PWC found that foundations’ contribution to society amounts to more than the tax benefits they receive, and this within the first year of the creation of a foundation.

‘We want to start a new conversation about what philanthropy can contribute to the European Union’s welfare,’ says Nicola Beer. ‘There is so much untapped potential when it comes to foundations and civil society organisations – let us unlock it all together.’

The debate will focus on how philanthropy can support European values and how the sector can partner with key stakeholders to tackle rising inequality, provide space for innovation, help overcome social and political divisions, and connect with people and their real needs. Laurent Thieule of Project FC Kraainem in Belgium, and Stefania Coni of Fondazione CRT based in Italy, will present case studies to illustrate the diversity and important complementary role of philanthropy, and how it acts as a tool for citizens to contribute to the public good in Europe.