Keep Calm and Carry On: Philanthropy After Brexit
On June 23, the people of the United Kingdom voted to leave the European Union. The decision to leave—commonly known as “Brexit”—has dominated headlines, rattled financial markets, and triggered political uncertainty in the United Kingdom and throughout the world. Although the United Kingdom has not yet formally initiated the two-year process to leave the European Union, political, financial, and legal experts are actively working to determine Brexit’s short- and long-term implications.
Market-moving events like Brexit can have an impact on the world of philanthropy in a number of ways. For starters, the current market instability may negatively impact charitable giving and endowment returns. More broadly, international grant makers and charities which work around the world may find their operations affected by a wide range of changes with respect to, among other things, visa and employment requirements, privacy and data security concerns, government grants, relationships with international affiliates, and fluctuating credit markets.
As the United Kingdom and Europe wrestle with Brexit, we will continue to monitor its effects on the philanthropic sector and report on matters relevant to philanthropy on this blog. If you have specific questions you would like us to address, please email us at [email protected].