For the first time in its history, the non-profit sector in the Kingdom has exceeded the 100 billion riyals threshold in economic contribution, equal to 3.3% of the GDP, according to the King Khalid Foundation's report "Prospects of the Non-Profit Sector 2025."
The endowments contributed 48 billion riyals according to the General Authority for Endowments, while non-profit organizations spent 47 billion riyals according to the General Authority for Statistics, and volunteering added an economic value equivalent to 5 billion riyals according to research estimates. Cooperative societies contributed 2 billion riyals according to data from the Ministry of Human Resources and Social Development.
The report also anticipates the continued growth of the non-profit sector, aiming to achieve the target of Saudi Vision 2030 two years ahead of schedule by reaching 5% of the GDP.
The report highlighted that education and research organizations led revenue generation in the non-profit sector with over 19 billion riyals, while health organizations topped spending at 15 billion riyals, thanks to the conversion of a number of government assets in the health and education sectors to non-profit entities, while cultural and entertainment organizations and social service organizations led in employment rates.
The report analyzed revenue sources, particularly generous government support and digital donation platforms, which achieved their best performance in 2024 by reaching over 15 billion riyals in donations, led by the Ihsan platform for charitable work, where the largest contributions came from small donors (like 1 riyal, 10 riyals, and 100 riyals), while contributions from major benefactors (those donating 100,000 riyals or more) accounted for 26% of the donations.
The report recorded that the value of the assets of endowment investment funds reached over 1.7 billion riyals by the end of 2024, as these emerging funds prepare to shape the future of financial sustainability in the sector upon reaching 100 billion riyals in assets with the continued growth momentum by 2040.
At the community level, the report noted citizens' positive engagement in non-profit work through volunteering and donating, as 23% of citizens volunteered, while 47% donated in 2024.
This indicates the community's interest in social responsibility practices as a way of life. This is reflected in their trust levels in the non-profit sector, which reached 86% of Saudis today compared to 73% in 2017.
It is noteworthy that the "Prospects of the Non-Profit Sector" report is the first reference report in the Kingdom on the state of the Saudi non-profit sector and its economic and developmental contributions. It highlights, with figures and data, the size, roles, functions, salaries, specialties, and geographical spread of non-profit organizations, volunteering, and giving as one of the most important sectors led by Saudi Vision 2030 to enhance the social contributions of citizens and organizations. It institutionally embodies the deeply rooted Saudi values of giving, connectivity, volunteering, and social solidarity among community members.
The report can be downloaded and browsed through the official website of the King Khalid Foundation www.kkf.org.sa.
Comments (0)
No comments yet. Be the first to comment!