A "guide to giving" drawn up by the Philanthropy Ireland organisation was launched yesterday by the Tánaiste and Minister for Finance, Brian Cowen.

With the number of millionaires in the State said to have tripled since 2000 to more than 30,000, the organisation is hoping that the "underdeveloped" nature of "planned giving" in the State can be changed.

The chief executive of Philanthropy Ireland, Jackie Harrison, said that, with more than 300 people having a net worth in excess of €30 million, there was clearly potential for increased philanthropic giving.

Ms Harrison said private donations amount to only 15 per cent of all income in the "not for profit" sector, and it is believed that only 12 per cent of the population give in a planned way.

It is estimated that the level of philanthropic giving here is only half that in the UK, and substantially less than in the US.

The guide provides basic information about philanthropic giving as part of Philanthrophy Ireland's goal of fostering a robust philanthropic sector in Ireland. As well as basic information the guide also includes basic legal and tax advice.

At the launch of the guide, Mr Cowen said philanthropic culture was in its infancy here for the obvious reason that Ireland did not have a culture of much financial wealth in the past.

"Some people have approached me about this issue, not on their own behalf, and have asked, given the levels of wealth that have been established, if there a philanthropic mechanism we can devise that will ensure that people who have created much wealth will have a view as to what is the responsible inheritance to leave to their children," he said.