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		<title>Singapore&#8217;s Biggest Philanthropic Organisations 2025</title>
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		<pubDate>Tue, 25 Nov 2025 07:55:08 +0000</pubDate>
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					<description><![CDATA[Overview Singapore’s philanthropic landscape has grown in visibility, scale and sophistication over the past decade, shaped by the country’s position as a global wealth hub and a trusted base for international and regional giving. In recent years, however, the ecosystem has expanded significantly, driven by the influx of family offices, increasing interest from wealth holders &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/singapores-biggest-philanthropic-organisations-2025/"> <span class="screen-reader-text">Singapore&#8217;s Biggest Philanthropic Organisations 2025</span> Read More &#187;</a></p>]]></description>
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<p><strong>Overview</strong></p>



<p>Singapore’s philanthropic landscape has grown in visibility, scale and sophistication over the past decade, shaped by the country’s position as a global wealth hub and a trusted base for international and regional giving. In recent years, however, the ecosystem has expanded significantly, driven by the influx of family offices, increasing interest from wealth holders in purpose-driven contributions, and the emergence of new institutions that support more structured, strategic and collaborative forms of giving. This maturing environment provides the backdrop for this year’s edition of Singapore’s Biggest Philanthropic Organisations, which highlights the breadth of philanthropic activity taking place today.</p>



<p>A key development is the rapid growth of philanthropic intermediaries, especially donor-advised funds (DAFs) and advisory platforms. As highlighted in the case study on donor-advised funds, early providers such as the Community Foundation of Singapore and UBS Optimus Foundation Singapore have long offered structured avenues for giving, while newer entrants like Asia Community Foundation and Temasek Trust Foundation Advisors reflect rising demand for regional as well as local giving. These intermediaries reduce administrative burdens, provide due diligence and governance support, enable cross-border donation flows and help donors participate more strategically.</p>



<p>Complementing them are networks and platforms such as Philanthropy Asia Alliance, ImpactCollab and Co-Axis, which broaden access by convening funders and facilitating collaborative or regional opportunities. Together, these developments point to growing expectations for professional support in how philanthropic capital is deployed. The decision by the Gates Foundation to establish a regional office in Singapore in 2025 further underscores the nation’s strengthening role as a regional philanthropy hub.</p>



<p>Another significant trend is the rise of evidence-based philanthropy, with more organisations investing in research to understand community needs before shaping their programmes or grantmaking. As highlighted in the FairPrice Foundation case study in this report, the corporate foundation commissioned both the Full Plate study (2024) and the Stay Strong study (2025) to understand nutrition gaps across life stages. Insights from these studies directly informed new initiatives, including a targeted senior nutrition programme developed with Tan Tock Seng Hospital. Similar research-driven approaches are increasingly being adopted by philanthropic organisations across the sector, guiding funding priorities and enabling more strategic and effective programme design.</p>



<p>Taken together, these developments highlight a philanthropic environment that is becoming more connected, intentional and professionally supported. From the rise of donor-advised funds and giving platforms to the growing emphasis on training and evidence-based programme design, Singapore’s ecosystem continues to build the infrastructure, expertise and knowledge needed to support meaningful, long-term social impact.</p>



<p><strong>Singapore’s Biggest Philanthropic Organisations List (2025)</strong></p>



<p>The Singapore’s Biggest Philanthropic Organisations List highlights private philanthropic entities registered in Singapore and ranks them according to the annual grants they disbursed in the most recently available Financial Year (i.e., 2024 or 2025). The grant amounts are derived from mainly publicly accessible information and may include both local and international disbursements.</p>



<p>The 2025 edition identifies 126 organisations, up from 117 the previous year, with total giving amounting to $419 million compared to $431 million previously. Nearly 24.5% of all giving came from the single largest philanthropic organisation. The decline in total giving is largely driven by the outsized influence of last year’s top giver, which alone accounted for around 30% of total contributions through what was an exceptional, one-off disbursement. Because such large special contributions can fluctuate significantly from year to year, the reduction in these extraordinary gifts explains much of the dip observed in this year’s overall giving.</p>



<p>Notably, 42 organisations distributed over S$1 million each, and the top 10 accounted for $316 million in total grants. Among the top ten, five are affiliated to individuals/families, two are affiliated to corporates, two are donor-advised fund sponsors and one is affiliated to a clan. The top giver is DBS Foundation, which committed $102.6 million in 2024 to support 16 new multi-year programmes and 22 Businesses for Impact across Asia, focusing on uplifting vulnerable communities by providing essential needs and fostering financial inclusion. In line with DBS Foundation’s 10 anniversary in 2024, DBS committed up to SGD 1 billion over the next 10 years to deepen support for its efforts moving forward. This contributed to the significant rise in its grant commitment in 2024 compared to previous years.</p>



<p>The second biggest giver is The Ngee Ann Kongsi, a Teochew philanthropic organisation that disbursed S$40.6 million in 2024 to educational, cultural and charitable causes. Notably in 2024, it pledged a multi-year gift of S$12.5 million to NTU Singapore to advance Traditional Chinese Medicine (TCM) education and build a local pipeline of TCM professionals who can serve the needs of the population.</p>



<p>The third biggest giver is Lee Foundation, a family foundation, which disbursed S$33.2 million in 2024 to a wide range of charities and causes. It is also, by a very large margin, the biggest foundation in Singapore in terms of its total asset size, holding S$13.6 billion.</p>



<p>The fourth biggest giver is The Community Foundation of Singapore, the pioneer DAF sponsor in Singapore, which disbursed $28.4 million in grants to various local charities.</p>



<p>The fifth biggest giver is Lien Foundation, a family foundation, which disbursed $24.4 million to charities working in areas including palliative care, eldercare and senior’s mental wellbeing.</p>



<p>The next five largest philanthropic organisations each disbursed between S$11.5 million and S$23.2 million. Low Tuck Kwong Foundation, a family foundation and last year’s top giver, disbursed S$23.2 million. The Moh Family Foundation, also a family foundation, disbursed S$22.4 million. UBS Optimus Foundation Singapore, a donor-advised fund for UBS private clients, disbursed S$17.1 million. FairPrice Foundation, a corporate foundation, disbursed S$12.7 million to support its key focus areas, which include community welfare, access to daily essentials and nutrition, and workers’ well-being. The Elaine and Eduardo Saverin Foundation, a family foundation, disbursed S$11.5 million. Previously unranked, it entered the top ten this year as it commenced its philanthropic activities.</p>



<figure class="wp-block-image size-full"><a href="https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025.png"><img fetchpriority="high" decoding="async" width="820" height="912" src="https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025.png" alt="" class="wp-image-4921" srcset="https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025.png 820w, https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025-270x300.png 270w, https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025-135x150.png 135w, https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025-768x854.png 768w, https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025-11x12.png 11w, https://charityguidepoint.sg/wp-content/uploads/2025/11/top-10-2025-600x667.png 600w" sizes="(max-width: 820px) 100vw, 820px" /></a></figure>



<p><strong>Data Collection and Methodology</strong></p>



<p>This is the fourth edition of the report, with earlier versions published in 2024, 2022 and 2021. It examines private philanthropic organisations registered with the Inland Revenue Authority of Singapore (IRAS) and/or the Commissioner of Charities (COC).</p>



<p>Organisations excluded from consideration include those deriving most of their income from public donations, as well as philanthropic organisations that are politically affiliated, faith-based, or government-related. Faith-based and politically affiliated grantmakers are excluded because many do not publicly disclose their grantmaking amounts or activities, and some restrict grants to recipients of the same faith. Similarly, funds and trust entities established for specific charities, such as school funds designated exclusively for their beneficiaries, are not considered. Organisations that have suspended their activities or are in the midst of deregistration are also excluded. To maintain a focus on private philanthropy, government-affiliated grantmakers are not included.</p>



<p>Data was compiled mainly from publicly accessible sources, including annual reports, the Charity Portal, and official organisational websites, between September and November 2025. Figures are standardised to Singapore dollars, and the ranking is based on the most recent annual grant disbursements between Financial Year 2024 to 2025. The majority of the data come from Financial Year 2024. Organisations with data earlier than 2023 as well as those with no publicly available grant data are unranked.</p>



<p><strong>Limitations</strong></p>



<p>This report relies on publicly available data. Some philanthropic organisations in Singapore may not be registered as charities with the Commissioner of Charities (COC) or listed as grantmakers with the Inland Revenue Authority of Singapore (IRAS). These may include family offices that allocate a portion of their resources to grantmaking, or philanthropic funds established by donors and managed by private banks in Singapore. Due to the lack of publicly available information, such entities are not included in the list.</p>



<p>Grant amounts were primarily obtained from financial statements or annual reports. In cases where data lacked clarity or detail, reasonable assumptions were made to estimate the grant amounts disbursed. For a limited number of organisations, only grant commitments were available publicly, and these were used as proxies for disbursements.</p>



<p><strong>Looking Ahead</strong></p>



<p>The 2025 edition of Singapore’s Biggest Philanthropic Organisations sits within a broader context of a philanthropy sector that is steadily maturing, supported by a growing range of philanthropic intermediaries. While annual giving levels may fluctuate, the overall direction points toward more intentional, professional and evidence-informed approaches to philanthropy. Foundations are increasingly grounding their work in research, commissioning studies and engaging communities to better understand needs before designing programmes as illustrated in the case<br>studies featured in this report. This shift from transactional giving to insight-led, long-term support marks an important step in strengthening the effectiveness and impact of philanthropic action in Singapore.</p>



<p>As the ecosystem continues to evolve, the organisations highlighted in this year’s list and the intermediaries supporting them will play a key role in shaping a more collaborative, resilient and impactful philanthropy landscape in Singapore in the years ahead.</p>



<p><strong>Case Study 1: Advancing Evidence-Based Giving: How FairPrice Foundation Uses Research to Drive Strategic Impact</strong></p>



<p>As Singapore navigates rapid demographic, social, and economic shifts, the needs of Singaporeans are also evolving. One notable change is the nation’s move towards super-aged status, with at least one in five of its citizens projected to be 65 or older by 2026. This is reshaping the types of support needed by vulnerable groups.</p>



<p>FairPrice Group (FPG), through its philanthropic arm FairPrice Foundation (FPF), has responded by redesigning its social impact strategy to strengthen communities by focusing on nutrition and access to daily essentials. This aligns with FPG’s broader mission: to make every day a little better for all Singaporeans while keeping essentials affordable and within reach.</p>



<p>Guided by its Start Strong, Stay Strong framework, FPF adopts a data-driven, upstream approach to bridge nutrition gaps across life stages. Its research has highlighted critical opportunities for intervention. The Full Plate study (2024) revealed that while 83% of Singaporeans understand the importance of a balanced meal, fewer than one in four can describe one and 70% of young families worry about children’s eating habits. The Stay Strong study (2025) found that seniors prioritise taste in their diet, while cost remains the key barrier to nutritious eating among lower-income<br>households.</p>



<p>In response, FPF is taking a holistic approach to nutrition and well-being. For seniors, it has partnered with Tan Tock Seng Hospital to develop Stay Strong, a gamified nutrition education initiative launching next year, while exploring nutritional solutions through FPG’s Own Brands and Food Solutions business. For young children, the Start Strong Stay Strong programme, delivered with NTUC My First Skool, engages pre-schoolers with interactive nutrition and sustainability education, laying the foundation for lifelong healthy habits.</p>



<p>FPF also addresses broader community needs through A Full Plate, Singapore’s largest food donation drive, supporting over 600,000 lower-income households, alongside programmes such as Neighbourhood Food Share and Protein Pledge that provide targeted nutrition access across the heartlands. Beyond nutrition, FPG and FPF invest in carbon-literacy and sustainability education, engaging 28,000 visitors annually through The Carbon Gallery, Asia’s first carbon-focused experiential hub.</p>



<p>Today, FPF reaches over 1.2 million beneficiaries yearly, supporting charities and community partners through targeted and strategic support. By making nutritious groceries, nutrition education and sustainability learning more accessible, FPF continues to build a healthier, more resilient Singapore, one initiative at a time.</p>



<p><strong>Case Study 2: Enabling Accessible, Strategic Giving: The Growing Role of Donor-Advised Funds in Singapore</strong><br>Donor-advised funds have become an increasingly important part of Singapore’s philanthropic landscape, offering a cost-effective and flexible alternative for donors who may not wish to establish their own foundations. In recent years, the rise of DAFs has expanded the options available to individuals, families and family offices seeking structured and professionally supported ways to give.</p>



<p>The Community Foundation of Singapore (CFS) has long anchored the local DAF ecosystem, enabling donors to establish named funds with strong governance, due diligence and grantmaking support. Its deep networks in Singapore’s non-profit sector make it a preferred platform for donors focused on local community needs. Alongside CFS, UBS also has an established donor-advised fund in Singapore to facilitate structured giving for UBS private clients.</p>



<p>More recently, the landscape has broadened with the emergence of the Asia Community Foundation (ACF) and Temasek Trust Foundation Advisors (TTFA). ACF specialises in cross-border giving across Asia, reflecting rising donor interest in regional issues. TTFA offers philanthropy advisory services and curated giving pathways supported by access to partners and platforms through its extensive network across Asia and the Temasek Trust ecosystem.<br>Together, these DAF providers make philanthropy more accessible by reducing administrative burdens, offering professional expertise and enabling both local and regional giving. Their rise reflects a broader shift in Singapore towards strategic, well-governed and cost-efficient philanthropy supported by intermediaries that simplify the giving journey while amplifying impact.</p>



<p><strong>Acknowledgement</strong><br>While the majority of information in this project was obtained from publicly available sources, there were a select few foundations we reached out to for additional details. We would like to express our appreciation to those who kindly responded and supported the accuracy of this work. Our thanks also go to FairPrice Foundation for their valued collaboration on the case study presented in this report.</p>



<p><em>The full list of 126 grantmakers with information on their annual grants, total assets, cause areas as</em><br><em>well as contact details is available for purchase at S$90. Please click&nbsp;<a href="https://soristic.asia/product/singapores-biggest-philanthropic-organisations-list-2025/">here</a>&nbsp;for the purchase.</em></p>



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		<title>Singapore&#8217;s Biggest Philanthropic Organisations 2024</title>
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		<pubDate>Fri, 06 Dec 2024 06:24:32 +0000</pubDate>
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					<description><![CDATA[Overview Singapore is positioning itself as a leading philanthropic hub in the region through a combination of government initiatives and private sector contributions to build a thriving ecosystem for philanthropy.   There are attractive tax incentives, including a 250% tax deduction for donations to Institutions of a Public Character. In addition, there are various donation &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/singapores-biggest-philanthropic-organisations-2024/"> <span class="screen-reader-text">Singapore&#8217;s Biggest Philanthropic Organisations 2024</span> Read More &#187;</a></p>]]></description>
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.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}</style>				<p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 13.999999999999998pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Overview</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Singapore is positioning itself as a leading philanthropic hub in the region through a combination of government initiatives and private sector contributions to build a thriving ecosystem for philanthropy.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="background-color: var(--ast-global-color-5); color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-style: inherit; font-weight: inherit;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">There are attractive tax incentives, including a 250% tax deduction for donations to Institutions of a Public Character. In addition, there are various donation matching programmes such as SHARE, Cultural Matching Fund, Enhanced Fund-Raising Programme, and endowment matching grants for tertiary institutions. These programmes amplify the impact of private and corporate donations by matching contributions at specified ratios, encouraging support for key causes.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The government also supports organisations that enable and strengthen the philanthropic ecosystem, such as the National Volunteer and Philanthropy Centre, the Wealth Management Institute, and the Community Foundation of Singapore. These entities facilitate connections between donors and meaningful causes, provide specialised training, enhance the ecosystem&#8217;s capacity to promote philanthropy, and offer advisory services.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">To address donors’ interest in supporting international causes, the government has also introduced various schemes to attract donors to tap on Singapore as a hub for overseas giving. In 2023, the Philanthropy Tax Incentive Scheme was announced to allow single family offices to receive 100% tax deduction for overseas donations. This encourages international ultra-high net worth families to use Singapore as a base for their regional and international giving. Starting in 2025, the Overseas Humanitarian Assistance Tax Deduction Scheme will pilot a 100% tax deduction for individual and corporate donations to overseas humanitarian relief efforts, further positioning Singapore as a hub for regional and global philanthropy.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">In the private sector, a few philanthropists have banded together to set up Asia Philanthropy Circle, a platform for Asia-based philanthropists to learn, exchange, and collaborate on philanthropic projects. Some philanthropists have also underwritten the administrative costs of philanthropic intermediaries such as The Majurity Trust and Asia Community Foundation to encourage more giving.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Other notable philanthropic initiatives in Singapore include the Philanthropy Asia Alliance by Temasek Trust, which promotes public-private-philanthropic partnerships to develop new  strategies. Similarly, AVPN unites diverse social funders to advance various philanthropic initiatives.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="background-color: transparent; color: #000000; font-family: 'Trebuchet MS', sans-serif; font-size: 12pt; white-space-collapse: preserve; font-style: inherit; font-weight: inherit;">This strategic blend of financial incentives, professional expertise, and institutional support positions Singapore as a vibrant philanthropic hub, attracting local, regional, and international donors as well as related stakeholders. The efforts probably contributed in part to the observed increase in philanthropic organisations and a surge in total giving in the third edition of Singapore’s Biggest Philanthropic Organisations list.</span></p>						</div>
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							<p dir="ltr" style="line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 14pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">Singapore’s Biggest Philanthropic Organisations List</span></p><p dir="ltr" style="line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="color: #000000; font-family: Trebuchet MS, sans-serif;"><span style="font-size: 16px; white-space-collapse: preserve;">Singapore’s Biggest Philanthropic Organisations List identifies private philanthropic organisations registered in Singapore and ranks them by their annual grants disbursed in the latest financial year. The grants disbursed are based on publicly available data and can include grants given locally as well as internationally.</span></span></p><p dir="ltr" style="line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="background-color: transparent; color: #000000; font-family: 'Trebuchet MS', sans-serif; font-size: 12pt; white-space-collapse: preserve; font-style: inherit; font-weight: inherit;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">The 2024 edition identifies 117 organisations, up from 101 in the previous edition, with total giving reaching S$431 million—an impressive 96% increase from S$220 million in the prior 2022 edition. Nearly 30% of the total giving is coming from the top giver. Excluding this top giver, total giving this year would have also exceeded the previous total by about 38%.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">Notably, 40 organisations distributed over S$1 million each, and the top 10 accounted for S$338 million in total grants. The top ten givers include three new entrants, one of which is entirely new to the list. Among these top ten givers, five are affiliated to individuals/families, two are affiliated to corporates, two are donor-advised fund sponsors and one is affiliated to a clan.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">The top giver is Low Tuck Kwong Foundation that disbursed S$127.6 million in 2023 to educational and healthcare causes. Established in December 2022, this foundation bears the name of Low Tuck Kwong, a philanthropist and businessman who built his wealth in the natural resources sector. According to its website, the foundation focuses on uplifting communities, empowering lives, and transforming futures across Southeast Asia. Notably, in 2023, it donated S$101.0 million to the Lee Kuan Yew School of Public Policy at the National University of Singapore, aiming to expand opportunities for the next generation of Asian leaders in public service and beyond. Other recipients of its support include hospitals in Singapore and the region.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">The second biggest giver is Lee Foundation that disbursed S$41.7 million in 2023 to a diverse list of charities and causes. The Lee Foundation was established in 1952 by Dr Lee Kong Chian, a prominent banker cum businessman who left part of his estate to the foundation in his passing. Among the philanthropic organisations tracked, Lee Foundation is also by far the largest foundation by total asset size in Singapore with S$10.6 billion.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">The third biggest giver is The Ngee Ann Kongsi, a Teochew philanthropic organisation that gave S$36.2 million in 2023 to educational, cultural, and charitable causes. The fourth biggest giver is SymAsia Foundation, a donor-advised fund (DAF) sponsor affiliated with Credit Suisse that gave out S$28.0 million in 2023. With the acquisition of Credit Suisse by UBS, it has been reported that the donor advised funds affiliated with Credit Suisse and UBS would merge.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">The fifth biggest giver is The Moh Family Foundation, a family foundation recently incorporated in 2021. This foundation is established by the family of the late furniture tycoon, Laurence Moh and supports key causes including education, health, community well-being and social welfare internationally. Its disbursement of S$23.6 million in 2023 went mainly to health (75.1%), community wellbeing (14.2%) and social welfare (8.7%).</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">The next five biggest philanthropic organisations disbursed total grants between S$10.5 million to S$22.2 million in the financial year 2023 or 2024. The Community Foundation of Singapore, the pioneer DAF sponsor in Singapore, focused primarily on charities in Singapore disbursed S$22.2 million in grants to various charities. Lien Foundation, a family foundation, disbursed S$20.0 million. Singapore Business Federation Foundation, a foundation of the business community, disbursed S$16.8 million to champion the social, vocational and educational upliftment of disadvantaged Singaporeans. Finally, Tanoto Foundation, a family foundation, and NTUC FairPrice Foundation, a corporate foundation, disbursed S$11.2 million and S$10.5 million respectively in 2023.</span></p>						</div>
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							<p><span style="background-color: transparent; color: #000000; font-family: 'Trebuchet MS', sans-serif; font-size: 14pt; font-weight: bold; white-space-collapse: preserve; font-style: inherit;">Examples of Schemes Targeting Philanthropy in Singapore</span></p><ul style="margin-bottom: 0px; padding-inline-start: 48px;"><li dir="ltr" style="list-style-type: disc; font-size: 13pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; white-space: pre; padding-left: 1pt;" aria-level="1"><p dir="ltr" style="line-height: 1.38; margin-top: 0pt; margin-bottom: 8pt;" role="presentation"><span style="font-size: 13pt; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap-mode: wrap;">Philanthropy Tax Incentive Scheme</span></p></li></ul><p dir="ltr" style="line-height: 1.38; margin-left: 36pt; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">This scheme is targeted towards single family offices and allows them to receive 100% tax deduction for a period of five years starting from 2024, capped at 40% of donor&#8217;s statutory income, for overseas donations made through qualifying local intermediaries. The scheme is meant to encourage single family offices to use Singapore as a base when they give overseas.</span></p><ul style="margin-bottom: 0px; padding-inline-start: 48px;"><li dir="ltr" style="list-style-type: disc; font-size: 13pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; white-space: pre; padding-left: 1pt;" aria-level="1"><p dir="ltr" style="line-height: 1.38; margin-top: 0pt; margin-bottom: 8pt;" role="presentation"><span style="font-size: 13pt; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap-mode: wrap;">Overseas Humanitarian Assistance Tax Deduction Scheme</span></p></li></ul><p dir="ltr" style="line-height: 1.38; margin-left: 36pt; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">From January 2025 to December 2028, individual and corporate donors can claim a 100% tax deduction for overseas cash donations made through designated charities. Eligible donations must address emergency humanitarian needs arising from specific incidents, such as natural disasters or crises, and assistance can include rapid delivery of essentials such as food, clean water, shelter, medical care, and search, rescue, and evacuation efforts.</span></p><ul style="margin-bottom: 0px; padding-inline-start: 48px;"><li dir="ltr" style="list-style-type: disc; font-size: 13pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; white-space: pre; padding-left: 1pt;" aria-level="1"><p dir="ltr" style="line-height: 1.38; margin-top: 0pt; margin-bottom: 8pt;" role="presentation"><span style="font-size: 13pt; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap-mode: wrap;">Enhanced Fundraising Programme</span></p></li></ul><p dir="ltr" style="line-height: 1.38; margin-left: 36pt; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">Since 2006, Tote Board has provided matching support to the fundraising efforts of local charities to encourage community giving. Since 2021, the Singapore Government has also been supporting this matching programme. Currently, the programme provides dollar-for-dollar matching, up to S$250,000 per charity, for eligible fund-raising projects of charities.</span></p><ul style="margin-bottom: 0px; padding-inline-start: 48px;"><li dir="ltr" style="list-style-type: disc; font-size: 13pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; white-space: pre; padding-left: 1pt;" aria-level="1"><p dir="ltr" style="line-height: 1.38; margin-top: 0pt; margin-bottom: 8pt;" role="presentation"><span style="font-size: 13pt; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap-mode: wrap;">Matching Grants for Tertiary Education</span></p></li></ul><p dir="ltr" style="line-height: 1.38; margin-left: 36pt; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">Since 1991, the Singapore Government has provided matching grants for donations to tertiary education institutions. The matching ratio varies based on the institution and type of gift. For instance, newer universities receive up to a 3:1 match for endowed gifts and a 1:1 match for non-endowed contributions.</span></p><div><span style="font-size: 12pt; font-family: 'Trebuchet MS', sans-serif; color: #000000; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> </span></div>						</div>
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							<p dir="ltr" style="line-height: 1.7999999999999998; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 13.999999999999998pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Data Collection &amp; Methodology</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">This is the third edition of the report, with earlier versions published in 2021 and 2022. It examines philanthropic organisations registered with the Inland Revenue Authority of Singapore (IRAS) and/or the Commissioner of Charities (COC).</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Organisations not considered include those primarily funded by public donations or government sources, as well as philanthropic organisations that are politically affiliated, faith-based, or government-related. Faith-based and politically affiliated grantmakers are excluded because many do not publicly disclose their grantmaking amounts or activities, and some restrict grants to recipients of the same faith. Similarly, funds and trust entities established for specific charities, such as school funds designated exclusively for their beneficiaries, are not considered. Organisations that have suspended activities are also excluded. </span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Data was compiled from publicly accessible sources, including annual reports, the Charity Portal, and official organisational websites, between September and November 2024. Figures are standardised to Singapore dollars, and the ranking is based on the most recent annual grant disbursements between financial year 2022 to 2024. Majority of the data come from financial year 2023. Organisations with data earlier than 2022 as well as those with no publicly available grant data are unranked.</span></p><p dir="ltr" style="line-height: 1.7999999999999998; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 13.999999999999998pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Limitations</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">This report relies on publicly available data. Some philanthropic organisations in Singapore may not be registered as charities with the Commissioner of Charities (COC) or listed as grantmakers with the Inland Revenue Authority of Singapore (IRAS). These may include family offices that allocate a portion of their resources to grantmaking or philanthropic funds established by wealthy donors and managed by private banks in Singapore. Due to the lack of publicly available information, such grantmaking is not included in the list.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Grant amounts were primarily obtained from financial statements or annual reports. In cases where data lacked clarity or detail, reasonable assumptions were made to estimate the grant amounts disbursed.</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 13pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Future of Philanthropy in Singapore</span></p><p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;"><span style="font-size: 12pt; font-family: 'Trebuchet MS',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The third edition of Singapore’s Biggest Philanthropic Organisations List highlights the rapid strides in institutional philanthropy, supported by a robust ecosystem of government initiatives, private sector contributions, and a growing network of philanthropic organisations. Amongst the top 10 givers, the three new entrants — Low Tuck Kwong Foundation, The Moh Family Foundation, and Tanoto Foundation — are philanthropic organisations led by principals who amassed their wealth outside of Singapore. Through strategic incentives and innovative partnerships, Singapore is fostering a vibrant local ecosystem while establishing itself as a regional and global leader in philanthropy for the future.</span></p>						</div>
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							<p><em style="font-size: 1rem; font-weight: inherit; font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5); color: rgb(37, 40, 58);"><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; color: rgb(21, 27, 224);">The full list of the 117 philanthropic organisations – including information such as their latest grants disbursed, assets size, causes supported, website and email address – is available for purchase at $80. To purchase the full version, please&nbsp;<a href="https://charityguidepoint.sg/product/philanthropy-list-2024/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://charityguidepoint.sg/product/philanthropy-list-2024/&amp;source=gmail&amp;ust=1733799803697000&amp;usg=AOvVaw0HZUbA_jX5pO_jaB-0SaoV" style="color: rgb(17, 85, 204);">click here</a>. For charities, there is a 15% discount. Please email us at&nbsp;<a href="mailto:connect@soristic.asia" target="_blank" style="color: rgb(17, 85, 204);">connect@soristic.asia</a>&nbsp;</span></em></p>						</div>
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		<title>Singapore&#8217;s Biggest Philanthropic Organisations 2022</title>
		<link>https://charityguidepoint.sg/singapores-biggest-philanthropic-organisations-2022/</link>
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		<dc:creator><![CDATA[Pauline Tan]]></dc:creator>
		<pubDate>Wed, 16 Nov 2022 09:30:04 +0000</pubDate>
				<category><![CDATA[Articles]]></category>
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		<category><![CDATA[Singapore's Biggest Philanthropic Organisations]]></category>
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					<description><![CDATA[Philanthropy in Singapore has been growing steadily. Based on annual reports from the Commissioner of Charities (COC), total donations received by registered charities in Singapore increased from S$1.8 billion in 2009 to S$3.2 billion in 2019, an annualised growth of 6.0% over 10 years. Tax deductible donations grew at an annualised rate of 4.0% in &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/singapores-biggest-philanthropic-organisations-2022/"> <span class="screen-reader-text">Singapore&#8217;s Biggest Philanthropic Organisations 2022</span> Read More &#187;</a></p>]]></description>
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							<div><p>Philanthropy in Singapore has been growing steadily. Based on annual reports from the Commissioner of Charities (COC), total donations received by registered charities in Singapore increased from S$1.8 billion in 2009 to S$3.2 billion in 2019, an annualised growth of 6.0% over 10 years. Tax deductible donations grew at an annualised rate of 4.0% in the same 10-year period from S$0.7 billion in 2009 to S$1.0 billion in 2019. Philanthropists in Singapore are a diverse group of individuals and organisations. They can give directly or through a variety of vehicles including foundations, trusts and donor advised funds. Philanthropic organisations include family and corporate foundations, donor-advised fund sponsors and faith-based funds and foundations. Complementing these philanthropic organisations are government bodies and affiliated organisations that provide the biggest share of funding to charities in Singapore.</p></div><p style="margin: 0cm 0cm 15pt; text-align: justify; line-height: 19.2pt; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"> </p><div><p>In recognition of the diversity of grantmakers, this year&#8217;s list goes beyond the traditional foundations to include other grantmakers. The list is also updated to target private philanthropy (thus excluding government affiliated grantmakers). The list of philanthropic organisations continues to rely on publicly available information and is based mainly on organisations listed in the Charity Portal as well as the Inland Revenue Authority of Singapore’s (IRAS) list of qualifying grantmakers. An increase in data collection efforts have also resulted in greater granularity of data to rank organisations by their latest available annual grant disbursement compared to annual expenditures used in the last year’s ranking.</p><p> </p><div><p>101 philanthropic organisations that gave a total of S$220 million were identified. Among them, 31 philanthropic organisations gave more than S$1 million in grants each during the period under review. They deployed a total of S$204 million in philanthropic funding. The ten biggest philanthropic organisations gave a total of S$163 million in grants. Among the top 10, four are affiliated to corporates, three to families, two are donor-advised fund sponsors and one is a clan affiliated philanthropic organisation. The top giver is The Ngee Ann Kongsi, a Teochew philanthropic organisation, which gave S$37.7 million in 2021 to educational, cultural and other charitable causes. Its grantees include Ngee Ann Polytechnic, LASALLE College of the Arts and the Singapore Institute of Technology. Its incorporation ordinance requires 75% of its annual net income to be set aside for charitable causes, particularly education. The second biggest giver is the Lee Foundation which disbursed S$32.3 million in 2021 to a diverse list of charities and causes. This is followed by the Lien Foundation, which disbursed S$23.3 million in 2021 to tackle the roots of social problems related to eldercare, early childhood development, water and sanitation and palliative care. Dr Lee Kong Chian and Dr George Lien Ying Chow founded the Lee Foundation and the Lien Foundation in 1952 and 1980 respectively. Both were prominent bankers cum businessmen in 20th century Singapore.</p><p> </p></div><div><p>The fourth and fifth organisations on the list are donor-advised fund (DAF) sponsors – SymAsia Foundation and The Community Foundation of Singapore (CFS) which allow donors to set up donor-advised funds. SymAsia Foundation&#8217;s donors gave out S$21.1 million in 2021, of which 58% was to Institutions of Public Character in Singapore (IPC) and 42% to charitable work globally. The Community Foundation of Singapore, the pioneer DAF sponsor in Singapore, focused primarily on charities in Singapore and disbursed S$18.3 million in grants to 254 organisations and individuals in 2022. Charities in the social and welfare sector received the most funding from CFS&#8217; donors at 28.3% of total funding followed by those in the health sector (25.3%) and the education sector (22.5%). The next five biggest philanthropic organisations disbursed total grants between S$3.7 million to S$10.7 million in 2021. Ho Bee Foundation, the philanthropic arm of real estate developer Ho Bee Group, disbursed S$10.7 million to various charitable causes. Singapore Business Federation Foundation, which was set up by the business community, disbursed S$6.3 million to champion the social, vocational and educational upliftment of disadvantaged Singaporeans. The Shaw Foundation, a family foundation set up in 1957 by the Shaw brothers, disbursed S$5.0 million to various charities. Finally, NTUC FairPrice Foundation and CapitaLand Hope Foundation, the corporate philanthropy arms of NTUC FairPrice and CapitaLand disbursed S$4.7 million and S$3.7 million respectively in 2021.</p></div></div><p style="margin: 0cm; text-align: justify; line-height: 19.2pt; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><a name="_ftn1"></a></p>						</div>
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<p><strong>Emergence of Philanthropic Ecosystem Enablers</strong></p>
<div>
<p>The past decade has seen an emergence of philanthropic ecosystem enablers that support philanthropists. These include donor-advised fund (‘DAF’) sponsors that administer multiple charitable funds on behalf of philanthropists that could be organisations, families or individuals. Economies of scale are achieved as philanthropists rely on the DAF professionals to handle regulatory matters; shape philanthropic mandates; identify non-profits in their target cause areas; conduct due diligence; disburse donations as well as subsequent monitoring of the impact of their philanthropic dollar. Examples of DAF sponsors that have emerged in the past decade include the Community Foundation of Singapore, SymAsia Foundation (operated by Credit Suisse) and the UBS Optimus Foundation. CFS is the pioneer in Singapore and primarily serves the community in Singapore. Since its founding in 2008, it has accumulated a deep understanding of local issues and needs and is able to identify gaps and opportunities for more effective giving.</p>
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<div>
<p>For SymAsia Foundation and UBS Optimus Foundation, they have ties to private banks and provide DAF services to the high-net-worth clients of these banks who are looking to give in Singapore and globally. The Majurity Trust is an example of another type of philanthropic ecosystem enabler that has emerged in the past decade. It works with donors including corporate to establish and administer named funds and grants such as The Maybank Momentum Grant. It provides philanthropic advice guided by research and supported by deep understanding of grantees. The board and a small group of donors cover its operating cost to allow 100% of philanthropic dollars to be channelled to grantees. Philanthropic networks such as AVPN and the Asia Philanthropic Circle also play a critical role in the ecosystem by supporting networking as well as enabling learning and collaboration between philanthropists.</p>
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<p><strong>Methodology</strong></p>
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<p>This is the second year that Soristic is publishing this report. The report has been renamed “Singapore’s Biggest Philanthropic Organisations” as it looks beyond the traditional philanthropic foundations that were the focus of the prior year&#8217;s report to cover the diversity of private grantmakers. Philanthropic organisations registered on IRAS’s grantmakers and/or the COC were considered. We excluded organisations that derived most of their income from public donations and philanthropic organisations that were politically affiliated, faith-based and government-related. Faith-based and politically affiliated grantmakers are excluded as many of them neither publicly disclose their grantmaking amount nor grantmaking activities. In addition, some provide grants only to grantees from the same faith. Funds and trust registered entities (such as the various school funds) that are reserved exclusively for the beneficiaries of the charities and not involved in grantmaking to other organisations are also excluded from the list. Government-affiliated grantmakers were excluded as the list focuses on private philanthropy. A total of 101 philanthropic organisations remained. Data on the philanthropic organisations was compiled from publicly available information such as annual reports, Charity Portal and official websites of the philanthropic organisations. The data was collected from March to September 2022 and standardised to Singapore dollars.</p>
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<p><strong>Limitations</strong></p>
<div>
<p>The list of philanthropic organisations is based on publicly available data. There are philanthropic organisations in Singapore that may not be registered as a charity with the COC or a grantmaker with the IRAS Grantmaker List. These can include family offices that allocate a portion to grantmaking as well as philanthropic funds set up by wealthy donors that are operated by private banks in Singapore. Due to the lack of public information on their grantmaking, they are not included in the list. The section below briefly covers the government as well as faith-based affiliated grantmakers that are excluded but play a significant role in financing the social sector in Singapore.</p>
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<p><strong>Government affiliated grantmakers</strong></p>
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<p>Besides philanthropy, charities and social enterprises are supported with funding from government bodies and affiliated organisations such as the National Council of Social Service, Temasek Foundation and Tote Board. Their funding range from subsidising services of eligible beneficiaries and providing grants for operations and capacity building. For many registered charities, government grants is the single largest source of funding. Government grants contributed 40% to 50% of annual income of all charities in the decade between 2009 and 2019. Philanthropic donations represented only between 15% to 20% of annual income while other income, including fees and charges for services, made up the remainder.</p>
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<p><strong>Faith-based Grantmakers</strong></p>
<div>
<p>Religious charities received a significant proportion of all donations in Singapore. Based on available data for the period 2013 and 2019, they received between 38% and 45% of all donations given to charities. Some of these organisations have also become significant grantmakers to other charities. Examples are Kwan Im Thong Hood Cho Temple and Caritas Singapore which gave out S$8.1 million and S$7.0 million in 2021 to various charities respectively. Some of the notable philanthropic activities of Kwan Im Thong Hood Cho Temple over the years include funding the set-up of a Kidney Dialysis Centre at Simei and establishing bursary awards in many institutions of higher education. Caritas Singapore is the social and community arm of the Catholic Church in Singapore that manages and gives out grants to Catholic charities and organisations under its umbrella. These charities and organisations cover a wide range of causes from poverty, people with disabilities and migrant workers.</p>
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<p><strong>Going Forward</strong></p>
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<p>Based on the latest donation data from the COC, donations to charities as a percentage of the Gross Domestic Product (GDP) stood at 0.6% in Singapore in 2019. There is thus room for philanthropy to grow to a more significant percentage of GDP to a level observed in some countries like the United States of America (at 2.1% in 2021). Philanthropy in Singapore is set to thrive with growing wealth in the region, the development of philanthropic ecosystem and the drive by the Singapore Government for Singapore to be a regional hub for philanthropy. The number of philanthropic organisations is poised to increase. There is potential for growing support for social innovations that can address and transform social and environmental issues in Singapore and the region.</p>
<p style="font-size: 15px; font-style: normal; font-weight: 400; margin: 0cm; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: justify; line-height: 19.2pt;"><a href="https://soristic.asia/2021/08/17/biggestphilanthropicfoundations/#_ftnref1"><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #007bff; border: 1pt none windowtext; padding: 0cm; text-decoration-line: none;">[1]</span></a><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;">&nbsp;The Charity Portal (https://www.charities.gov.sg/) gives information on charities in Singapore and is managed by the Commissioner of Charities.</span></p>
<p style="font-size: 15px; font-style: normal; font-weight: 400; margin: 0cm; outline-style: none; outline-width: initial; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: justify; line-height: 19.2pt;"><a style="outline: none; line-height: inherit; cursor: pointer;" name="_ftn2"></a><a href="https://soristic.asia/2021/08/17/biggestphilanthropicfoundations/#_ftnref2"><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #007bff; border: 1pt none windowtext; padding: 0cm; text-decoration-line: none;">[2]</span></a><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;">&nbsp;Most of the foundations registered with the Commissioner of Charities have significant presence in Singapore. Some foundations in Singapore, particularly those focused on overseas grant-making, may not have been registered with Charity Portal and they were excluded from the study.</span></p>
<p style="font-size: 15px; font-style: normal; font-weight: 400; margin: 0cm; outline-style: none; outline-width: initial; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: justify; line-height: 19.2pt;"><a style="outline: none; line-height: inherit; cursor: pointer;" name="_ftn3"></a><a href="https://soristic.asia/2021/08/17/biggestphilanthropicfoundations/#_ftnref3"><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #007bff; border: 1pt none windowtext; padding: 0cm; text-decoration-line: none;">[3]</span></a><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;">&nbsp;Based on the Commission of Charity Annual Report 2019 published in September 2020, total donations in FY 2018 amounted to S$2.9 billion.</span></p>
<p style="font-size: 15px; font-style: normal; font-weight: 400; margin: 0cm; outline-style: none; outline-width: initial; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: justify; line-height: 19.2pt;"><a style="font-style: inherit; font-weight: inherit; font-family: var( --e-global-typography-text-font-family ), Sans-serif;" href="https://soristic.asia/2021/08/17/biggestphilanthropicfoundations/#_ftnref4"><span style="font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #007bff; border: 1pt none windowtext; padding: 0cm; text-decoration-line: none;">[4]</span></a><span style="font-style: inherit; font-weight: inherit; font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;">&nbsp;The Community Foundation of Singapore is a grant-making public charity that facilitates and pools funds from donors to address community needs. It currently manages more than 160 donor advised funds and has given out more than S$114 million in grants since 2008. (The Community Foundation of Singapore, 2021).</span></p>
<p style="font-size: 15px; font-style: normal; font-weight: 400; margin: 0cm; outline-style: none; outline-width: initial; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: justify; line-height: 19.2pt;"><span style="font-style: inherit; font-weight: inherit; font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;">&nbsp;</span></p>
<p style="font-size: 15px; font-style: normal; font-weight: 400; margin: 0cm; outline-style: none; outline-width: initial; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: justify; line-height: 19.2pt;"><span style="font-weight: bold; color: #7a7a7a; text-align: start;">The complimentary pdf version of the report can be accessed by submitting the form below.</span><span style="font-style: inherit; font-weight: inherit; font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;"><br></span></p>
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							<p><em style="background-color: var(--ast-global-color-5); font-size: 1rem; color: #25283a;"><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; color: #151be0;">The full list of the 101 foundations – including information such as their latest annual expenditure, grants disbursed, causes supported, website and email address – is available for purchase at $70. To purchase the full version, please&nbsp;<a href="https://charityguidepoint.sg/product/philanthropy-list-2022/">click here</a>. For charities, there is a 15% discount. Please email us at connect@soristic.asia for the discount code.&nbsp;</span></em></p>						</div>
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		<title>Singapore&#8217;s Biggest Philanthropic Foundations 2021</title>
		<link>https://charityguidepoint.sg/singapore-biggest-philanthropic-foundation/</link>
		
		<dc:creator><![CDATA[insight]]></dc:creator>
		<pubDate>Sat, 26 Feb 2022 00:39:43 +0000</pubDate>
				<category><![CDATA[Publication]]></category>
		<category><![CDATA[Research]]></category>
		<guid isPermaLink="false">https://charityguidepoint.sg/?p=827</guid>

					<description><![CDATA[Philanthropists in Singapore have been supporting causes through private donations for decades. These donations have been made through multiple channels including personal accounts, family offices, trusts and/or foundations. In particular, the wealthiest individuals and corporates establish foundations – legal entities through which they can channel giving to their preferred causes. In this complimentary version of &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/singapore-biggest-philanthropic-foundation/"> <span class="screen-reader-text">Singapore&#8217;s Biggest Philanthropic Foundations 2021</span> Read More &#187;</a></p>]]></description>
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							<p><span style="color: #25283a; font-family: 'Open Sans', sans-serif;">Philanthropists in Singapore have been supporting causes through private donations for decades. These donations have been made through multiple channels including personal accounts, family offices, trusts and/or foundations. In particular, the wealthiest individuals and corporates establish foundations – legal entities through which they can channel giving to their preferred causes.&nbsp;</span></p>
<p><font color="#25283a" face="Open Sans, sans-serif">In this complimentary version of the report, we provide analysis on the philanthropic foundations in Singapore and featured a list of the 10 Biggest philanthropic foundations in Singapore.</font><br></p>						</div>
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							<p><strong>The complimentary version of the report can be accessed by submitting the form below.</strong></p>						</div>
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							<p><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; font-weight: bolder; color: #25283a; font-family: 'Open Sans', sans-serif;"><em style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit;"><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; color: #151be0;">The full list of the 91 foundations – including information such as their latest annual expenditure, grants disbursed, causes supported, website and email address – is available for purchase at $50. To purchase the full version, please <a href="https://charityguidepoint.sg/product/philanthropy-report/">click here</a>.</span></em></span></p>						</div>
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		<title>Philanthropy on the Road to Nationhood in Singapore</title>
		<link>https://charityguidepoint.sg/philanthropy-on-the-road-to-nationhood-in-singapore/</link>
					<comments>https://charityguidepoint.sg/philanthropy-on-the-road-to-nationhood-in-singapore/#respond</comments>
		
		<dc:creator><![CDATA[Pauline Tan]]></dc:creator>
		<pubDate>Fri, 22 May 2020 05:54:32 +0000</pubDate>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Publication]]></category>
		<guid isPermaLink="false">https://charityguidepoint.sg/?p=4559</guid>

					<description><![CDATA[January 2018 The study reviews the current state of impact investments in Singapore and Hong Kong, particularly those that have engaged with foundations. It further looks at the trends and challenges of the impact investment sector before presenting a list of recommendations. Impact investment assets globally represent a mere 0.2 percent of global wealth as &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/philanthropy-on-the-road-to-nationhood-in-singapore/"> <span class="screen-reader-text">Philanthropy on the Road to Nationhood in Singapore</span> Read More &#187;</a></p>]]></description>
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							<p>December 2015</p>						</div>
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<p><font face="OpenSans"><span style="font-size: 16px;">This paper attempts to address the gap in knowledge on the contributions by philanthropic players to national development in Singapore. Using grounded research, it explores the evolution of giving by individuals, the community and the private sector in Singapore from the end of World War II in 1945 to today. It looks at how each group gives towards prevailing social needs, unexpected events and crises as well as government calls for community support across five key phases in Singapore’s journey to nationhood. To provide context to the giving, the political and socio-economic situation of each time frame and concurrent government social welfare provisions in each phase are also described.</span></font></p><p><font face="OpenSans"><span style="font-size: 16px;">The data collected shows evidence of complementary efforts across the people, public and private sectors over time, from the rebuilding of Singapore after the war to the formation and running of the Singapore Council of Social Service, the Community Chest, Singapore Community Foundation, ethnic self-help groups and various social movements. In the immediate post-war period (1945-1959), all three sectors worked in tandem to rebuild Singapore. In the first years of independence (1959-1975), the public sector took the lead to build basic social and economic infrastructure with the people and private sectors filling in the gaps. Once Singapore had achieved economic stability, the government corralled the community and corporates to first unite in (1975-1990) and then initiate support for the underprivileged (1990-2004). In the last decade, there has been clear evidence of civil society taking the lead in advocating for social inclusion with the government responding with strategies that ensure economic growth without compromising the social and emotional well-being of the people.</span></font></p><p><font face="OpenSans"><span style="font-size: 16px;">From fighting fires in the kampong to containing the SARS epidemic and from donating trishaw-riding wages to build Nanyang University to emptying one’s piggy bank to help the underprivileged, the sense of community spirit and initiative has been strong and enduring in Singapore since the end of World War II. Philanthropy has been both responsive and transformative, transcending time, age, social status and circumstance.</span></font></p><p><font face="OpenSans"><span style="font-size: 16px;"><br></span></font></p><div title="Page 19"><div><div><div><div title="Page 20"><div><div><div title="Page 3"><div><div>
<p><span style="font-weight: bold; font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);">The complimentary version of the report can be accessed by submitting the form below.</span><span style="color: #4b4f58; font-family: -apple-system, 'system-ui', 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5);">&nbsp;</span></p>
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							<p><em style="background-color: var(--ast-global-color-5); font-size: 1rem; color: #25283a;"><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; color: #151be0;">The full list of the 101 foundations – including information such as their latest annual expenditure, grants disbursed, causes supported, website and email address – is available for purchase at $70. To purchase the full version, please&nbsp;<a href="https://charityguidepoint.sg/product/philanthropy-list-2022/">click here</a>. For charities, there is a 15% discount. Please email us at connect@soristic.asia for the discount code.&nbsp;</span></em></p>						</div>
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		<title>Philanthropic Foundations In Asia &#8211; Insights from Singapore, Myanmar and China</title>
		<link>https://charityguidepoint.sg/philanthropic-foundations-in-asia/</link>
					<comments>https://charityguidepoint.sg/philanthropic-foundations-in-asia/#respond</comments>
		
		<dc:creator><![CDATA[Pauline Tan]]></dc:creator>
		<pubDate>Fri, 22 May 2020 05:53:53 +0000</pubDate>
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		<guid isPermaLink="false">https://charityguidepoint.sg/?p=4545</guid>

					<description><![CDATA[February 2018 This study looks at an emerging trend in which wealthy families, individuals, and corporations in Asia set up foundations to institutionalise their giving. This giving is motivated by a myriad of factors beyond prestige and status, including the desire to give back to society, religion, family and personal values, the desire to drive change, personal experience, and/or &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/philanthropic-foundations-in-asia/"> <span class="screen-reader-text">Philanthropic Foundations In Asia &#8211; Insights from Singapore, Myanmar and China</span> Read More &#187;</a></p>]]></description>
										<content:encoded><![CDATA[		<div data-elementor-type="wp-post" data-elementor-id="4545" class="elementor elementor-4545" data-elementor-post-type="post">
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							<p>February 2018</p>						</div>
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							<div><div title="Page 18"><div><div><div><p><span style="background-color: var(--ast-global-color-5); font-family: OpenSans; font-size: 12pt; font-style: inherit; font-weight: inherit;">This study looks at an emerging trend in which wealthy families, individuals, </span><span style="background-color: var(--ast-global-color-5); font-family: OpenSans; font-size: 12pt; font-style: inherit; font-weight: inherit;">and corporations in Asia set up foundations to institutionalise their giving. </span><span style="background-color: var(--ast-global-color-5); font-family: OpenSans; font-size: 12pt; font-style: inherit; font-weight: inherit;">This giving is motivated by a myriad of factors beyond prestige and status, </span><span style="background-color: var(--ast-global-color-5); font-family: OpenSans; font-size: 12pt; font-style: inherit; font-weight: inherit;">including the desire to give back to society, religion, family and personal values, </span><span style="background-color: var(--ast-global-color-5); font-family: OpenSans; font-size: 12pt; font-style: inherit; font-weight: inherit;">the desire to drive change, personal experience, and/or affiliations.</span></p><div title="Page 19"><div><div><div><div title="Page 20"><div><div><div class="page" title="Page 3"><div class="layoutArea"><div class="column"><p><span style="font-size: 12.000000pt; font-family: 'OpenSans';">This study finds that philanthropic foundations in Asia can be characterised by their operational model, governance structure, and philanthropic focus. In emerging economies in Asia like Myanmar and China, these foundations tend to give nationally and operate their own programmes. On the other hand, foundations in developed economies like Singapore and Hong Kong tend to give both regionally and nationally via grants to civil society organisations that operate programmes, as opposed to running programmes themselves. Further, families tend to retain significant control of foundations in Singapore and Hong Kong, while programme funding serves as the preferred funding mode.<br /></span></p><p><span style="font-size: 12.000000pt; font-family: 'OpenSans';">This study also discusses the various challenges and opportunities faced by the nascent philanthropic sector in Asia that can address some of the developmental and structural gaps left by the public, private, and people sectors. </span></p><p><span style="font-weight: bold; font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);"> </span></p><p><span style="font-weight: bold; font-style: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);">The complimentary version of the report can be accessed by submitting the form below.</span><span style="color: #4b4f58; font-family: -apple-system, 'system-ui', 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5);"> </span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>						</div>
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					<div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e4a9e69" data-id="e4a9e69" data-element_type="column">
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							<p><em style="background-color: var(--ast-global-color-5); font-size: 1rem; color: #25283a;"><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; color: #151be0;">The full list of the 101 foundations – including information such as their latest annual expenditure, grants disbursed, causes supported, website and email address – is available for purchase at $70. To purchase the full version, please&nbsp;<a href="https://charityguidepoint.sg/product/philanthropy-list-2022/">click here</a>. For charities, there is a 15% discount. Please email us at connect@soristic.asia for the discount code.&nbsp;</span></em></p>						</div>
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		<title>Impact Investments by Foundations in Singapore and Hong Kong</title>
		<link>https://charityguidepoint.sg/impact-investments-by-foundations-in-singapore-and-hong-kong/</link>
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		<dc:creator><![CDATA[Pauline Tan]]></dc:creator>
		<pubDate>Fri, 22 May 2020 05:53:23 +0000</pubDate>
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		<guid isPermaLink="false">https://charityguidepoint.sg/?p=4535</guid>

					<description><![CDATA[January 2018 The study reviews the current state of impact investments in Singapore and Hong Kong, particularly those that have engaged with foundations. It further looks at the trends and challenges of the impact investment sector before presenting a list of recommendations. Impact investment assets globally represent a mere 0.2 percent of global wealth as &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/impact-investments-by-foundations-in-singapore-and-hong-kong/"> <span class="screen-reader-text">Impact Investments by Foundations in Singapore and Hong Kong</span> Read More &#187;</a></p>]]></description>
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							<p>January 2018</p>						</div>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">The study reviews the current state of impact investments in Singapore and Hong Kong, particularly those that have engaged with foundations. It further looks at the trends and challenges of the impact investment sector before presenting a list of recommendations. </span></p>
<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">Impact investment assets globally represent a mere 0.2 percent of global wealth as reported by the Global Impact Investing Network. By increasing this share to just two percent, the potential of impact investments can reach over US$2 trillion (UNDP, 2016). Impact investments can play a significant role in sustainable development in the Asia Pacific region, potentially providing socio- economic progress for the billions of people living in the region. Foundations in the region can potentially play a significant role given the billions of assets they can deploy. </span></p>
<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">In Singapore and Hong Kong, the following trends have been observed in the impact investment sector:</span></p>
<ul>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Heightened interest in impact investing with the presence of more impact investment managers and intermediaries. There is also a spike in participation in impact investing events in the region.</span></li>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Impact investments are made predominantly by HNWIs and family offices rather than foundations.</span></li>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Interest is driven by millennials, personal values and passions.</span></li>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Investments made by impact investors in Singapore tend to be regionally focused while those in Hong Kong tend to be locally and Greater China focused.</span></li>
</ul>
<p><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">There are two main problems facing the impact investment sector in Hong Kong and Singapore, namely early stage development of impact investment sector and market dysfunction. Under the first problem, challenges include:</span></p>
<ul>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Limited evidence of success in impact investment in the local context as most documented case studies of successful impact investments tend to originate from the US and Europe where impact investments have taken root for a much longer time. Even then, the case studies are few compared to the evidence of success that exists for traditional investments.</span></li>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Lack of local knowledge and network among impact investment managers in Singapore and Hong Kong as many of the scalable social enterprises in Asia are situated in countries such as Indonesia, Vietnam and China.</span></li>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Lack of impact investment managers with long enough track records.</span></li>
<li><span style="font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5); font-size: 10pt;">Long commitment period of impact investment means that patient capital instead of traditional&nbsp;</span><span style="font-style: inherit; font-weight: inherit; font-family: OpenSans; font-size: 10pt; background-color: var(--ast-global-color-5);">capital is needed.</span></li>
<li><span style="background-color: var(--ast-global-color-5); font-family: OpenSans; font-size: 10pt; font-style: inherit; font-weight: inherit;">Limited Information and lack of transparency.&nbsp;</span></li>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">Under market dysfunction, challenges include:</span></p>
<ul>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Inadequate supply and pipeline of investment grade social enterprises as most of the social enterprises in the region are in the seed and early stages which tend to be non-financing-ready. These are less attractive to the funders.</span></li>
<li><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Mismatch of impact investment instruments.</span></li>
</ul>
<p><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">Foundations in Singapore and Hong Kong, with billions of assets at their disposal, have the potential to facilitate and catalyse the impact investment sector through their activities. Currently they are already experimenting with impact investing through the provision of grants to social enterprises. However interests are coming disproportionally from millennials who may not be the trustees of the foundations and are making impact investments in their personal capacity.</span></p>
<p><span style="font-size: 10pt; font-style: inherit; font-weight: inherit; font-family: OpenSans; background-color: var(--ast-global-color-5);">The key challenges for foundations in Singapore and Hong Kong to engage in local impact investments include:</span></p>
<ul>
<li><span style="font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5); font-size: 10pt; font-family: OpenSans;">Relatively small number of foundations with endowments</span></li>
<li><span style="font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5); font-size: 10pt; font-family: OpenSans;">Foundations still commit to traditional philanthropy</span></li>
<li><span style="font-family: OpenSans; font-size: 10pt; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5);">Lack of capabilities to engage in impact investing</span></li>
<li><span style="font-family: OpenSans; font-size: 10pt; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5);">Lack of success stories in local context</span></li>
<li><span style="font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5); font-size: 10pt; font-family: OpenSans;">Restrained by established operating principles</span></li>
<li><span style="font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-5); font-size: 10pt; font-family: OpenSans;">Regulatory concern</span></li></ul><div><div title="Page 20"><div><div>
<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">Recommendations </span></p>
<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">Based on our initial findings, we recommend the following action plan in Singapore and Hong Kong to catalyse the impact investment sector for take off. </span></p>
<ol style="list-style-type: none;">
<li>
<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">a) &nbsp;Foundationscanactasventurephilanthropiststocatalyseecosysteminfillinggapsincapitalspec- trum to providing patient capital for early stage social enterprises </span></p>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">b) &nbsp;Provide longer tenor instruments to build more sustainable social enterprises </span></p>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">c) &nbsp;Improve the capacity building of social enterprises by providing tailored training instead of generic training </span></p>
</li>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">d) &nbsp;Develop focused and practical curriculum for impact investors such as deeper country and sector focused content and more practical know-how to provide guidance on transaction execution, mon- itoring and management beyond the basics that current workshops are covering </span></p>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">e) &nbsp;Champion collective impact investments or platforms to alleviate the information asymmetry and lack of experience that have been observed in deal sourcing, due diligence and deal execution for impact investments </span></p>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">f) &nbsp;Share information and seek partnerships to unlock greater resources to scale up social solutions </span></p>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">g) &nbsp;AdvocateandsharingofsuccessfulAsiancasestudiestodriveconfidenceforimpactinvestmentto go mainstream </span></p>
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<p><span style="font-size: 10.000000pt; font-family: 'OpenSans';">h) &nbsp;Leadership by big players such as government institutions or big foundations to drive dialogue and interest as a way to demonstrate commitment to and leadership in impact investment.</span></p>
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		<title>Innovation in Asian Philanthropy</title>
		<link>https://charityguidepoint.sg/innovation-in-asian-philanthropy/</link>
					<comments>https://charityguidepoint.sg/innovation-in-asian-philanthropy/#respond</comments>
		
		<dc:creator><![CDATA[Pauline Tan]]></dc:creator>
		<pubDate>Wed, 22 May 2019 03:38:22 +0000</pubDate>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Publication]]></category>
		<guid isPermaLink="false">https://charityguidepoint.sg/?p=4509</guid>

					<description><![CDATA[April 2013 How philanthropy in Asia will develop in the coming decade matters. Despite economic progress having lifted millions out of poverty in the last 20 years, one half of Asia’s 1.63 billion people live on incomes of less than $2[1] a day. We don’t yet fully understand the impact of the 2008 global financial &#8230;<p class="read-more"> <a class="" href="https://charityguidepoint.sg/innovation-in-asian-philanthropy/"> <span class="screen-reader-text">Innovation in Asian Philanthropy</span> Read More &#187;</a></p>]]></description>
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<p>How philanthropy in Asia will develop in the coming decade matters. Despite economic progress having lifted millions out of poverty in the last 20 years, one half of Asia’s 1.63 billion people live on incomes of less than $2[1] a day. We don’t yet fully understand the impact of the 2008 global financial crisis on Asia, but the Asian Development Bank predicts that the number of poor in nearly half of its 25 developing member countries will increase. Even in countries with sustained economic growth rates, like China, there is an increasing environmental burden to bear because of growth and a challenge to social order from a widening gap between rich and poor. Personal wealth is being created in Asia Pacific at unprecedented levels. The number of high net worth individuals (HNWIs) grew by 1.6 percent from 2010 to 3.37 million, overtaking the number of wealthy in either North America or Europe. While over half of the region’s wealthy are in Japan, the number in developing economies is growing &#8211; 16.1 percent of HNWIs are in China. Eight of the 20 fastest growing HNWI populations are now in Asia Pacific, including Hong Kong, Vietnam, Sri Lanka, Indonesia, Singapore and India. This tension between widespread poverty and wealth creation potentially provides the foundation for the growth and maturation of private philanthropy in the region. Dennis Cheek asks if new wealth in Asia is a cause for rejoicing (Cheek, 2012). He points out that the astonishing growth in Asian private wealth needs to be matched by a new generation of Asian philanthropists with the leadership and imagination to “push for transformational projects that reinvent and massively improve social systems through a tough- minded, innovative and rigorous approach to managed change.” The entrenched depression of the global economy has resulted in a perceptible shift in attitude to extreme wealth. Politicians in the United States and Europe call for higher taxes on the wealthy, in China public scrutiny of the wealthy is a sensitive political issue. Gideon Rachman of The Financial Times speaks of a global backlash against the rich, and there has perhaps been no better time in recent history for those with wealth to demonstrate their responsibilities to use it through new, creative forms of philanthropy.</p>
<p>The Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP) was established in 2011 within the National University of Singapore’s Business School. Its primary research interest lies at the intersection of the diverse practices of social entrepreneurship and philanthropy. This study on innovation in Asian philanthropy was commissioned by Fondation Lombard Odier, the foundation of the partners of one of Europe’s oldest private banks, established in Geneva in 1796. Our publication is the second in a series of ACSEP working papers concerned with what we have termed ‘entrepreneurial social finance’ in Asia, which explores how philanthropy is responding to the financial and non- financial needs of the region’s social entrepreneurs. The term philanthropy is most commonly associated with straightforward grant making, most usually making donations where all capital is lost and no return expected. In modern practice, philanthropy is</p>
<p><span style="font-style: inherit; font-weight: inherit; font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);">more sophisticated and diverse than this, wanting to utilise as many tools as possible with the goal of creating sustained social change. Recognising this, we prefer to define philanthropy, in this study, as the deployment of financial and human capital for primarily social impact. For this reason we investigate the growing interest in ‘impact investing,’ which seeks to use non-grant finance to maximise the social and financial outcomes by investing in social businesses.</span></p>
<p>Even within this understanding of philanthropy, there is a wide spectrum from ‘retail’ giving (the relatively small amounts given by the general public) to donations and specialised philanthropy vehicles of the comparatively wealthy. This study is intentionally focused on ‘high end’ philanthropy by HNWIs, and professionally managed philanthropy vehicles such as grant making foundations and impact investment funds. It is natural that those who give their wealth to charity or invest in social enterprises will expect these acts to make a difference. Some go further and see themselves as what Teresa Lloyd calls ‘catalysts for change’ in her book on Why the Wealthy Give. (Lloyd, 2004) Having the confidence that their giving can make a sustained, beneficial impact is what Paul Schervish calls the hyperagency of the Modern Medici: “While great expectations and grand aspiration exist across the financial spectrum,” it is the wealthy who can make things happen (Schervish, 2000). This is the underpinning of what, more recently, Bishop and Green have coined philanthrocapitalism.</p>
<p><span style="font-style: inherit; font-weight: inherit; font-family: var( --e-global-typography-text-font-family ), Sans-serif; background-color: var(--ast-global-color-5);">We also explore the growing phenomenon of ‘giving circles,’ which engage HNWIs and the more modestly wealthy class of business professionals. Similarly, we recognise the value of non-financial forms of philanthropy, building upon traditional volunteerism to release business acumen and access to networks that is akin to angel investing in the commercial world. We have by and large avoided much of what is termed ‘corporate social responsibility’ (CSR) in the study. This is not to undervalue the importance of CSR in Asia, but to recognise that it is a distinct area of study, beyond our immediate interests. We have included examples of how young, entrepreneurial businesses in Asia have developed to imbed philanthropy into their organisation, where the founding principals are still involved in shaping the values and social responsibilities of the business.</span></p>
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							<p><em style="background-color: var(--ast-global-color-5); font-size: 1rem; color: #25283a;"><span style="margin: 0px; padding: 0px; border: none; outline: none; line-height: inherit; color: #151be0;">The full list of the 101 foundations – including information such as their latest annual expenditure, grants disbursed, causes supported, website and email address – is available for purchase at $70. To purchase the full version, please&nbsp;<a href="https://charityguidepoint.sg/product/philanthropy-list-2022/">click here</a>. For charities, there is a 15% discount. Please email us at connect@soristic.asia for the discount code.&nbsp;</span></em></p>						</div>
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