{"id":4509,"date":"2019-05-22T03:38:22","date_gmt":"2019-05-22T03:38:22","guid":{"rendered":"https:\/\/charityguidepoint.sg\/?p=4509"},"modified":"2023-05-22T10:59:18","modified_gmt":"2023-05-22T10:59:18","slug":"innovation-in-asian-philanthropy","status":"publish","type":"post","link":"https:\/\/charityguidepoint.sg\/cn\/innovation-in-asian-philanthropy\/","title":{"rendered":"Innovation in Asian Philanthropy"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"4509\" class=\"elementor elementor-4509\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-94b655b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"94b655b\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c54ca47\" data-id=\"c54ca47\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d6f36e0 elementor-widget elementor-widget-text-editor\" data-id=\"d6f36e0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.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>\t\t\t\t<p>April 2013<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81b1300 elementor-widget elementor-widget-text-editor\" data-id=\"81b1300\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div>\n<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\u2019s 1.63 billion people live on incomes of less than $2[1] a day. We don\u2019t 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\u2019s 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 \u201cpush for transformational projects that reinvent and massively improve social systems through a tough- minded, innovative and rigorous approach to managed change.\u201d 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>\n<p>The Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP) was established in 2011 within the National University of Singapore\u2019s 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\u2019s 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 \u2018entrepreneurial social finance\u2019 in Asia, which explores how philanthropy is responding to the financial and non- financial needs of the region\u2019s 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>\n<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 \u2018impact investing,\u2019 which seeks to use non-grant finance to maximise the social and financial outcomes by investing in social businesses.<\/span><\/p>\n<p>Even within this understanding of philanthropy, there is a wide spectrum from \u2018retail\u2019 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 \u2018high end\u2019 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 \u2018catalysts for change\u2019 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: \u201cWhile great expectations and grand aspiration exist across the financial spectrum,\u201d 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>\n<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 \u2018giving circles,\u2019 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 \u2018corporate social responsibility\u2019 (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>\n<div>\n<div>\n<div>\n<div>\n<div>\n<div>\n<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>&nbsp;U.S. Dollars are used throughout this working paper, unless otherwise specified. Currency conversions, where used, are approximate.<\/p>\n<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-style: inherit; font-weight: inherit; font-size: 11.5pt; font-family: 'Open Sans', sans-serif; color: #25283a;\"><br><\/span><\/p>\n<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>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" 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.select-caret-down-wrapper{position:absolute;top:50%;transform:translateY(-50%);inset-inline-end:10px;pointer-events:none;font-size:11px}.elementor-select-wrapper .select-caret-down-wrapper svg{display:unset;width:1em;aspect-ratio:unset;fill:currentColor}.elementor-select-wrapper .select-caret-down-wrapper i{font-size:19px;line-height:2}.elementor-select-wrapper.remove-before:before{content:\"\"!important}<\/style>\t\t<form class=\"elementor-form\" method=\"post\" name=\"Singapore Biggest Philanthropic Organisation 2022 download form\" action=\"\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"4509\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"6791d02\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"\" \/>\n\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-100 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class=\"elementor-button-icon\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Send<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<input type=\"hidden\" name=\"trp-form-language\" value=\"cn\"\/><\/form>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-6ad6aa0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ad6aa0\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e4a9e69\" data-id=\"e4a9e69\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-39bd147 elementor-widget elementor-widget-text-editor\" data-id=\"39bd147\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<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 \u2013 including information such as their latest annual expenditure, grants disbursed, causes supported, website and email address \u2013 is available for purchase at $70. To purchase the full version, please&nbsp;<a href=\"https:\/\/charityguidepoint.sg\/cn\/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>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>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\u2019s 1.63 billion people live on incomes of less than $2[1] a day. We don\u2019t yet fully understand the impact of the 2008 global financial &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/charityguidepoint.sg\/cn\/innovation-in-asian-philanthropy\/\"> <span class=\"screen-reader-text\">Innovation in Asian Philanthropy<\/span> \u67e5\u770b\u5168\u6587 &raquo;<\/a><\/p>","protected":false},"author":8,"featured_media":4511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"content-boxed-container","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[28,30],"tags":[],"class_list":["post-4509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-publication"],"_links":{"self":[{"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/posts\/4509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/comments?post=4509"}],"version-history":[{"count":13,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/posts\/4509\/revisions"}],"predecessor-version":[{"id":4530,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/posts\/4509\/revisions\/4530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/media\/4511"}],"wp:attachment":[{"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/media?parent=4509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/categories?post=4509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/charityguidepoint.sg\/cn\/wp-json\/wp\/v2\/tags?post=4509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}