October 6, 2011
The Economist in partnership with HSBC has released a new study on Asian philanthropy that finds a trend toward more strategic giving. The report is based upon first-hand research and interviews with several experts in the field of Asian philanthropy, including Dien Yuen who is Give2Asia’s Chief Philanthropy Officer.
DOWNLOAD THE REPORT
The full report is available as a PDF download. Click here and choose the “RESEARCH” tab to start the download.
In the report, Ms. Yuen shares her views on the informal giving channels that have existed in Asia for generations, and on the recent growth of new foundations in China since the the government there passed new enabling legislation in 2004.
According to Dien Yuen, chief philanthropy officer at Give2Asia, a US-based philanthropic advisory organisation that matches donors with charities in Asia, “It’s not that there aren’t good groups in China, it’s just that donors have a difficult time finding them and establishing trust.” This lack of trust is the main reason why there was an explosion of new private foundations in 2004 following their legalisation. Many were set up by wealthy entrepreneurs who desired both anonymity and sufficient oversight of the foundations’ programs. This growth occurred despite the regulatory obstacles to establishing and running such organisations, which must have RMB 2m (worth US$295,421 in 2010) in initial registered capital and pay corporate tax rates of 33% on all disbursements and capital gains.