Learn how donors and charity partners can take advantage of Myriad, our new alliance for borderless giving.
Last month, Give2Asia and its partners announced the launch of Myriad, a new alliance to facilitate giving across borders.
Here’s a quick overview of what Myriad makes possible for donors and charities…and how it complements the services and programs you’ve come to trust at Give2Asia. If your question isn’t answered here, please don’t hesitate to get in touch.
What is Myriad?
Myriad is the name of a new alliance formed by Give2Asia, The King Baudouin Foundation, and their global affiliates. Through our charitable entities and partnerships, we offer tax-advantaged giving in:
- Hong Kong SAR PRC
- Much of Europe
Each of our organizations continues to operate independently. With the Myriad alliance, we can now offer standard services and consistent pricing for donors in every region we serve.
Why an alliance for international philanthropy?
Making charitable investments around the world is not easy. Three reasons for this include:
- Each nation has different rules governing how charities operate, the activities charities are allowed to participate in, and the kinds of donations (if any) that qualify for tax benefits
- Anti-money laundering and anti-terrorism laws put special requirements on transfers of funds moving across borders
- Some governments also regulate donations into their country in order to better control what investments are made by foreign sources into their society
To overcome these challenges, professional institutions, legal experts, and financial advisors carefully navigate this terrain to ensure activities are successful and to reduce risk. For many donors—whether you’re giving $5 or $5 million—it makes sense to work in partnership with organizations like Give2Asia or KBF that specialize in cross-border philanthropy and grantmaking.
At the same time, Give2Asia and our partners have developed special skills and capabilities that leverage local knowledge and years of experience … in both donor and grantee locations. We formed the Myriad alliance because together, our diverse skills and shared priorities allow us each to work better and offer more options to the donors and organizations we work to support.
Will the Myriad alliance affect my existing work with Give2Asia?
The Myriad alliance won’t affect your existing philanthropy team or grant portfolio at Give2Asia.
When a donation starts or ends in a location covered by our alliance partners, we’ll coordinate with them to ensure your grants are properly stewarded. You can work with one partner for all your needs or with each partner directly as you see fit.
How does the Myriad alliance help donors?
For donors, Myriad makes it possible to reach more locations and take advantage of new services. Donors can:
- Initiate donor-advised grants to charities in Africa, Europe, and Canada—as well as the Asia-Pacific—from a fund at Give2Asia.
- Benefit from aligned fees for common services offered by Give2Asia and our partner.
- Explore new giving options, such as Art Giving and Legacy Funds, which have been added thanks to the alliance.
Corporate donors can take advantage of two additional capabilities:
- Establish disaster response campaigns to engage employees with tax-deductible giving in multiple countries.
- Extend your international grantmaking capabilities using our tailored Corporate Plus service.
How does the Myriad alliance help charities?
Charities in Asia now can raise money from international donors in many more locations. Organizations currently working with Give2Asia can now set up multiple Friends Funds to reach international donors in the US, Canada, Europe, Australia, and Hong Kong SAR PRC. Each partner in the Myriad network offers localized fundraising pages that generate the appropriate tax receipts for donors in those locations.
Different charities will find different ways to use the alliance. For example:
- A university in Japan could set up Friends Funds to reach alumni living in multiple locations around the world
- An education charity in India could make it easier for major donors in China – Hong Kong SAR to fund a new program
- A women’s health charity in Kenya can offer secure payment options to donors in the US and Australia
It’s important to note that each Friends Fund must be established with each Myriad partner serving a specific location. For example, a Friends Fund for donors in Europe will be established with KBF directly. (We offer a significant discount to the setup fee for charities with multiple Friends Funds, and no annual fees.)
Eligibility laws also vary, so some charities may not be able to set up Friends Funds in all locations depending on whether regulations in the donor country align with the charity’s activities.
How can I learn more?
If you have questions about your existing fund—or new giving opportunities through the Myriad alliance—please don’t hesitate to contact your Give2Asia philanthropy advisor or request a consultation with our team.