SINGAPORE—September 9, 2024—Institutional philanthropy in Asia and beyond is beginning to formalise practices that enable meaningful and enduring impact, and there is a great opportunity for it to scale up and address social and environmental needs, according to new research by The Bridgespan Group.

The research, prepared with the financial support of the Institute of Philanthropy (“IoP”), was unveiled today at the Philanthropy for Better Cities Forum 2024 in Hong Kong. It broadly explores the growth of institutional giving in Asia relative to other parts of the world and identifies five high-impact practices for institutions looking to achieve meaningful and enduring impact through their philanthropy. The study, which is rich in supportive data, compares the activities of the largest 20 global and Asian institutional philanthropies, including private foundations, corporate foundations, and state-linked entities focused on philanthropic work. Such funders have come to play a large and growing role in addressing pressing issues in areas such as education, health, economic development, and climate change.

“Our new study builds on previous Bridgespan research analysing philanthropic giving trends in Southeast Asia,” said Gwendolyn Lim, Bridgespan partner and co-author of the report. “Asia is home to more billionaires than any other part of the world. As much as US$702 billion in philanthropic capital per year could be unlocked if Asian countries were to match the United States, for example, in terms of philanthropic spending.”

The report identifies five high-impact practices that surface again and again in institutions that achieve meaningful and enduring impact through their philanthropy:

• Put impact first: High-impact institutional philanthropies are clear about the difference they intend to make in addressing social or environmental problems. This clarity of purpose lays the groundwork for defining the impact they seek.
• Set ambitious goals: High-impact philanthropies establish ambitious goals, striving for deep and sustainable positive change. In some instances, philanthropies aspire to population-level transformative scale; in others, ambitious goals manifest to deeply impact the lives of a particular community. Regardless of scope, setting an ambitious purpose also spurs philanthropies to think beyond symptoms to root causes of social or environmental problems.
• Appropriately resource your giving: High-impact philanthropies commit to long-term support, often with unrestricted funds, for nonprofits or operating foundations. They also commit resources at a scale that is commensurate with the extent of their ambitions, and often at a speed that matches the urgency of the need.
• Embed data-driven learning: The path to change is rarely linear – that is why high-impact philanthropies use data as a tool for learning and decision-making to maximise the impact of their giving, not just for reporting or auditing. By using diverse types of data, high-impact philanthropies ensure their decision-making process is robust and well-informed.
• Engage other actors: High-impact philanthropies recognise that the problems they have chosen to address are too big and complex for one organisation to solve. A growing number of philanthropies are turning to the communities they serve to co-create effective solutions, sharing information with other philanthropies, and partnering with governments.

“These high-impact practices offer a starting point and an opportunity to learn by doing, shaping the practices to fit diverse values and priorities. By giving more, faster, and better, institutional philanthropies can help foster a more equitable society and ensure that the remarkable economic growth seen across Asia translates into inclusive and sustainable development for all,” said Xueling Lee, Bridgespan Principal and co-author of this report.

A companion report that more deeply explores the key practices of leading funders will be published in October.

Read the full report at: https://www.bridgespan.org/insights/high-impact-philanthropy-giving-better-across-asia-and-the-world

About The Bridgespan Group

The Bridgespan Group (www.bridgespan.org) is a global nonprofit that collaborates with social change organisations, philanthropists, and impact investors to make the world more equitable and just. Bridgespan’s services include strategy consulting and advising, sourcing and diligence, and leadership team support. We take what we learn from this work and build on it with original research, identifying best practices and innovative ideas to share with the social sector. We work from locations in Boston, Delhi, Johannesburg, Mumbai, New York, San Francisco, Singapore, and Washington, DC.

About the Institute of Philanthropy

The Institute of Philanthropy was established in September 2023 through a strategic seed grant of HK$6.8 billion (US$870 million) from The Hong Kong Jockey Club and its Charities Trust. Established as an independent “think-fund-do” tank for China and Asia, IoP is dedicated to promoting philanthropic thought leadership and enhancing sector capabilities at local, regional and global levels in collaboration with fellow funders. It seeks to provide an Asia-based platform bringing global stakeholders together to promote the betterment of societies everywhere.