Giving Compass' Take:

• The author discusses how the next generation of philanthropists in Asia are growing and putting more money into social impact work rather than direct cash donations like their parents and grandparents.

• Will other countries younger philanthropists that are accustomed to traditions direct cash donations also pivot towards social enterprise philanthropy?

• Read more about Asia's philanthropic potential and the direction philanthropy is headed in.

Philanthropy in Asia has long been about simply writing checks - some extremely large - but a new generation is re-writing that rule book in dramatic and effective ways.

Take Mr Nguyen-Phuong, 29 for example: co-founded Udentity, an education platform that promotes skills for Asian youth. That led to the 2003 birth of Empowering Children of Vietnam, a student-run global concern that strives to support Vietnamese children.

There is a growing trend where the next generation of high-net-worth individuals actively contribute to the social enterprise and philanthropic scene in Asia. They represent a major change from their parents or grandparents, whose philanthropy usually involved just cash donations.

One reason this next generation is pursuing a more enthusiastic role in philanthropy is obligation, according to accounting giant Deloitte. It found that almost two-thirds of those under 40 feel obliged to change the world for the better.

This attitude can be seen in their refusal to consider money as a sole success factor but rather to give more value to brands and employers who act socially responsible.

Family is another factor behind the younger generation's desire to do good. "Family philanthropy can help to foster family cohesion while instilling the family's values over the generations," said Ms Susan Sy, head of philanthropy advisory for South-east Asia at UBS Global Wealth Management.

Read the full article about next gen Asian philanthropy by Elyssa Tan at The Straits Times