In recent years, there’s been increased momentum in philanthropy in Asia. Where is all of it going?

After an action-packed start-up year at Real Impact Advisors (RIA), our Singapore-based philanthropy advisory, I cannot help but look at the world and ponder the future of philanthropy in Asia. Many in the impact sector are reeling from the US government cuts in funding – and the assumption is that news will only get worse.

This should not be news for philanthropy in Asia. Last year, RIA worked on a project to explore catalysing more Asian funding towards public health because global funding to this part of the world is expected to decrease significantly. There must be a realisation by Asia that it should sit up and support itself, even more than before. Our economies have prospered over recent decades, there has been a significant increase in wealth in the region, and Asian philanthropy is experiencing its own boom. What’s the disconnect?

One of the reasons for founding Real Impact Advisors (RIA) was a response to nascent philanthropy in Asia – there has been buzz, big announcements, and lots of money bandied around. Many have been excited about it, but unsure about how to translate this momentum on the ground, and if the funds were really going to where the needs are.

Reflecting on this, RIA completed 11 projects with funders and NGOs in our first year of operations. I am tremendously proud of our achievement, especially whilst building a new organisation, but we need to also revisit the goals of RIA’s creation and if indeed we are on track:

  • Are we serving the needs of the sector in the way we approach philanthropy in Asia?
  • Are we facilitating more impact?
  • Are we guiding others to ‘do things right’ in order to spread our impact further beyond our immediate work?

Those were hard questions to tackle for a fledgling advisory, but they were critical ones as we wanted to be sure that we were not just working to pay the bills, but truly improving lives, the sector, and the way we in the impact sector do things.

Read the full article about philanthropy in Asia by Stacey Choe at Alliance Magazine.