Giving Compass' Take:

• A study from the Harvard Kennedy School issued a report stating that there has been an increase in global philanthropy across the world over the last two decades.

• How does global philanthropy affect domestic efforts?

• Read about the creation of the data charter that will help shape the future of global philanthropy.

One boon of the explosion in global wealth over the last two decades has been an explosion in philanthropy across the world, according to Global Philanthropy Report: Perspectives on the global foundation sector, a study from the Harvard Kennedy School with support by UBS

“We knew philanthropy was growing in many countries, but we didn’t realize that trend would be so clear and so global,” says Paula Johnson, author of the report and a senior researcher at Harvard. Aside from expanding wealth, foundation growth is also fueled by a desire to give back by those who have benefited from economic expansion, as well as changes in legal and policy environments for philanthropy.

Although researchers believed more foundations—or similar institutions—were popping up across the world, there was little data before this report to support that idea.

Harvard’s research uncovered global assets in philanthropic foundations in 23 countries and Hong Kong total nearly US$1.5 trillion, and that these institutions distribute about US$150 billion a year. But these funds represent only a slice of existing global institutions that likely exist, so the true impact of philanthropic efforts is undoubtedly larger, the report says. That’s because even after two-and-a-half years of research, the study doesn’t include all countries and foundations.

One conclusion surfacing from the data collected is that many foundations pursue the same objectives, yet they don’t work together. That lack of collaboration limits their ultimate impact, says John Mathews, head of private wealth management and ultra-high net worth, UBS Wealth Management USA.

UBS has observed this trend, and in some instances, has facilitated connections between individuals and families, including an effort to address autism via scientific research and job programs.

The most prominent focus of philanthropy globally is education, followed by human services and social welfare, health, arts and culture, and poverty alleviation.

Read the full article about global philanthropy by Abby Schultz at Barron's