A foundation named after Singapore-born coal tycoon Low Tuck Kwong is the top private giver in a list of Singapore’s 10 biggest philanthropic organisations in terms of donations given. The Low Tuck Kwong Foundation, set up in December 2022, gave $127.6 million in philanthropic donations in Singapore in 2023 to educational and healthcare causes.

The report by Soristic Impact Collective, a social impact consultancy, noted that in 2023, the foundation donated $101 million to the NUS Lee Kuan Yew School of Public Policy, aimed at expanding opportunities for the next generation of Asian leaders in public service and beyond.

Other recipients of its philanthropic donations in Singapore include hospitals in the region. Mr Low built his wealth in the natural resources sector and is the founder of Bayan Resources, a coal mining company in Indonesia.

The third edition of the Singapore’s Biggest Philanthropic Organisations list, released on Dec 6, was compiled by Soristic Impact Collective based on publicly available data such as the groups’ latest financial year statements and annual reports. It can include grants given locally and internationally.

In second place was the Lee Foundation, founded by late rubber tycoon Lee Kong Chian in 1952, which gave $41.7 million in philanthropic donations in Singapore in 2023 to a host of charitable causes such as alleviating poverty and education.

Data about philanthropic donations in Singapore was compiled from publicly accessible sources, including annual reports and the Charity Portal, between September and November 2024. The ranking is based on the most recent annual grant disbursements between financial years 2022 and 2024, with the majority of data from financial year 2023.

The report on philanthropic donations in Singapore includes only philanthropic organisations that are registered as charities with the Commissioner of Charities or listed as grant-makers with the Inland Revenue Authority of Singapore.

The 2024 edition included 117 organisations, up from 101 in 2023.

The total amount of grants hit $431 million, a 96 per cent jump from $220 million the year before, with Low Tuck Kwong Foundation contributing nearly 30 per cent of the total of philanthropic donations in Singapore. Excluding the foundation, the total amount in the 2024 list would have exceeded the previous sum by about 38 per cent.

Read the full article about philanthropic donations in Singapore at Community Foundation of Singapore.