Altrata Highlights Trust-Based Philanthropy Reshaping Asian Philanthropy Practices
Trust-Based Philanthropy: A New Era in Asian Philanthropy
Recent findings from Altrata underscore a transformative shift within Asian philanthropy. As ultra-high-net-worth individuals embrace trust-based philanthropy, decision-making power is increasingly being transferred from funders to grantees, leading to reduced administrative burdens and better social impact.
Impact Assessment in Philanthropic Giving
- Technological advancements are crucial for evolving impact assessments.
- Emerging tools like artificial intelligence and blockchain can enhance transparency and measurement.
- Adopting these technologies can expedite delivery and improve accountability.
Integrating Technology and Collaboration
Asian foundations are shifting towards collaborative grant-making strategies. By engaging grantees in impact assessments and project design, philanthropy in Asia is becoming more inclusive and effective. A joint study by the Institute of Philanthropy and McKinsey & Company emphasizes that trust and measurement are not mutually exclusive; integrating these aspects can foster greater impact.
Strategies for Future Growth
- Building Capacity: Investing in training programs to enhance measurement capabilities.
- Leveraging Technology: Implementing innovative tech solutions.
- Encouraging Collaboration: Fostering shared infrastructure among philanthropic organizations.
In summary, as Asian philanthropy continues to evolve, the blend of trust-based approaches alongside technological and collaborative efforts is essential to drive impactful and sustainable social change.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.