Temasek Trust has founded TT Foundation Advisors (TTFA), which seeks to be an inclusive independent provider of philanthropic consulting and management services to philanthropic foundations, family offices, corporate enterprises, philanthropists, and charities in Asia.
Asia’s charitable scene
Asia’s philanthropy landscape is rapidly changing, with Asian millennials estimated to own more than one-third of global wealth by 2030.
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Family offices have begun to prioritise charity, as younger generations desire greater support for environmental and sustainability issues.
The transition towards catalytic philanthropy focuses on impact measurement and evidence-based giving.
With over 1,400 Single Family Offices and 50% of Southeast Asia’s notable businesses, Singapore is becoming a philanthropic hotspot for the region.
SFOs can seek guidance on local expenditure rules, outsource Philanthropy Professionals, and be eligible for tax incentives on overseas donations.
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By GlobalDataMoreover, private banks may designate an impartial and reliable partner to offer solutions if they intend to offer DAF and philanthropy advising services.
In order to support local and regional giving, these changes have increased demand for DAFs and outsourced independent philanthropy advice services.
TTFA objectives
Furthermore, TTFA aims to enhance regional philanthropy capabilities by enhancing access to philanthropy advisory and management services.
It intends to leverage Temasek Trust’s networks and initiatives to build a thriving philanthropic ecosystem throughout Asia.
Clients can receive impact measurement, management training, and insights from Temasek Trust groups.
They can also work together on projects through the Philanthropy Asia Alliance and explore global impact opportunities on Co-Axis, a digital catalytic capital marketplace for innovators and funders of social and environmental impact.
David Chee, partner, private wealth and Middle East Practices, Wong Partnership stated: “The launch of TT Foundation Advisors is a positive industry development and will help to strengthen the philanthropic ecosystem. Philanthropy advisory and management services will be more accessible. Clients now have another option of a reputable and trusted service provider which is not linked to a financial institution.”
Dickson Lim, head, TT Foundation Advisors added: “My team and I at TT Foundation Advisors will leverage Temasek Trust’s insights, capabilities, and resources, as well as the expertise and evidence-based interventions across the wider philanthropic ecosystem, and partner with our clients to deliver strategic and impactful solutions that resonate with their passions, values, and the communities they care deeply about.”
Veteran Lim supports Asian philanthropists, family offices, and corporations plan, structure, and manage their charitable ideas and legacies throughout generations and leadership transitions.
