Global philanthropic bodies have US$1.5t assets

Singapore

PHILANTHROPIC foundations globally are estimated to hold assets of close to US$1.5 trillion, but half have no paid staff and budgets are relatively modest at an average US$1 million, a study has found.

The Global Philanthropy Report found that the philanthropic sector is relatively young - 72 per cent of foundations were established in the past 25 years.

The majority of foundations - an estimated 260,000 - are in Europe, and 35 per cent in North America. Asia has a modest share of just 5 per cent despite ind…