Why Philanthropy?

34 OCTOBER 2016 EPOCH TIMES WHY PHILANTHROPY ? SHUTTERSTOCK WHY PHIlaNTHROPY? It’s not just about being able to write a cheque. It’s being able to touch somebody’s life. Oprah Winfrey, Host, Actress, Producer and Philanthropist By Li Yen | Epoch Times Staff hilanthropy is a Greek term that means “love of mankind”. Ac- cording to Investopedia, the earli- est act of philanthropy happened Pas far back as 347 B.C., when Greek philos- opher Plato authorised his nephew in his will to draw on the revenues of the family farm to finance the educational academy that he had founded. if you are not thinking deeply about your Compared to charity, philanthropy in- destination, and designing solutions to volves charitable giving initiatives that are get you there. Unfortunately, traditional altruistic, long-term and strategic. These assumptions about how we ‘do’ philan- are usually achieved through donations of thropy often gets in the way of progress,” money, property, or work to needy people he added. by individuals or organisations that aim to goes beyond the traditional donor-spon- Foundations that have been estab- ameliorate human welfare on a large scale. sor method. The family foundation inau- lished over the decade include Ong Typically, philanthropy tends to address gurated the Lien Centre for Palliative Care, Foundation, set up by the two sons of the root cause of the problem. Some say Lien Centre for Social Innovation and Lien late President Ong Teng Cheong in 2012. charity is akin to giving a fish to a hungry Aid, to name a few, and has contributed It is also the philanthropic branch of man, whereas philanthropy is teaching S$119 million over the years, particularly ONG&ONG, an architecture firm pio- the hungry man how to fish. to initiatives concerning pre-school edu- neered by their late parents. cation, dementia and palliative care, water Similarly, property tycoon Chua Tian ‘The Last Point of Any Business is and sanitation in Asia, and even end-of- Poh of Ho Bee Group and his siblings set Philanthropy’ life issues. up the Chua Foundation in 2015 to honour “In any fashion of business, from the point An example of its initiatives is the Hos- their late mother’s giving spirit, accord- you start your business to (when you’ve pitable Hospice, a joint design study com- ing to an article entitled ‘The new philan- built) a multimillion-dollar business, the things with that for the benefit of other missioned by the Lien Foundation and thropists in town’ published in The Straits last point of any business is philanthropy people and society.” ACM Foundation. Undertaken by design Times. Mr Chua has a net worth of US$1.1 – because you earn so much money, but consultancy firm, fuelfor, it unveils sev- billion (S$1.35 billion) as per Forbes Sin- what can you do with the money? You Philanthropy and Philanthropic en radical approaches and 24 key design gapore’s 50 richest list. cannot just keep on eating and enjoying,” Foundations in Singapore principles to position hospices for tomor- Conversely, The Silent Foundation is opined Azhar Othman, Regional Man- In Singapore, affluent businessmen, row. The handbook, Hospital Hospice – Re- one foundation that does not bear its aging Director of Enercon Asia Pte Ltd, tycoons and scions of notable families designing Care for Tomorrow, launched in family name. The founder, Mr Teng Ngiek Managing Director of Zaffra Solar Ltd and are among some of our more famous Sep 2013, won the acclaimed IDEA 2014 Lian, told Coutts Institute Million Dol- Chief Executive Officer of Zaffra Innova- philanthropists. Many of them establish Award in the design research category lar Donor Report in 2014: “Doing phil- tors & Leaders Pte Ltd. foundations to open the door for their from the American Design Association. anthropic works is a noble cause, and it In fact, many businessmen like Mr philanthropic efforts, often setting them It was also warmly received overseas doesn’t really matter whether it is your Azhar begin the journey of meaningful up in a family name. Asian philanthropists, and distribution requests were made by family member or anybody else doing it. giving after attaining a certain wealth in particular, have the mindset of leaving organisations such as Hospice UK. Cur- That is why the foundation does not carry and realising that contributing to society wealth to one’s offspring, and in this case, rently, the three participating hospices – our family name.” and helping people with their money give the establishment of such foundations is Dover Park Hospice, Assisi Hospice and The late Lee Seng Gee once urged Sin- them greater joy than indulging in end- another way of leaving a legacy to their St Joseph’s Home – are working with the gaporeans to step forward: “What I have less luxury. As famous industrialist and descendants. team to prototype some of the concepts. done through the Lee Foundation over philanthropist Andrew Carnegie once One of the largest family foundations As pointed out by Mr Lee Poh Wah, CEO the years has been but a drop in the said, “Wealth is not to feed our egos, but in Singapore is Lee Foundation, set up by of Lien Foundation, Lien Foundation ocean. I hope that more Singaporeans to feed the hungry and to help people help late rubber tycoon Lee Kong Chian. His stands out from other funders or founda- will come forward to help the less privi- themselves.” son, the late Lee Seng Gee, followed in his tions on three fronts: leged and to make our society a much bet- Bill Gates, Microsoft co-founder and the philanthropic footsteps. Under Lee Seng 1. Lien Foundation takes responsibil- ter place to live in.” world’s richest man with a net worth of Gee’s management, the Lee Foundation ity for solving niche problems. There Fortunately, there are more philan- US$90 billion (S$123 billion) as of August has made a significant benefaction of S$1 is clarity of purpose and priorities. thropy, more foundations, more philan- 2016 according to Bloomberg Billionaires billion towards education, the arts and 2. Lien Foundation does more and thropy advisors and forums, and more Index, said in a Telegraph interview [1]: the underprivileged as of June 2016. better from ideation to implemen- interest in the field as compared to 2005 “I’m certainly well taken care of in terms Its generous donations have funded tation. There is a fidelity to perfor- when he first joined the Lien Foundation, of food and clothes. Money has no utility scholarships and bursaries as well as de- mance. noted Mr Lee Poh Wah. Acknowledging to me beyond a certain point. Its utility is velopments that benefit local universities. 3. Lien Foundation dares to be differ- this claim was The Straits Times in ‘The entirely in building an organisation and Besides that, it contributed S$60 million ent – they are unafraid to work with new philanthropists in town’; the article getting the resources out to the poorest in to the construction of the National Library unconventional players or use un- reported that there were at least 40 foun- the world.” in 2003, as well as a considerable amount orthodox tools to move their mis- dations and charitable trusts formed by Steven Schwarzman, co-founder and to the National Cancer Centre in 2009, ac- sion. They take sufficient risks. individuals, families and corporations in CEO of Blackstone Group, a global private cording to Singapore Infopedia. He asserted, “Foundations as independ- the last decade. equity and financial advisory firm, point- On the contrary, the Lien Foundation, ent funders of diverse public goods can Nevertheless, Mr Lee remarked that the ed out to Forbes, “As you get older and you founded by the late Dr George Lien Ying help provide alternative solutions and practice of philanthropy in Singapore has have significant resources, you want to Chow, adopts a forward-thinking and temper government orthodoxy.” yet to fulfil its true potential, and there spend more of your time doing interesting radical approach to philanthropy that “Philanthropy is pointless and powerless are few who accorded well the line of EPOCH TIMES OCTOBER 2016 35 WHY PHILANTHROPY ? Martin Luther King’s quote: ‘Philanthro- guru and the most generous philan- thises with children of underprivileged For Mr Azhar, he set up Zaffra Solar Ltd py is commendable, but we must not over- thropist in history, has famously said, “If families and established the S.M. Jaleel as he believes his solar business is doing look the circumstances of injustice which you’re in the luckiest one percent of hu- Foundation, supporting children’s educa- good for Mother Earth. He echoed: “At the make philanthropy necessary.” manity, you owe it to the rest of humanity tion. He has donated US$1.1 million (ap- end of the day, if I were to leave the world, Firstly, most foundations are reticent to think about the other 99 percent.” prox. S$1.5 million) to The Straits Times what is the best gift I can give? To call (me) about their systems and what they intend Buffett, who does not believe in dy- School Pocket Money Fund over the years, the richest man in the world, it is good, but to achieve; secondly, there are insufficient nastic fortunes, has donated US$17.5 according to Forbes. it is better to call yourself someone who industry data and scrutiny by the media billion (S$23.9 billion) via the Gates Apart from the aforementioned indi- contributes back to society. Thus, if you no- as well as academia; and thirdly, work- Foundation as of Jan 2013, and as stated viduals, most of us desire to leave a mark tice, most tycoons create foundations.” ing-class folks are giving away propor- by Forbes, he has pledged 99% of his net or legacy that will ultimately be remem- “People give because it gives some tionately more of their income than the worth to charity.

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