University of St Andrews Hong Kong Foundation
Global Philanthropic is delighted to have participated in the launch of The University of St Andrews Hong Kong Foundation recently, a vibrant and enjoyable event that was attended by prominent Asian alumni and St Andrews leadership.
Establishing a Hong Kong foundation is an excellent way to catalyse Asian giving in a tax effective way, as well as demonstrating an organisation’s commitment to Asia. We’re pleased to have been able to work with St Andrews to establish their foundation through our Hong Kong office.
With more billionaires in China that America, the rise and rise of high level Chinese giving clearly cannot be ignored. Global institutions like St Andrews are increasingly looking to establish a presence in Asia and demonstrate to existing and potential supporters that they value them and have an international outlook. However, realising this ambition is not always simple, particularly for organisations that are conservative and risk averse by nature.
Many higher education institutions fit this profile, particularly in continental Europe where there is little or no modern history of philanthropic support, and an over-reliance on the state for funding and investment. As the economic paradigm has shifted over recent years and the state has been rolled back across most developed economies, developing a significant philanthropic income has never been more important.
With the university sector becoming more international every year and many students looking well beyond their borders when choosing where to study, it is more important than ever for institutions to internationalise. This not only helps attract students, but also effectively maintains and supports their alumni base. Establishing a Hong Kong foundation can be a powerful element of an internationalisation strategy, as St Andrews and many other Global Philanthropic clients have discovered.
Global Philanthropic is an international philanthropic consultancy offering advice and strategy on giving and fundraising. We offer a bespoke Hong Kong Foundation service, and have established and manage a number of foundations on behalf of our clients.