Next Generation Philanthropists (NGPs) are poised to inherit the legacy of their families‘ philanthropy and respond to the needs of modern...
Family, philanthropy and businesses are symbiotic in India. The country has the highest percentage share of family businesses in Asia, accounting for 67% of total listed companies with market capitalization of more than USD 50 million. With a growing trend towards more professionalism and separation between family and corporate philanthropy, Dasra’s report, Beyond Philanthropy, explores the evolution, landscape and key characteristics of philanthropic foundations in India, and highlights key approaches to improving impact through philanthropy.
There is a lack of knowledge sharing, best practices and replicable models between foundations in India, which limits its scope and contributes to the lack of knowledge of credible non-profits, aversion to risk, lack of collaboration between stakeholders, and dearth of innovative models of giving. Goals and strategies are largely fragmented, and too much autonomy is hindering scale, and the building of sectors in the development space.
To build the philanthropy sector and achieve greater impact, Beyond Philanthropy recommends forums for open dialogue about critical philanthropic issues, successful models and impact, sharing learning of replicable models through documentation of best practices, building the ecosystem of strategic philanthropy by funding academic institutions and best practice reports, and educating and building capacity of non-profits to deliver high-quality results at scale.