More wealthy donors setting up private charity funds

The Community Foundation of Singapore said it has seen the number of individual donors rise from seven in 2008 to 97 this year.
The Community Foundation of Singapore said it has seen the number of individual donors rise from seven in 2008 to 97 this year.PHOTO: CF.ORG.SG

More wealthy people are setting up private charity funds through which they can give away their riches, according to a foundation that helps such individuals set up the funds.

The Community Foundation of Singapore (CFS) said it has seen the number of individual donors rise from seven in 2008 to 97 this year. Each of the funds must have at least $200,000.

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A version of this article appeared in the print edition of The Sunday Times on May 27, 2018, with the headline 'More wealthy donors setting up private charity funds'. Print Edition | Subscribe