WiseGiving is a full-service organisation that provides customised giving solutions. We can do as much – or as little – as you wish. A selection of the typical services we provide donors is presented here, but please contact us to discuss how best we can help you fulfil your philanthropic goals.
Foundation Strategy and Governance
Effective philanthropy starts with a solid plan. Without a plan, giving can be haphazard and unfocused. Eventually, you might have given a lot but not achieved much. In contrast, a strategic plan helps you define a philanthropic vision and mission, identify focus areas, as well as set measurable and realistic targets. Besides, philanthropy can only be lasting if a foundation has a sustainable decision-making process. WiseGiving can help you design a governance structure uniquely customised to your family’s or company’s traditions and culture.
If you are just starting on your philanthropic journey or if you feel that your philanthropy is not yet at its full potential, it is often helpful to hold a strategic planning retreat for stakeholders to contribute their views as to what the foundation should aspire to. Our process starts with one-on-one interviews with all relevant stakeholders. For families, these stakeholders might be family members and close family friends. For companies, it might involve senior executives or Board members. Then, WiseGiving will compile a confidential memorandum that distils all of the interview findings to codify areas of agreement and other areas that may require further discussion at the retreat.
The retreat itself usually lasts about 1-2 days with WiseGiving acting as a facilitator to ensure that everyone’s views are heard. Throughout the process, WiseGiving will also share best practices with you. The process finally culminates in a memorandum that outlines decisions made at the retreat and concrete next steps so that you can start giving programmes and vetting projects.
A plan is only as good as its implementation. Now that you have a vision in mind, WiseGiving will transform your idea into concrete projects to fund.
WiseGiving will codify your ideas and goals into a “Request for Proposals”, which will be distributed to all relevant nonprofit organisations. We will also help you design vetting criteria and a scoring mechanism. Either together with you or on your behalf, we will conduct site visits or interviews with applicants so that we can craft and refine the project to achieve the mutual goals of both you and the grantee. Throughout the process, we will also prepare all the necessary paperwork to document all grants. WiseGiving can also help you monitor or evaluate your project to ensure it is meeting all of the agreed objectives.
Project Monitoring and Evaluation
How do you know if the project is proceeding according to plan? Even if it a project is according to plan, is the project achieving the objectives of you the donor? WiseGiving designs evaluation methods to help you assess the impact of your giving.
In particular, WiseGiving has, in collaboration with The University of Hong Kong, developed a framework known as Social Impact Assessment aimed at measuring and analysing the intended and unintended social consequences of a project. With a thorough understanding of the effects of your project on the community, you will be better informed to further increase your impact in future grants.
WiseGiving works with Bank of East Asia (Trustees) Limited to manage a trust with charitable status under Section 88 of the Inland Revenue Ordinance, so that donations and grants will be handled professionally and expediently. Individual donors or groups of donors may make deposits according to their own giving plan, sparing them of the hassle of forming and maintaining a separate legal entity. Once a donation has been made to the charitable trust, a tax-deductible receipt will be issued.
Donors may make grants to any charitable organisation, no matter whether it is based in Hong Kong or overseas. When a donor is ready to make a grant, he/she simply fills out a Grant Recommendation Form. The grant will be made to the donor’s recommended organisation as soon as it passes the required due diligence procedures.