Various unprecedented wealthy families are continuously emerging along with the hills and valleys, ups and downs in the modern business era in contemporary China; at the meantime, some of the families are starting to explore “the way of giving”, which accelerates the spring-up of family foundations in China. Nowadays family foundation turns out to be an effective way for wealthy families to participate in charity activities. In this article, we are trying to outline the status of family foundations in China today.
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In recent years, sophisticated business and thought leaders have come to reconnect company success with social progress. An overall framework came into place in 2011 when Michael Porter and Mark Kramer raised the concept “shared value” in Harvard Business Review. It refers to the practices and policies that enhance the competitiveness of a company while advancing economic and social conditions in the communities in which it operates.
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Preschool education, along with a wider definition of Early Child Development (ECD), is critical to human development. Neuroscience and longitudinal studies find that both positive and negative experiences in early life of the first six years including prenatal stage influence the development of the brain and biological systems for life. PISA test scores for 15-year-old students who had received at least one year of preschool education were significantly higher across the developing and developed worlds. Investments in ECD are among the most cost-effective strategies to break the intergenerational transmission of poverty, improve productivity, and sustain competitiveness in the long run.
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“A nobody tries to be himself while a somebody has the entire world in his heart”. The old Chinese saying reveals that the practice of rich businessmen returning the society with wealth is deeply rooted in China’s tradition. Since the reform and opening up, China has witnessed its first generation of entrepreneurs. Now it is time for them to consider how to handle their wealth appropriately.
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After nine months of screening and competition, the “Social Investment Platform” Award Ceremony was held in Millennium Hotel, Beijing on April 22, 2014. With full consideration of Xinhu-Yu Venture Philanthropy Fund’s focus of interest, social enterprise business model and team capacity, the needs and potentials of social enterprises, Xinhu-Yu finally chose “Lang Li Elder Service Center” as investment target. It is the Xinhu-Yu’s third venture philanthropy investment, after Golden Wings and Shaanxi Xixiang Women’s Development Association. Lang Li will be granted a phased investment of RMB 1.5 million from Xinhu-Yu, and will be provided with comprehensive incubation services.
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Usually at the end and beginning of a year, many HR service firms launch their “Best Employer Awards”. As companies are competing for talents, “Employer Brand” seems to become a more influential factor in job hunters’ decision making.
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Cash award from philanthropic contests as a major income source of social organizations, in general, is a pleasant thing. But Kevin Starr, Director of a foundation and also judge of several philanthropic contests, strongly suggested that we “dump it all” in his article published in Stanford Social Innovation Review. The following are his arguments:
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In recent years, people become more passionate about getting involved in philanthropy. However, careful consideration is always needed before launching a charitable project. The effectiveness of a charitable project depends on a series of factors, including a clear mission/goal, a feasible implementation plan, a transparent operational model and a normative evaluation system, etc. Setting up a replicable and sustainable operation and monitoring mechanism is critical to ensure professionalism and social impact of charitable projects.
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Dear VA friends and partners,
On behalf of Venture Avenue, I would like to thank you for your accompany in 2013, and wish you and your family a prosperous 2014.
2013 has been another great year for VA – many great moments to remember. I would like to share with you some key milestones that we have achieved:
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“Warm Finance 2013 CBN•Lujiazui Financial Institution Philanthropy Award” was initiated in April 2013. VA was invited to provide professional support and participate in the whole process including award setting, first-round selection and evaluation of award candidates, etc.
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