A Smarter Impact

While philanthropic activity is on the increase, doing good can sometimes unwittingly leave a negative impact. Non-profit think tank Milken Institute’s Richard Ditizio shares with Grace Ma why a broad perspective and disciplined corporate governance are crucial to making a lasting impact on societies

- Grace Ma

IN THE LAST 20 YEARS, THE philanthropic landscape has shifted phenomenally, with capital markets, governments and non-profit sectors coming together more than ever before to advance social, economic and environmental change in ways never before thought possible. Taking stock of how Asia has changed since the 1997 global financial crisis and forecasting the challenges and opportunities that will shape its next two decades is the focus of the Milken Institute’s annual Asia Summit in Singapore, which will be held on September 14 and 15 at the Four Seasons Hotel.

Established in 1991 by businessman philanthropist Michael Milken, the Milken Institute is a non-profit and non-partisan think tank based in the US, and is widely recognized for its rigorous data-driven research and efforts in connecting the business and civic sectors to solve the world’s most pressing social and economic challenges. It has eight centres in the US, the UK and Singapore focusing on access to capital, job creation and health, while its Singapore-based Asia Center launched in end-2012.

Richard Ditizio, president and chief operating officer of the Milken Institute, says that donors are now demanding more accountability for their giving. “Today, people are looking at their philanthropic portfolio in the same way they do their investment portfolio. Beyond holding organizations accountable for the stewardship of these gifts, donors also want to understand what the returns are,” says Ditizio, who joined the Milken Institute in 2012 after a 25-year career in banking, including being CEO of Citi Private Bank and heading its North American ultra-high net worth practice.