Reports on the ground and statistics show that Singaporeans are getting richer, with its 11.4% families holding investable assets of over $US 1 million giving it the world’s highest concentration of millionaires. But also on the increase is its citizens’ generosity: donations to Singapore’s charitable organizations went from S$381 million (US$279 million)  in 2001 to S$687 million in 2009, and even volunteer activity rates increased from 9.3% in 2000 to 16.9% in 2008 (the latter figure represents 45 million hours donated by people of all income brackets).

Lee Poh Wah, CEO of the philanthropic Lien Foundation, says “philanthropic money is like manure. It smells if you have too much of it in the bank.”

“Its intended use is to fertilize and support ideas that can improve society, so we should spread it wisely.”

source & full article: Straits Times