Jockey Club announces Institute of Philanthropy - bringing together local, regional and global thought leadership for the betterment of society

HONG KONG, Sept. 12, 2023 /PRNewswire/ -- The Hong Kong Jockey Club announced the establishment of the Institute of Philanthropy ("IoP") at the opening of the Philanthropy for Better Cities Forum 2023 today (11 September) at the West Kowloon Cultural District in Hong Kong.

Convened by The Hong Kong Jockey Club Charities Trust, the third Philanthropy for Better Cities Forum, brings together close to 70 prominent speakers and 1,600 thought leaders and delegates from around the world. Among them are philanthropic, academic, business, social sector and government leaders. The opening ceremony was officiated by Chief Executive of the Hong Kong Special Administrative Region John Lee and Club Chairman Michael Lee.

With the mission of becoming a global "think-fund-do" tank for China and Asia, the IoP is dedicated to promoting philanthropic thought leadership at local, regional and global levels together with fellow foundations, philanthropic stakeholders and other institutions. Grounded in the East, it will provide a convening platform to promote the common good. The Club has committed an initial sum of HK$5 billion to fulfil this mission.

During the opening ceremony of the Philanthropy for Better Cities Forum, Chief Executive of the Hong Kong Special Administrative Region John Lee said, "Hong Kong is determined to play an increasingly important role in advancing philanthropy and the social impact it can make. We want to create a fairer society for everyone. It helps that we have The Hong Kong Jockey Club Charities Trust to turn to, for organising the Philanthropy for Better Cities Forum, and a great deal more." He added, "The establishment, today, of the Institute of Philanthropy will, I am confident, go a long way towards realising the Hong Kong SAR Government's goal of building Hong Kong into a leading international centre for philanthropy."

Club Chairman Michael Lee said: "We aim to establish the IoP as a dependable source of philanthropic knowledge and to leverage its resources to strengthen the professionalism of funders in the Hong Kong SAR, nationwide, throughout Asia and beyond by providing sector-wide infrastructure and standards development. This in turn will support and complement the HKSAR Government's policy priorities, as well as contribute to national development".

The IoP will focus on:

• Connecting and Convening: Build a platform that brings together thought leaders, philanthropists and key stakeholders to learn about and exchange philanthropic best practices while actively engaging in local, regional and global events to bridge stakeholders across different spectra and levels all around the world.
• Synthesising and Sharing: Bring together fellow foundations and other institutions through various means, such as joint publications and case studies, to consolidate and disseminate knowledge as well as co-create and co-fund projects.
• Building Professional Capacities: Develop programmes to enhance the skills and capacities of professionals in the philanthropic and non-profit sectors. This includes strengthening the philanthropic industry, particularly in Hong Kong and other Greater Bay Area cities.
• Commissioning and Supporting Research: Collaborate with leading universities, institutes, foundations, think tanks and philanthropic stakeholders to conduct and commission research around issues pertinent to the sector.

The inaugural event of the IoP, the Foundations Circle on 13 September, will be a gathering of global foundations at Tai Kwun – Centre of Heritage and Arts to explore collaborative efforts. Over 50 foundations will attend the event.

The Club's support for the Philanthropy for Better Cities Forum, like all of its charity initiatives, is made possible by its unique integrated business model through which racing and wagering generate tax and charity support for the community.

The Hong Kong Jockey Club

Founded in 1884, The Hong Kong Jockey Club is a world-class racing club that acts continuously for the betterment of our society. The Club has a unique integrated business model, comprising racing and racecourse entertainment, a membership club, responsible sports wagering and lottery, and charities and community contribution. Through this model, the Club generates economic and social value for the community and supports the HKSAR Government in combatting illegal gambling. In 2022/23, the Club returned a total of HK$35.9 billion to the community. This included HK$28.6 billion to the HKSAR Government in duty, profits tax and Lotteries Fund contributions and HK$7.3 billion in approved charity donations.  The Club is Hong Kong's largest single taxpayer and one of the city's major employers. Its Charities Trust is one of the world's top ten charity donors. Please visit www.hkjc.com.

Photos can be downloaded from the website of The Hong Kong Jockey Club (www.hkjc.com/english/corporate/corp_news.asp).