First foundation under “full trusteeship” appears in China

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Li Peng, the director-general of the China Philanthropy Service Alliance (公益组织服务联盟), last month signed an agreement for full trusteeship with the Dream One Foundation (梦无缺基金会). According to the agreement, the China Philanthropy Service Alliance will take over all of the five basic components of the Dream One Foundation’s operations, including administration, communication, the informatization system, finance and the secretariat, and help the Dream One Foundation in its all-round daily operations.

The China Philanthropy Service Alliance was set up last September. It is a third-party alliance made up of several service agencies supporting the development of philanthropy, and its first batch of partners includes Share One Consulting (善远咨询), Hi-CSR (益起来社会责任机构), Gongyifang (工蚁坊) and Chang’an Trust (长安信托). The agencies which make up these alliance pride themselves on sharing three common characteristics, in other words Professionalism, Devotion and Innovation. They have expressed their wish for other agencies equipped with these strengths to join them.

Xu Yongguang, the chairman of the Narada Foundation (南都公益基金会), explained that there are a large amount of relevant cases abroad which can be used for reference. He also claimed that this kind of trusteeship can save operating costs and ease the burden on foundations.