A number of factors have combined to draw renewed attention to the philanthropy section: increasing private fortunes, the appearance of younger, more dynamic entrepreneurs, growing awareness of social injustice due to the globalisation of news, the adoption of the Millennium Goals and wide-based return to traditional values in the wake of the 2008 financial crisis.
In order to promote and facilitate private engagement in philanthropy, the Luxembourg government reformed the tax rules relating to charitable donations and supported the creation, in 2008, of the Fondation de Luxembourg.
The Fondation de Luxembourg is an independent, not for profit organisation which acts as an intermediary between potential donors, on the one hand, and philanthropic projects in Luxembourg and around the world on the other.
By providing an umbrella foundation structure, advice and project analysis, the Fondation guides donors – be they individuals or companies, from Luxembourg, Europe or beyond - towards the engagement of their choice and provides follow up and performance measurement on the impact of their projects.
Thus, the Fondation offers its clients a simple, rapid solution for the structuring of their long term philanthropic engagements.