Fondation Philanthropia, a Swiss umbrella foundation set up in 2008 to support the philanthropic activities of Lombard Odier’s private clients, continues to grow, according to its latest annual report.

The foundation said that in 2012 it more than doubled its total donations from the previous year to SFr5 million ($5.4 million) and funded almost 50 organisations.

Humanitarian and social causes formed the biggest proportion of total donations at 47 per cent, followed by culture and education at 37 per cent, and medical and scientific research at 10 per cent.

During 2012, Fondation Philanthropia launched two major partnerships - the first was with the Paris-based Institut Gustave Roussy in the fight against cancer, and the second was with the Palace of Versailles to help restore the Latona fountain and the surrounding parterre.

The foundation also said it had committed SFr13 million for future years, the majority of which is accounted for by the partnerships with the Institut Gustave Roussy and the Palace of Versailles.

"This growth, which reflects the trust donors have placed in us, has enabled us to support an increasing number of beneficiaries ranging from small, grassroot organisations run by volunteers, to high-profile organisations. Since its creation, the generosity of donors has enabled the foundation to support some 50 organisations worldwide, many of which have become long-term partners," said Karin Jestin, member of the board at Fon­dation Philanthropia and head of philanthropy at Lombard Odier.

The next few decades look set to welcome in a new golden age of philanthropy as a result of a surge in high net worth numbers, according to HSBC private bank. Between 2007 and 2012 the number of billionaires in BRIC countries increased by a third and this trend is forecast to continue. Demographics also play an important role as the post-war baby-boomer generation in the West, who have acquired vast wealth, reach retirement and consider how to pass their money on. For more on this story, click here.