The Hong Kong &  Macau Taiwanese Charity Fund is a tax-exempt charitable organization under section 88 of the Hong Kong Inland Revenue Ordinance and was established in 2004. In order to spread love, encourage good deeds, promote filial piety, correct the social atmosphere and establish a peaceful society, the Fund established the “Compassion Award” in 2006, to select models of selfless love from around the world, recognize international charity models who are passionate about public welfare, and to spread the seeds of love to every corner of the world, hoping that “Drops of love converge to form an ocean”.

Since the launch in Hong Kong, the Award has collected donations from all sectors of the community, gradually realizing the goal that compassion knows no boundaries, races or religions. The 5th Compassion Award 2010 crossed the Taiwan Strait, with Taiwan as the first stop outside Hong Kong and Macau; The 10th Compassion Award 2015 was extended to Mainland China; and the 15th Compassion Award 2020 was extended to overseas Chinese region, with a total of eight winners (including individuals/corporate charities, charitable organizations)  each year. Starting from this year, the prize money for each awardee of the 20th and 2025 awards will be increased to US$200,000, which will be fully utilized for charitable purposes in the participating regions, aiming to benefit more disadvantaged groups.

港澳台灣慈善基金會為香港稅務條例第88條豁免繳稅慈善機構，2004年成立。本會為傳揚愛心、鼓勵善行、弘揚孝道、匡正社會風氣、建立祥和社會，2006年創立「愛心獎 Compassion Award」，甄選全世界無私奉獻的愛心楷模、表彰國際上熱心公益的慈善典範，將愛心種子撒播華人世界每個角落，冀「愛心水滴‧匯流成海」。

本獎自香港啟航，廣集社會各界的捐款，逐步實現愛心無分國界、種族、宗教的目標。第五屆・2010跨越海峽，以台灣為香港及澳門以外的第一站；第10屆・2015擴展至中國內地；第15屆・2020起甄選範圍延伸至全球華人，每屆共8位得獎者（含個人/法人慈善公益團體）。今年起，第20屆・2025每位得獎者的獎金提升至美金20萬元，並將全額用於參選地區公益慈善，旨在造福更多弱勢族群。