Opinion
Eileen Heisman: Donor advised funds are a flexible tool that can adapt to changing giving interests
wavy line banner

Opinion

Opinion

Eileen Heisman: Donor advised funds are a flexible tool that can adapt to changing giving interests

Picture of John Doe
John Doe
A woman confidently delivering a speech at a podium, standing before a sign, conveying her message with conviction and authority.

(Excerpts from a keynote speech by Eileen Heisman, President and CEO, National Philanthropic Trust delivered at the CFS Philanthropy Forum 2019)

When I was here in Singapore a decade ago as part of the Community Foundation of Singapore’s (CFS) international advisory committee, the idea of being involved in the global launch of a community foundation was so exciting to me. Everyone here was really eager to learn. They wanted to have impact. I knew CFS was going to set its own path.

Over 22 years ago, I was sitting in a dark, private cubicle trying to figure out what to do with this brand new charity I was part of. Today, National Philanthropic Trust (NPT) – which is the largest independent donor advised fund (DAF) administrator in the United States – has raised US$13 billion in charitable contributions and currently manages US$7.4 billion in charitable assets. In recent years, we’ve started making global grants of around US$700 million to over 75 countries.

I see a lot of similarities between CFS’s journey and my time in that small cubicle. CFS has raised S$130 million and given away S$70 million. With this incredible talent, opportunity and resources you have here, I believe there’s so much more CFS can grow as a community foundation.

What compels a potential donor to act? I’ve spent a lot of time thinking about this question throughout my career working with donor advised funds. Just as every person comes to this earth with different gifts and backgrounds, donors have vastly different philanthropic goals. I’ve had the privilege of getting inside the thinking of donors and understanding what excites them about philanthropy. One of the biggest moments in my career at NPT was when a donor from New York City donated US$200 million to us. He was an early adopter and one of those people who saw opportunity.

I like to say donors don’t give to us, they give through us. Donor advised funds are flexible. They are relatively inexpensive. They can meet and adapt to changing interests. If you were interested in a cause when you were younger and that changes as you grow older, you’re not wedded to that particular cause because you can shape the fund according to your preferences. Philanthropy is also about legacy. A DAF is a tool you can spend down over your lifetime or you can pass it down to your children.

It’s one of the reasons why donor DAFs are the fastest growing philanthropic tool in the United States. The number of DAFs has doubled in the US over the last five years. In addition to Singapore, there is growing interest in DAFs in Asia, from China, India, Hong Kong to Japan. As a philanthropic tool, I believe DAFs are going to become more and more popular.

If I had to give a piece of advice to new donors: when you’re getting started with giving through DAFs, it’s important not to overcomplicate the process. Start simple. Find two or three causes you really like. Find one or two good charities in each of those categories, and support those charities over three to five years.

With any social issue, nothing gets solved within one year. In the social sector, we learn about solutions to existing problems from trying new things. Don’t be afraid to fund solutions that are new because it’s the only way we learn. It’s as important to fund failure as it is to fund success.

One of the wonderful things about being part of a community foundation is that it truly is a way to make the world a better place. Doing it with partners and the community’s collective effort makes the journey so much more enjoyable than doing it alone.

Eileen Heisman
President and CEO
National Philanthropic Trust

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Lorem ipsum dolor sit amet consectetur adipiscing elit dolor

The competition was organised by City Harvest Community Services Association and received support from FUN! Fund, a Community Impact Fund jointly established by the Community Foundation of Singapore and the Agency for Integrated Care, with the aim of addressing social isolation among the elderly.

Senior Minister of State, Ministry of Communications and Information & Ministry of National Development Mr Tan Kiat How attended the event. He encouraged the elderly to stay physically and mentally well, as well as urging them to participate in community activities and enjoy their golden years together.

Learn more about FUN! Fund at https://www.cf.org.sg/fun-fund/.

 

The programme provides the children with a non-threatening platform to connect with peers and have positive conversations. In addition, it exposes them to different people who can assist to broaden their perspectives.

L.S., a volunteer with the Reading Odyssey programme @ Spooner Road

中心“常胜将军”胡锦盛:比赛限时反应要快

现年92岁的胡锦盛是最年长的参赛者。自2017年退休后,他几乎每天都到活跃乐龄中心报到,从此爱上了玩拉密,每次可玩上三个小时,在中心是“常胜将军”。

Picture of admin bluecube
admin bluecube

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Events

Donor Learning Trip Series: The Art of Mental Well-Being

Picture of John Doe
John Doe

This initiative is part of CFS’s Donor Learning Trips, a series of engagement opportunities that enable donors to personally connect with charities and gain insights into how they support communities in need.

On the afternoon of October 19, 2023, 17 of our donors visited the Singapore Association for Mental Health (SAMH) and learned about the work they do. 

Established in 1968, SAMH has been a stalwart in Singapore’s mental health community, improving the lives of persons with mental health issues through rehabilitation and reintegration.  

SAMH Space2Connect is a newly established integrated wellness centre that provides mental health services to individuals aged 10 and above, families, and communities. The centre aims to empower clients, improving their well-being and walking with them on their road to recovery; while also serving as a collaborative hub for partners to come together and strengthen community mental health and resilience.

Confronting the realities of youth mental health

SAMH strives to destigmatise mental health amidst rising numbers of youths requiring support, encouraging them to seek help. Statistics highlight the severity of the issue, with suicide being the primary cause of death among 10 to 29-year-olds in Singapore in recent years. According to Samaritans of Singapore (SOS), out of the 476 suicides in 2022, 125 involved those in this age group. This is 13 more than in 2021 and the highest since 2000, which marks SOS’ earliest recorded data.

A substantial number of youths admit they are grappling with mental health symptoms, emphasising the pressing need for support. A recent study conducted by the National University of Singapore reported that one in 10, or 12% of adolescents met full diagnostic criteria for having at least one current mental health disorder. About one in three youth in Singapore reported internalising mental health symptoms such as depression, anxiety and loneliness, with those aged 14 to 16 reporting more serious symptoms. Meanwhile, roughly one in six young people said they experienced externalising mental health symptoms, such as hyperactivity, rule-breaking and aggression.

Through the afternoon, donors heard beneficiaries tell their stories and toured the space. They learnt how their contributions have supported youths particularly through SAMH YouthReach, which offers psychosocial support and recovery programmes for youths aged 12 to 21 facing emotional, psychological, and psychiatric issues. Mental health recovery is often not linear, and SAMH provides ongoing support for clients beyond treatment completion.

“It was inspiring to learn how our giving was making a difference to the lives of the youths supported by SAMH YouthReach, and to understand more about the good work that SAMH is doing,” said a donor from the CKY Foundation, who has been giving with CFS since 2022 after being introduced by the Economic Development Board. 

“CFS has helped us work towards our philanthropic goals by making an impact across a range of causes and charities through the insights provided by our fund’s dedicated philanthropy advisor. It is heartening to witness the impact of one’s philanthropy in person, and to meet the people that you have helped.”

A place for community and self-expression

In addition to learning about SAMH’s programmes and services, donors had a chance to experience a therapeutic art activity for themselves as they joined two young adult clients of SAMH YouthReach in an interactive hands-on session. Through the fun, laughter and unleashed creativity, they discovered the potential of creative pursuits as a tool for promoting mental wellbeing.

With funding support, SAMH plans to expand their outreach further, with initiatives focusing on the impact of sleep, nutrition and movement on mental health.

We are grateful for the opportunity to meet the CFS donors, showcase SAMH facilities and programmes to them, and facilitate direct engagement with our beneficiaries. Their contributions empower us in our mission to help and support individuals in our community who face mental health challenges

CFS would like to express our deep appreciation to SAMH for the remarkable work that they do, and acknowledge our donors for their invaluable support. To find out more about how you can contribute, visit https://www.cf.org.sg/giving/ways-to-give/

References

https://www.sos.org.sg/pressroom/highest-recorded-suicide-numbers-in-singapore-since-2000

https://medicine.nus.edu.sg/wp-content/uploads/2023/04/PRESS-RELEASE-YEAR-Study-26APR2023-IMMEDIATE-RELEASE.pdf 

In 2023, CFS proudly marks our 15-year milestone on a journey dedicated to empowering donors to create meaningful impact. Since its establishment in 2008, we have received over S$292 million in donations and disbursed over S$157 million in grants to support more than 400 charitable partners in Singapore. Join us in shaping a brighter future for worthy causes by becoming a valued donor. Your contribution can make a substantial difference.

Picture of admin bluecube
admin bluecube

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Events

CFS wins Charity Transparency Award for the second time

Picture of John Doe
John Doe
a person passing another person an award

It is important that we continue to work together to foster a safe giving environment for Singaporeans, so that we can support the causes we believe in. So that Singaporeans can step forward to support the causes that they believe in with a peace of mind.

For the second time, the Community Foundation of Singapore (CFS) is greatly honoured to have won the Charity Transparency Award at the Charity Transparency and Governance Awards 2022. The accolade, given out by the Charity Council, recognises CFS’s exemplary disclosure and transparency practices. 

CFS was one of 85 charities that received the Charity Transparency Awards this year. This is the highest tally since the awards were launched in 2016 and is an encouraging sign that more charities are implementing better transparency practices. The record number also indicates that disclosure and accountability standards are strengthening in Singapore’s philanthropic sector. 

The ceremony was held on 9 November 2022 and Mr Edwin Tong, Minister of Culture, Community and Youth & Second Minister for Law graced the occasion. Our Chairperson, Ms. Christine Ong, received the award from the Commissioner of Charities, Mr. Desmond Chin. Organised by the Charity Council, the Charity Transparency and Governance Awards lauds nonprofits for their stellar efforts in upholding governance and building public trust in the sector. 

At CFS, transparency is a critical element of the philanthropic equation. “Transparency builds trust and ultimately leads to better engagement and giving,” says Catherine Loh, CEO of CFS. “We believe in being open about our organisation, performance, priorities, and impact and communicating this clearly with all stakeholders. As a leading foundation and grantmaker, CFS is grateful to be a repeat winner of the Charity Transparency Award. We will continue to strive for the highest standards of transparency to honour the trust placed in us by our donors and to continuously improve to better serve our charity partners, funders, and the wider public,” she adds. 

Since our inception in 2012, good corporate governance has been a central pillar of our operations and management. CFS is governed by a Board of Directors comprised of experienced and dedicated professionals from the private, public, and social services sectors. The Board ensures that CFS’s work is effective and responsible, monitors outcomes, and is accountable to donors and regulators. 

As an organisation that bridges donors and charities, CFS is committed to uplifting standards and sharing knowledge within the philanthropic ecosystem in Singapore. We regularly make available information about our activities, programmes, operations, audited financials, Board, and management through our annual reports, website, and social media pages. 

CFS is thankful to our Board of Directors for their expert guidance and leadership, which has helped transform us into a leading philanthropic intermediary in Singapore. We would also like to thank our many partners, our growing community of donors, and our supporters for their continued trust in our work to make giving more accessible and impactful.

Picture of admin bluecube
admin bluecube

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

News

Secure And Impactful Philanthropy: CFS Clinches Cyber Essentials Mark

We are proud to announce that CFS has been awarded the Cyber Essentials Mark, a cybersecurity certification by the Cyber Security Agency of Singapore. This recognition highlights our commitment to operational excellence and data security, essential for protecting donor information and other sensitive data.

CFS CEO Catherine Loh receiving the Cyber Essentials Mark from Director of CSA Veronica Tan, Hoi Wai Khin from RSM, and Baljit Singh from GICG.

We are proud to announce that CFS has been awarded the Cyber Essentials Mark, a cybersecurity certification by the Cyber Security Agency of Singapore. This recognition highlights our commitment to operational excellence and data security, essential for protecting donor information and other sensitive data.

The Cyber Essentials Mark acknowledges organisations with robust cyber hygiene practices, safeguarding systems against cyber-attacks. Other notable recipients of the Cyber Essentials Mark are SISTIC Singapore, M1 and Capella Hotel.

At CFS, trust and transparency are at the core of everything we do. Achieving the certification reflects our dedication to maintaining the highest standards of data security, to provide peace of mind to our donors and partners. 

Protecting donor and partner information is crucial to our mission of secure philanthropy. Trust is essential in our relationships with donors, charities, and partners, and we are delighted to receive this award.

Opinion

Sustainable Philanthropy Matters: The SDGs in SG

Picture of John Doe
John Doe
poster about sustainable philanthropy: the SDGs in SG

In this three-part series ‘Sustainable Philanthropy Matters’, we explore the surprisingly intimate relationship between philanthropy and sustainability and how the practice of one can in fact, lead to the advancement of the other. Both of these issues are close to our hearts here at CFS and we want to share how our philanthropy can help preserve our planet, our communities and our future.

In our previous article, we took a brief look at the history of philanthropy and sustainability. Here, we will examine the relatively newer Sustainable Development Goals (SDGs) and their paramount relevance and importance today. The SDGs were adopted as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. Additionally, the SDGs could and should serve as a guide to the next steps in Singapore’s social, environmental and even philanthropic evolution. Donors can create a greater impact with their giving by ensuring alignment with the SDGs.

Introducing the SDGs

When it comes to the 3P’s, People has long been seen as the more important P as compared to Planet (let us not talk about Profit!).

Of the eight Millennium Development Goals established in 2000 by the UN, only one was environment-related. Even in the first-ever Global Philanthropy Report, published relatively recently in 2018 by the Hauser Institute for Civil Society (Johnson, 2018), education was the most popular cause of choice for foundations around the world, with 35% focusing on at least one aspect. Health and social welfare also featured largely as priorities. Only one region, Latin America, had environment and animals as a focus and even then, at only 23.8%.

The 17 SDGs, birthed in 2015 at COP 21 in Paris, catapulted the idea of sustainability into everyone’s consciousness in vivid colour. It illustrated that sustainability encompasses many facets of society as well as the natural environment, with an infinitely long-term view of providing for future generations.At first glance, many of the SDGs seem to talk about social aspects anyway, but the beauty of the SDGs is that each goal is inextricably linked to several others. For instance, an initiative ensuring that farmers get paid decent wages while tapping on technology to grow food that is organic and pesticide-free aligns to SDGs 1, 2, 3, 8, 9 and 12.

SDGs in Singapore

Delving deeper into the 169 targets of the SDGs, one realises that quite a few of them may not seem to apply to Singapore. As a highly developed and modern country with a high GDP, 100% literacy rate and no real primary industries like mining, forestry and agriculture, we can claim to have already met many of the SDGs’ targets.However, it is the spirit of the SDGs at which we should look, and it is then that we realise that there is definitely more that we could do.

Let us examine SDG 1, No Poverty. Singapore claims that the first two indicators do not apply as we have no poverty line, national or international (Department of Statistics Singapore, 2021). Yet, it is clear that cases of relative poverty still exist in Singapore (Ng, 2018). The problem can be simply explained by the high cost of living in Singapore (ECA International, 2021), our high Gini coefficient (World Population Review 2021) and the majority of the households having an income below the national average (Dayani, 2021) but the fact remains that the problem exists, and we need to address it within the Singaporean context.

Thankfully, besides the Government’s efforts to reduce social inequality (Lai, 2019), Singapore has had a long history of philanthropists (Ooi, 2019) who have seen to the needs of their country’s people through their generosity. Fast forward to today, and even the man on the street can be a philanthropist, with easy, direct access to many charity channels and donation portals online.

Everyone Has a Role

Ultimately, this democratisation of philanthropy is a good thing. Accomplishing the vision of “peace and prosperity for people and the planet, now and into the future”, requires the concerted achievement of each and every SDG.

Given the intricate interconnectivity of the SDGs, tackling any project that aims to deal with them would be a daunting task if attempted alone. Just as social issues are complex problems requiring multifaceted approaches by multiple stakeholders, so it is with the SDGs.

The 17th SDG, Partnership for the Goals, actually posits that we all have a role to play. Governments and agencies can only do so much. It is recognised that corporations and individuals alike all have responsibilities towards achieving the environmental growth and strengthening of Singapore (and the planet too, come to think of it). As the late philosopher McLuhan said: “There are no passengers on spaceship Earth. We are all crew.

Eyes on the Prize

In the previous article of this series, we shared that everyone, whether individual, group or organisation, had reasons to give. It is important to avoid whitewashing or greenwashing (basically, paying only lip service about being philanthropic). Giving back to the community and/or the environment should not be about meeting reporting requirements or ingratiating oneself with the local people.

It can, admittedly, be tricky juggling one’s desire to do a particular act of charity with what said charity might actually want to achieve, or even what the eventual care recipients might really require. With over a decade championing philanthropy in Singapore, CFS deeply understands this need for balance between the desires and objectives of the donors, charities and care recipients. Yes, even if those care recipients are the flora and fauna around us. Visit here to find out how you can add value for People and Planet, today and tomorrow.

To learn more about CFS’s Corporate Sustainability efforts, please read more here.

To read the other 2 stories in the ‘Sustainable Philanthropy Matters’ series, please click below:

This article was written by Adam, a Principal Consultant with CFS and an experienced sustainability practitioner. He is an advocate for sustainable practices. His colleagues are still wondering how his monthly household utilities bill is only around $70.

Disclaimer: The opinions expressed in this publication are those of the author. They do not purport to reflect the opinions or views of CFS or its members.

References

  1. Department of Statistics Singapore. 2021. Government of Singapore. Singapore. https://www.singstat.gov.sg/find-data/sdg/goal-1
  2. Ng, Cindy. 2018. Commentary: So this is what the face of poverty looks like. Channel News Asia. https://www.channelnewsasia.com/commentary/this-is-what-the-face-of-poverty-inequality-looks-like-804881
  3. ECA International. 2021. Singapore drops in global Cost of Living rankings, but remains among top 10 most expensive locations. https://www.eca-international.com/news/june-2021/singapore-drops-in-global-cost-of-living-rankings
  4. World Population Review. 2021. Gini Coefficient by Country. https://worldpopulationreview.com/country-rankings/gini-coefficient-by-country
  5. Dayani, Dinesh. 2021. What is Singapore’s Average Household Income And Why It Is Different From The Salaries We Earn? Dollars and Sense. https://dollarsandsense.sg/singapores-average-household-income-different-salaries-earn/
  6. Lai, Lynnette. 2019. Parliament: Inequality has many causes and needs to be tackled practically, not ideologically, says Desmond Lee. The Straits Times. https://www.straitstimes.com/politics/parliament-inequality-has-many-causes-and-needs-to-be-tackled-practically-not-ideologically
  7. Ooi, Yu-lin. 2019. Singapore’s Earliest Philanthropists 1819-1867. Asia Centre for Social Entrepreneurship & Philanthropy. https://bschool.nus.edu.sg/acsep/wp-content/uploads/sites/19/2019/08/PA-WP8-Singapores-Earliest-Philanthropists-1819-1867.pdf
Picture of admin bluecube
admin bluecube

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Trending Stories

Scroll to Top