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Giving through the generations
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Giving through the generations

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Increasingly, individuals and family businesses are consciously looking at ways to create positive social impact through philanthropy – but in today’s world, what does creating a legacy mean from divergent perspectives, from individuals to families, from parent to child?

Last November, the CRIB x CFS Legacy and Impact cocktail event brought two prominent families, with extensive histories of giving, together with philanthropists and social capital investors to reflect upon these questions.

Moderated by Patsian Low, the panelists included Richard Eu, Chairman of Eu Yan Sang and his daughter Rebecca; and Keith Chua, Executive Chairman of ABR Holdings (and CFS board member), and his daughter Sharon.

To kick off the evening, Catherine Loh, CEO of the Community Foundation of Singapore (CFS), reflected upon the challenge facing families today. “When it comes to creating a family legacy, it’s about understanding how to bridge the different concerns and interests of each generation, and trying to align giving to key values,” she commented.

While members of the older generation might be more focused on passing on family values, Catherine observed, the younger generation is keen to explore new approaches to giving. “Many of our next generation donors have a strong social consciousness and feel they don’t need to wait until they’re richer, older and retired to start thinking about giving back,” she said.

Though her family has traditionally supported education and healthcare, Rebecca Eu struck a chord when she shared how she started social enterprise Love, Mei in a vastly different field, helping victims of human trafficking in the Phillipines. “I don’t think legacy is limited to your blood ties,” she proposed, “Instead, legacy moves on with the project you adopt and the people that you work with.”

Reflecting today’s shift towards strategic philanthropy, Sharon Chua shared how her professional experience with philanthropy advisory has empowered her to become a better steward of her family’s wealth. “I learnt how to evaluate impact, the sustainability of projects, and how to forage good partnerships, and that helps with my own family’s philanthropy. I’ve always believed philanthropy is something you need to be personally engaged and committed to,” she shared.

One audience member posed a question to both fathers on how they would manage their children’s future giving decisions to avoid conflict.

Richard espoused offering broad guidelines to one’s children and suggested “storytelling” as a way of passing on family values. “When your family is used to hearing stories, such as why your great grandfather did certain things, it becomes ingrained in your family’s DNA. The legacy you leave behind is not about having a building or place named after you, but the lives that you impact.”

Keith reflected on his role as a trustee for the giving of earlier generations, and proposed older family members play a key role in “setting mechanisms in place” for the next generation.

Keith said, “CFS provided us with an avenue to create a fund to leave something behind for the next generation and share it with our wider family. Under this structure, the funds will carry on for a certain period of time. Once you’ve set certain things in place, you can bring the next generation along for the ride, and trust them with the responsibility when it’s their turn.”

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CFS is 3rd largest philanthropic foundation in Singapore

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They were immigrants who became titans of industry and philanthropists in their own right. Now the legacies endowed by and named for some of Singapore’s richest tycoons – the Lee, Lien and Shaw foundations – continue to be some of the biggest givers to charity here.

All three were among Singapore’s 10 largest philanthropic foundations, according to a report released last month.

The report found that the 10 spent a total of $189 million in their latest financial year to support a range of causes, from community service to education, to disaster relief.

The study by Soristic Impact Collective, a consultancy firm, said the Lee Foundation, founded by the late rubber tycoon Lee Kong Chian in 1952, topped the list.

In its latest financial year, it spent $52.8 million, of which $52 million was given out in grants and donations.

The Lee Foundation is said to give to a wide variety of causes, including education, healthcare and social services.

Temasek Foundation Innovates, one of six Temasek foundations, was second on the list. In its latest financial year, it had an annual expenditure of $29.2 million, of which $28.6 million was given out in grants and donations, according to the report.

Taking third place was the Community Foundation of Singapore, which spent $23.3 million in its latest financial year. Of the sum, $20.2 million was given out in grants and donations.

Donors pledge at least $200,000 to set up a fund with the foundation, which then manages the money, advises donors on various needs in the community and disburses the funds according to the donors’ wishes.

Ms Pauline Tan, principal consultant of Soristic Impact Collective, said the study is the first to rank philanthropic foundations in Singapore by expenditure.

Ms Tan said that countries like the United States and Britain have reports that rank their top philanthropic foundations, but there was no such research in Singapore.

She said: “Thus, we took on the challenge to work on gathering data to bring more transparency into this sector.

“The research will also be useful for charities in Singapore who can potentially use it to know which philanthropic foundations they can approach for funding.”

The consultancy scoured the annual reports and other public documents of foundations registered as charities with the Commissioner of Charities.

It found 91 philanthropic foundations whose work was funded by the founders’ personal wealth or by donations made by the company that set up the foundation.

Among the 91 foundations, 55 were set up by individuals or families and 20 were started by companies. The rest include other set-ups like The Hokkien Foundation and the Community Foundation of Singapore.

About a third of the 91 foundations spent at least $1 million in their latest financial year – this could be from 2018 to last year, depending on the foundation. The rest of the foundations spent less than $1 million.

Ms Tan said the foundations’ expenditure included grants and donations as well as manpower costs and other expenses to carry out the philanthropic work.

The report stated: “Philanthropic giving through foundations is set to grow as more wealthy individuals and companies set up foundations.

“Hence, the influence and role of philanthropic foundations in addressing needs in the community is set to grow.”

To make an impact with your giving, read more here.

This article was originally published in The Straits Times here. Source: The Straits Times © Singapore Press Holdings Limited. Permission required for reproduction.

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Events

Colabs: doing more for persons with disabilities

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As persons with disabilities reach age 18 and exit the school system, they face new life challenges, including living their desired life and gaining access to care and support. With a keen eye on identifying opportunities to improve the lives of these individuals, we kicked off the Colabs Disability series which focused on engagement pathways and employment through catalysing cross-sector collaboration.

As part of the series, participants were recently invited to the MINDS’ Idea Employment Development Centre to understand what a sheltered employment workshop in Singapore would look like. Made up of a diverse group, including social enterprises, corporates, philanthropic institutions, government agencies and non-profits, the group bonded over a common desire to learn and do more for persons with disabilities.

The group took part in various work stations at MINDS, where they interacted and worked alongside their clients. On a daily basis, clients were engaged in a wide range of activities, from seeding, retail, craft and kitchen work, to the packing of edible gifts, bottled water, and disposable earphones.

Next, participants gathered to share their aspirations for persons with disabilities, and their ideas on how the current model of sheltered employment could be improved. For many in the room, it was an eye-opening experience and a great chance to explore opportunities to contribute and collaborate.

Within the context of the sheltered workshop, companies and philanthropists can:

Create greater variety in jobs in workshops, or increase the number of jobs available, by connecting sheltered workshops with potential employers to explore and implement job re-design matched to the abilities of persons with disabilities, or encouraging companies to outsource certain tasks to persons with disabilities (e.g. event decoration, gift preparation, logistics). Much of this can be enabled by education and outreach to potential partners.

Provide a variety of social activities outside of work tasks in sheltered employment workshops, through partnerships with existing non-profits.

Improve the financial sustainability of running sheltered workshops by funding wages or subsidies, providing pro-bono services or skill-based volunteering to sheltered workshops in the marketing of existing products such as bottled water, food and gifts.

Companies and philanthropists interested in understanding how to work together with MINDS can contact the Idea Employment Development Centre to explore possibilities.

If you’re interested in what can be done to support persons with disabilities and their caregivers, the DesignSingapore Council has published an ethnographic study documenting how persons with disabilities live, work and interact with society, along with an illustrated overview of services supporting persons with disabilities. 

Some suggestions for collaborative solutions – based on the collective feedback of over 80 participants in the series – are outlined in the Colabs publication ‘A Call for Collaborative Giving: Bridging the Divide for Persons with Disabilities’ which can be downloaded here.

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Stories Of Impact

#MyGivingJourney X Jenny Wah: Transforming customer experiences to reignite growth

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#MyGivingJourney is a series by CFS where we feature extraordinary women in Singapore and their efforts in philanthropy. In our last feature, we have one of our own – Jenny Wah, CFS’s Director of Marketing & Communications.

Jenny Wah chalked up over 20 years of marketing experience at several MNC companies. She started in Key Account/Brand Marketing in the FMCG industry with brands such as Coca-Cola & Pokka. Then she spent the bulk of her marketing career in the IT industry with Adobe and Autodesk. She led global teams and worked with diverse clients all over the map. The demands were dizzying, as were her frequent flyer miles.  

It was a career that rewarded on many fronts. Then the COVID-19 pandemic hit, leaving many businesses and employees reeling. The pandemic was called a ‘great equaliser’; however, COVID-19 also revealed glaring inequalities in societies. For her, this was a period of introspection that led to a flash of insight and courage.  Jenny recalls: “I found myself wondering, what could I do that can contribute to a more equal society?”  

So when the opportunity to join the Community Foundation of Singapore came along, she decided to take up the role of Marketing and Strategic Communication Director.   

Equality of opportunity and social mobility have long shaped Jenny’s outlook towards a purposeful life. One of three children of a mechanic and a housewife, she understands the struggles of many lower-income families.  

Growing up, Chinese New Year was a particularly poignant time. For her, it was a window into how altruism can uplift lives: each year, the Chinese clans would give out bursaries to help students in need, as well as items like school books, shoes and uniforms. Jenny was one such beneficiary. 

Education was Jenny’s springboard to a better future. Armed with a B. Business (Honours) degree from NTU and later an MBA, she embarked on a career in sales and marketing, garnering a reputation for her can-do spirit and creative solutions. She often spearheaded her firms’ corporate social responsibility efforts as well, which she found fulfilling. Four years ago, she started volunteering as a museum host at the National Museum of Singapore, feeding her passion for culture and history. 

Crossing over to a nonprofit meant new challenges. Budgets were smaller and there weren’t as many hands on deck. Jenny learnt to work around this by tapping into her network for pro bono services and negotiating goodwill with vendors. She also had to build a team from scratch.  

However, all this was made easier by the warmth and commitment of the people she worked with. “Everyone double or triple hats and works together for the collective and greater good, never losing sight of the big picture” she notes. Most importantly, she adds, “I see my work here initiating positive change and making a difference.”  

Jenny believes that technology can deliver an impactful customer journey in a consistent, personalized and scalable fashion through transformative concepts such as marketing automation, nurturing through compelling content and relationship marketing. 

“For me ‘Customer Experience’ is not marketing fluff, it’s a work ideology that needs to be at the core of everything we do professionally. I believe that both ‘People’ and the ‘Promises’ we make are at the very heart of CFS’s Brand. I am proud to work in CFS which offers the unique opportunity to be a part of something that will profoundly impact society,” she says. 

Begin your own journey of giving with CFS. Read more about the #MyGivingJourney series here. 

This article was written by Sunita Sue Leng, a former financial analyst and journalist, who believes that the written word can be a force for good. She hopes to someday write something worth plagiarising. 

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Fresh off the press

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Annual report 2018
In financial year 2018, CFS received a total of $9.7 million in donations. We disbursed $12.4 million worth of grants to 186 charitable organisations supporting various causes. This year’s annual report also showcases CFS’s latest donor advised funds, grantmaking highlights, collaborative giving initiatives and recent events.
Download your copy here.

A Call for Collaborative Giving
This first Colabs publication – a collaboration between CFS and NVPC – sheds light on the challenges disadvantaged young persons face at home, and the impact of the family environment on educational attainment and social mobility. The guide offers suggestions on collaborative action to help givers close the gap for these individuals.
Download your copy here.

Speaking after the association’s annual general meeting at Kallang Netball Centre on Friday, Liang-Lin, a fund manager for a US$7 billion (S$9.5 billion) firm focused on green real estate investments in Asia, hopes to bring her expertise to the table and increase the amount of financial support for Singapore netball during her four-year term.

The 53-year-old took over from Deputy Speaker of Parliament Jessica Tan, who has been the association’s president since 2012. Tan had reached the end of her tenure, which saw the national team make several breakthroughs, including a gold medal at the 2015 SEA Games in Singapore.

Liang-Lin holds various appointments such as being Singapore’s representative to the G20 for Women appointed by the Ministry of Finance. She is also a board member of the Community Foundation of Singapore, which promotes philanthropy through facilitating the establishment of charitable funds.

She said: “One of the things that is overlooked when we look at philanthropy and fundraising is that sport is not really part of the things that people will automatically think about.

“Less than one per cent of the funds that we raise in the Community Foundation goes to sport. The values that sport brings need to be amplified more, so that corporates… see the need to support sport. I think that link needs to be stronger so that we get not just more corporate sponsors, but also they can come in for longer periods of time.”

While national agency Sport Singapore provides funding to netball, corporates can also do their part, she added.

She said: “If we play our cards correctly, we can get corporates to come in and hopefully support them, to see the wider purpose of sport and bring the nation together.”

She also hopes the association can be proactive in looking for financial support, adding: “We must work more strategically with governing bodies on educating corporates on the importance of really supporting sport.”

The former netball player also made references to the recent Women’s World Cup for football, noting the “ability for a game that focuses on women in the sport to bring global attention”.

She said: “I want that kind of trajectory of the limelight going to women’s sport. I think that is a trend that will continue, and I hope that netball will be part of that trend.”

Meanwhile, Tan was satisfied that she has achieved the three objectives she had set out to do when she came on board – to improve quality of play, build a fan base and create an ecosystem which involves coaches and players.

The 57-year-old added: “As much as I do feel sad about having to step down, but at the same time, leadership renewal is very important.

“I think Trina will help to galvanise the team together, and bring a lot of new perspectives and quality to the association.”

Join us in making an impact on Singapore sports scene! Reach out to us for more information.

Source: The Straits Times © SPH Media Limited. Permission required for reproduction

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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”。

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