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Opinion

Charting your legacy

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CFS CEO Catherine Loh giving a speech

I think we can all agree every individual has something unique to give back and offer to society. And yet, when thinking about legacy, how often do we realise that every action we take, however large or small, is actually creating our legacy? Perhaps some of us believe legacy giving is only for wealthier individuals, or that legacy giving can only be defined in financial terms.

It’s important to realise legacy is much more than just financial in nature. Your legacy also includes your personal or business values, the values you have inculcated in your children. It encompasses the giving of your time, expertise and even your resources to empower someone in need. Think about creating a legacy as living a life of generosity, in ways that make meaningful social impact while aligning to your values.

If you’re passionate about a cause, you don’t need to wait until you’re richer, older and retired to start thinking about taking action. Today, with technology, new giving channels and opportunities for collaboration with a wider community are already available and being created each day. As a donor in this exciting era of knowledge-sharing, there are many opportunities to learn about causes you care about and how you can contribute.

For some of you, you might be moving on from ‘success’ to ‘significance’. “How will I be remembered in a hundred years’ time?” “How can I leave a better world for future generations?” As two prominent families shared at our recent CRIB x CFS Legacy and Impact event, leaving a legacy also means preparing your next generation to become responsible stewards of your family’s culture of giving. This often means setting up a framework and sharing your family’s values, so that your children are empowered to continue the good work you have begun.

If you’re wondering how you could start to plan for legacy giving, here are three key ideas to help you along your journey:

Start the conversation
Identify your interests, values and the impact you want to make, so that you can find a focus for your giving.

Consider your structure
Setting up a fund helps to structure your philanthropic activity, improve strategic decision-making and better measure outcomes.

View philanthropy as a journey of learning
Learn more about issues on the ground, what the real needs are, and what are more strategic ways to make a change.

Many of our donors at CFS began from a place where they may not have had extensive histories in giving, but they have embarked on a journey to learn how they could chart their legacy, one action at time. I hope you will discover how philanthropy can be your way of life.

Catherine Loh
CEO
Community Foundation of Singapore

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News

Cellist wins Goh Soon Tioe Award

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2015 winner, cellist Theophilus Tan

Theophilus Tan is the first cellist to clinch the Centenary Award since it was established in 2011. Cellist Theophilus Tan started piano lessons at the age of seven but was never very enthusiastic about classical music. But through a combination of emotional support from his secondary school teacher mother, strict discipline from his pastor father and from listening to his father’s collection of CDs by Russian violinist Jascha Heifetz, he fell in love with classical music. Read more.

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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Stories Of Impact

Sparking Powerful Conversations Around Giving

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Valerie Wu smiling at the camera

This article first appeared on CFS’s Legacy Giving Website. To find out more about Legacy Giving, please click here.

As a partner at Pinsent Masons, I advise families and individuals. Legal innovations, growing wealth, and changing norms have allowed asset and succession planning to evolve in very interesting ways. I think one of the most impactful ways to do so is to leave a legacy gift to your favourite cause.

Start a conversation, because asking the right questions can help shape your clients’ giving intentions. “Conversations are powerful because they drive thinking around why, who and when your client would like to give,” shares Valerie Wu.

Currently a partner at global law firm Pinsent Masons’ Singapore office, Valerie is a specialist in tax, trust and fund work. As an advisor to families in private wealth transfer and succession planning, and a former senior wealth planner at the Rothschild Trust, Valerie is inspired by the clients she’s worked with from around the world. 

“I’ve been privileged to be able to observe how families both at home and in other jurisdictions think about succession planning,” she says, “There’s a general belief that if one makes a certain amount of money, one needs to give part of that income away to benefit others.”

In a nod to her own experience, Valerie says, ” As we grew up in an emergent, developing and hungry Asian landscape, we often watched and listened to our grandparents. My grandmother was a very strong lady who arrived in Singapore before the Second World War. She never forgot her roots, always sending money back to her home town to support her community.” 

As a tax lawyer with a strong interest in succession planning, Valerie is keen to empower legacy giving in Singapore through her knowledge. In the near future, she is looking to work on law reform to simplify the process of giving in Singapore. 

She finds satisfaction in prompting her clients to think more intentionally on their giving. “Advisors can make a big impact if we can strike more conversations around giving and make legacy giving more accessible and easier to understand,” she says. 

She encourages more advisors to kick-start these conversations, “Make conversations around giving a part of your planning exercise to drive the thinking process, because there’s a huge potential for legacy giving to benefit charities and causes in Singapore.”

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News

Berita Harian: Programme to prepare youths for the workplace launched

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A group of friends making drinks

Read more.

Translation:

Two programmes to help disadvantaged youths transition from school to work were launched yesterday in conjunction with the opening of the A.P.T.I.T.U.D.E Centre at ITE College Central.

Launched by the Singapore Youth Impact Collective (the ‘Collective’), the initiative is the first of its kind in Singapore that uses the collective impact model and allows donors and non-profit organisations to solve complex social issues together.

CFS deputy CEO Joyce Teo explained further: “This approach recognises the value of collaboration in addressing complex social issues that requires the coordinated efforts of multiple entities, often from different sectors.”

The Collective wants to increase the ability of youths from underprivileged backgrounds to succeed in the workforce through training and skills development.

The Collective comprises six members, namely Changi Foundation, the Community Foundation of Singapore (CFS), Credit Suisse, Octava Foundation, SHINE Children and Youth Services (SHINE) and TOUCH Community Services (TOUCH). To date, the funders have pledged close to $1 million towards the programmes.

The programmes, A.P.T.I.T.U.D.E Centre at ITE College Central and Youth Forte, aim to encourage young people to get their education qualifications, to develop their socio-emotional skills and provide them with access to job opportunities.

For example, A.P.T.I.T.U.D.E which is run by TOUCH in collaboration with ITE will offer structured programmes.

TOUCH youth coaches will work closely with the ITE-identified classes and help students work hard towards achieving their dreams

The Youth Forte programme targets youths 17 to 21 years’ old who are not in school or not working more than six months, and are facing difficulties entering the workforce.

Conducted by SHINE, the programme guides these young people through various stages including assessment, individual guidance, socio-emotional training, job skills training, practical training and vocational training that provides WSQ certification.

Talking about leveraging on the collaboration, Anita Low-Lim, Senior Director (Children and Youth Group), TOUCH, said, “This is a great opportunity for TOUCH to work with similar-minded partners who want to improve the work of youth development work and develop better training programmes.”

Benjamin Teo, Centre Director for Yishun Centre, SHINE, agreed:“The collective impact model allows non-profits to tackle operational challenges together with the donors. I’m positive this will help us in making a greater in the lives of these youths and their families.”

The Collective’s programmes are for youths aged 17 to 25 who may need support in school or after graduation as they seek employment.

Their aim is to empower 230 youths to be work-ready over the next three years.

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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”。

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.

Opinion

Feeling good about giving

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John Doe
one man hugging another man

It’s the season for giving and besides getting gifts for our loved ones, many of us will also be giving to charities we usually support.

But over the years, if you are wondering whether you are merely writing a cheque or really helping the needy, perhaps this is a good time to take stock. Gain a better understanding of who you are helping and the kind of difference you are making. Many of CFS’ donors start with this thought, and I am happy to share some tips that can help make your year-end giving more meaningful.

Know your own motivations and resources
Consider your motivations and expectations when you donate. What prompts you to donate? What sort of impact are you expecting? How quickly do you want to see results? How much time can you set aside to learn more about a cause or social issue? These questions can help you to gain greater clarity on why you give, and whether your expectations are realistic.

If apart from donating, you would also like to volunteer, assess your ability to deliver by considering your time, money, commitment and expertise. Perhaps you would like to be on the organising committee of a fundraising event this year? Help the charity by being honest with yourself and with them.

Build your knowledge of social issues and collaborate
It’s always easy to give to causes that you are familiar with or are directly in front of you. But is your money going to where it is most needed? Instead, you can build your knowledge and learn more about current social problems or deep-rooted community issues that need support. Who knows, you may uncover fresh perspectives on how your money can better meet needs and still support a cause that resonates with your values. You can also gather a group of like-minded friends together to multiply the impact. When donors are willing to share knowledge and resources, redundancy is reduced, and funds can be directed more efficiently.

Adopt the mindset of a partner
Lastly, here are some things to keep in mind when working with charities. While some charities are able to provide a certain level of appreciation to donors, there are many that are under-resourced and face challenges in providing a satisfactory giving experience. If you are a customer to a for-profit business, you may give to a business with better service. But before you take your donation to another charity, do consider taking on the mindset of a partner rather than a customer.

If you assure the charity that you are interested in their real challenges rather than how well they keep things together on the outside, the charity can be honest about what they really need. As a result, you will gain a better insight into what it takes to make a meaningful change.

At CFS, we believe in giving that is marked by continuous learning and a true desire to make community better. Let’s make this giving season better than the last. Happy holidays!

Catherine Loh
CEO
Community Foundation of Singapore

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