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CFS Annual Report 2017

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CFS annual report 2017 cover

The CFS Annual Report 2017 has just been published. This year’s Annual Report sums up CFS’s effective work with donors and charity partners for the year as we continue to impact diverse communities. Download your copy here.

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News

Business Times: As they received, they now give

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John Doe
A snapshot of a newspaper Business Times: As they received, they now give

Education is a force for good and a cause that Trina Liang-Lin and Edmund Lin are passionate about supporting.

Education has been pivotal in both their lives, paving stones to their successful careers. Ms Liang-Lin, 47, is the managing director of investment research consulting firm Templebridge Investments, and married to Mr Lin, 49, partner and founding member of Bain & Company’s Singapore office.

She is known for her passion for women’s empowerment. The past-president of the Singapore Committee for UN Women sits on the boards of several non-profits including the National Volunteer & Philanthropy Centre, the Singapore Council of Women’s Organisations and Victoria Junior College. He has devoted time and expertise to the Singapore Management University (SMU), serving on its boards.

“Both of us, we see education as the ultimate leveller. We saw it in both our lives,” says Ms Liang-Lin.

A giving shaped by education
Thinking back to her days as a St Joseph’s Convent schoolgirl, Ms Liang-Lin recalls walking through the school compound each morning, climbing the flight of stairs to the school hall and seeing a bronze plaque bearing the name of philanthropist Tan Kah Kee who had given money to build that hall.

“It made an impression on me,” she says, that someone with no obvious ties to the school and its students would decide to give. For that school still means much to her today. It was where some of her deepest friendships were forged.

That plaque led her to notice similar plaques elsewhere, such as a list of donors and their donations towards the building of what is today’s Singapore Art Museum. The three-digit figures seem insignificant now, yet, helped raise buildings of such significance. “It impressed upon me that for a sum like that you can leave such an important legacy,” says Ms Liang-Lin.

Later, she would receive a scholarship to study abroad – an opportunity that would have been out of reach without a scholarship. “It did change my life,” she says.

Education, and the generosity of others, changed Mr Lin’s life too.

His parents arrived in the United States as struggling graduate students from Taiwan and Hong Kong. But they were shown hospitality and care. Mr Lin remembers one American couple that looked out for his mother, offered their backyard as a venue for his parents’ wedding, and then hosted his family for numerous Thanksgiving dinners.

“From a young age, I always felt that my parents, my brother and I all benefitted from the kindness of others,” he says.

His parents’ education was a gateway to a comfortable life in the U.S. for their family. And eventually, Mr Lin himself was awarded scholarships that secured him a high-quality college education without any financial burden.

How much is enough?
The couple acknowledge that the volunteering they did during their college years – Ms Liang-Lin served at nursing homes while Mr Lin volunteered as a mentor at college and with San Francisco’s Chinatown YMCA – came to a halt when they first joined the workforce in demanding jobs.

Their 20s were intensely focused on work and establishing their careers. “It was really more in our early to mid-30s that we said, okay, we’re at a certain level of accomplishment and comfort. Now is a good time to have a more purposeful life,” says Mr Lin.

One question they had discussed, Ms Liang-Lin says, was: how much is enough? “I think the secret of success in a lifetime is knowing when enough is enough for you.”

“Enough” is not about an amount, nor a specific age. “It is very different from person to person, family to family, but it’s a state of mind – that you feel you are content and it is now time to give back to the society that allowed you to become who you are,” she says.

And so, they began giving their time and resources.

Six years into working life, Ms Liang-Lin helped found the Financial Women’s Association Singapore to provide women in finance with a support network. The association soon searched for charities to support, kicking off her philanthropic work in earnest. Mr Lin too, began contributing his time and expertise, starting with SMU’s Lee Kong Chian School of Business Advisory Board and subsequently joining the SMU Board of Trustees.

And as a couple, they began giving to causes they felt strongly about: education, gender equality, animal welfare and the arts.

The multiplier effect of structured giving
It was while they were looking for a meaningful way to celebrate their 20th wedding anniversary that Ms Liang-Lin and Mr Lin began to mull over taking things a step further to formalise their giving.

“We spoke with Mr Teng Ngiek Lian of the Silent Foundation, who encouraged us to start our philanthropy journey now, rather than wait. He also gave us a better sense of what was needed to set up a private foundation – staffing, resources, expertise and governance,” says Ms Liang-Lin.

They also had a serious chat with Laurence Lien, chairman of the Community Foundation of Singapore (CFS), and eventually decided to set up the Lin Foundation, a fund managed by CFS, with an initial six-figure sum.

“As busy professionals and younger philanthropists, CFS saves us the work and resources needed to set up our Lin Foundation. CFS provides us with philanthropy management and grant-making expertise, ensuring that our grants are effective and meaningful,” says Ms Liang-Lin.

Other draws were how CFS works with a broad range of charities, offers donors a structured charitable vehicle that provides relevant tax deductions on donations, and, importantly, offers the flexibility to grow their fund over time.

Mr Lin cites the Lin Foundation’s scholarship for SMU students lacking the finances to pursue a semester abroad, as one initiative that could be scaled up. “CFS helped us with the selection of candidates, disbursement, administration, etcetera. I can imagine, with the help of CFS, expanding on homegrown initiatives like this, scaling them up.”

They may have chosen to set up their foundation at a relatively young age, but Ms Liang-Lin believes they are a part of a growing trend.

“Increasingly, people are realising that they don’t have to wait till they are older and richer to give back and make an impact. The proliferation of new media platforms is reshaping attitudes and approaches to giving. There is a growing awareness of social problems, and how these can be tackled by contributing funding support, knowledge and expertise,” she says.

To Mr Lin, giving adds much to his life. “Giving creates for me a lot of meaning in my life. The pursuit of economic goals will only take you so far. The time one spends giving back to a community creates great energy. Yes, it takes time. But this is time that creates more energy and the capacity to do more.”

And, he likes being able to give together with his wife. “We both, professionally, have quite a lot going on. But this is one thing we can share, do together, and find great pride and meaning in.”

Source: Business Times © Singapore Press Holdings 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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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

Speech by Chairman Laurence Lien at CFS’s 10th anniversary celebrations

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John Doe
Chairman Laurence Lien Speaking in front of the stage

Thank you all for joining us in this celebration.

CFS was first incorporated on 8 September 2008; hence our 10th birthday celebrations now. Lehman Brother collapsed on 15 September 2008, so we are also commemorating 10 years of the Global Financial Crisis.

I spoke of how we were born in bad times at our Chinese New Year luncheon in March. I will not repeat what I said, except to emphasise again how difficult it was to start up. It was difficult to hire, because we were a start-up doing something novel here. Donors didn’t want to talk to us. And there were even people in the sector who did not want us to exist, as they saw us as competition for funds.

Surviving those early days was a minor miracle. I was there at the start so I have my war stories. Frankly, before I became the CEO of NVPC in 2008, the first job that then Chairman of NVPC, Stanley Tan, offered me was not the NVPC one, but to be the first CEO of CFS.  I rejected it, and took the NVPC one instead. But little did I know that after the first six months, I was to do both jobs, and became the acting CEO for nearly four years.

So there we were at the start helping donors give strategically, bridging them with charities, providing donor advice, grantmaking expertise and back end administration. What we still do today.

Writing a cheque is not difficult at all; but giving well is. In my years at NVPC, I kept hearing from people that they wanted to give, but did not know how. They didn’t know where the social needs were, or how to assess charities and programmes. So we helped them, cut out the hassle and thereby increasing the joy of giving.

But being a good idea is not enough. People had to believe that we could do what we said we would. We spent the best of our first five years just building credibility. And 10 years on, I am very proud of what we have built.

Catherine has already mentioned the numbers. Let me just include two more. One, at least three of our donors have gone on to form their own foundations. This to me is a sign that we have helped these donors learn and mature, and we can let them go on to do greater things. Two, when we conducted a comprehensive ‘Donor and Grantee Perception Survey’ a few years back, we had very high donor satisfaction ratings – with 83% satisfaction rates and 93% saying that they would recommend CFS services to others. But satisfaction among our grantee charities was even better: 94% rated CFS as efficient and effective. This shows that we are able to be close to the charities and help them bridge effectively to our donors.

As someone who has been so actively involved in the growing CFS, I am extremely proud of what we have achieved in these 10 years.

To come this far, there are many people I would like to thank, especially those who were there during our early years:

  • Our first Chairman Stanley Tan who not only was the architect and founding chair of CFS for its first five years till 22 Aug 2013, but he was also single-handedly responsible for bringing in the first $15 million in pledges.
  • The other founding board members – J Y Pillay, David Lim, Mary Ann Tsao, Kwek Siew Jin. As a young start-up, donors would typically ask who is on the board. When we mention J Y Pillay, they would immediately say, okay, I know I can trust you.
  • All staff who have helped make CFS’s first 1,000 days, without whom, we could not possibly be successful I would like to single out two amongst us today. Yvonne Yu who joined us in January 2009 and Joyce Teo who joined us in March 2009.
  • All our donors, particularly our founding donors who gave us a chance like Stanley Tan and MILK Fund, William and Mary Bird, Simon Cheong and UBS. We also have in our midst Yeoh Keng Joon, Vivien Goh, Changi Airport Group, Ascendas-Singbridge and the family of former President S R Nathan, who have all been strong supporters of CFS for many years. In fact, Mr Nathan officially launched CFS in February 2009, and subsequently trusted us with his S R Nathan Education Upliftment Fund which is now over $10 million in size and has helped over 1000 students.
  • Our international advisory council members – Clare Brooks, Eileen Heisman, Anne Boyd and Bob Edgar. These people had so much experience, and they were incredibly generous to give us time to share and guide us. Whenever we had a difficult question, we would shoot it to one of them, and we would almost always get a detailed and insightful reply within 24 hours. They were simply amazing.

And the many others who came along and played their invaluable role in making us the success that we are today. Thank you all of you. This has truly been a community effort, and I am privileged to have been part of that journey.

What would the next 10 years look like for CFS? Moving forward, I believe there is still much work there needs to be done. I think CFS has only reached out to a small fraction of our addressable market. CFS has grown rapidly, but the number of people with significant means and who want to give strategically have increased substantially.

What is my own vision for CFS in 2028?

One, that we be at the forefront of community philanthropy, that we build this sense that the many communities in Singapore can come together to solve our own problems, without always looking to the government. I hope that in 2028, we will see mini community foundations in our neighbourhoods, in places like Toa Payoh, Queenstown and Punggol.

Two, that we have democratised giving. Giving is not only for the rich; everyone should and can give. I hope to see young adults start donor advised funds with us, at smaller amounts of commitment, and our collective funds grow with widespread contributions.

Three, I hope to see CFS raise $1 billion in donor funds, maybe not in 10 years’ time, but at some point in the future.  I believe we are at an inflection point. As we grow legacy giving, we are planting seeds for growth that will bear fruit in the future. I hope to encourage Singaporeans to give when we are alive and able to enjoy giving.

But this is my own vision. Over the next few months, we will be transitioning to a new chair.  We already know who the new chair is but will announce only a little later. So the new chair, together with the board, will develop and own the vision for the next 10 years. I can only step back and cheer them on.

All I know is this. CFS has come so far. Moving forward, CFS is well-positioned to continue to grow from strength to strength. We count on you present today, to continue journeying with us, to grow this community of givers. We all are part owners of CFS because we are all the part of the Singapore community. Be engaged. Broaden and deepen our community. Give more. And invite me back in 2028.

Thank you.

Laurence Lien
Chairman
Community Foundation of Singapore

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”。

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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

The Straits Times – Volunteerism rate needs to be 70 per cent with ageing population: Grace Fu

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John Doe
A room of elderly people doing head exercises

In an effort to create a caring and empowering environment for its rapidly ageing population, Singapore hopes to double its volunteerism rate from one in three currently to 70 per cent in five years’ time.

“We hope for Singapore to grow as a giving nation with a volunteer in every household,” Minister for Culture, Community and Youth Grace Fu said in a keynote address on Tuesday (June 5) at the Asian Venture Philanthropy Network’s (AVPN) conference.

“We believe technology can empower and enable citizens to do good by providing time, money and resources to meet the needs of their neighbours and build stronger social bonds,” she added.

The conference at Suntec Singapore, which began on Monday, is the largest gathering of social investors in Asia, bringing together 1,000 delegates from 40 countries to address critical issues related to climate action, education and wealth disparity, among other things.

In her speech, Ms Fu noted the challenge faced by many countries: “In the face of technological advances that disrupt our businesses, our jobs, the way we communicate with one another; in the face of an ageing population that will change the societal structure and dramatically increase the need for social services; in the face of globalisation that may result in uneven economic progress for segments of society; our challenge is to activate and strengthen the social compact in the face of increasing social and technological divides.”

To that end, the National Volunteer and Philanthropy Centre’s (NVPC) Giving.SG portal has grown over the past few years to more than 150,000 members who use the platform to find opportunities to volunteer and make donations.

More than S$100 million has been directed to charities through the portal, with over S$50 million distributed in the past 2½ years alone.

She said collaboration across the private and public sectors is key to achieving impact in the social sector.

“Corporations could step up and partner government and non-profit organisations to do more for the community. Recognising that there are important stakeholders other than shareholders, corporations should place social responsibility clearly as part of their score card.”

“Business leaders should move beyond conducting ad hoc, one-off sponsorship or events to incorporating sustained giving programmes as an integral part of their corporate strategy and identity. Companies benefit from the shared public assets of the societies in which they operate and should therefore in return deliver benefit to all these constituencies,” Ms Fu added.

She said social enterprises can play a critical role to achieve inclusive growth.

She said: “Social enterprises play an integral role in the ecosystem, by achieving social impact in an economically sustainable way. They bridge the people and private sectors, and deliver on both purpose and profit.

“Corporates can help grow the capacity of this important sector, by providing strategic counsel and business mentorship to social entrepreneurs.”

The NVPC and the Community Foundation of Singapore recently started Colabs, an initiative that brings together the public, private and social sectors to tackle complex social issues together at the same forum.

It provides a platform for philanthropists, businesses, foundations, non-profits and sector experts to focus on co-creating solutions for specific social needs.

The first Colabs series on children and youth catalysed two foundations, a multinational company and local non-profits to form a collective venture to help disadvantaged youth transit from school life to work life, with an initial pledge of more than $500,000.

Ms Fu said: “It is a targeted phase in youth and education, which needs very targeted outcomes to plug gaps, that sometimes impact the effectiveness of our programmes.

“So we know that there is a gap, the gap needs more than just financial resources; you will need expertise, networks and opportunities and that’s where the collaboration of various sectors make impactful interventions.

“Two other areas are also being explored – one on the engagement and employment of persons with disabilities; and another on seniors.”

By bringing resources and expertise together, the platform allows for better coordination, clearer focus and customised solutions that the beneficiaries require, she added. Read more.

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.

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