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Donations to CFS increased by 60% over the past two years新加坡社区基金会两年多善款增六成

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Home Resources News Donations to CFS increased by 60% over the past two years新加坡社区基金会两年多善款增六成

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Donations to CFS increased by 60% over the past two years新加坡社区基金会两年多善款增六成

March 27, 2024

Over two years, the number of Donor-Advised Funds (DAFs) managed by the Community Foundation of Singapore (CFS) has increased from 162 to 235, and total donations received since inception has risen from $192 million to $311 million. As of 31 December 2023, CFS has disbursed over $169 million in grants, a big jump from the $114 million disbursed as of 31 March 2021.

Speaking to Zaobao, CEO Ms Catherine Loh, shared that one reason for the significant increase in donations was due to a few large donations exceeding $10 million over the past three years. She also highlighted the introduction of Legacy Giving by CFS, and the organisation’s efforts to work more closely with financial and legal advisors to promote philanthropy. Notably, about 15% of CFS’s DAFs are memorial in nature, including the recently established Adrian Tan Memorial Fund in 2023.

Learn more about our DAFs at https://cf.org.sg/donors/donor-advised-funds/.

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Set up during the covid-19 pandemic, Sayang Sayang Fund raised $9.7m over three years, supporting over 400,000 lives
应疫情设立 Sayang Sayang基金三年筹970万元惠及40万人

过去两年多，新加坡社区基金会管理的慈善基金从162个增至235个，善款从1亿9200万元提高到3亿1100万元，增约六成，显示国人对慈善的意识不断提高。

截至2023年12月31日，新加坡社区基金会（The Community Foundation of Singapore，简称基金会）发放的善款超过1亿6900万元，比截至2021年3月31日的超过1亿1400万元多，造福更多人。

新加坡社区基金会总裁罗佩仪答复《联合早报》询问时说，过去三年，基金会接到几个超过1000万元的慈善基金，这是善款增加的其中原因。

另一原因是因为基金会积极推广遗赠项目，并且与财务专员和律师更紧密合作，让更多人认识基金项目，所以取得积极成效。

基金会在2008年成立，通过可持续、妥善和具透明度的方式，协助个人、家庭或企业设立或管理慈善基金。

捐款者能以自己、家人或公司名义设立基金，或为逝者设立基金。遗赠可包括现金、提名基金会为受益人的保险赔付或公积金存款，以及有价证券或房地产等。

捐赠者可指定受惠者，基金会将与相关慈善团体配对，制定有效的行善策略。

基金会与超过400个慈善伙伴合作，协助对象广泛，包括孩童、年长者、客工或社会边缘人，援助范围包括医疗、教育、艺术和动物福利等。

罗佩仪说，基金会管理的“捐献者指示基金”（Donor Advised Funds）分三类，一种是捐赠基金（Endowment fund），慈善资产将永久保存在社区基金会并进行投资，投资收益直接用在所选择支持的慈善机构和项目。

第二种属于流转基金（Flow-Through Fund），在特定时期内支持个人选定、所喜爱的慈善机构和项目，占总指示基金约75%。另一种是可投资流转基金（Investible Flow-Through Fund），捐款用于投资，投资回报和本金都可用于个人选择的慈善事业。

捐献者指示基金目前最大款项超过2000万元

在捐献者指示基金中，目前款项最大的超过2000万元，而总指示基金也有约15%属于纪念性质的基金，包括去年设立的陈锦海纪念基金。

她说，陈锦海纪念基金是陈锦海妻子为了向亡夫致敬，并支持他生前热衷的慈善事业而设的。

“纪念基金是缅怀亲人的绝佳方式。我们当中的许多人都是读陈锦海的书长大的，很荣幸能与陈太太合作向他致敬。陈锦海纪念基金确保他的遗赠得以延续，支持他生前关心的公益事业。”

罗佩仪也指出，可投资流转基金是一种新的基金类型，“我们看到捐助者的需求不断增加，他们希望利用捐款投资获取回报，并灵活使用捐款和投资回报，支持所选择的慈善机构。”

已故前总统纳丹生前设立“纳丹教育提升基金”

已故前总统纳丹于2011年卸下总统职务时，通过社区基金会，以他的名义设立“纳丹教育提升基金”。

属于捐赠基金的纳丹教育提升基金，两年多前累积逾1000万元资金。

纳丹生前委任一个拨款咨询委员会，负责就基金可支持的项目提供建议，通过助学金、奖学金，以及各项经济援助计划，支持工艺教育局以下工艺教育学院和高等教育学府的贫困学生顺利升学。纳丹2016年逝世，享年92岁。

信用：联合早报©新报业媒体有限公司。复制需要许可

This article was originally published in Zaobao here. Source: Zaobao © SPH Media Limited. Permission required for reproduction.

Related Topics For You: ACCESSING QUALITY EDUCATION, ADVISOR STORIES, DONOR STORIES, DONOR-ADVISED FUND, LEGACY GIVING, NEWS, STORIES OF IMPACT

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Sayang Sayang Fund continues to appeal for donations

John Doe

In less than one week, the Fund received $450,000 in donations and pledges of about $900,000
The Fund aims to raise $3 million by end of April

Last Tuesday (7 April 2020), the Sayang Sayang Fund relaunched fund raising efforts to raise another $3 million to meet evolving and urgent needs of the community to complement the work of local public health, non-profit and government entities with emergency support during the ‘circuit breaker’. This is in addition to the $1.1 million raised since its launch in February.

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Chief Executive Officer of the Community Foundation of Singapore, Ms Catherine Loh gave an update to the fund raising efforts, “In less than one week, thanks to donors from all walks of life, we have received $450,000 in donations. Of this, more than $100,000 was raised through online platforms like Giving.sg. In addition, CFS has received pledges of about $900,000. It is heart-warming that during this difficult time, Singaporeans continue to be generous and stand united to help those who are needy amongst us.”

Joining in to publicise the efforts of fund-raising were artistes like Taufik Batisah, Rui En, Joanna Dong, Irene Ang, Jeremy Monteiro, Gentle Bones, Simone Heng and Jack and Rai – who posted on their own social media platforms to encourage their followers to make donations.

Update on Recess@Home

One of the initiatives announced last Tuesday was Recess@Home, which aimed to provide immediate support for children from disadvantaged homes to have access to daily meals when they are learning at home during the national circuit breaker period.

The Ministry of Education (MOE) announced today that primary school students on the MOE Financial Assistance Scheme (FAS) will receive a total of $60 each, while secondary school students on MOE FAS will receive a total of $120 each.

The Sayang Sayang Fund is happy to update that it will be partnering the Ministry of Education (MOE) and channel $500,000 to provide an additional support of $20 to primary school students. The School Smartcard can be used to purchase food and essential groceries at some hawker centres, food courts, minimarts, convenience stores and supermarkets.

Apart from the partnership with MOE, the Fund’s Recess@Home will continue to provide additional support to other needy students including those with special needs and in tertiary institutions.

New initiative: SeniorsOK@Home

The Sayang Sayang Fund has also confirmed a new initiative, SeniorsOK@Home, which it will embark on in partnership with the Agency for Integrated Care and healthcare-based charities. This initiative provides support for immediate and urgent aid to seniors stranded at home and in need of food, necessities and medical supplies. It also supports digital solutions, such as video conferencing, to continue delivering essential services for seniors at home and online recreational activities to minimise social isolation. In addition, it will fund precautionary measures such as disinfection and sanitisation of premises to maintain quality of care for charities who are providing essential community services to seniors during the circuit breaker period.

About Sayang Sayang Fund

The additional $3 million the Fund hopes to raise will support local charities and non-profits whose programmes and proposals meet three key objectives:

Support community-based emergency response funds that provide immediate and short-term support and relief for individuals and families from marginalised communities adversely affected by the COVID-19 situation.
Provide innovation solutions and research that address current and emerging needs and strategically fill gaps to combat the COVID-19 situation.
Build capabilities that transform operational and/or business continuity processes. This includes measures enabling charitable organisations to pivot service delivery and business models. The ultimate goal is to ensure that recipients continue to access essential support and assistance amid disruptions to programmes and activities.

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John Doe

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”。

Related Topics For You: ACCESSING QUALITY EDUCATION, ADVISOR STORIES, DONOR STORIES, DONOR-ADVISED FUND, LEGACY GIVING, NEWS, STORIES OF IMPACT

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Why billionaires are setting up family offices in Singapore

John Doe

Asia’s billionaires are getting ready to hand over to the next generation, and Singapore is benefiting from the rush to set up new or satellite family offices with an increased focus on philanthropy and impact investing.

In recent months, Horizon Ventures, a private investment firm associated with Hong Kong billionaire Li Ka-shing opened an outpost in Singapore.* Oppenheimer Generations, the family office of former De Beers chairman Nicky Oppenheimer, is also in Singapore while Bridgewater Associates founder Ray Dalio and Google co-founder Sergey Brin both set up shop in late 2020.

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Singapore’s Economic Development Board is doing everything in its power to reel them in. It has enlisted the private banking sector to help family offices’ interest in philanthropy and impact investing, which seeks to generate a social or environmental impact as well as a financial return.

Two years ago, the Singapore government introduced variable capital companies (VCC), fund management vehicles with tax incentives and other benefits. These are appealing for family offices, particularly those with an interest in changing the world.

“Philanthropy is the new black in Asia,” said one private banker who advises the wealthy. “Singapore prides itself on being a financial hub and to keep that reputation, it needs to set the pace on new trends like green investing and impact investing.”

Asia is behind Europe and the United States, where philanthropy has long been a business that’s expected to generate measurable returns and the likes of the Bill and Melinda Gates Foundation have pioneered impact investing.

This is likely to shift with the looming generational change in wealth, said Peter Golovsky, managing director and head of family office services, Asia Pacific, at Alvarium, a global multi-family office.

“Some 85 per cent of Asia’s billionaires are first-generation wealth creators, founders of family businesses.

“Their average age is 65, so they are looking at succession strategies. Family office allocations in impact investments sit at around 12 per cent, but we expect that to double in the next few years, and it will be driven by the next generation.

“Singapore has attracted a lot of wealth through structures like VCCs and other tax incentives, including residency options and paths to citizenship.

“As global families and entrepreneurs, including philanthropists, think about where they want to set up and run their businesses, and where they want to live, I think there will be another step up,” he said.

One measure of interest in social investing is a sold-out conference on the topic, organised by industry group AVPN, that kicks off next Tuesday in Bali.

Despite this increased interest, impact investing structures have a long way to go, according to Mette Ekeroth, managing director and group head of philanthropy at the North-East Family Office, who will be at the conference.

NEFO was established by the founders of the Pandora jewellery brand, Winnie Liljeborg and Per Algot Enevoldsen, in Denmark in 2013. They opened a Singapore office three years later.

“Regulatory systems all over the world treat philanthropy and investment as very, very separate. Now everyone is realising there is an area between these two categories where a lot of the solutions lie to the problems the world faces,” Ms Ekeroth said.

“I have faith that Singapore is going to be the place that comes up with the structures we need. The authorities are engaging and consulting as they work multiple angles to try and address the gaps. We’ve seen in the past that when Singapore really wants to develop an ecosystem, it does, and it does it at high speed.”

*Clarification: After this story was published, CK Asset Holdings has advised Horizons Ventures is owned by Ms Solina Chau. Mr Li has collaborated with the firm on technology projects.

This article was originally published in The Australian Financial Review here.

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Opinion

How much does a Singapore household need for a basic standard of living?

John Doe

In a study of household budgets by Dr Ng Kok Hoe (Lee Kuan Yew School of Public Policy), A/P Teo Youyenn (Nanyang Technological University), Dr Neo Yu Wei (National University of Singapore), Dr Ad Maulod (Duke-NUS), Dr Stephanie Chok and Wong Yee Lok (LKYSPP), a basic standard of living means “…more than just, housing, food, and clothing. It is about having opportunities to education, employment, and work-life balance, as well as access to healthcare. It enables a sense of belonging, respect, security, and independence. It also includes choices to participate in social activities, and the freedom to engage in one’s cultural and religious practices.”

To date, a total of two household budget studies were conducted using the Minimum Income Standards (MIS) as a research method for establishing the incomes needed for a basic standard of living in Singapore. In 2019 the study[1] targeted seniors and in 2021 the study[2] extended this work to the needs of households. The results helped to establish a living wage level, a wage that allows people to afford a decent standard of living and embodies the values and principles that the public identifies with across a range of domains.

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So, if I have a wish for, for next year and of course beyond…. it is to have a greater conversation around wages and people’s living standards that are based on principles like these – people’s needs, what is decent, what is basic, and what will allow people to not feel excluded from society.

Dr Ng Kok Hoe

Recognising the importance of research on the needs of households living in poverty, the Community Foundation of Singapore collaborated with the research team to invite 25 leaders from the social service sector to learn about the opportunities and trade-offs in applying MIS in Singapore, as well as to compare income standards in different countries. It was a process to understand about the living standards from ground up experiences which demonstrated what Singaporeans see as necessary and important to thrive while living in Singapore. Without such a process to unpack the lived experiences of individuals and communities, narratives often reinforce the worldview of the dominant and are unable to account for the real habits and practices of ordinary members of society.

The session with the social leaders was held in August 2022 and it opened up possibilities to incorporate MIS findings to review and enhance the delivery of programmes and services for marginalised communities and families.

This is an interesting discussion – we need more of these sessions for paradigm shifts within the sector itself. Social justice is one of the core principles in social work but what is “just” and is it the same as “fair”? Just or fair to who?
Participant’s reflection

The workshop invited attending social leaders to anticipate how society is changing and ask about the relevance of MIS and how it challenges or contributes to current income policies, assistance schemes, eligibility criteria for assistance and practices to ensure a minimum socially acceptable standard of living. It is also helpful for leaders from different fields to come together and share their assumptions, priorities, and values that may impact their assessment of clients’ needs and support provided.

It inspires me to imagine that when we talk about families no longer being in poverty, it is not just about being earning above a certain income (e.g., poverty line) but being able to achieve a basic standard of living. This has tremendous implications and guidance on how we think about measuring and evaluating the outcomes and impacts of our work.

Participant’s reflection

In the discussions, the participants found it crucial to include multiple stakeholders such as donors and funders who will fund these programmes and dictate expected processes and outcomes. As a follow-up, another session will be facilitated to gain their perspectives and ensure the conversation goes deeper, and generates aligned perspectives.

Through these sessions, we hope to push the boundary of thinking to inspire different stakeholders. Donors can play an important role in encouraging greater giving and I hope the next session will allow even deeper conversations

Joyce Teo, Executive Director, Centre for Applied Philanthropy, The Community Foundation of Singapore

This article was written by Joyce Teo, an executive director of Centre for Applied Philanthropy. Joyce leads the CAP team and works with donors and non-profit organisations to address the critical gaps in strategic philanthropy in Singapore.

References

[1] 2019 Household Budget Study: What older people need

[2] 2021 Household Budget Study: What people need in Singapore

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LIFT (Learning Initiatives for Employment) Community Impact Fund – Turning lives around, one step at a time

John Doe

Nothing in life prepares a youth for a negative doctor’s report.

Four years ago, in his second year of polytechnic, Jerry Tan experienced a stroke caused by a brain aneurysm that paralysed the left side of his body. He had to undergo three brain surgeries as well as physical therapy, staying in the hospital for five to six months.

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Jerry recounted his experience, “The doctor commented that he was lucky to be alive and even survive without becoming vegetative, as two aneurysms had burst in my brain. However, this incident left me with a limited function of my left arm and affected vision in both of my eyes.”

With his current disabilities, it would have been tough for him to obtain a job, especially since his studies were also put on hold. His turning point came when he received assistance from the Learning Initiatives for Employment (LIFT) Community Impact Fund (CIF). The LIFT Fund, managed by the Community Foundation of Singapore (CFS), provides social enterprise funding to enable disadvantaged groups to obtain training which will make them more employable.

The LIFT Fund had partnered with social enterprises Bettr Barista and Project Dignity, allowing for socially disadvantaged people to obtain subsidies in their training fees and to pick up both hard and soft skills which would better aid them in securing employment. From April 2020 to March 2021, the LIFT Fund saw 115 people to receiving training at either Bettr Barista Coffee Academy or Dignity Kitchen, of which 91 participants completed the full training course. Of those who had successfully completed the course, 73 people were successfully hired, with 55 managing to remain employed for more than three months. Jerry himself was a beneficiary of the LIFT Fund who eventually went on to work in a Japanese restaurant for about a year, before returning to Dignity Kitchen as a cashier due to the impact of Covid-19.

Joyce Teo, Deputy CEO of CFS shared “CFS mainly focused on these two social enterprises as they felt that both enterprises understood the needs of employers in the catering industry and had also achieved certain results in training and job matching for the disadvantaged. CFS hopes to provide them with long-term funding so they can expand their assistance to those in need, as well as conduct more systematic training to strengthen the skills of the trainees.”

She also hopes that more of the public would actively donate to the LIFT Fund and help those in need, especially when they open up the fundraising to their networks. If you would like to support someone in their journey towards sustained employment opportunities, please visit our donation drive on Giving.sg.

This translated article was originally published by Lianhe Zaobao.