Stories Of Impact
Following His Calling In Planned Giving
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Stories Of Impact

Stories Of Impact

Following His Calling In Planned Giving

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Allen Lim holding a microphone

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

As a trainer at the Insurance and Financial Practitioners Association of Singapore (IFPAS), I found my calling in the field of estate planning and planned giving. Giving is a good intention; planning is a wise action; and planned giving ensures you can leave a legacy and take care of your loved ones.

Do you need to wait until you are wealthy to start giving? For Allen Lim, the answer is an emphatic no, but with one distinct caveat. “It’s very important that giving takes into account your and your family’s financial security,” insists Allen, “That’s why planning is crucial, because with the right strategy, you can do both.”

Though Allen says his father’s ways never threatened his family’s security, he also saw how his actions sparked disputes with his mother. That’s why as a financial professional today, Allen advocates taking the middle way.

Having found his “calling” as a trainer in planned giving, he is enthusiastic about raising awareness on this area of practice amongst financial advisors. His days as the Head of Training and Education at the Insurance and Financial Practitioners Association of Singapore (IFPAS) include everything from curating courses on planned giving to lecturing on the latest methodologies.

“Many financial advisors today stop at estate planning. Planning giving goes one step ahead,” reveals Allen, “Through holistic financial planning, a professional can help ensure that giving does not compromise the financial security of the family, while also strategising the most effective asset to complete the giving intention with the best possible outcome.”

And with Singapore’s changing demographics – from a greater number of singles to couples without children – more wealth is being directed outside of one’s family. Allen says financial advisors need to keep up with these trends and engage in these changing conversations.

“Planned giving is an important part of the equation,” he says, “Not only does it help deepen your relationships with your clients, helping to grow the number of legacy gifts to benefit our charities could contribute to well-being in our society.”

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Opinion

Sustainable Philanthropy Matters: The History of Caring and Charity

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poster about sustainable philanthropy: the history of caring and charity

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.

Believe it or not, philanthropy and sustainability are concepts that have been around for millennia. Our forefathers understood the need for charity and living with the future in mind long before we had frameworks and modern models for them.

Examining the Roots of Giving

Although the word philanthropy, or philanthropia as the ancient Greeks called it, first emerged about 7000 years ago, it meant a love for one’s fellow people, not so much the donation of drachmas.

In fact, it was not until about 5000 years later, as described in the Bible, that a form of community where those who shared what they had with those who had not really began. Although some may argue that this was communism, not charity; however, this was an early record of giving resources to help those in need. While the term sustainability seems like a pretty modern buzzword, elements of this actually existed 3,000 years ago. It was discovered that humans in the late Neolithic period had developed a method of sustainably obtaining their firewood, avoiding deforestation and ensuring they would always have a way to keep warm (Dufraisse, 2008, pp199-210).

This could be said to be the distant ancestor of the 1713 Principle of Saxony formulated by Hans Carl von Carlowitz. His forestry treatise discussed the “continuously enduring and sustainable use” of the forest for wood (World Ocean Review, 2015).

Philanthropy in the Present

Giving to others has continued to exist till today, expanding from religious origins to permeate many facets of society. Tithes still exist but now one can donate through the Government or via non-profit and voluntary welfare organisations. The range of beneficiaries has also expanded, with those in need ranging from children and people with disabilities to isolated seniors, ex-offenders and so much more. The underlying commonality is that they are almost always in financial need of some sort. And it is the act of giving a monetary donation to support these beneficiaries that is the philanthropy we have come to know today.

However, evidence of financial contributions towards the environment only came along in the middle of the 20th century. It began in 1941, to be exact, with Rockefeller funding conservation activities across the United States, amongst his numerous other philanthropic efforts (Rockefeller Brothers Fund, 2022). And it was only seven years after that that the International Union for Conservation of Nature—the oldest environmental organisation in the world, mind you—was only established on 5 October 1948.

The Purpose of Philanthropy and Planning Ahead

For those who give, whether to social or environmental causes, there is a variety of reasons as to why we do so: a sense of obligation, concern over a particular issue, a desire to see a better future and, yes, even tax relief. It is alright to be pragmatic!

However, giving towards social causes has a deep-seated, almost unconscious need to grow the community. From ancient times, we humans have understood the strength in numbers, which is why we formed communities, or tribes as they were called back then.  

However, in banding together, there was an inevitable strain on resources. This created the need to be responsible for how we consumed our natural resources and, in a larger sense, be mindful of how our actions impacted the environment.

Charity + Conservation = Sustainability

Without the ever-present danger of a larger tribe taking over our own, or at least not in Singapore, there is little direct and personal benefit to us as a donor, apart from tax deduction and a sense of well-being.

We give simply because we care. That is the link between the two.

Whether it is towards social or environmental causes, community or green philanthropy, our contributions show that we care for others. It could be for the present, through financial assistance for daily living for instance, or for future generations, through conservation efforts. Because, after all, the children of our children will need a liveable world in which to grow up.

It can be a little daunting, given the sheer range of needs that society faces today, to consider also the needs of those who have not yet been born.

Leave a Legacy

Thankfully, the world (and its needs) does not rest on one’s shoulders alone. With years of experience in studying philanthropic trends and working to understand the needs of the community and environment, The Community Foundation of Singapore (CFS) can help you add your footprint to humankind’s long and ongoing journey of giving.

We value the creation of positive impact while keeping in mind the bigger picture of how the contribution will create sustained change.

At CFS, we steward our donors, through their funds, to make their mark on our community and our planet. Whether they contribute today or over the years, it will be their legacy. To find out how you can leave your legacy for tomorrow, please visit here.

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. Alexa Dufraisse. (2008). Firewood management and woodland exploitation during the late Neolithic at Lac de Chalain (Jura, France). Vegetation History and Archaeobotany 17(2).
  2. World Ocean Review 4. (2015). Sustainable Use of Our Oceans – Making Ideas Work. https://worldoceanreview.com/en/wor-4/concepts-for-a-better-world/what-is-sustainability/
  3. Rockefeller Brothers Fund. (Accessed 2022). Conservation and the Environmenthttps://www.rbf.org/about/about-us/conservation-and-environment
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Opinion

Our Annual Report 2023 is now available for download

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CFS Annual Report 2023

We are excited to share the release of the Community Foundation of Singapore’s (CFS) Annual Report for 2023.

With the overarching theme of ‘Creating a Better Tomorrow Together’, the report highlights the work done to inspire and facilitate strategic giving to benefit our local community. We showcase the enhancements we have made to our service offerings, governance standards, and operational efficiencies over the past year. It stands as a testament to CFS’s unwavering commitment to proactively identify and address emerging community needs, and our experience and expertise that enables us to drive tangible impact.

Here are some key highlights from the Annual Report 2023:

A Year of Steady Progress:

Against a backdrop of slower economic growth in 2022, donations remained high and our rolling three-year average continued on an upward trend. Our community of dedicated philanthropists continued to grow. Through strategic partnerships with corporations such as Accenture, Endowus, and other institutions, we harnessed a wealth of expertise to amplify our impact. 

The past year marked a significant milestone, with 47 new donors establishing 27 Donor-Advised Funds (DAFs). Their generous contributions allowed us to allocate $16.8 million in grants to 212 organisations spanning diverse causes, demonstrating the incredible power of collective giving.

In collaboration with the Agency of Integrated Care (AIC), we launched the FUN! Fund, a community impact fund focused on improving the well-being and happiness of our seniors through innovative programmes designed to infuse fun into their lives.

Making a Greater Impact:

In 2022, CFS took significant strides towards ensuring outcome-driven grantmaking. Our grant framework now places a strong emphasis on measurable change, ensuring greater impact for both our donors and charity partners.

Throughout the year, CFS’ Centre for Applied Philanthropy (CAP) played a pivotal role in fostering collaboration across public, private, and community sectors to address complex social challenges. This collaborative approach will gain even more momentum in 2023.

With sustainability advocacy being one of our key focal areas, we strengthened our ESG framework. This involved aligning our programmes with the United Nations’ Social Development Goals, a move that underscores our commitment to making a lasting positive impact.

The potential of philanthropy lies in its capacity to bring about enduring, positive change. As we look back on the year and observe the significant impact made possible by the support of our donors, we find inspiration to continue our efforts. Our grants have helped to improve the lives of many, including refugees seeking to rebuild their lives, youths in need of mental resilience, disadvantaged students receiving evidence-based after-school tutoring, dementia patients receiving specialised care, marginalised job seekers receiving coaching and training, and nurturing the next generation of climate champions. 

Connect with Us: 

CFS is deeply committed to advancing strategic philanthropy, and positioning Singapore as Asia’s philanthropy hub. To achieve this, we actively serve as an Enabler, Steward, Convener, and Advocate.

We are eager to connect and collaborate with donors, charities, partners, and sector leaders to build a more compassionate, caring, and inclusive Singapore. To learn more about CFS or join us on our mission, we welcome you to get in touch.

For an in-depth exploration of the year’s milestones and the impact of our contributions to the community, click here to download your copy.

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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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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

Money Mind – Leaving A Legacy

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Two female individuals can be seen in the picture, both dressed in red shirts and holding a volleyball ball.

How can you leave your mark on the world and make an impact on the lives of others?

LISTEN: Catherine Loh, CEO, Community Foundation of Singapore (CFS); lawyer and CFS ambassador, Nadia Ahmad Samdin

Money Mind, weekdays 10am to 2pm on #CNA938.

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”。

Picture of admin bluecube
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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.

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