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Make An Impact Beyond Your Lifetime
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Stories Of Impact

Stories Of Impact

Make An Impact Beyond Your Lifetime

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Francis Goh in a suit and tie

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

As a legal advisor on wills and trusts, I enjoy helping my clients make an impact beyond their lifetime. With legacy giving, one plans to make a gift to benefit future generations. It’s never too early to start planning, and it’s never too early to start giving.

Francis Goh encourages his clients to think of their Last Will and Testament as their love letter to the ones that they are leaving behind. “When a person realises that he or she is a beneficiary of your giving, it is that moment when that person whom you have chosen to bless feels the depth of your love and care,” says Francis, “If you choose to leave a gift to a charitable cause, it is also an expression of your concern for society.”

With nearly 30 years in active legal practice, Francis is currently a partner at Harry Elias Partnership. He heads both the firm’s Private Client Advisory and International Arbitration practices. In his work involving wills and trusts, he reveals, “I love helping people put their lives in order and to know that they have done their best to plan for those whom they leave behind.”

Apart from his legal work, Francis is also passionate about sharing his legal expertise with the wider public. A frequent speaker on subjects related to wills, probate, foundations and trusts, he also volunteers regularly with Law Society Pro Bono Services. 

Having advised individuals and business organisations on estate as well as business succession planning, Francis is an advocate for early and proper planning for those intending to make a legacy gift in their will. “Giving has to be part of an overall plan, taking into account the relative needs and your responsibilities,” remarks Francis, “Then the giving is meaningful. It becomes a joyous occasion and something to be remembered.”

These conversations will grow in importance, as more Singaporeans become mindful of their social responsibilities. “We’re seeing a generation in Singapore that has grown up in the good years. Many here have enjoyed a good life and they are now looking for purpose and meaning through sharing their wealth,” says Francis. 

Francis believes that “legal professionals have a big role to play in educating their clients about how they can leave a legacy and the impact that their gift can make beyond their lifetime.”

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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”。

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Opinion

Speech by CEO Catherine Loh at CFS’s 10th anniversary celebrations

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CEO Catherine Loh giving a speech

Minister Grace Fu, distinguished guests, ladies and gentlemen,

The power of informed giving
It’s wonderful to see so many of you here this evening. Thank you for taking the time to join us as CFS celebrates its 10th anniversary.

This is an exciting moment in CFS’s history. When I joined CFS six years ago, we had just survived our first few years as a startup. There was an air of promise as we reached out to more donors, but we had much to prove. In those early years, we didn’t have any marketing. Our donors grew mainly through introductions by the Board and Committee Members and recommendations by existing donors.

Fortunately, CFS has grown over the years to have a much wider reach in the public sphere. Today, CFS has achieved 113 donor funds, raised over $100 million and disbursed over $60 million to over 400 charitable organisations in Singapore.

If we consider the reasons for our success, I believe CFS has been able to earn the trust of donors who not only want to give more, but also want to give well.

By our very nature, a community foundation is a neutral body that can offer donors strategic advice, and a more insightful overview of community needs. As a bridge-builder, we can pool together local resources and channel resources into long-term impact. It also helps that we can work across all sectors, from social work to education to health, to arts and sports, heritage, the environment to even animals.

The entrance of a community foundation like CFS has transformed how philanthropy is approached. We have introduced new models of giving, to respond to an increasingly complex social landscape. We have championed philanthropy based on community needs, because we understand the power of informed giving.

Of course, our success in championing informed giving would not be possible without our charity partners. They work tirelessly on countless programmes that expand the possibilities of how donors can give well – whether it’s piloting new programmes or scaling programmes that have delivered clear impact.

Yet for philanthropy in Singapore to thrive, public-private support needs to work hand-in-hand to address the evolving needs of the community. Hence CFS has been successful in building trust and meaningful relationships between donors, charities and the public sector. A strong and developed philanthropy ecosystem is crucial to ensuring sustainable and impactful funding support.

A new generation of philanthropists
We are also glad to see a new generation of philanthropists who are taking on a more active role as agents of change. Singaporeans have become increasingly conscious and involved in social issues. Giving back now no longer begins at retirement, as many of our donors are still active in their professions, with many below 50. Donors are also becoming increasingly sophisticated. Many exhibit gumption to take on meaningful projects, a willingness to explore collaboration with a keen focus on impact.

But many of our donors are silent heroes, giving generously in the background. That’s why I’m particularly glad to see some of our donors sharing their stories on a larger platform.

Take for example CFS donor and board member Mr Keith Chua. His great-grandmother Mrs Lee Choon Guan supported education in the early 1900s for women and girls, at a time when education wasn’t always an option for them.

Today, Mr Chua continues her legacy of giving through a charitable fund with CFS. Following in her footsteps, he is making education and healthcare some of the key areas he supports. Mr Chua’s family reminds us that acts of giving may not just bear fruit in our lifetime, but can also leave a lasting legacy for future generations

I would like to encourage more of you to take the next steps in your giving journeys or step up to share your stories of giving – if only to inspire and encourage a bigger and broader community of givers, including the next generation.

The next phase
We are truly encouraged by the growth of effective philanthropy over the last decade. But I believe we are still only at the beginning of our journey to promote and facilitate meaningful giving.

While Singapore has progressed rapidly, the social challenges we face, from an ageing population to social inequality, have become more complex and interconnected. While the government tackles social issues on a large scale, there are always gaps that are in need of more support. It’s crucial for philanthropy to evolve to tackle these diverse issues within our community innovatively. Here’s how CFS plans to approach it:

Social problems are usually too large and complex for anyone to tackle them individually. Through initiatives such as Colabs and the Singapore Youth Impact Collective, CFS brings together various stakeholders to collaborate and co-create solutions to make greater impact.

We encourage donors to think about creating a legacy as living a life of generosity and making meaningful impact. Our legacy giving offering will be further formalised into an approach that can help donors address the needs of the community over the longer term.

The future of philanthropy includes an increasing focus on tracking to help us better assess the impact made on the community. So we hope to influence more charity partners to incorporate output and outcome tracking in their programmes.

In the years ahead, as CFS continues to spearhead philanthropy, I am hopeful that more people will come to embrace the culture of giving, as it is integral to building a more caring and cohesive nation.

I wish to thank MCCY for its support of CFS, for helping us grow a giving culture to benefit all Singaporeans and to raise the professionalism of our sector.

To our donors, thank you for your trust and generosity that has opened doors of opportunity for so many in our community.

To our charity partners – thank you for your inspiring work. We’re grateful for your dedication in creating programmes that truly make a difference.

My gratitude goes out to the CFS Board and committee members – past and present – for your vision and guidance that has shaped CFS to the organisation we are today. Special mention and thanks to four of our founding Board Members– Ms Madeleine Lee, our first Investment Committee Chairperson. She was instrumental in developing our investment mandate and establishing our investment portfolio, which has outperformed its benchmark since inception. Thanks also to Mr David Lim, our first legal advisor who drafted our M&AA. My thanks and appreciation to Mr Yeoh Oon Jin, our first Audit Chair for setting up our very rigorous audit framework. I would also like to thank Dr Mary Ann Tsao, who together with Laurence, has contributed enormously to CFS’s grantmaking expertise as well as our understanding of community needs. Having proper governance, accountability and professionalism is crucial to gaining the trust of our donors and ensuring that their donations go to those in need of funding.

I would also like to pay tribute to Mr Stanley Tan and Mr Laurence Lien, two individuals who have guided CFS to where we are today. Both Stanley and Laurence are deeply motivated by their belief that philanthropy can play an instrumental role in creating change. I am honoured to have been able to work with both gentlemen, building on their knowledge and experience, and growing the organisation they started.

Last but not least, a big thanks to my team, the people behind CFS, for your hard work, professionalism and dedication, thank you for bringing your best to CFS every day.

To everyone who believed in us when CFS first started 10 years ago, thank you for being the bold frontrunners in our journey.

We look forward to your continued belief in us to build a more cohesive and caring Singapore.

Catherine Loh
CEO
Community Foundation of Singapore

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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

Where there’s a will, there’s a way … to give a legacy

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John Doe
people of different races and ages socializing and catching up at a local cafe.

Where there’s a will, there’s a way … to give a legacy.
(Adapted from opening remarks at a Community Foundation of Singapore-LSPBS “Legacy Giving” Webinar on 1 September 2020.)

Legacy giving is one of the best kept secrets in town. For many years now, I’ve often wondered why more charities had not jumped on the bandwagon of legacy
giving. Why aren’t charities proactive in encouraging individual donors to give legacies whether via wills, CPF nominations, or even insurance policies? Examples
abound overseas. I saw firsthand one such stellar example of a pro bono law firm utilizing this modality of legacy giving during our Law Society “Lawyers Go
Global” mission trip to Sydney in 2018.

We went to Sydney as a team to learn from cutting edge innovative Sydney based law firms on law firm models harnessing technology and niche services in order to consider adopting or adapting them in Singapore. The law firm that left a deep impression on several of us in the team was Salvos Legal, affiliated with the Salvation Army. They offer humanitarian legal services and have an outstanding history and genesis you can research on. They combine the best of both worlds in fee earning lawyers sitting side by side and working hand in hand with pro bono legal practitioners. Fee earners cross-subsidise the provision of pro bono legal services. It was a joy to see both pro bono practitioners and fee earners working harmoniously in a single setting and committed to doing good (directly or indirectly) as a firm.

Salvos Legal turned legacy giving to charities into art form. They use radio announcements and organise Community Wills Days (where generous local solicitors
prepare simple wills in return for a donation to the Salvos). They have built up a fair amount of expertise and essentially encourage the public to donate via legacy
giving.

In Singapore today, death is still a taboo topic in some quarters. As an aging society with a silver tsunami, we need to speak about this elephant in the room. We need more discourse about prudent asset stewardship, legacy giving and planned and sustained giving long after we have left the earth. From the charity’s point of view, this could represent a creative fundraising modality. Indeed, local charities such as the Kidney Dialysis Foundation and the Singapore Children’s Society have started using donation via legacy giving. Closer to home, recently, to commemorate the life of CLAS founder, visionary and architect, the late Harry Elias SC, the Law Society Pro
Bono Services in collaboration with Harry Elias Partnership have set up the Harry Elias SC CLAS Fellowship Fund. This Fund is a continuing and cherished memorial to Harry that will fund expenses arising from the CLAS Fellowship such as their remuneration and practice-related costs to ensure that young lawyers have a glorious
opportunity to follow in the footsteps of legal legends and trailblazers like Harry E.

For the gift-giver, legacy giving has four distinct, discernible advantages. First, it allows the donor to give their own voice to their unique personality, values and beliefs
for pet causes. Second, it creates a meaningful memorial of legacies that will perpetuate. Third, it positively impacts subsequent generations through a sustained
giving. Fourth, it deepens the connection between the charity and the donor.

Where appropriate, probate, wills and administration specialists, private wealth law experts and general practitioners in client advisories could suggest legacy giving to clients.

There are nuanced issues to consider for the donor and the attending lawyer. The form of the giving, whether it’s memorial giving, legacy giving and so on, and the
attendant risks involved. I shall not gloss over this aspect. Questions that need examining include: (1) how do you communicate to the testator or testatrix (person
making the will)? (2) are the template clauses appropriate to express the donor’s wishes? (3) what about the testator’s/testatrix’s mental capacity; or more precisely,
testamentary capacity? (4) from the donee charity’s point of view, what are the risks in accepting such gifts? These issues are fact-sensitive, complex in some cases and need careful analysis to avoid something going wrong (including misexpression of the testator’s/testator’s wishes).

The old saying goes, where there’s a will, there’s a way. But the new saying I have for you is where there’s a will, there’s a way …. to give a legacy. You can have the nous and the know-how, to find that way for your donors. Legacy giving leaves a legacy for life.

Source:Law Gazette

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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

Retired doctor donates $1m to start new donor-advised fund

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John Doe
two elderly climbing up stairs

Dr Chua, a retired doctor, 80, gave $1 million to start the Bamboo Lotus Fund with the Community Foundation of Singapore (CFS) in July after being inspired by another retiree’s donation of $1 million to start a charitable trust that he did the same thing. 

Describing himself as an “ordinary” general practitioner, and not a “highly paid medical specialist”, Dr Chua said: “I hope (my example) dispels the myth that only prominent individuals or corporate organisations can make significant donations. “To me, $1 million is a significant amount that will get others to notice and start to consider how much they can give too.”

Dr Chua, who has a daughter, said that helping others comes “naturally” to him and his family. Over the years, they have given “small contributions” to charity. But when he turned 80 this year and felt he may not “have many years left”, he decided to help in a more substantial way.

He plans to help disadvantaged women and families, and the arts and heritage through his new fund.

The retired doctor says bamboo, which signifies resilience, is his favourite plant, while lotus is one of the characters of his wife’s Chinese name. Thus, the Bamboo Lotus Fund was born.

It is one of 165 donor-advised funds under the Community Foundation. Donors pledge at least $200,000 to set up a fund. The foundation manages the money, advises donors on the needs in the community and disburses the funds according to their wishes.

CFS chief executive officer Catherine Loh said the number of donor-advised funds started to grow exponentially several years ago. At the start of 2018, there were 110 such funds. The biggest donors have given more than $20 million to set up their funds.

It took 10 years for the CFS to attract $100 million in donations for all the donor-advised funds set up by various individuals or companies. But it took just the past three years for that sum to hit $200 million, Ms Loh said.

The CFS was ranked third in a report on the 10 largest philanthropic foundations here.

Ms Loh said: “Through times of crisis like the pandemic, individuals have become more open and willing to give more sustainably to make their giving more meaningful.”

A growing awareness of the CFS’ track record has also attracted more donors to set up such funds.

They include successful professionals, retirees or individuals who are semi-retired, and companies.

They give to a wide range of causes, with mental health and the environment among those growing in interest, Ms Loh said.

Since its formation in 2008, the CFS has given out $122 million in grants to a variety of needs.

Dr Chua said: “I hope that this will inspire others in my profession or people of my age, to also donate their money before we pass on.”

To find out more about Legacy Giving, visit us at Legacy Giving or contact us 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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