LEGACY had always mattered to David Lim but in the years leading up to his 60th birthday, he began reflecting on how to make a more lasting impact.

The leadership coach and former mountaineer had long linked his climbing pursuits to charitable causes. Lim led Singapore’s first expedition to Mount Everest in 1998, but was left partially disabled after returning from the climb due to a rare nerve disorder.

Though he recovered, the nerves in his legs were damaged and he now relies on braces to walk.

His experience with illness deepened his empathy for others with disabilities, and he became a long-time supporter of organisations like SPD (formerly the Society for the Physically Disabled).

“I don’t have children, but I do have people I want to help. Setting up a fund is a long-term approach that aligns with my values,” he says.

However, the semi-retired entrepreneur realised that setting up a personal foundation often comes with high operating costs, legal complexities and administrative burden – unless you had “personal wealth of $100m”, adds Lim.

Then he discovered the Community Foundation of Singapore (CFS), a one-stop platform that helps donors give meaningfully through donor-advised funds (DAFs).

Established in 2008, CFS is Singapore’s first community foundation and a leading provider of structured giving solutions. By connecting donors and charities, CFS philanthropy advisors help individuals turn passion into purpose.

Besides cash donations, donors can nominate CFS as a beneficiary of insurance policies, CPF funds, shares and property.

How to start your giving journey

You, too, can build a meaningful legacy through a donor-advised fund (DAF) with the Community Foundation of Singapore (CFS).

What is a DAF?

A donor-advised fund is a flexible giving account that lets you support charities of your choice, at your own pace. CFS handles the administration and grant-making, so you can focus on making an impact.

How much do I need to start?

You can set up a named DAF with a minimum of $200,000, contributed all at once or gradually over five years.

What causes can I support?

You can support specific charities or broader causes through pooled donations. CFS supports over 400 registered charities across 13 cause areas, including:
• Disability support
• Animal welfare
• Children and youth
• Mental health
• Migrant support
• Environmental sustainability

A cause-neutral platform

Michael Binger was also looking for a sustainable way to give back. The sports industry veteran often donated money or equipment to charities in his field, but wanted to create a more lasting impact.

He found the process of identifying worthy causes and navigating charity requirements daunting. It was through his bank relationship manager that the Singapore permanent resident discovered CFS.

A meeting with the CFS team convinced him it was the right fit. “It was eye-opening. CFS made it easy in terms of administrative set-up and gave me a choice of accredited organisations, so you know the money is really needed,” says Binger.

As a cause-neutral philanthropic advisor and grantmaker, CFS lets donors choose what to support and evolve their giving over time.

For both Binger and Lim, flexibility and convenience were key. With a minimum sum of $200,000, donor-advised funds offer the freedom to decide who to give to, how much and how often. The sum can also be built up gradually over five years.

Through CFS, Michael Binger has backed programmes at Boys’ Town, a charity supporting vulnerable youth. Photo: Michael Binger

Flexible and personalised giving

Lim spent a year weighing his options before setting up his donor-advised fund in 2021. The process took less than a month.

DAFs are flexible – donors can contribute at their own pace and choose different charities to support each year. Lim alternates between funding animal welfare groups and persons with disabilities groups, and has also supported projects like wheelchair repair and robotic therapy devices.

“It was a very customised, curated experience. They did another Zoom call to present the charities and causes, highlighting certain ones that you have never heard of, like a small charity with volunteers who repair and renovate used wheelchairs,” he says.

For all the sound advice and administrative support, he was pleasantly surprised by the “tiny” sum of one per cent that CFS takes from donor-advised funds to cover their expenses.

Binger shares that he does not view the minimum sum of $200,000 for his DAF as a hurdle since it can be contributed over a period of time, and can be handled in a flexible manner.

His passion lies in charities that support underprivileged children, isolated seniors and migrant workers, whom he feels may have suffered mentally during the Covid-19 pandemic.

He also attends on-site trips organised by CFS to charities that match his interests. “It is important to me to have a personal link and a context that makes me jump in. These donor learning trips make you more aware of what’s out there,” he says.

From site visits to tailored advice, CFS supports donors at every step of their giving journey. Photo: Community Foundation of Singapore

But Binger says that setting up a DAF depends on the stage that you are at in life, your family situation and your financial background.

“It’s not that you have to give a huge amount every year. CFS also has umbrella causes where it distributes funds to a few organisations. For this, you don’t have to give high amounts,” he says.

Lim agrees but adds that any legacy giving needs a frank family discussion as well as a lot of retirement planning. He says: “You can do a one-off donation. You don’t need millions.

“I know my fund isn’t huge, but if it helps save 20 cats or dogs, or supports a disabilities charity, that’s life-changing for them.”

Speak to a CFS advisor to learn how donor-advised funds can help your giving go further.