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CFS Change Matters Series: Mens, Manus and Machina – How AI Empowers People, Institutions & the City in Singapore
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Events

CFS Change Matters Series: Mens, Manus and Machina – How AI Empowers People, Institutions & the City in Singapore

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Charitable Business professionals standing before a screen.

Artificial intelligence (AI) will be a disruptive influence on society, for good as well as ill – and there is a duty to provide a sense of hope, upfront, that humans will be able to prevail.

That was the core message of the inaugural CFS Change Matters Series talk, “Mens, Manus and Machina – How AI Empowers People, Institutions & the City in Singapore”. It was delivered on 21 June 2023 by Professor Jinhua Zhao, Associate Professor of Transportation and City Planning at the Massachusetts Institute of Technology (MIT).

“Mens”, “manus” and “machina” are Latin for “mind”, “hand”, and “machine” respectively, and the title plays on MIT’s motto, “mens et manus”. The title of the talk is also the name of a multi-disciplinary collaborative project between MIT and Singapore’s National Research Foundation. The collaboration is co-led by Prof Zhao, and aims to address the following questions:

  1. How will we design technology and train humans to build the skills and habits for human success in a robotics-heavy environment?
  2. How will we adapt our social and business institutions to create the incentives and protections for innovation and human welfare?

In his talk, Prof Zhao shared four key insights into AI.

1. AI will transform, rather than reduce, demand for workers

Enablement, not elimination, of workers

The aftermath of the Industrial Revolution (1760-1840) saw the rise of the machine, leading to a major change in the way we worked. This did not, however, reduce overall demand for workers.

Citing economist James Bessen, 1 Prof Zhao noted that the number of ATMs in the USA grew rapidly from the 1970s, when the first ATMs were installed in banks. However, the role of the bank teller was not eliminated, but enabled. Bank tellers now focused on value-added services centered on human interactions, which could not be replaced by ATMs. As such, the number of bank tellers increased.

Employment grows along with automation

While automation has led to displacement and job loss, there has historically not been a fall in overall employment. Increased productivity from automation, as well as the growth of new human desires over time, have created entirely new jobs and industries.

This has led to an overall increase in employment; in fact, the 2018 US Census counted that more than 60% of jobs in 2018 had not yet been “invented” in 1940.

2. AI is not all the same

Expert versus Learning Systems

AI systems generally fall into two categories: expert systems and learning systems.

  • Expert systems rely on predefined rules and a knowledge base to mimic the expertise of specialists.
  • Learning systems, such as machine learning, mimic the way the brain learns and processes information.

Discriminative versus Generative Models

In addition, AI systems mainly adopt either a discriminative or a generative model in relation to their inputs.

  • Discriminative models classify or discriminate between different inputs, based on their features.
  • Generative models learn the patterns and relationships within the data input to generate new samples that resemble the original data.

The ubiquitous ChatGPT, for example, is a Large Language Model, an example of a generative model AI that can produce human-like chat responses.

3. The real impacts of AI on society

AI will replace white-collar jobs, not blue-collar jobs

While the Industrial Revolution replaced manual workers, AI’s superior analytic and generative skills enable it to replace white-collar jobs like office workers and scientists.

For example, a Google-developed AI known as AlphaFold was able to significantly outperform human scientists in the field of protein structure prediction – a feat normally requiring decades of expertise from humans.

As such, it is “highly skilled” white-collar jobs that may be at risk from AI – a concerning proposition for developed economies that depend heavily on these jobs.

The response of social institutions will determine the impacts of AI

The impact of AI does not occur in a vacuum. Tapping the beneficial impacts of AI on living standards depends on how successfully social institutions can take advantage of it. For example, society must continue to be responsible for providing financial safety nets for those displaced by AI, and for caring for seniors who may find it harder to adapt.

These institutions must also respond to not just the economic challenges, but the social challenges of AI. Citing the intellectual Yuval Noah Harari, Prof Zhao noted that generative AI, for example, could destroy the ability for people to have meaningful conversations – and undermine democracy in the process.2

4. Science, government, and individuals can respond to AI productively

Science can help us control AI

Science must solve the alignment problem3 in order to develop beneficial AI – which takes only actions that achieve human objectives and preferences. Otherwise, AI could unintentionally act in a way that is destructive and harmful to humanity.

Governments can educate humans to fill areas that AI cannot

While AI is powerful, it is not superior to humans in all areas. Humans are better than AI at:

  • Creativity: being able to apply knowledge from one area to another area
  • Dexterity: tasks involving manual dexterity
  • Social intelligence: conducting “social negotiations” with humans, such as knowing when it is safe to turn while driving
  • Long-term planning: being able to break long-term plans (e.g. a 5-year plan) into shorter increments

With that in mind, governments should focus education on creativity and communication, as well as critical thinking: the ability to judge, and to ask the right questions. This prepares students to become evaluators, directors and planners, instructing AI to act on their goals.

The role of teachers will also change as AI evolves and becomes deployable at scale as an individual, customized teaching assistant. AI will enhance students’ learning and help teachers understand students; teachers will be tasked with socially engaging, empathizing with, and supervising students, rather than merely delivering content.

Individuals can change their mindsets to be resilient in the face of AI

Finally, the impact of AI, and job displacement, on individuals will not purely be economic. It will be personal as well, given how central work is to our social and emotional lives, and to our sense of purpose.

Individuals can make the following mindset changes, in order to be resilient:

  • Adopting a lifelong learning mindset: this means developing new skills while working, rather than focusing on academic learning as preparation for work.
  • Adopting a flexible mindset: understanding that while change is the new normal, humans have always had the capacity to adapt. This is especially important for youths.

Final thoughts: how philanthropy can respond to AI

Philanthropists reading this may wonder: how do I respond to the challenges posed by AI? CFS is Singapore’s first community foundation, with 15 years of experience and a network of over 400 charity partners. We leverage our experience and grantmaking expertise to identify and evaluate key opportunities for individual and corporate donors to make greater impact.

We think the following giving approaches may be valuable to respond to AI:

  • Supporting seniors to age well in the community, so they remain cared for and are not left behind.
  • Enabling youths to access quality education, through schools and Institutions of Higher Learning, and prepare for the AI-empowered future.
  • Funding efforts to improve employability, so that individuals develop the skills they need to keep working.
  • Ensuring that mental wellbeing is supported, to help individuals build the resilience to cope with changes.
  • Tackling climate and environment issues, to mitigate and adapt to this additional source of negative disruption.

To find out more about CFS and our leading role in Singapore’s philanthropy ecosystem, please click here.

CFS would like to extend our heartfelt gratitude to our donors Oliver Kwan and Helen He from the Evergreen Changemaker Fund for their invaluable support and extending the invitation to Prof Zhao, which made this event possible.

References

1 Bessen, James. “Toil and Technology.” Finance & Development 52, no. 1 (March 2015): 16–19. https://www.imf.org/external/pubs/ft/fandd/2015/03/pdf/bessen.pdf.

2 “Yuval Noah Harari Argues That AI Has Hacked the Operating System of Human Civilisation,” The Economist, April 28, 2023, https://www.economist.com/by-invitation/2023/04/28/yuval-noah-harari-argues-that-ai-has-hacked-the-operating-system-of-human-civilisation.

3 The problem of aligning AI with humans’ objectives and values.

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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Events

Impact lives through savvy giving

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Make savvy giving a legacy in your life: that was the clarion call to around 100 donors, charities and partners at the Community Foundation of Singapore’s (CFS) Lunar New Year lunch held in February.

“Being savvy in giving is about going beyond the usual traditions of supporting general fundraising campaigns, to deliberately taking charge of generosity,” shared Christine Ong, Chairman of CFS in her opening speech, “It’s about planning and thinking deeply about how to create a powerful effective result, to improve things and impact lives.”

Signaling a new phase for CFS in her first year as Chairman, Christine outlined CFS’s ambition to nurture “a nation of savvy givers” to create a more caring Singapore.

“The signature of a savvy giver or philanthropist, is to be bold and informed, curious and committed, and enthusiastic about putting into practice their beliefs and hopes for a better world,” she explained.

To this end, Christine highlighted that CFS would work on championing new giving by reaching out to donors and making giving easy and meaningful. Moving forward, CFS would also continue to drive collaboration for change, provide professional learning opportunities to the local sector and develop CFS’s organisational culture and capacity.

The lunch also saw the announcement by CFS for a new nationwide Legacy Giving Initiative – an ambitious project to help donors making savvy giving a legacy in their lives.

CFS wants to make legacy gifts a social norm in Singapore, and for donors to consider giving at every stage of their life journey.

The three-year initiative will be launched in the latter half of 2020. It aims to reach out to three audiences: donors, professional advisors and charities by promoting awareness, building and sharing knowledge and supporting action.

As Singapore’s only community foundation, CFS is fortunate to build on over 11 years of experience, to bring donors, charities and other stakeholders together.

Rounding off the lunch, CEO Catherine Loh thanked CFS’s donors, Board, partners and charity partners for their support as CFS turned a new page in its history. “We will be embarking on new initiatives and pursuing innovations as we build towards the future. Our Legacy Giving Initiative will further strengthen CFS’s position as the go-to philanthropy resource in Singapore, benefitting donors and charities alike,” she shared.

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.

Opinion

How Donor-Advised Funds (DAFs) present an innovative and structured solution to Singapore’s philanthropic landscape

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A history of giving in Singapore and its philanthropic landscape

Philanthropy has seen an evolution over the years, which saw a corresponding increase in family support services due to the development of more HDBs to house our growing population.

As the philanthropic landscape developed and progressed, there was a more targeted response in the 90s by philanthropists seeking to fill in the gaps in philanthropy and wanting to have more of a say in order to shake up the system.

As a result, CFS was founded to promote philanthropy, seeing as philanthropists were stepping up and starting family foundations, and how Singapore has a very active philanthropy landscape in spite of its size.

To date, the current number of charities in Singapore stands at over 2000. However, it was not only charities that received donations but also social enterprises and ground-up groups, especially during the Covid-19 period.

There are very stringent processes to achieve a charity status, charities in Singapore are generally well managed and of the 2000 charities, 600 have attained an IPC status.

“Singaporeans have also been extremely generous thus far, and gave a total of 1.9 billion in 2019. This generosity is an important focal point, as there is an onus and more incentives for charities to work directly with philanthropists and givers to come up with new and innovative programmes,” says Catherine, CEO of CFS.

Donor-Advised Funds (DAFs) and CFS’s role as a community foundation in Singapore

CFS’s role as a community foundation in the philanthropic ecosystem is to enable philanthropy, foster giving and promote values such as the Legacy Giving Initiative (LGI). The LGI is a concept that anyone in Singapore, regardless of status and wealth, can leave a legacy by giving to a cause close to their heart.

As philanthropy continues to evolve, donors have become more discerning and want to know how the impact of their philanthropy is measured.

There is also a need for philanthropy in Singapore despite it being a wealthy city state, as there is still relative poverty and thus a need to uplift every segment of the nation. There are key issues that need support and funding in Singapore, three areas of which are our rapidly aging society, social income inequality, and inclusivity and sustainability; where people with disabilities and environmental issues need support.

CFS is also seeing an increase in international donors in Singapore, which could be Singaporeans looking to expand their overseas businesses in Singapore, or foreigners setting up family offices in Singapore.

By partnering with CFS, a donor can establish a named donor-advised fund (DAF), a modern philanthropy tool.

A DAF is a simple and cost-effective way to support a wide range of charities in Singapore. CFS will handle the fund administration and provide philanthropy advice to ensure that our donor’s giving makes a strategic impact to the causes that our donors support. 

With a DAF, donors can enjoy upfront tax deductions in Singapore at the prevailing tax deduction rate1 on eligible donations.

1Subject to IRAS regulations. 

How to get started? 

DAFs can be set up by an individual, a beneficiary of a will, a trust, or by a family office. 

CFS philanthropy advisors will inquire about the donor’s interests and leveraging on deep understanding of local issues and extensive network, CFS has unparalleled insight into Singapore’s charitable landscape and community needs to translate the donor’s interests and goals into a defined plan.

CFS handles all the administration required in managing the DAF, donors will save on legal expenses and enjoy tax deductions upfront. Donors will also receive regular statements tracking incoming donations to the DAF and outgoing disbursements to charities.

CEO Catherine Loh gives a WMI-GFO Circle Impact Masterclass on CFS’s role in philanthropy in Singapore 

CFS’s CEO Catherine Loh was invited as a guest speaker and part of the panel to speak about CFS and philanthropy in a WMI-GFO Circle Impact Masterclass webinar organised by the Wealth Management Institute (WMI) titled ‘Global Giving, Asian Innovation’.

The webinar’s aim is to address how philanthropy can support the greatest issues of our times, including issues stemming from ever-rising income inequality and climate change, to the health of our civil society and the pandemic.

The panel presentation hopes to empower family office principals, representatives and philanthropy advisors to help their clients achieve their philanthropic goals, and offer best practices, tips, and considerations for advisors serving philanthropists and their family offices.

If you would like to begin your giving journey with CFS, get in touch with us.

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Stories Of Impact

Celebrating women who give in different ways

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John Doe
A woman and two girls, wearing joyful expressions, pose happily in front of the camera.

It is seldom that we honour the accomplishments of women who give their all without asking anything in return, whose humanitarianism managed to achieve great success against all odds.

International Women’s Day is one such day of reflection and remembrance of the efforts of women all around the world, both past and present. It looks back on the struggles of women from the past like Rosa Parks, the ‘first lady of civil rights’, who strove for an equal and fairer society to empower the women of the future.

Yet, it is not only about women who are notable and have achieved great fame. It is also about the unsung, ordinary women in our society who give back in their own humble ways. The Community Foundation of Singapore (CFS) works alongside many of these women who contribute in their own capacities and in different societal roles.

A CEO who cares

CEO of Home Nursing Foundation Dr Christina Tiong finds a great love for philanthropy through leading Home Nursing Foundation, the largest and most established home healthcare service provider in Singapore, which CFS donors have supported since 2011.

She first started her journey in philanthropy during a clinical attachment as a medical student. It left an indelible impression on her when she saw home care nurses faithfully visiting and patiently caring for severely debilitated, bedbound patients living in dismal home environments, while also providing practical help, comfort and relief to their family members.

Helping out in medical missions at a rural clinic and drug rehabilitation centre in northern Thailand, as well as urban mobile clinics in Philippines strengthened her resolve to give back in whatever way she could.

During these missions, Dr Tiong was impressed by how determination and ingenuity could stretch limited resources to accomplish much more than back home in Singapore. For instance, the efficient use of donated drugs and the setting up of a makeshift diagnostic lab with x-rays in a rural mountainside with little infrastructural support.

After graduating and practising in various specialties, Dr Tiong was thankful to be awarded a scholarship from the Ministry of Health Holdings to study Public Health in Harvard. This gave her additional skillsets to lead and run healthcare organisations.

“This opened up many exciting opportunities for me to apply my clinical and administrative experience and build the community care sector, which was relatively neglected but now rapidly growing to meet the health needs of the ageing population sustainably,” Dr Tiong explains.

Her hope is to build a purpose-led and joyful work culture at Home Nursing Foundation. She would like for each person in the Foundation to be encouraged to give of their best, to empower patients and their families through home care services to live with dignity and joy at home.

A social worker with a heart of gold

Sim Chunhui found her calling to give back in her own ways as social worker in 2012, when she joined Habitat for Humanity Singapore. The housing charity, which helps families and homeowners with limited means to increase their access to improved living conditions, has received much support from CFS donors.

Prior to becoming a social worker, Chunhui had 10 years of working experience in the meetings and conventions sector. It was in her late 20s when she started exploring her faith seriously, and having just completed a part time degree, was at the crossroads of her career. After much praying and soul-searching, Chunhui decided that having been blessed in many aspects of her life, it was her turn to pay the blessings forward to others.

Now, Chunhui finds great fulfilment in transforming the living conditions of elderly and vulnerable homeowners through Project HomeWorks, a programme that she has been working on for the past seven years. Through the programme, Chunhui organises pest-elimination, painting and cleaning sessions with professionals and volunteers for vulnerable individuals and families who depend on government financial assistance.

“I also have a really soft spot for the elderly, and it’s been so enjoyable working with the homeowners on Project HomeWorks as most of them are seniors!” Chunhui says.

Giving a voice to autism

A firm believer in working towards solving social issues in Singapore, Rosa Quitadamo strives to give back in her own way to society as a volunteer. Although she identifies as an Italian citizen, Rosa considers herself a citizen of the world, having lived in China, Hong Kong and eventually moving to Singapore 17 years ago. People with disabilities is an issue particularly close to Rosa’s heart.

An avid people watcher, Rosa would often stroll to the bus stop near her home, which is adjacent to Saint Andrews Autism Centre (SAAC). Saint Andrews Autism Centre supports persons with autism and their families through education, training and care. CFS’s support for them includes a recently introduced Edible Community Garden, funded by Relaxed Fund’s founder George Jacobs and administered by CFS.

It was at that bus stop that Rosa saw clients from the centre walking with their coaches and decided that she would make a difference to them. Rosa suggested to SAAC that the clients who worked on the Edible Community Garden sell the produce that they grew to the residents of Villa Marina.

This project would eventually seed the breakthrough for the students of SAAC to go beyond overcoming their fear of dirt and working in a garden, to being instilled with pride and responsibility for the beneficial work that they did.

“You see few people with disabilities around in Singapore, and as a result locals are not very accepting of their tics,” Rosa observes. By making it her mission to help the students of SAAC sell their own produce, it raised the awareness of autism in the community in a very personal way.

An energetic person who gets things done, Rosa has no qualms about rolling up her sleeves and getting involved in volunteering work. She encourages everyone to try their hand at volunteering, as it is meaningful work which makes a visible impact. “Get involved in work that’s close to your heart and do something you think that’s best suited for you. There’s always a role for everyone,” Rosa recommends.

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.

News

Business Times: Size no barrier to structured corporate giving

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A newspaper article showcasing how size is not a hindrance to structured corporate giving. Exploring corporate philanthropy regardless of company scale.

Liontrust hopes its charity fund will spur fellow SMEs to make their giving count

Many owners of Singapore’s small and medium-sized enterprises would gladly give back to their community. But, without the heft larger corporations have, it is easy for them to resign themselves to thinking that each dollar they give won’t go as far, says Lim Wei-Jen, 47.

He wants his company’s giving to count for more.

Mr Lim is the founder of Liontrust, a trust and wealth management firm that got its start in 2005 and then rode the wave of growth in Singapore’s wealth management sector. It now has offices in Hong Kong and New Zealand too.

“It has always been in our plan that we want to commit a percentage of our profit to charity. We are quite blessed that the business has brought about additional income, that allows us to give,” says Mr Lim.

That desire to give of their gains is shared by the rest of Liontrust’s management team, says managing director Ashley Ong, 52. Many of them come from humble backgrounds. In Mr Ong’s case, his mother worked hard as a school sweeper to provide for her nine children, but never shied away from giving to those in need. “‘If you have the means, please help,’ she’d say.”

Mr Lim says, “In this world, there are the haves and the have-nots. The have-nots are really struggling; the haves may have no qualms about dining, opening a bottle of wine that costs a few thousand dollars…. We see the gaps in society and want to do our part to build a more inclusive home.”

In the early years, Liontrust’s giving was fragmented and ad-hoc, says Mr Ong. But the team did hope to eventually undertake a more structured and sustained approach to giving.

“How do smaller companies typically give? Do we just write a cheque to whichever organisation happens to knock at our door?” says Mr Lim. That also meant defaulting to safer, more established names.  “But these organisations are usually well supported and probably have sufficient publicity.”

Mr Lim says, “Do you only give to those with the highest profiles? We wanted to go deeper. To find charities with needs that we were not aware of.” Trouble was, that work of uncovering and assessing lesser-known charities would take more time, effort and expertise, he adds.

The business of doing good
This was why, when the Liontrust team came to know about the Community Foundation of Singapore (CFS), things clicked into place swiftly.

“Before starting with CFS, we talked about creating an internal committee, which would help to find targeted beneficiaries, but that wasn’t the best use of our resources as many of us were not familiar with the charity sector.

“By setting up a fund with CFS, we are guided by professionals who have the breadth and depth of knowledge of the charitable landscape in Singapore. This is an immense help to maximise our reach to those whom we want to help,” says Mr Ong.

Since starting the Liontrust Charity Fund with CFS in 2015, Liontrust has given to several children’s causes, supporting children from disadvantaged backgrounds and with special needs, as well as assistive technology training for visually impaired children. CFS also surfaced less-publicised needs to Liontrust, such as the need for donations to cover fares of the London cabs that wheelchair-bound children from low-income households need to get to their hospital appointments.

Mr Ong describes Liontrust’s partnership with CFS so far as “a match made in heaven”.

Beyond receiving assistance with due diligence and reports on how each dollar is disbursed, CFS made it possible, in the first place, for Liontrust to set up a fund with relatively lower capital.

It might have been daunting for a small company to put aside a large sum at one go, but Liontrust was able to meet their intended commitment to the fund they set up in smaller, yearly tranches instead of a lump-sum.

Positive externalities
Choosing to manage its corporate philanthropy by setting up a fund aligns nicely with Liontrust’s business goals. “We’re in the business of trust, and some of our clients have also been interested in philanthropic giving, so we thought we should do it ourselves.”

What Mr Lim and Mr Ong did not anticipate though, was how Liontrust Charity Fund has become a rallying point around which to encourage their colleagues, clients and associates to give – whether by volunteering time or donating money.

“It’s been interesting because, through this, I’ve also been able to rally some of my closer friends and business associates,” says Mr Lim.

It is not uncommon, he observes, for well-heeled professionals in Singapore to have more than they need. Mr Lim also believes people to be innately kind and keen to give. Yet, many are so strapped for time to think about how best to use excess funds that often, they just end up buying another property. “With the fund, we have an opportunity to offer them an avenue to give and make a difference in other people’s lives without having to worry about due diligence,” he says.

They hope Liontrust’s modest experience will spur other smaller companies to pursue structured corporate giving too.

“I would encourage companies, whether small or big, to consider CFS. Often, the impression is that it is the big-name companies that can set up a foundation, organise a big charity run to fundraise… We don’t have those resources, yet we have been able to do this our own way,” says Mr Ong.

“Yes, there are fees to pay, but the extra help that comes really makes your every dollar count,” he adds.

And while the myriad reasons to embark on structured corporate giving certainly include the good that it does for a business’ brand – that cannot be the motivation, says Mr Lim. “Companies should not go in with the intention of getting publicity, of getting some mileage out of giving. You just have to take the first step in giving.”

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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