CFS Philanthropy Forum 2019: Looking to the future of community philanthropy
At the CFS Philanthropy Forum 2019 held on 18 March, over 100 guests – including donors, charities and partners – gathered to hear from leaders and experts on what lies ahead for community philanthropy.
Headlining the evening was keynote speaker Eileen Heisman, President and CEO of National Philanthropic Trust (NPT), the largest independent donor advised fund (DAF) administrator in the United States. In her dynamic speech, Eileen – a founding member of CFS’s international advisory committee – shared NPT’s amazing journey to raising more than US$13 billion in charitable contributions, and encouraged all in attendance to rise to the challenge of taking local philanthropy to new heights.
Following her speech, Eileen was joined by Dr June Lee, Honorary Research Fellow, Asia Centre for Social Entrepreneurship & Philanthropy (ACSEP) at the National University of Singapore, and moderator Laurence Lien, Chairman of CFS, in an engaging panel discussion on how DAFs enable smarter, better giving by helping donors give more thought to the purpose of their charitable dollars.
Referring to how DAFs are gaining rising interest in Asia, Eileen commented, “A lot of people have chosen donor advised funds because they want something that’s easy, turnkey, relatively inexpensive and can be adapted to changing interests. Donors have many different types of philanthropic goals, so with a DAF, they can shape the fund according to their preferences and they can change their giving focuses over time.”
June noted DAFs offered specific advantages for families looking to give. “In a recent research paper published by ACSEP, we found that one of the biggest question families ask is ‘how do we engage family members in our giving?’” Setting up a DAF allows a founder to set aside funds for philanthropy without burdening his or her children financially, she adds, while also allowing flexibility down the line when a founder’s children wish to pursue to a different charitable cause from their parents.
Remarking on the opportunities ahead for community philanthropy, Eileen cited the growth of two major trends: micro donor advised funds targeting millennials, and new services enabling direct payroll deductions into donor advised funds. “These trends will change the face of donor advised funds as we go forward,” she said.
She challenged CFS to tap on these wider trends to expand its offerings, “As someone who’s very much invested in CFS’s success, I would like to see CFS be creative and thoughtful about expanding the horizon for donors and the community of Singapore to express their philanthropy in different and new ways.”
In his closing remarks, Laurence commented, “It’s clear DAFs are a trend that can’t be turned back. DAFs are there for us to use, to promote, and the only direction is up.”
The evening ended on a poignant note as CFS announced the handover of its chairmanship from Laurence to Christine Ong who takes over as Chairman on 1 April.
Indeed, CFS has come full circle and we are so grateful for the guidance, trust and support we have received over the last decade.
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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”。
- Related Topics For You: DONOR STORIES, DONOR-ADVISED FUND, EVENTS, OPINION
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