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CFS signs Memorandum of Understanding with the Bank of Singapore
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Events

CFS signs Memorandum of Understanding with the Bank of Singapore

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cfs and bank of singapore memorandum signing ceremony

The Community Foundation of Singapore (CFS) is pleased to share that we have signed a Memorandum of Understanding (MOU) with the Bank of Singapore. Through this collaboration, Bank of Singapore clients can partner with CFS, where we will provide them with the expertise and insight into Singapore’s charitable landscape to support their clients’ philanthropic goals and make an impact in local communities. The MOU aims to inspire philanthropic giving to help address the social and environmental challenges in Singapore.


The photo was taken at the MOU signing ceremony between Bahren Shaari, CEO of Bank of Singapore and Catherine Loh, CEO of The Community Foundation of Singapore. The ceremony was witnessed by Theresa Cheong, Head of Partnerships of The Community Foundation of Singapore and Zubin Dabu, Market Head & Chair of Bank of Singapore ESG Forum. Fund raising appeals will not be conducted by Bank of Singapore for CFS.

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Events

A review to keep improving outings for the elderly

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Group of individuals sitting in chairs indoors.

It has been 10 years since the Outing for Seniors Community Impact Fund was started to enable nursing homes, day care centres, hospitals and hospices to bring seniors with medical conditions or mobility challenges on regular, organised excursions around Singapore.

To date, some 10,000 seniors have been on over 700 outings organised by more than 60 charitable organisations, with Changi Airport and Gardens by the Bay topping the list as favourite destinations.

In January, some 70 representatives from 28 charitable organisations who received grants from the fund gathered for a review session organised by CFS. At the event, attendees were updated on the fund’s streamlined application guidelines and processes. Breakout sessions were also conducted to gather feedback, exchange views and gain a better understanding of the profiles of seniors, types of outings and activities, volunteer to senior ratios and fund utilisation.

Representatives from the Esplanade and National Heritage Board were present to share their specially curated, senior-friendly arts, culture and heritage programmes. These include nostalgic concerts and performances, heritage trails, guided museum gallery tours, events and festivals which are all designed to promote active ageing.

All in, it was a productive afternoon for everyone. It is hoped that the fund and the outings it supports will continue to grow from strength to strength, as we can all agree that the joy that it brings to seniors makes its purpose all worthwhile.

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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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Events

FutureChina Global Forum: CFS CEO Advocates for the Integration of Philanthropy into Wealth Management Strategies

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Catherine Loh Speaking

What is the civic responsibility of wealthy individuals and corporations?

What are the ways they can include philanthropy in their wealth management strategies to create a lasting impact on society?

These thought-provoking questions were discussed in a dynamic panel session titled “Strategic Philanthropy – Enabling Wealth for Lasting Impact” at the FutureChina Global Forum 2023, which was attended by over 800 business leaders. The panel comprised CFS CEO Ms Catherine Loh, Mr Feng Lun, Founder of the Vantone Group and Chairman of the Yufeng Group; Mr Laurence Lien, Chairman and Acting CEO of Asia Philanthropy Circle; and Mr Lionel Li Xiaobo, Founder and Chairman of the Li Foundation, and was moderated by Mr Zhou Zhaocheng, Chairman of Super Hi International Holding Ltd.

Catherine highlighted that even in an affluent society, certain needs and gaps would require philanthropic support. Besides supporting basic needs, philanthropists can also provide catalytic capital for innovative programmes, anticipating the problems of the future and solving them, for example, the Lien Foundation funds research to delay ageing and reduce the number of years people spend living in ill health.

She emphasised there are many ways civil society can work with the government and charitable organisations to solve complex social issues together. Other than financial donations, philanthropists can also contribute their expertise, corporate resources, and mentorship to create solutions. 

She highlighted that as part of the recently announced government-led initiative Forward SG, CFS will lead a collaborative effort aimed at strengthening Singapore’s social compact. Under the collective, diverse stakeholders will come together, pooling their expertise and resources to tackle issues such as social mobility, employment disruptions caused by technological changes, the implications of an ageing society, and other pertinent issues.

Are you passionate about supporting causes you care about? Let us help you understand the needs and recommend relevant programs. Find out more at https://www.cf.org.sg/giving/ways-to-give/


The FutureChina Global Forum is Asia’s most prestigious bilingual international forum, attended by more than 800 distinguished business leaders, public figures, experts, and thought leaders from Singapore, China, and neighbouring areas. The 14th edition, themed “Pathway to Clarity – Charting the Future”, brought together 37 leading experts to dissect developmental trends driving China’s economy on 27th October.

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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.

Events

Monetary Authority of Singapore (MAS) Family Office Circle Webinar: Philanthropy in Singapore and the Region

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The Community Foundation of Singapore’s (CFS) CEO, Ms. Catherine Loh, was invited to speak at a virtual closed-door Family Office Circle event titled Philanthropy in Singapore and the Region on the 22nd of July, organised by the MAS-EDB Family Office Development Team[1] in partnership with the Asia Philanthropy Circle (APC) and CFS.    

The event was attended by 55 international and local participants, involving single family offices and family foundations who had either set up or are setting up a presence in Singapore.

Ms. Kelly Teo, Deputy Director and Head of MAS’ Banking Development Division, observed in her opening remarks that there was an increasing interest among single family offices, especially those involving the next-generation, to give back to society such as through  philanthropy. This sentiment is corroborated by the UBS Family Office report 2020 which found that philanthropy is becoming the most important activity by the time of the third generation. However, many were unsure about how to start and who to give to. The Family Office Circle event was hence organised to share with single family offices about the philanthropy landscape and giving opportunities in Singapore and the region.

The crucial role of Philanthropy in Singapore

CFS’s CEO Ms Catherine Loh participated in a fireside chat, hosted by Ms. Stacey Choe, the Chief Operating Officer (COO) of APC on Singapore’s philanthropy landscape, its gaps and opportunities.

Catherine spoke about the need for philanthropy in Singapore, despite being widely regarded as a wealthy country. She explained that due to the widening income gap, social inequality is deepened in our society, and philanthropic donations are needed to provide relief to those in need and to find long term solutions to reduce social inequality. 

While Singapore does not have absolute poverty, relative poverty is a concern here. Research has shown that a family of 4 needs between S$2,500 to $2,950 a month in gross household income to live decently. 

The Covid-19 pandemic has hit the lower income more seriously than those with higher incomes.  The lower income and less educated are likely to find it challenging to pivot and adapt to a workplace that is changing due to technological advancements.   

Singapore also requires solutions to a rapidly ageing society.  Other critical areas of need would be looking at issues related to mental health and environment.  All these issues are critical to the future stability of Singapore.

When asked about how we could support those who are most in need, Catherine answered that she would prefer donors to ask what kind of social change they would like to see instead. She said that asking that question would lead to effecting long term change, for instance, helping the poor to get out of the poverty cycle.

Catherine also extolled the benefits of participating in philanthropy, citing that families who engage in it together are happier and pass down shared values to the next generation. Philanthropy also reduces the income gap and promotes cohesion in countries, and benefits the rest of the region as well through exchange of expertise and the replication of successful philanthropic pilot programs.

A Donor’s Giving Journey

Catherine was delighted to have Mr. Govind Bommi, the Founder and Chairman of Filtrex Holding Pte. Ltd, to share his inspiring giving journey as a donor of CFS and what motivated him to give.

CFS donor Mr. Govind Bommi came from very humble beginnings. He was born in Bangalore, India, to a family of six children who lived off a single income.

Despite his family’s modest background, it was his mother’s generosity towards the beggars who came to his house in the evenings that made the deepest impression on him. It was her philosophy towards helping others that struck a chord with him and formed the basis of his own giving nature, leading to the founding of the Andal Cares Fund, named in honor of his mother.

Mr. Bommi now considers Singapore his home, after moving here 20 years ago. He set up a water filtration and purification company, and says it’s best to participate in the community that one lives in and find out how best you can help others. Currently, Mr Bommi’s Andal Cares Fund is administered and managed by CFS, and supports rehabilitation programmes by the Metta Association. 

The Philanthropy Landscape in the region and its opportunities

The CEO of APC, Ms. Mafruza Khan gave an introduction to APC and the work that they do while COO Ms. Stacey Choe spoke about the philanthropy landscape in the region, its key trends and opportunities to build a better Asia through philanthropy together. She also shared about the unique challenges that philanthropists faced in Asia and suggested how philanthropists can convene together and collaborate to catalyze the necessary changes.

If you would like to learn more about philanthropy giving in Singapore, read here.

[1] A strategic partnership between the Monetary Authority of Singapore and the Singapore Economic Development Board.

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Events

International Women’s Forum Singapore: Empowering young women for a better future

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They may come from disadvantaged families, juggling work with school, but that has not stopped them from pursuing their dreams or even helping others. For this, ten young women were presented with the 2016 International Women’s Forum (IWF)’s Education Grants on 30 September.

Managed by the Community Foundation of Singapore, the IWF Education Grants support young women who are currently pursuing a diploma or degree in local polytechnics or universities but face challenges in continuing their studies due to financial difficulties. Many come from low income families and need to work to pay school fees or supplement their household income.

Recipients are selected for their academic performance, as well as resilience and aspirations. During the selection process, the Education Grants Committee also highlighted that despite their difficult circumstances, many of the recipients still found time to give back to the community by taking part in voluntary work such as befriending the elderly and mentoring young children and teens.

At the dinner reception held at CapitaGreen and hosted by IWF Singapore leaders including Dr Aline Wong, Yu-Foo Yee Shoon, Arfat Selvam, Saw Phaik Hwa, Chong Siak Ching, Carmee Lim, Goh Swee Chen and Doreen Liu, recipients and mentors mingled and exchanged anecdotes and advice. The young ladies also took to the floor to share their struggles with work and studies, for some the responsibility of caring for ill or unemployed parents and above all their unwavering quest for further education.

The IWF women leaders applauded the strength and determination shown by the recipients and invited them to be ambassadors at the IWF Singapore 20th Anniversary Conference in 2017 so that they can continue to be an inspiration to others. As part of the mentoring programme, IWF leaders will impart guidance, career counselling and life skills to empower these young ladies for the future.

At the 20th Anniversary Conference, the organisation hopes to raise $250,000 to enable and empower even more young women to change the outcomes of their lives as well as their families’.

About the International Women’s Forum

The International Women’s Forum is a singularly unique organisation comprised of more than 6,400 dynamic women leaders in 34 countries and 75 forums around the world. IWF members span careers, cultures and continents, however, they are wholly aligned in their commitment to building better global leadership.

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