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

New office for S’poreans to partner the Government and give ideas

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CFS is pleased to be a part of Forward SG, as we build our shared future, together.

We know that collective effort – through financial support, knowledge-sharing, and community collaboration – is the bedrock of a stronger, more inclusive society.

As part of the Forward SG movement, CFS will rev up our mission to forge stronger connections between generous donors and local communities, inspiring those who’ve thrived to give back, create a positive ripple effect in our community – and strengthen our social compact.

Donations will be channelled to where they’re needed most, paving the way for enduring, meaningful change. Read the news below to learn more about the latest Forward SG updates.

To spur civic participation, a new office will be set up to create more space for Singaporeans to work with the Government.

The Singapore Government Partnerships Office, one of the recommendations of the Forward Singapore report, will lead national efforts to engage citizens who want to contribute, by facilitating interactions between them and relevant government agencies.

The office is part of a broader shift to empower people to take individual and collective actions, in the hope that building a shared future will foster unity.

“We recognise that there are some areas where it may be better for the Government to step back and allow more space for citizen participation,” said the report. 

“We will therefore introduce new ways to promote civic participation. We will also support more ground-up efforts by Singaporeans to shape and improve their communities.”

The Government will actively seek input and work closely with all stakeholders and partners, said the report prepared by the fourth-generation political leaders led by Deputy Prime Minister and Finance Minister Lawrence Wong.

Besides creating more avenues for civic participation and ground-up efforts, the report also sketched out ways to nurture a stronger culture of giving and for people to support their fellow Singaporeans.

The recommendations follow the 16-month-long Forward Singapore exercise that saw more than 200,000 Singaporeans contribute their suggestions. 

At a press conference on Friday, Mr Wong said: “This is more than just an engagement exercise. It’s really a partnership effort… between Government, people, community groups, employers, businesses, (it) encompasses our tripartite partnership.

“It’s really a whole-of-Singapore partnership, and that’s the only way that we can implement these big moves and these big shifts together.”

Ultimately, the aim is to build a vibrant, thriving and resilient society where the broad middle enjoys progress, the vulnerable receive care, and the better-off do their part to improve the lives of fellow citizens, said the report.

“We ask that Singaporeans step forward to give back to our society, especially those who have done well and benefited from the system,” it added. 

This could be through financial donations, contributing knowledge, or working with community organisations. 

To this end, a new programme will be introduced to better connect donors to local communities and channel donations to where they are needed over a sustained period.

This will be done in collaboration with the Community Foundation of Singapore and Community Chest.

For example, a donor could support the educational needs of children from several lower-income families not just financially, but also in the areas of mentorship, internship and job opportunities, to help build their social capital and networks.

Businesses can also do more for the wider community, said the report.

It held up business leaders-turned-philanthropists such as Hajjah Fatimah, who donated land to build the Hajjah Fatimah Mosque, Govindasamy Pillai who set up the Ramakrishna Mission charity, and Tan Tock Seng, who donated money towards the building of what became Tan Tock Seng Hospital.

To guide companies in designing business practices and operations that can benefit society, the National Volunteer and Philanthropy Centre has set up the new Company of Good strategy, and 55 companies have adopted this corporate purpose framework.

Young people can give their views on policies through youth panels that were launched in May. These panels will look into financial security, careers and lifelong learning, digital well-being, and environment and sustainability. 

Mr Wong said some of the top issues for youth that surfaced during the Forward SG exercise were jobs and career choices, mental wellness and sustainability.

“There was a very strong sense of wanting to give back and support others who are less fortunate,” he said, adding that a group of young people worked closely with the Ministry of Social and Family Development team to come up with recommendations to uplift lower-income families.

Another aspect of fostering unity involves strengthening multiracialism and the Singaporean identity, said the report, adding that the Government will do its part by continuing to expand spaces for more interactions between different groups. 

More will be done to promote collaborations between the various self-help groups, and to encourage more Singaporeans to be involved in racial harmony programmes in the community, said the report.

It noted that sustained effort to sensitively manage the difficult issues on race and to create shared experiences through school, and community and national events, has allowed Singapore to enjoy several decades of racial and religious harmony.

“But we must have the humility to acknowledge that our multiracialism is still a work in progress,” it said.

Even as more avenues will be provided for people to contribute ideas, the report said, not all ideas can be accepted and, sometimes, there may be differing views on how to achieve an outcome.

In such cases, the Government will explain its considerations, and take the “practical and pragmatic” approach by looking at data and evidence and considering the circumstances and context before deciding on a way forward.

“Such differences are not so fundamental because our ends are the same, and it is a matter of working out the best approach to take,” said the report.

From Friday to Sunday, Singaporeans will be able to learn more about the initiatives in the report at the Forward Singapore Festival at Silver Garden – Silver Leaf at Gardens by the Bay. After this, the festival roadshow will make its way to various heartland locations until Jan 28, 2024.

There will be exhibition booths on the key policy shifts highlighted in the report, an interactive booth where people can create their own avatars to discover what the shared future holds, and a holographic booth where they can make pledges for Singapore.

Read more about the Forward Singapore report.

 

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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Stories Of Impact

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

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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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Events

Donor Learning Trip – St Joseph’s Home’s Inspirational Inter-Generation Programme

At CFS, we work closely with over 400 well-governed charities to link donors to programmes that achieve meaningful impact. With our deep experience, we understand the importance of improving lives through community initiatives. St Joseph’s Home (SJH) is a good example of this.

At CFS, we work closely with over 400 well-governed charities to link donors to programmes that achieve meaningful impact. With our deep experience, we understand the importance of improving lives through community initiatives. St Joseph’s Home (SJH) is a good example of this.

About St Joseph’s Home (SJH) 

SJH is a not-for-profit organisation set up by the Catholic Welfare Services in 1978 to provide shelter, care and love for the aged and destitute, regardless of race or religion. 

Since then, SJH has innovated to pioneer unique models of care that meet the community’s evolving needs. This includes the hydrotherapy, night respite care for persons with dementia and the co-located Infant and Childcare Centre (ICC).

SJH’s beautiful premise is situated at the heart of the Jurong Innovation District. It has wheelchair-accessible playgrounds, walkways and community spaces such as Café Verona and Funhouse to encourage chance interactions. Spaces are also configurable to accommodate structured programmes that require more privacy and comfort.

An Intergenerational Care Community

In August 2017, SJH pioneered Singapore’s first intergenerational community with an Infant and Childcare Centre (ICC) co-located in a nursing home.

Infants as young as two months old to children up to age six get daily opportunities lasting 45 to 90 minutes to interact with nursing home residents. Children and residents engage in activities such as shared newspaper reading, puzzles, LEGO building, singing and storytelling. 

These interactions form part of the children’s curriculum, where they learn about culture, and pick up motor and literacy skills. They also form part of the resident’s daily care, which is made possible only because of the close collaboration between the ICC and the clinical team of SJH. 

Our donors were recently invited to visit St Joseph’s Home and witnessed their recently-launched intergenerational art therapy programme. Joy was evident on the faces of both residents and children as they waved to one another.

Gladys and Nathan (children on the right) learning about the dragon boat festival with Mdm Quek* (resident on the left)

Intergenerational Programmes as a Therapeutic Intervention 

With all the buzz around intergenerational programmes (IGPs), here’s what sets SJH apart. 

Every programme has a therapeutic outcome and St Joseph’s Home Infant and Childcare Centre teachers work closely with SJH’s clinical team to develop IGPs that:

  1. Resonate with both generations 
  2. Intentionally facilitate conversations and relationship-building 
  3. Have therapeutic outcomes such as improve mood and increased social wellbeing 

Our visit coincided with the fifth of eight sessions conducted by an Occupational Therapy Assistant. Residents and children were collaborating on a calligraphy painting. 

Mdm Tan*, one of the participants who had been hesitant to join social activities, is observed laughing and making eye contact with Estelle, the spritely five-years-old that she’s paired with.

Estelle (left) sharing a conversation with Mdm Tan* (right). She has learned to move closer to Mdm Tan as the resident is hard of hearing.

Another resident, Mdm Wee*, has shown remarkable improvement, eating better and faster on days when she meets the children.

It’s inspiring to hear about Mdm Wee’s progress. She used to take two hours for lunch, often breathless and discouraged, preferring to stay in her bedroom. Now, after just a few sessions, she’s more motivated, energetic, and engaged, even asking about the children. She can now finish her meal in half an hour

The donors of CFS witnessed the energy within the group and comfortable interactions. These took hours to foster, and cannot be justly put in words. 

Developing such results is an art. It calls for a careful integration of the medical and psychosocial needs of the residents, their unique interests and the developmental stage and disposition of the child that they’re paired with. 

Teachers need to be equipped with an understanding of the residents and constantly communicate with the therapist before and throughout the IGP to ensure that the therapeutic outcomes are met.

Intergenerational Programmes as Education

“Educating the mind without educating the heart is no education at all.” – Aristotle

Since its inception in 2017, the teachers at St Joseph’s Home Infant and Childcare Centre have focused on investing in the character of the children. Empathy, kindness, and respect are not just taught but also demonstrated.

Children observe the staff and teachers interacting with residents, learning to respectfully gain the attention of those who may be weak or frail. They also practise handling wheelchairs and being considerate in their movements and volume around residents.

During the IGP, children will progressively pick up the residents’ names, interests, or areas in which they might need help with. For example, children might help residents by repeating instructions closer to their ears or uncapping the tools that require more fine motor skills.  

Intergenerational Programmes as an Innovative Care Model 

As pioneers in integrating the preschool curriculum with elderly-inclusive activities, SJH has learned and experimented along the way, all while remaining committed to their vision of providing person-centred, dignified care.

Their experience has since inspired other organisations. Looking ahead, SJH envisions the intergenerational programme as an integrated part of person-centred, holistic care for elderly residents. They continue to experiment with various programme types and structures, monitoring their impact and collaborating with research partners.

How You Can Help

St Joseph’s seeks $150,000 annually to run the programme, which involves childcare teachers, music, art, and occupational therapists that serve 20 children and 40 to 60 elderly residents. To find out how to become a CFS donor, click here

*Names changed to protect confidentiality.

Stories Of Impact

HOME: Helping vulnerable migrant workers through crisis

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A woman gracefully holds a box of vibrant flowers, standing before a neatly arranged bunk bed.

With almost one million low-wage migrant workers in Singapore, there is an increasing appreciation of the important role they play in our society. Yet, while migrant workers make up a significant part of our social fabric, their issues and challenges may often remain invisible from public view.

Since 2004, the Humanitarian Organisation for Migration Economics (HOME) has been aiding migrant workers in crisis situations. These workers have often suffered exploitation and abuse ranging from overwork, injury, wage theft to physical and emotional abuse. HOME supports around 2000 non-domestic workers and domestic workers each year.

“Many of the workers who come to us are already quite traumatised,” says Sheena Kanwar, Executive Director of HOME, “It is quite a journey for them: from making the decision to come here, receiving support, recovering from crisis and moving on with life.”

Support from donors to the Migrants Emergency Assistance and Support (MEANS) Fund, a community impact fund managed by the Community Foundation of Singapore (CFS), has helped HOME to provide immediate and short-term financial assistance to distressed workers. The financial support covers the basic necessities, medical care, transport and mobile phone top-ups. To date, the MEANS fund has disbursed around $60,000 to HOME.

Financial assistance is critical for these workers; many of them have no savings or have not been paid a salary for several months. If a worker decides to make a legal complaint against their employer, they may end up staying in Singapore for several years. “We help ensure there is a basic sum for their everyday well-being through this process, from food, transport to their medical needs,” says Sheena.

Beyond financial assistance, HOME has created “a sustainable system that allows us to respond to the different needs of a migrant worker in crisis,” explains Sheena. These services include help desks, legal, medical, and counselling teams, a shelter for vulnerable domestic workers, skill-building classes, to helping workers through re-employment. Moving forward, HOME looks to expand its reach, especially to vulnerable migrant workers from the Myanmar and Indian communities.

For these workers, HOME has opened a vital window of support – and even a new lease of life. Take Jofel, a domestic helper who has been living at HOME’s migrant worker shelter for over a year. After attending an art therapy class by the HOME Academy, Jofel stumbled upon her creative talent. She started to pursue her passion for handicraft, actively picking up skills online each day. Today, she is skilled at designing and producing a wide range of items, from bags, candles to flower bouquets. “I’m very grateful to HOME for its support. I discovered myself and my creative abilities here,” says Jopel. Upon her future return to her home country, Jopel hopes to start her own business.

Sheena is heartened by the surge of support amongst Singaporeans towards the plight of migrant workers; from enthusiastic young students who ask to join HOME’s projects, to HOME’s dedicated teams of legal, medical and counseling professionals. She says, “The support and empathy for migrant workers have gone up tremendously over the last five to seven years. It’s very heartening that people genuinely see the need for the work that we do.”

To support the MEANS Community Impact Fund, visit here

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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”。

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.

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