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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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The Straits Times: The ST Guide To… giving to charity

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For those with fatter wallets and who hope to create a greater impact with their gift, they can even consider setting up a charitable fund to give to causes close to their hearts.

For example, the Community Foundation of Singapore (CFS), a non-profit group, helps donors find a more structured and sustainable way of giving by providing advice and managing their charitable fund.

To set up a named charitable fund in the CFS, where the donor decides on the fund’s name and the causes to give to, donors must pledge at least $200,000.

For those with slimmer bank accounts, there is no minimum sum to give if they want to donate directly to the Community Impact Funds that have been set up by the CFS to support lesser known causes, such as helping migrant workers in distress and taking home-bound seniors on outings. Read more.

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Business Times: The beauty of giving to those you do not know

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A snapshot of a newspaper Business Times: The beauty of giving to those you don't know

Govind Bommi, 71, is well known to regulars at the Metta Day Rehabilitation Centre for the Elderly.

The businessman and philanthropist spends his Thursday mornings volunteering at the Tampines centre, befriending seniors who are there to receive physiotherapy or other forms of rehabilitative care after conditions such as a stroke, Parkinson’s or arthritis.

He does not speak Mandarin or any of the Chinese dialects that most of the regulars are most comfortable with. But that’s been no barrier to friendship.

“You hold their hand, and usually offer the hand that they can use, as some are stroke patients. It’s all about connecting,” says Mr Bommi, a Singapore permanent resident and naturalised US citizen.

One might think this began with his decision to set up a charity fund in Singapore, after spending 20 years here. But Mr Bommi would tell you that seeds were sown far earlier in his childhood, by his mother’s selfless giving to people she did not know.

A mother’s influence
“We didn’t have much when we were growing up… it was hand-to-mouth,” says Mr Bommi, originally from Bangalore, India. All five children shared a small bedroom, and the family lived off their father’s hard-earned income. “Yet, whatever we had, we shared.”

He wasn’t speaking merely of siblings sharing. Beggars would knock at their doors each evening, and his mother, Andal, always found something to give. “It was not leftovers. Even though we didn’t have much, she would cook and keep some aside because she knew that they would come ask for food,” he recalls.

His mother’s largeness of heart only grew with time.

Once, as a grown man in his 40s, Mr Bommi made his annual trip back to India to visit his then 75-year-old mother. One of the first things she said? She had told a young man with a terrible skin problem, boils all over his face, to come see her son, and Mr Bommi was to take him to his doctor friends.

“I asked her, ‘Who is he? How do you know him?” And she just looked at me and said, “I don’t know. Do you have to know who he is, to help him?” That really struck a chord,” says Mr Bommi.

“When you want to help, helping someone you know is easier to do. My son, my child, my niece, my friend, my neighbour – when you have a “my” attached to anything, it is easier. It’s an extension of you, it’s easier to give. Now, to give to somebody that you do not know – that’s what my mother talked about.”

Mr Bommi himself has been on the receiving end of strangers’ kindness and giving too.

Arriving in the US as a 21-year-old, on money borrowed from a friend, Mr Bommi knew no one. Through those early months of adjusting to life in a foreign land and navigating the stress of changing schools and moving, he found some solace each night in lighting up a little prayer lamp his mother had given him.

A rough settling-in was made smoother by strangers who helped, says Mr Bommi. There was the Jesuit priest who helped him find accommodation, and then the Canadian-French family whose home he eventually lived in, among others.

These experiences led him to believe that most people are compassionate. “You see someone not well, hurt, the human instinct would be to go help. Thought manifests itself into words. Further on, the words manifest into actions… Most people will have the thought, but for whatever reason, it’s not shown.”

Taking action
Mr Bommi is not one to just let a thought be.

2015 marked his twentieth year in Singapore. He had arrived in Singapore as an expat, posted by his American company to be a regional director here. But when his term was up, he decided to stay on, started his own water filtration and purification business, and married a Singaporean.

Singapore is now home to him, he says. “I thought: now that I’ve settled down in Singapore, I wanted to do some charity work here.”

He had already set up a charitable foundation in India, Andal Cares, named for his mother. “All the blessings that we have – good health, good family, good wealth – all of that, we have to share…. We are only temporary keepers of this wealth – we have to share it. It’s been given to us for a purpose, to share.”

And so, he told his lawyer, he wanted to do the same here. But, he soon realised that it would take considerable time and resources to set a foundation up, find the right people to run it, meet governance requirements, and handle the administrative work involved. His lawyer pointed him to the Community Foundation of Singapore (CFS), as an option that could provide charitable fund management and philanthropy advice.

Given his desire to support eldercare services, CFS staff took him to visit nursing homes and rehabilitation centres to give him a better appreciation of Singapore’s eldercare landscape. Which is how he first discovered the work of Metta Day Rehabilitation Centre.

“Through the visits, I got a clearer idea of the different types and needs of eldercare support here. CFS helped to build on my interests, and hone in on the causes and impact I want to make, so that I could find a focus for my giving,” he said.

In March 2016, Mr Bommi started the Andal Cares Fund with S$250,000, under CFS, to support the Metta centre. He has since pledged to raise that sum to a seven-figure amount over several years.

Getting to know those you help
“CFS did an excellent job of setting up and managing my charitable fund, taking care of all the ground work for me – from evaluating programmes, conducting due diligence and disbursing grants, to reporting on impact. That’s a big relief for me as it frees up my time to concentrate on my volunteer work with the community,” says Mr Bommi.

His people-centred approach of giving also led Mr Bommi to support, through CFS, a pilot programme by Metta Welfare Association called “We are Bonded”. The programme introduces young befrienders to elderly persons, with the aim of building emotional bonds and enhancing well-being, while studying the benefits of inter-generational bonding.

“From my volunteer work with Metta, I observed that even though seniors are being physically rehabilitated, many of them experience loneliness or isolation and are emotionally withdrawn. Through this programme, we hope that we will be able to better understand and tackle the emotional issues of an ageing population.”

Because as much as he believes in the value of giving to those whom you don’t know, he also believes in getting to know the ones receiving his gifts.

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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社区基金会让善款发挥更大爱

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portrait of CFS CEO Catherine Loh

随着出生率不断下降和人口老龄化,慈善事业下来可更专注在老人方面。

新加坡社区基金会(The Community Foundation of Singapore,简称CFS)总裁罗佩仪告诉《联合早报》,政府虽然负责照顾老人的基本需求,但公众可协助提升老人的生活素质,维护他们尊严,让他们在暮年,可以过得更有意义和活跃。

“在教育方面,除了孩童和青少年,受日新月异的科技影响、必须重新受训的成人学生,也应该获得额外支援。”

罗佩仪说,CFS有13年管理基金的经验,致力于确保有高水平的透明度和治理,好让捐款者有信心,知道他们的基金能协助和满足社会现有和未来的变更需求。

她指出,CFS与个人捐款者和慈善机构合作,加强各种慈善事业。

“到CFS的个人、家庭和企业,都希望能支持新加坡的慈善事业,发挥影响力。我们能协助捐款者通过一个有组织和战略性的形式,达到他们的慈善目标。”

过去13年来,捐献者的基金支持性质和规模不一的慈善机构,包括医疗和福利项目,以及教育学府等。

她坦言,一些人虽然知道CFS,但CFS也意识到需要更多信息,协助个人作出知情决定。

为了提高人们的认识,CFS积极向律师和金融专员和顾问介绍“捐献者指示基金”(Donor Advised Funds,简称DAF),让他们考虑将DAF当成客户规划慈善事业的工具之一。

她说,像律师和金融顾问这类提供咨询服务的人,可以为准备捐款的客户提供选项,包括直接捐助特定慈善机构,或通过DAF支持有需要的社区。

“我们因此希望专业咨询顾问与客户谈论财富规划时,也能把慈善列为其中的项目。”罗佩仪说,去年冠病疫情期间,国人鼎力支持慈善,包括不幸者、教育、健康医疗等项目。”

她以因应疫情推出的Sayang Sayang Fund为例说,有超过5185人和企业捐出超过900万元,受益者有13万6000人左右。

“国人慷慨解囊,真的鼓舞人心。作为立场中立、获公益机构(IPC)资格的慈善机构,CFS致力于加强不同社群的生活素质。”

去年4月至7月,全国志愿服务与慈善中心(NVPC)和CFS通过调查公司Toluna展开的调查显示,每10人中有六人认同人人都可以作出遗赠。

她指出,除了全国慈善遗产捐赠(legacy giving)计划,以及CFS本身的“伟大捐赠”(A Greater Gift)运动,CFS专注于提高遗赠的意识,以及捐献慈善机构的价值。

她说,CFS下来将推动捐献的各种方法,并鼓励人们多谈论遗赠和慈善事业,“不论是在餐桌或办公室”。

另外,2021年是“欢庆新加坡女性年”(Year of Celebrating SG Women),推动性别平等与促进女性发展。

罗佩说,CFS将侧重表扬参与慈善事业的女性,不论是捐款者、决策者、董事成员和义工。

以已故总统纳丹的名字命名的“纳丹教育提升基金”今年成立10周年,至今累积逾1000万元资金。这个捐赠基金已发放超过370万元,通过助学金、奖学金,以及各项经济援助计划,支持工艺教育局和高等教育学府的贫困学生顺利升学。

前总统纳丹是在2011年同新加坡社区基金会合作成立这个基金。纳丹同年卸任总统,2016年逝世,享年92岁。

纳丹教育提升基金属于“捐献者指示基金”(DAF),由CFS负责管理。该基金开放让公众捐款。纳丹生前委任一个拨款咨询委员会,负责就基金可支持的项目提供建议。这些年来,委员会的成员不时更新。

纳丹教育提升基金拨款咨询委员会主席陈育宠受询时说,前总统纳丹乐善不倦,他的一生体现出慷慨助人、关怀,以及奉献的精神。“纳丹出身贫寒家境,向来体恤和关怀社会上的弱势群体。”

陈育宠指出,纳丹生前深信教育对促进社会平等扮演重要角色,能赋予弱势家庭的孩子改善自己和家人生活的机会。

基金起初援助的项目包括四个自助团体的教育援助计划,为印度人发展协会、华社自助理事会、回教社会发展理事会,以及欧亚人协会的受益学生提供援助。多年下来,基金也支持包括工艺教育局、南洋理工学院、共和理工学院,以及新跃社科大学、新加坡国立大学和南洋理工大学等学府。

基金去年就为工教局拨款超过40万元,支持的项目包括面向弱势学生的经济援助计划,通过每月发放津贴,减轻这些学生的交通及生活费负担。

至于跃大,基金在2019年拨款为该大学设立“纳丹教育津贴”(S R Nathan Study Grant),给修读部分时间课程的跃大生提供经济援助。这些学生一般先完成工教院和理工院课程后才报读跃大,升学道路较为曲折。

陈育宠说,社会各阶层人士深受纳丹的启发,不少人慷慨解囊捐钱给纳丹教育提升基金。“我们希望纳丹教育提升基金可作为规划遗产捐赠的一个典范。”

已故家庭科医生林文忠生前时常免费为贫困病人看诊。为纪念他乐善好施的精神,家人从他的遗产拨款2400万元设立慈善基金会,援助年长及末期病人,也资助癌症研究。

林文忠是一名敬业乐业的家庭科医生。他在70多岁时被诊断患上前列腺癌,坚持行医至80岁才退休。林文忠晚年笃信天主教。他于2002年逝世,享年84岁。

新加坡社区基金会受询时说,林文忠生前多年的行医经验,以及他晚年患病的经历,促使他生前非常希望能援助弱势年长者及泌尿科疾病患者。

据林文忠的女儿林春娘透露,她的祖父生前也患前列腺疾病,父亲当年对祖父的病情爱莫能助,为此感到懊恼,当父亲患病后,更希望尽一己之力,推展泌尿科癌症方面的研究,以造福癌症患者。

林文忠两个女儿林春娘和林素真按照他的遗愿,于2018年咨询CFS,以父亲的名义设立基金,支持父亲生前关心的慈善和医疗研究项目。林文忠医生基金会也是“捐献者指示基金”,由CFS负责管理。基金会并不开放让公众捐款。

CFS指出,林春娘和林素真对父亲希望这个基金能发挥怎么样的社会影响力有清楚的概念,CFS提供专业咨询协助她们设立基金会,并建议基金会可资助的项目。


新加坡国立大学医院的“林文忠医生泌尿科癌症研究”是其中一个受益的项目。林文忠医生基金会捐赠700万元资助这个项目进行临床试验研究,以提升泌尿科癌症患者的护理及医疗水平。

经营三家疗养院的天主教福利协会(Catholic Welfare Services)获基金会捐赠800万元,作为提升其疗养院设施和运作的经费,让院内年长住户受惠。

此外,基金会也捐赠800万元资助雅西西慈怀病院(Assisi Hospice),帮助该病院拥有16个床位的圣迈克病房减轻提供住院护理方面的开销,让有需要的末期病患获得慈怀护理。

信用:联合早报©新加坡报业控股有限公司。复制需要许可

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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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