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Bank of Singapore partners Community Foundation of Singapore to provide clients with philanthropy services
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Bank of Singapore partners Community Foundation of Singapore to provide clients with philanthropy services

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Bank of Singapore, the private banking subsidiary of OCBC Bank, has partnered with non-profit organisation Community Foundation of Singapore (CFS) to provide its clients with philanthropic services. 

 With this partnership, CFS will work with the bank’s clients to translate their interests, values and goals into philanthropic strategies that meet giving goals of the clients and match the needs of the local community. To develop these strategic giving plans, CFS will use insights from its Charities and Grants team and consult its philanthropy advisors.

In a press release on Monday (May 23), Bank of Singapore stated that the partnership comes at an “opportune time” as philanthropic activities amongst ultra-high and high net worth individuals are on the rise. 

Headquartered in Singapore, the bank serves high net worth individuals and wealthy families markets of Southeast Asia, Greater China, Philippines, India Sub-Continent and other international markets. 

Based on statistics from Knight Frank, 54 per cent of global family offices, a strategic client segment that the bank is focused on building, were increasing their philanthropic activity in 2021. 

Bahren Shaari, chief executive officer of Bank of Singapore, believes that CFS’ expertise and insights into Singapore’s charitable landscape will help the bank’s clients to map out charitable-giving goals that align with their values and ambitions.

This article was originally published in The Business Times here. Source: The Business Times © SPH Media Limited. Permission required for reproduction.

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Stories Of Impact

Strengthening Social Services: The Bluejacket Foundation’s Commitment to Capacity and Capability Building

Charities often struggle to secure funding for capacity and capability building, as donors tend to prioritise direct programme support over long-term infrastructure development. Yet, enhancing these areas is crucial for sustaining financial health, delivering effective and reliable services, and increasing their overall impact. Recognising this, the Community Foundation of Singapore (CFS) partnered with the Bluejacket Foundation in November 2022 to launch a two-year pilot initiative—the Capacity and Capability Building Grant—designed to support growth of charities and equip them for greater community contributions.

Charity partners and donors from Bluejacket Foundation gathered at Society for the Aged Sick for a roundtable discussion.

Charities often struggle to secure funding for capacity and capability building, as donors tend to prioritise direct programme support over long-term infrastructure development. Yet, enhancing these areas is crucial for sustaining financial health, delivering effective and reliable services, and increasing their overall impact. Recognising this, the Community Foundation of Singapore (CFS) partnered with the Bluejacket Foundation in November 2022 to launch a two-year pilot initiative—the Capacity and Capability Building Grant—designed to support growth of charities and equip them for greater community contributions.

The grant currently supports six charities, assisting them in retaining and recruiting essential talent, optimising resources, boosting efficiency, and expanding their impact.

The Bluejacket Foundation’s Mission

The Bluejacket Foundation was established by a family-owned shipping business, with ‘Bluejacket’ being a nod to sailors’ traditional blue uniforms. During the pandemic, their business persisted due to the relentless efforts of their crew, many of whom were stuck on ships for up to a year because of restrictions. Reflecting this dedication, the Foundation seeks to aid the committed individuals who work hard to keep charities and non-profits’ engines running. 

As Mr. Teo, the Foundation’s representative explained, “In partnership with the Community Foundation of Singapore, the Capacity and Capability Building Grant supports the development and retention of talent, ensuring charities have the essential workforce to carry out their vital work.”

Bridging the Gaps: A Roundtable on Charity Needs

The roundtable highlighted benefits and key gaps in current funding options.

To help the donors gain deeper insights into the evolving needs of the social service sector, CFS organised a roundtable discussion between the Bluejacket Foundation and the charities supported by the grant. At the discussion, charities candidly shared their experiences with existing funding options, highlighting both the benefits and the critical gaps that need to be addressed.

Charities in Singapore have access to various grants, such as the Community Silver Trust (CST), the Career Conversion Programme for Social Workers (CCP), the Professional Capability Grant (PCG), the Care and Share Grant, and the Community Capability Trust (CCT). These grants support workforce training, staff development, and organisational growth, which have been extremely helpful for enhancing service delivery and building organisational capacity.

However, despite the available funding opportunities, certain needs remain unmet:

  1. Increasing Need for Robust Backend Services: Existing grants usually focus on front-end programmes and manpower training. As services expand and governance requirements increase, charities face challenges in maintaining robust backend support systems, including HR, IT, finance, fundraising, and marketing. Manpower in these areas is often strained as a result.

     

  2. Securing Long-Term Funding in a Competitive Philanthropic Landscape: While government grants provide valuable financial assistance, charities must sustain themselves once the funding ends. Smaller charities, in particular, struggle to secure long-term funding in a competitive philanthropic environment.

     

  3. Attracting Quality Leadership in the Social Services Sector: Effective leadership is essential for the sustainable development and growth of charities. However, attracting and retaining top-tier talent in C-level positions within the social services sector remains challenging due to compensation that often lags behind other industries. While many charity leaders bring invaluable passion and operational expertise, they may lack the broader leadership skills required to effectively manage and guide a charity organisation.

A Sustainable Solution: Many-Helping Hands Approach

It is clear that as the sector continues to evolve, a many-helping-hands approach—involving ongoing collaboration between charities, donors, and the government— is crucial in driving long-term sustainability and effectiveness. While government grants provide support, creating a diversified funding model is essential for long-term success. By fostering talent development and providing additional financial support, initiatives like the Capacity and Capability Building Grant can enable charities to focus on delivering their core missions, enhancing service quality, and addressing emerging community needs.

CFS is proud to be part of this journey of improving the social services sector alongside the Bluejacket Foundation.

Get Involved

CFS is a leading provider of donor-advised funds in Singapore, working with donors to establish and manage funds that align to their values. Contact us to learn how your support for charitable causes can make a greater impact.

 

References

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CFS welcomes new Chairman Christine Ong, succeeding Laurence Lien

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(From left) Catherine Loh, Christine Ong and Laurence Lien.

The Community Foundation of Singapore (CFS) welcomes new Chairman Christine Ong on 1 April 2019, succeeding outgoing Chairman Laurence Lien. The handover was announced at the CFS Philanthropy Forum 2019 held on 18 March.

Signalling a new phase for CFS as the organisation looks to the future, Christine brings extensive experience spanning 30 years from the banking and finance industry, with key leadership positions in Citibank and UBS. She has long been involved in volunteering and mentoring in community regeneration, education and the arts. At UBS, she started a community affairs programme which raised $3 million to support various causes around the region including educating disadvantaged young people in East Java and saving children from being used as drug mules in the Mekong sub-region.

Christine is a current board member of Focus on the Family. She most recently served as Chairman of Arts House Limited and was previously on the board of The Esplanade Co Ltd (2015–2018).

Said Christine, “It is an honour for me to step into Laurence’s giant shoes at CFS. Laurence has not only built a successful organisation but his inclusive leadership has helped forge strong relationships with donors, partners and stakeholders.I am grateful for the opportunity to lead CFS which, over the years, has transformed how philanthropy is approached. As the organisation evolves to respond to an increasingly complex social landscape, I shall continue to build on the trust and meaningful relationships established between donors and charity partners to inspire even more giving and lead CFS into the next decade.”

Laurence was a founding director of CFS when it was launched in 2009, acting CEO from 2009–2013, and has served as its Chairman since 2013. He has been instrumental in introducing the concept of community philanthropy through donor advised funds to Singapore. He played a significant role in helping CFS grow to achieve 126 funds, raising over $134 million and disbursing over $71 million to over 400 charitable organisations in Singapore.

CFS CEO Catherine Loh remarked, “Under Laurence’s strategic leadership, CFS has grown tremendously and established itself as an organisation well-regarded for its community knowledge, professionalism and strategic approach to giving.”

Reflecting on his ten-year tenure at CFS, Laurence said, “When you start a venture in the non-profit sector, you don’t own anything. The rewards are not material but instead a personal satisfaction that comes from knowing you made a difference.”

He cited CFS’s phenomenal four-fold growth in 2018 as a fitting time for his departure, “CFS is really at an inflection point and it is a good time to leave on a high note. I am confident that with a good board and team already in place, and an experienced hand taking over as Chair, CFS will grow from strength to strength, and become a landmark in Singapore’s giving landscape.”

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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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Opinion

A turning point for community philanthropy

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In the life of any organisation, there are special moments that will be remembered as being turning points.

Last month, CFS held our Philanthropy Forum 2019, where we were extremely privileged to have keynote speaker Ms Eileen Heisman share with us several crucial moments in her career that fueled the growth of National Philanthropic Trust (NPT). As its President and CEO, Eileen has been responsible for steering NPT to raising an incredible US$13 billion in charitable contributions over the last 22 years.

Some of you might know Eileen was a founding member of CFS’s international advisory committee 10 years ago. As we come full circle, Eileen was once again in town to encourage, challenge and inspire us with a vision of what CFS can achieve.

Stepping into a new phase of growing philanthropy in Singapore, I believe this time will be remembered as a turning point in CFS’s history, in more ways than one.

We know that community philanthropy is poised for exponential growth in the next decade. The past year has been a phenomenal year for CFS– in financial year 2018, CFS achieved a year-on-year, four-fold increase in donations amounting to S$35 million. A big thank you to our donors, community partners and collaborators for helping to make this possible.

But what else is needed to create lasting social change? How can we grow from smaller, ad hoc and fragmented giving to bigger, better and smarter giving? Donor advised funds are the way to go as they enable smarter, better giving by helping donors give more thought to the purpose of their charitable dollars.

To take CFS into the future, CFS also welcomed our new Chairman Christine Ong on 1 April, taking over the reins from Laurence Lien. I am deeply honoured to have worked closely with Laurence to build a strong foundation for CFS and confident Christine’s extensive experience in banking and finance, corporate social responsibility and the community will usher CFS into a new phase of growth.

It may be another 10 or 20 years before we look back again at this moment, but I’m sure it will be one we will all be proud of.

Catherine Loh
CEO
Community Foundation of Singapore

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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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