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Donations to CFS increased by 60% over the past two years新加坡社区基金会两年多善款增六成

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Home Resources News Donations to CFS increased by 60% over the past two years新加坡社区基金会两年多善款增六成

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Donations to CFS increased by 60% over the past two years新加坡社区基金会两年多善款增六成

March 27, 2024

Over two years, the number of Donor-Advised Funds (DAFs) managed by the Community Foundation of Singapore (CFS) has increased from 162 to 235, and total donations received since inception has risen from $192 million to $311 million. As of 31 December 2023, CFS has disbursed over $169 million in grants, a big jump from the $114 million disbursed as of 31 March 2021.

Speaking to Zaobao, CEO Ms Catherine Loh, shared that one reason for the significant increase in donations was due to a few large donations exceeding $10 million over the past three years. She also highlighted the introduction of Legacy Giving by CFS, and the organisation’s efforts to work more closely with financial and legal advisors to promote philanthropy. Notably, about 15% of CFS’s DAFs are memorial in nature, including the recently established Adrian Tan Memorial Fund in 2023.

Learn more about our DAFs at https://cf.org.sg/donors/donor-advised-funds/.

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过去两年多，新加坡社区基金会管理的慈善基金从162个增至235个，善款从1亿9200万元提高到3亿1100万元，增约六成，显示国人对慈善的意识不断提高。

截至2023年12月31日，新加坡社区基金会（The Community Foundation of Singapore，简称基金会）发放的善款超过1亿6900万元，比截至2021年3月31日的超过1亿1400万元多，造福更多人。

新加坡社区基金会总裁罗佩仪答复《联合早报》询问时说，过去三年，基金会接到几个超过1000万元的慈善基金，这是善款增加的其中原因。

另一原因是因为基金会积极推广遗赠项目，并且与财务专员和律师更紧密合作，让更多人认识基金项目，所以取得积极成效。

基金会在2008年成立，通过可持续、妥善和具透明度的方式，协助个人、家庭或企业设立或管理慈善基金。

捐款者能以自己、家人或公司名义设立基金，或为逝者设立基金。遗赠可包括现金、提名基金会为受益人的保险赔付或公积金存款，以及有价证券或房地产等。

捐赠者可指定受惠者，基金会将与相关慈善团体配对，制定有效的行善策略。

基金会与超过400个慈善伙伴合作，协助对象广泛，包括孩童、年长者、客工或社会边缘人，援助范围包括医疗、教育、艺术和动物福利等。

罗佩仪说，基金会管理的“捐献者指示基金”（Donor Advised Funds）分三类，一种是捐赠基金（Endowment fund），慈善资产将永久保存在社区基金会并进行投资，投资收益直接用在所选择支持的慈善机构和项目。

第二种属于流转基金（Flow-Through Fund），在特定时期内支持个人选定、所喜爱的慈善机构和项目，占总指示基金约75%。另一种是可投资流转基金（Investible Flow-Through Fund），捐款用于投资，投资回报和本金都可用于个人选择的慈善事业。

捐献者指示基金目前最大款项超过2000万元

在捐献者指示基金中，目前款项最大的超过2000万元，而总指示基金也有约15%属于纪念性质的基金，包括去年设立的陈锦海纪念基金。

她说，陈锦海纪念基金是陈锦海妻子为了向亡夫致敬，并支持他生前热衷的慈善事业而设的。

“纪念基金是缅怀亲人的绝佳方式。我们当中的许多人都是读陈锦海的书长大的，很荣幸能与陈太太合作向他致敬。陈锦海纪念基金确保他的遗赠得以延续，支持他生前关心的公益事业。”

罗佩仪也指出，可投资流转基金是一种新的基金类型，“我们看到捐助者的需求不断增加，他们希望利用捐款投资获取回报，并灵活使用捐款和投资回报，支持所选择的慈善机构。”

已故前总统纳丹生前设立“纳丹教育提升基金”

已故前总统纳丹于2011年卸下总统职务时，通过社区基金会，以他的名义设立“纳丹教育提升基金”。

属于捐赠基金的纳丹教育提升基金，两年多前累积逾1000万元资金。

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，通过助学金、奖学金，以及各项经济援助计划，支持工艺教育局以下工艺教育学院和高等教育学府的贫困学生顺利升学。纳丹2016年逝世，享年92岁。

信用：联合早报©新报业媒体有限公司。复制需要许可

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

Related Topics For You: ACCESSING QUALITY EDUCATION, ADVISOR STORIES, DONOR STORIES, DONOR-ADVISED FUND, LEGACY GIVING, NEWS, STORIES OF IMPACT

Opinion

How Donor-Advised Funds (DAFs) present an innovative and structured solution to Singapore’s philanthropic landscape

John Doe

A history of giving in Singapore and its philanthropic landscape

Philanthropy has seen an evolution over the years, which saw a corresponding increase in family support services due to the development of more HDBs to house our growing population.

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As the philanthropic landscape developed and progressed, there was a more targeted response in the 90s by philanthropists seeking to fill in the gaps in philanthropy and wanting to have more of a say in order to shake up the system.

As a result, CFS was founded to promote philanthropy, seeing as philanthropists were stepping up and starting family foundations, and how Singapore has a very active philanthropy landscape in spite of its size.

To date, the current number of charities in Singapore stands at over 2000. However, it was not only charities that received donations but also social enterprises and ground-up groups, especially during the Covid-19 period.

There are very stringent processes to achieve a charity status, charities in Singapore are generally well managed and of the 2000 charities, 600 have attained an IPC status.

“Singaporeans have also been extremely generous thus far, and gave a total of 1.9 billion in 2019. This generosity is an important focal point, as there is an onus and more incentives for charities to work directly with philanthropists and givers to come up with new and innovative programmes,” says Catherine, CEO of CFS.

Donor-Advised Funds (DAFs) and CFS’s role as a community foundation in Singapore

CFS’s role as a community foundation in the philanthropic ecosystem is to enable philanthropy, foster giving and promote values such as the Legacy Giving Initiative (LGI). The LGI is a concept that anyone in Singapore, regardless of status and wealth, can leave a legacy by giving to a cause close to their heart.

As philanthropy continues to evolve, donors have become more discerning and want to know how the impact of their philanthropy is measured.

There is also a need for philanthropy in Singapore despite it being a wealthy city state, as there is still relative poverty and thus a need to uplift every segment of the nation. There are key issues that need support and funding in Singapore, three areas of which are our rapidly aging society, social income inequality, and inclusivity and sustainability; where people with disabilities and environmental issues need support.

CFS is also seeing an increase in international donors in Singapore, which could be Singaporeans looking to expand their overseas businesses in Singapore, or foreigners setting up family offices in Singapore.

By partnering with CFS, a donor can establish a named donor-advised fund (DAF), a modern philanthropy tool.

A DAF is a simple and cost-effective way to support a wide range of charities in Singapore. CFS will handle the fund administration and provide philanthropy advice to ensure that our donor’s giving makes a strategic impact to the causes that our donors support.

With a DAF, donors can enjoy upfront tax deductions in Singapore at the prevailing tax deduction rate1 on eligible donations.

1Subject to IRAS regulations.

How to get started?

DAFs can be set up by an individual, a beneficiary of a will, a trust, or by a family office.

CFS philanthropy advisors will inquire about the donor’s interests and leveraging on deep understanding of local issues and extensive network, CFS has unparalleled insight into Singapore’s charitable landscape and community needs to translate the donor’s interests and goals into a defined plan.

CFS handles all the administration required in managing the DAF, donors will save on legal expenses and enjoy tax deductions upfront. Donors will also receive regular statements tracking incoming donations to the DAF and outgoing disbursements to charities.

CEO Catherine Loh gives a WMI-GFO Circle Impact Masterclass on CFS’s role in philanthropy in Singapore

CFS’s CEO Catherine Loh was invited as a guest speaker and part of the panel to speak about CFS and philanthropy in a WMI-GFO Circle Impact Masterclass webinar organised by the Wealth Management Institute (WMI) titled ‘Global Giving, Asian Innovation’.

The webinar’s aim is to address how philanthropy can support the greatest issues of our times, including issues stemming from ever-rising income inequality and climate change, to the health of our civil society and the pandemic.

The panel presentation hopes to empower family office principals, representatives and philanthropy advisors to help their clients achieve their philanthropic goals, and offer best practices, tips, and considerations for advisors serving philanthropists and their family offices.

If you would like to begin your giving journey with CFS, get in touch with us.

Related Topics For You: ACCESSING QUALITY EDUCATION, ADVISOR STORIES, DONOR STORIES, DONOR-ADVISED FUND, LEGACY GIVING, NEWS, STORIES OF IMPACT

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News

The Straits Times – More wealthy donors setting up private charity funds

John Doe

More wealthy people are setting up private charity funds through which they can give away their riches, according to a foundation that helps such individuals set up the funds.

The Community Foundation of Singapore (CFS) said it has seen the number of individual donors rise from seven in 2008 to 97 this year. Each of the funds must have at least $200,000.

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The benefactors are getting younger, too. There was just one under the age of 50 in 2008 when the foundation was set up, but the number has soared to 39 this year.

The number of charity funds under the foundation’s care rose from seven in 2008 to 110 this year. A charity fund can support several causes over a longer period of time compared to a straight-up, one-time donation to a charity.

Said foundation chairman Laurence Lien: “We observe that donors are not waiting till retirement age to start thinking about philanthropy and giving back.”

The foundation was set up and registered as a charity in 2008 as a vehicle to boost philanthropy among Singapore’s growing number of millionaires. It helps the donors set up the funds, look for suitable beneficiaries and disburse the money over a period of time. The donors get to name their funds and decide what causes to support.

When the foundation started, five donors – three individuals, Swiss Bank UBS AG and the Khoo Foundation – gave $13 million in total to kick off the foundation.

The individuals were property developer Simon Cheong, retired businessman William Bird and businessman Stanley Tan.

The total donations raised by the foundation through these private charity funds crossed the $100 million mark this year.

From 2008 to 2013, the foundation handed out $12 million in grants to about 130 charities. By this year, it gave out five times more money – $60 million – to 400 charities.

Besides donating more money, donors are also asking more questions and getting involved by volunteering in the charities they give to, Mr Lien noted.

“Philanthropists today are increasingly sophisticated,” he said, adding: “They look for more involvement and greater accountability for their donations. They want to find out who they are truly helping and whether programmes can be sustained after funding ends.”

Such donations from wealthy individuals are expected to grow. “We think that there are many latent givers in Singapore – those who want to give more but do not know how, so they end up putting off their giving,” he said.

There are about 152,000 millionaires in Singapore, according to the Credit Suisse Research Institute’s 2017 Global Wealth Report. A millionaire is a person whose net worth – assets minus debt – is worth more than one million dollars.

The trend of more younger people donating to charity is not restricted to millionaires.

The National Volunteer and Philanthropy Centre (NVPC), the national body that promotes volunteerism and philanthropy, said its survey showed that those between 35 and 44 donate more than those in other age groups.

“The mid-lifers, dubbed as ‘Generation Stretched’, are still giving in spite of the various demands in life,” said NVPC chairman Mildred Tan.

While younger people may be donating more, she added: “We hope to motivate and encourage people to continue giving throughout their lives.”

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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News

Four teachers recognised for excellence in early childhood, special needs education

John Doe

Ms Sulochanah Kanapathy’s pupil was already four years old but he could not say a word.

But Ms Sulochanah, 47, was determined to help, and taught the child with special needs to speak his first words.

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The teacher from Ramakrishna Mission Sarada Kindergarten went the extra mile by conducting home visits, giving the child additional teaching materials, and training his parents to better manage his learning.

That incident from seven years ago drove her to take a course in special needs education to understand children with such challenges better.

On Wednesday (Nov 24), she received the Leading Foundation Teacher Award, in the Early Childhood Educator category, at the National Institute of Education (NIE) in Nanyang Technological University.

Besides Ms Sulochanah, Ms A. Neshanthini Neelamohan, 33, from Sparkletots Preschool @ Braddell Heights Block 246, also received the Leading Foundation Award in the same category.

Ms Wong Jia Min, 34, from Fei Yue Community Services and Mrs Lee E-Lyn, 47, from Methodist Girls’ School (Primary) received the Leading Foundation Award in the Special Needs Educator Category.

The Leading Foundation Teacher Award, established in 2013, recognises excellence in early childhood, special needs and allied educators who have made significant contributions to the well-being and teaching of their students. It is administered by NIE and the Community Foundation of Singapore.

The four were selected through appraisals and interviews by the judging panel, which comprised members from NIE, the Ministry of Education and the National Institute of Early Childhood Development.

This year, there were a total of 57 nominations.

Among the winners was Ms Neshanthini,who is a firm believer in ensuring that her lessons appeal to all types of learners.

There is always something for her pupils, be it visual, auditory or tactile. For instance, she often uses food essence to stimulate her pupils’ senses as part of sensory play, she said.

As for Ms Wong Jia Min, she believes parental support is key to a child’s development.

For example, Ms Wong brought in a professional sign language interpreter so that a student with behavioural issues could communicate more effectively with her deaf parents.

Many house visits later, Ms Wong and a social worker noticed a major positive change in the student’s behaviour.

Mrs Lee, on the other hand, uses humour in her classes to allow her students to express themselves and to feel relaxed in a safe environment.

For instance, she records the children’s voices and plays the recordings back during oral practice. She focuses heavily on celebrating small successes and encouraging them.

“I’m not just their teacher, but their cheerleader too,” she said.

The awards are sponsored by The Leading Foundation, which was co-founded by Mr Lim Siong Guan, a professor in the Lee Kuan Yew School of Public Policy, and a former head of the Singapore Civil Service, with Ms Joanne H. Lim, founder of a communications consultancy.

Mrs Jennifer Lim, Prof Lim’s wife and the guest of honour, presented the awards to the winners, who also received a cash award of $2,500 and a certificate each.

Winners list
Early Childhood Educator category
Ms A. Neshanthini Neelamohan, 33, PCF Sparkletots Preschool @ Braddell Heights Blk 246
Ms Sulochanah Kanapathy, 47, Ramakrishna Mission Sarada Kindergarten

Special Needs Educator category
Mrs Lee E-Lyn, 47, Methodist Girls’ School (Primary)
Ms Wong Jia Min, 34, Fei Yue Community Services

If you would like to begin your giving journey with us at CFS, please read more 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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Stories Of Impact

#MyGivingJourney X Jenny Wah: Transforming customer experiences to reignite growth

John Doe

#MyGivingJourney is a series by CFS where we feature extraordinary women in Singapore and their efforts in philanthropy. In our last feature, we have one of our own – Jenny Wah, CFS’s Director of Marketing & Communications.

Jenny Wah chalked up over 20 years of marketing experience at several MNC companies. She started in Key Account/Brand Marketing in the FMCG industry with brands such as Coca-Cola & Pokka. Then she spent the bulk of her marketing career in the IT industry with Adobe and Autodesk. She led global teams and worked with diverse clients all over the map. The demands were dizzying, as were her frequent flyer miles.

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It was a career that rewarded on many fronts. Then the COVID-19 pandemic hit, leaving many businesses and employees reeling. The pandemic was called a ‘great equaliser’; however, COVID-19 also revealed glaring inequalities in societies. For her, this was a period of introspection that led to a flash of insight and courage. Jenny recalls: “I found myself wondering, what could I do that can contribute to a more equal society?”

So when the opportunity to join the Community Foundation of Singapore came along, she decided to take up the role of Marketing and Strategic Communication Director.

Equality of opportunity and social mobility have long shaped Jenny’s outlook towards a purposeful life. One of three children of a mechanic and a housewife, she understands the struggles of many lower-income families.

Growing up, Chinese New Year was a particularly poignant time. For her, it was a window into how altruism can uplift lives: each year, the Chinese clans would give out bursaries to help students in need, as well as items like school books, shoes and uniforms. Jenny was one such beneficiary.

Education was Jenny’s springboard to a better future. Armed with a B. Business (Honours) degree from NTU and later an MBA, she embarked on a career in sales and marketing, garnering a reputation for her can-do spirit and creative solutions. She often spearheaded her firms’ corporate social responsibility efforts as well, which she found fulfilling. Four years ago, she started volunteering as a museum host at the National Museum of Singapore, feeding her passion for culture and history.

Crossing over to a nonprofit meant new challenges. Budgets were smaller and there weren’t as many hands on deck. Jenny learnt to work around this by tapping into her network for pro bono services and negotiating goodwill with vendors. She also had to build a team from scratch.

However, all this was made easier by the warmth and commitment of the people she worked with. “Everyone double or triple hats and works together for the collective and greater good, never losing sight of the big picture” she notes. Most importantly, she adds, “I see my work here initiating positive change and making a difference.”

Jenny believes that technology can deliver an impactful customer journey in a consistent, personalized and scalable fashion through transformative concepts such as marketing automation, nurturing through compelling content and relationship marketing.

“For me ‘Customer Experience’ is not marketing fluff, it’s a work ideology that needs to be at the core of everything we do professionally. I believe that both ‘People’ and the ‘Promises’ we make are at the very heart of CFS’s Brand. I am proud to work in CFS which offers the unique opportunity to be a part of something that will profoundly impact society,” she says.

Begin your own journey of giving with CFS. Read more about the #MyGivingJourney series here.

This article was written by Sunita Sue Leng, a former financial analyst and journalist, who believes that the written word can be a force for good. She hopes to someday write something worth plagiarising.