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Beyond cultural philanthropy: The art of making a difference

Last month’s Patron of the Arts event was a spot of sunlight at a time of gloomy Covid-19 headlines. The fact that Singaporeans – individuals as well as corporations – are still strongly supporting our arts groups in cash donations as well as with in-kind gifts was a heartening takeaway for everyone who cares for the arts and cultural scene in our country.The annual awards – alongside a similar counterpart in the heritage sector – are a meaningful way to thank those who have been generous to the cultural landscape. And I am sure patrons also enjoy being in the limelight for an evening and being recognised for the vital support that they give to Singapore’s culture.

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Meet Singapore’s newer philanthropic foundations: They give millions, seeking to spark social change

Self-made businessman Lew Chee Beng, 73, is giving away a substantial part of his fortune through a foundation. Since he founded the Lew Foundation in 2015, it has donated more than $12 million to charitable causes. Mr Yeo Puay Hin, the foundation’s executive director and Mr Lew’s son-in-law, said of his father-in-law: “He came from humble beginnings, so it’s about gratitude – to give back to society and helping those who are disadvantaged.”
The Lew Foundation was the 16th-largest philanthropic foundation here, giving out $2.8 million in donations in 2019, according to a recent report on the largest foundations here. Mr Lew, who has four children, built his wealth from a range of businesses, such as Soon Huat Goldsmith and pawnshop chain Shing Heng Group. The foundation’s main focus is to help the vulnerable elderly and young people, and it does so through supporting healthcare and social services serving these two groups. For example, it is supporting about five nursing homes, fulfilling Mr Lew’s late mother’s wish of setting up a nursing home.The Lew Foundation is one of the newer foundations listed in a recent report by Soristic Impact Collective, a consultancy, that shed light on the largest philanthropic foundations here in terms of expenditure. The research found that foundations set up by some of Singapore’s richest men are among the top 10 biggest givers out of the 91 foundations here. The Lee Foundation, founded by the late rubber tycoon Lee Kong Chian in 1952, topped the list, disbursing $52 million in donations in its latest financial year.

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Our Annual Report 2021 is now available for download

We are pleased to share that the Community Foundation of Singapore (CFS) Annual Report 2021 has been published. Download your copy here to learn more about the year’s highlights and our impact on the community.Even as the pandemic gripped our nation, we are humbled to report that – together with our donors, charities, and partners – CFS delivered a year of bold action and made tremendous progress on our mission to facilitate impactful giving.

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CFS is 3rd largest philanthropic foundation in Singapore

They were immigrants who became titans of industry and philanthropists in their own right. Now the legacies endowed by and named for some of Singapore’s richest tycoons – the Lee, Lien and Shaw foundations – continue to be some of the biggest givers to charity here.All three were among Singapore’s 10 largest philanthropic foundations, according to a report released last month.

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Donor-advised funds can make a meaningful impact in Asia

Such funds give donors more say in the philanthropic process, and can lead to donors being tipped off about underfunded causes. These funds also make it possible for non-millionaires to do their bit.What do Jack Dorsey, Larry Page, Elon Musk, Jack Ma and Mark Zuckerberg have in common in terms of their charitable giving?

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LIFT (Learning Initiatives for Employment) Community Impact Fund – Training and increasing employability for marginalised groups

The Learning Initiatives for Employment (LIFT) Community Impact Fund (CIF) from the Community Foundation of Singapore (CFS) provides social enterprise funding to enable disadvantaged groups to obtain training in order to be more employable.The funding provided has allowed two social enterprises, the Bettr Barista Coffee Academy and Dignity Kitchen develop a more standardised training programme for their students, as well as expand the number of training places available to aid more disadvantaged groups to enter the workforce.

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SR Nathan Education Upliftment Fund (SRNEUF) continues to transform lives in its 10th year

Former President of Singapore, the late SR Nathan established the SR Nathan Education Upliftment Fund (SRNEUF) in 2011 to provide financial assistance to students, ensuring that they remain in school and are able to further their higher education.Managed by CFS, the fund supports programmes such as the Monthly Financial Assistance Scheme (MFAS) by ITE, which gives allowance to underprivileged students for their transportation needs and meals, reducing their financial burden/challenges so that they can focus on their studies.

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All about legacy giving

LEGACY giving is not the prerogative of the ultra-wealthy alone. That is the mindset the Community Foundation of Singapore (CFS) wants to inculcate with its latest movement – the Legacy Giving Initiative (LGI) – which was launched by a campaign called A Greater Gift last November.According to a Social Pulse survey, while the majority of respondents (83 per cent) flagged awareness on what legacy giving is, only 33 per cent considered legacy as a means of giving, and just 3 per cent indicated they would take action.

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