Resources

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How Family Offices Could Shape Philanthropy

Singapore has a long history of family philanthropy. The first family foundations were established after World War II and they donated generously to alleviate poverty, care for the vulnerable and build schools and hospitals. Today, there are over 400 foundations and trusts registered with the Commissioner of Charities but families that institutionalized big-ticket giving early on – such as the Lee Foundation and the Lien Foundation – continue to dominate philanthropic giving in Singapore.Family offices are entities which typically manage assets for or on behalf of a family. And Singapore – well-regulated, transparent and politically stable – is rapidly becoming the region’s preferred choice for family offices. In 2020 alone, approximately 200 single family offices were set up here, doubling the total count. As wealth grows, charitable giving is likely to keep climbing.

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Why billionaires are setting up family offices in Singapore

Asia’s billionaires are getting ready to hand over to the next generation, and Singapore is benefiting from the rush to set up new or satellite family offices with an increased focus on philanthropy and impact investing.In recent months, Horizon Ventures, a private investment firm associated with Hong Kong billionaire Li Ka-shing opened an outpost in Singapore.* Oppenheimer Generations, the family office of former De Beers chairman Nicky Oppenheimer, is also in Singapore while Bridgewater Associates founder Ray Dalio and Google co-founder Sergey Brin both set up shop in late 2020.

More philanthropy funds focusing on climate change needed: Reports

To support green causes and efforts to further climate action, Mr David Heng, chief executive of a private equity fund, set up the Mind the Gap 200 – Sustainable Earth fund in 2019.It is part of a project Mr Heng, who is in his 50s, undertook with nine friends and the Community Foundation of Singapore.

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‘I thought I couldn’t go through any more of it’: Cancer patient gets help after insurer says ‘no’ to $33k bill

Good Samaritans have stepped forward to help a cancer patient, who hopes to spend more quality time with her 15-year-old daughter while keeping the disease at bay.The drug that Ms Koh Ee Miang, 45, needs to control the spread of her cancer is expensive, and her insurance company has refused to pay for it – leaving her with an outstanding bill of more than $33,000 for treatment carried out between November and January.

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4 Critical Educational Gaps for Disadvantaged Children & Youth in Singapore

While abilities and talents are distributed equally across the population, access to educational resources is often not. Children from low-income families are the ones who pay the price. Without the right educational opportunities, they underperform in school and end up with lower-paying jobs. Studies show that students from low-income families are more than four times as likely to be low performers than their affluent peers. (OECD, 2016) Without intervention, this cycle of income inequality will persist.The growing special needs community is also in need of our urgent attention. One key area that we highlight is the need for integration with mainstream students. There needs to be greater awareness about creating better school and work opportunities for this community while preparing them to function independently as adults.

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

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.

Law firm Rajah & Tann donates $225k to ST School Pocket Money Fund and Dementia Singapore

Law firm Rajah & Tann (R&T) has contributed $225,000 to The Straits Times School Pocket Money Fund (STSPMF).The donation was part of the firm’s 45th anniversary celebration on Thursday (May 5) at the Ritz-Carlton, Millenia Singapore, where it also gave $225,000 to charity Dementia Singapore.

5 Critical gaps in caring for vulnerable seniors in Singapore

Singapore is fast reaching superaged status. Life expectancy is going up while the birth rate is heading south. By 2030 – not many years from where we are today – one in four Singaporeans will be 65 years or older. More worryingly, a fifth of that cohort will be over 80 (Population in Brief 2021).Ageing well and quality of life are huge concerns for our elderly. The biggest challenges centre on health: physical frailty or disability, sensory impairment such as hearing loss, or chronic conditions such as dementia or diabetes. However, ageing is not just a matter of biophysical health. It is also about bolstering psychological, emotional and community support.

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Here’s how you can help the people of Ukraine – Ways to donate

The Russian invasion of Ukraine is triggering what the United Nations fears could be Europe’s largest refugee crisis this century. More than 2 million people, out of a nation of 44 million, have fled to neighbouring countries since the conflict began.The human cost of the war is alarming and rising by the day. Hundreds of lives have been lost, and thousands of families have been displaced.

poster about sustainable philanthropy: navigating the SDGs with philanthropy

Sustainable Philanthropy Matters: Navigating the SDGs with Philanthropy

In this three-part series ‘Sustainable Philanthropy Matters’, we explore the surprisingly intimate relationship between philanthropy and sustainability and how the practice of one can in fact, lead to the advancement of the other. Both of these issues are close to our hearts here at CFS and we want to share how our philanthropy can help preserve our planet, our communities and our future.Philanthropy has traditionally been aimed at supporting societal needs. In recent years, the increasingly pressing demand for climate reformation requires the influx of tremendous funding to support the advancement of the Sustainable Development Goals (SDGs), from R&D and technological applications to conservation and community efforts. Beyond the responsibilities of governments and businesses, philanthropy has a huge role to play. While this may sound novel, it actually is not and, in this third and final instalment of Sustainable Philanthropy Matters, we examine how philanthropy can help stem the tide of climate change.