SINGAPORE – More wealthy people are setting up charitable funds that give at least six-figure sums to their chosen causes.There were 143 donor-advised funds set up with the Community Foundation of Singapore (CFS), disbursing $20.2 million to charitable causes in the non-profit organisation’s financial year that ended in March.
The Community Foundation of Singapore (CFS) will be leading the legacy giving initiative and partnering with key stakeholders to grow the giving culture in Singapore.As Singapore’s only community foundation, CFS is fortunate to build on over 11 years of experience, to bring donors, charities and other stakeholders together. Donors have already trusted CFS with over $160 million in donations. More than one-third of these are legacy gifts, which are used to support causes across different sectors, including health, education, research, arts, social and welfare services.
Make savvy giving a legacy in your life: that was the clarion call to around 100 donors, charities and partners at the Community Foundation of Singapore’s (CFS) Lunar New Year lunch held in February.“Being savvy in giving is about going beyond the usual traditions of supporting general fundraising campaigns, to deliberately taking charge of generosity,” shared Christine Ong, Chairman of CFS in her opening speech, “It’s about planning and thinking deeply about how to create a powerful effective result, to improve things and impact lives.”
More people are starting to think about philanthropy and giving back, instead of leaving it as a post-retirement consideration. Thio Shen Yi and Stefanie Yuen Thio, and Adrian and Susan Peh tell Singapore Tatler how they are making more strategic and effective giving through their private charity funds with the Community Foundation of Singapore.
Read more.Courtesy of Singapore Tatler, October 2018
Minister Grace Fu, distinguished guests, ladies and gentlemen,The power of informed giving
Following his great-grandmother’s footsteps, Keith Chua set up a charitable fund to carry on his family’s legacy of giving through the generations.To Keith Chua, the boy, she was the stern matriarch of their large, Peranakan family, to be approached with deference. To the older and bolder teenager, she drew closer – the great-grandmother glad to chat about his day over tea or a shared meal.
I think we can all agree every individual has something unique to give back and offer to society. And yet, when thinking about legacy, how often do we realise that every action we take, however large or small, is actually creating our legacy? Perhaps some of us believe legacy giving is only for wealthier individuals, or that legacy giving can only be defined in financial terms.It’s important to realise legacy is much more than just financial in nature. Your legacy also includes your personal or business values, the values you have inculcated in your children. It encompasses the giving of your time, expertise and even your resources to empower someone in need. Think about creating a legacy as living a life of generosity, in ways that make meaningful social impact while aligning to your values.
Increasingly, individuals and family businesses are consciously looking at ways to create positive social impact through philanthropy – but in today’s world, what does creating a legacy mean from divergent perspectives, from individuals to families, from parent to child?Last November, the CRIB x CFS Legacy and Impact cocktail event brought two prominent families, with extensive histories of giving, together with philanthropists and social capital investors to reflect upon these questions.
Investors and like-minded philanthropists invited by CRIB and the Community Foundation of Singapore gathered at Grand Park Orchard for a panel discussion on November 1, where father-daughter duos Richard and Rebecca Eu, and Keith and Sharon Chua shared their insights and personal anecdotes towards charity and legacy building. The event culminated in a cocktail session as guests indulged in canapés and drinks at the bar, over conversations with old friends and new. Read more.
In his final year as president, Mr S R Nathan – together with a few of his close friends – started discussing with me the idea of starting a philanthropic fund to help “uplift” children from poor families.Coinciding with the launch of Mr Nathan’s memoir An Unexpected Journey: Path To The Presidency in 2011, the S R Nathan Education Upliftment Fund was established to provide financial support to disadvantaged young people by helping them complete their education.
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