LEGACY GIVING

Giving back to society without fuss, the Singaporean way

When people in Singapore hear the word “philanthropy”, I suspect the first picture that crosses their mind is a well-dressed person holding up a large mock cheque at a grand ceremony. Accompanying that mental picture is the thought that philanthropy is too lofty, and unattainable for them. This is understandable, given how the media tends to spotlight the big – and newsworthy – gifts to charities, and how beneficiaries want to recognise such generosity.But the reality, certainly in the time that I have been involved at the Community Foundation of Singapore (CFS), focused on growing philanthropy, is far removed from this. The donors that the team and I have met over the years have been diverse. In many ways, this is a microcosm of Singaporean society.

Building a Legacy: Michael Binger’s Philanthropic Journey in Singapore

Michael Binger relocated to Singapore in 2007 in search of fresh professional opportunities and a change of scenery. Now, sixteen years on, the ex-Vice President of South APAC at Under Armour has not only built a thriving business but also embarked on a meaningful journey of philanthropy, to make a lasting impact in the local community.Finding a Home in Singapore

Donations to CFS increased by 60% over the past two years

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.

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Championing inclusive employment for youths with special needs

For more than 10 years, CFS donors have supported the Metta Welfare Association and its trailblazing Metta Café through the Work Readiness Programme, which equips youths with special needs with the vocational and soft skills they need for the workplace. CFS is commemorating 15 years of giving and this story is one of a three-part series that highlights the strong relationships CFS has fostered with charities over the years.Toh Ming Yi hopes to become a baker one day. The 26-year-old is an apprentice at Metta Café. Under the guidance of patient teachers, he is learning to make cookies, muffins and other baked goods. He is also picking up valuable and complementary life skills like managing money and communicating with customers, which will help him in the working world.

Make An Impact Beyond Your Lifetime

This article first appeared on CFS’s Legacy Giving Website. To find out more about Legacy Giving, please click here.Francis Goh encourages his clients to think of their Last Will and Testament as their love letter to the ones that they are leaving behind. “When a person realises that he or she is a beneficiary of your giving, it is that moment when that person whom you have chosen to bless feels the depth of your love and care,” says Francis, “If you choose to leave a gift to a charitable cause, it is also an expression of your concern for society.”

Structure Your Giving To Create A Greater Impact

This article first appeared on CFS’s Legacy Giving Website. To find out more about Legacy Giving, please click here.Angie Han believes this unprecedented year is sowing the seeds for greater giving in Singapore. “Many of us are witnessing the impact on vulnerable communities,” remarks Angie, ” As a result, in addition to wanting to give back to the community, many also wish to move beyond one-off, ad-hoc responses to a more sustainable and impactful giving.”

Helping Clients Grow Their Giving

This article first appeared on CFS’s Legacy Giving Website. To find out more about Legacy Giving, please click here.Legacy giving enables you to make a difference beyond your lifetime. In support of CFS’ campaign for “A Greater Gift”, IPG Howden has partnered CFS to inspire individuals to include gifts to charities in their wealth planning.

Following His Calling In Planned Giving

This article first appeared on CFS’s Legacy Giving Website. To find out more about Legacy Giving, please click here.Do you need to wait until you are wealthy to start giving? For Allen Lim, the answer is an emphatic no, but with one distinct caveat. “It’s very important that giving takes into account your and your family’s financial security,” insists Allen, “That’s why planning is crucial, because with the right strategy, you can do both.”

Sparking Powerful Conversations Around Giving

This article first appeared on CFS’s Legacy Giving Website. To find out more about Legacy Giving, please click here.Start a conversation, because asking the right questions can help shape your clients’ giving intentions. “Conversations are powerful because they drive thinking around why, who and when your client would like to give,” shares Valerie Wu.

#MyGivingJourney x Nadia Ahmad Samdin: Changing the game for giving  

CFS’s #MyGivingJourney series portrays extraordinary women and their efforts in philanthropy. This story features Nadia Ahmad Samdin, CFS’s legacy giving ambassador and a woman who wears many hats. Many who donate to charity often ask: For every dollar they give, what good actually comes of it? Nadia Ahmad Samdin believes increasingly, we will be able to answer that. In a world where tracking usage is commonplace – from our phone use to carbon footprint– a data-driven approach to philanthropy could be a game-changer. The Community Foundation of Singapore (CFS) aligns with Nadia’s belief and strives to be a trustworthy organisation that is transparent and accountable.