Introducing the Towards the Light Wellbeing Foundation: money we hope never to use

Three weeks ago we launched Employee Wellbeing and set up an independent wellbeing committee. Many colleagues asked the same question when they read it: the committee says it can offer financial help, medical care and counselling — where does the money come from?

It is a good question. A promise without a clear source of money becomes a slogan sooner or later. So today we are writing the answer down: Singfung Group has set up the Towards the Light Wellbeing Foundation.

Where the money comes from

The foundation has clear and lasting sources of money:

• Every year, once the group has met its goals and covered its costs and wellbeing spending, the surplus goes into the foundation. The first allocation, made today, is 200,000 US dollars.
• Colleagues can give every year or whenever they wish, any amount, by name or anonymously; for every dollar a colleague gives, the group adds another.
• Money not yet needed is invested conservatively by Goldman Sachs (Singapore). Every return stays in the foundation and never goes back to the group as profit.

What it does

The foundation helps colleagues and their families through the unexpected: sudden financial hardship, medical costs and specialist medicines beyond insurance, professional and confidential counselling, a compassionate payment when a family member dies, help case by case when serious illness is more than a family can bear, and legal support — with the law firm we work with — after an accident or injustice. Where the criteria for a grant are not met, an interest-free loan over a very long term is still available.

The foundation first; if that is not enough, all of us

When someone needs help, only the wellbeing committee sees the request, and by default the foundation helps directly — nobody has to make their difficulty public. Only if the need is more than the foundation can cover, and only with the person’s clear consent, does the foundation post it in the staff portal and open a fundraiser — by name or anonymously.

Every entry open to question

• Anyone can ask for any entry in the foundation’s books to be disclosed; if a question is hard to ask, or you worry how others will see you, you can ask anonymously.
• Every quarter and every year we publish the balance, the investment returns, and the purpose, amount and recipient of every item of spending; whether a recipient is named or anonymised is their own choice.
• Every entry in the foundation’s books is independently audited by Goldman Sachs (Singapore).

Why “Towards the Light”

Every life has its rainy season. We cannot stop the rain, but we can make sure no one has to stand in it alone — and we hope every colleague who goes through a hard time can find their way out, and grow towards the light again.

We very much hope this money is never used — because if it isn’t, everyone has come through safe and well. But if the day comes when it is needed, it will be there.