Corporate Charity.....whatever happen to selfless service??
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My lecturer explained what corporate charity is about today. It seems that those companies that create a big fuss about the amount they donate to a charity organisation have a reason behind it. They do it to evade tax and create an awareness of their company through the mass advertising to tell the public how charitable they are.
I noticed that many of my classmates were surprised by this fact.
Its hard to find a company that donate out of true goodwill.....
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it also shows how shallow your lecturer was
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no one will start a company to donate money.
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singapore pools?Originally posted by Mr Fugue:no one will start a company to donate money. -
Im sure there are a few companies out there who donate privately. They dont want the whole world to know about it-not even IRAS.Originally posted by Mr Fugue:no one will start a company to donate money.
I once spoke to a volunteer at an old aged home and she did mention to me about some kind private donors who secretly makes donation to these small charities,help around, and then dissapear. But she did managed to obtain the namecard of one of the these donors and she was pleasantly surprised.
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we "donate" to it.Originally posted by sgboy2004:singapore pools?
what I meant is the company donate... -
That is individuals contribution. Your first post was on companies donations.Originally posted by shade343:I mean, Im sure there are a few companies out there who donate privately. They dont want the whole world to know about it-not even IRAS.
I once spoke to a volunteer at an old aged home and she did mention to me about some kind private donors who secretly makes donation to these small charities,help around, and then dissapear. But she did managed to obtain the namecard of one of the these donors and she was pleasantly surprised. -
Sorry for the error, accidentally type the I mean. Forgot to mention the guy donated on behalf of his organisation.Originally posted by laurence82:That is individuals contribution. Your first post was on companies donations.
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I wonder which idiot will start a company with his own money just to donate to charities...Originally posted by laurence82:That is individuals contribution. Your first post was on companies donations.
Non-profit biz aside, you're talking abt loss-incurring org!! -
That's just returning to the society... con enough money liao lor...Originally posted by sgboy2004:singapore pools? -
it is a known fact that companies donate for tax deductions. it is very common among the rich too.
but who cares?
as long as the poor and disadvantaged gets to benefit. -
make profit also difficult, want them to give away $$$ for FREE?!Originally posted by shade343:Its hard to find a company that donate out of true goodwill.....
shade343, you're very naive lehz....how abt u being the 1st to start a money-giving company? -
Come to think of it...There is nothing wrong about it, but I feel that it shouldnt really be called donations anymore...Originally posted by dragg:it is a known fact that companies donate for tax deductions. it is very common among the rich too.
but who cares?
as long as the poor and disadvantaged gets to benefit. Sounds like a business deal in which a 3rd party stands to benefit. -
singapore pools has to do it. they make about 4 billion a year.Originally posted by sgboy2004:singapore pools?
a lot of people has been asking where the money goes to. -
I just might...but I doubt you will know about it...Originally posted by Mr Fugue:make profit also difficult, want them to give away $$$ for FREE?!
shade343, you're very naive lehz....how abt u being the 1st to start a money-giving company? -
bad career move....BAD!!!Originally posted by shade343:I just might...but I doubt you will know about it... -
The only companies that donate out of goodwill are Singapore Pools and all the various Foundations : Lee Foundation, Khoo Foundation, Lien Foundation, Cheng Kim Loke Foundation.... to name a few.
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I think SG Pools donate out of guilty conscience... set that kind of odds to rake in money....Originally posted by Honeybunz:The only companies that donate out of goodwill are Singapore Pools and all the various Foundations : Lee Foundation, Khoo Foundation, Lien Foundation, Cheng Kim Loke Foundation.... to name a few. -
r u sure they're not gahmen-funded???Originally posted by Honeybunz:The only companies that donate out of goodwill are Singapore Pools and all the various Foundations : Lee Foundation, Khoo Foundation, Lien Foundation, Cheng Kim Loke Foundation.... to name a few. -
If I'm not wrong, it is some kind of obligation they have for the community. Anyway, any company that has too much money (except the big T) will tend to set up some kind of foundations to find ways to spend the money on charities.Originally posted by WoShiNoobie:I think SG Pools donate out of guilty conscience... set that kind of odds to rake in money....
Eg. Khoo Foundation is set up by the Khoo Family who owns Goodwood Park Hotel, York Hotel and many other investments. Cheng Kim Loke Foundation is by Lady McNeice who inherited a lot of money from her late money. And many more.
So charities will normally write in appeal letters or make cold calls to ask for money.
Oh ya, I missed out this... Shaw Foundation... by the famous Shaw Family who owns Shaw Centre, Shaw Cinema etc etc. Went to Mr Shaw's office once.. didn't have the honour to see him.... but managed to see his "big WOW" office. Really looked like those tycoon's office that you see in HK movies. I don't mind him hiring me as his kopi sor, to make kopi for him every morning. -
They? Which one you mean?Originally posted by Mr Fugue:r u sure they're not gahmen-funded???
Khoo, Lien and Cheng are definitely not. -
http://www.singaporepools.com.sg/Corporate?page=corp_in_the_communityOriginally posted by sgboy2004:singapore pools?
The Singapore community benefits significantly from the sale of our products. Since we started operations in 1968, we have contributed more than $1 billion to support innumerable sports, charity, educational, community and arts projects that have enriched the life of every Singaporean, young and old. In FY 2003/2004, our community funding amounted to more than S$176 million.
From the building of welfare institutions and facilities at the zoo and bird park; from the equipping of kidney dialysis centers to the nurturing of national sports excellence and arts for all – we are proud to be able to contribute the much needed infrastructure, facilities and programs for Singaporeans.
Our surpluses are channeled back to the community through the Singapore Totalisator Board........... -
Its nothing to do with career. Its called selfless service.Originally posted by Mr Fugue:bad career move....BAD!!! -
other than getting tax reduction for corporate donation, companies also donate to boost their corporate image. For eg. SingTel has a helping hand fund, Microsoft donates millions to education in US, etc. This gives the corporation a more human face (rather than the 'I-am-here- to-suck-Your-$$ ' face.. )
Though this is a fact, it doesn't mean that ALL philanthropist's aim is to get tax reduction..
It's like-> for insurance, you can get income tax reduction for your premium payments, BUT that doesn't mean you go out and buy insurance primarily to pay less tax right? Some people may do it, but not all. At the end of the day, as long as the charity benefits, that's what matters. -
I don't really see the fuss and the need for corporates to be 'charitable'.
Any profits they make will ultimately go to the shareholders. Hence, at the end of the day, it's more logical and reasonable for these people to donate at their own goodwill.
By having corporates to donate, these shareholders are indirectly being forced to donate also - not exactly that all would agree to such donations being forced unto them.
Of course, with such, only then does it make logical sense for corporates to donate if it means they could use them as a form of marketing or tax avoidance.