Blackstone Commits Nearly $600,000 to Support COVID-19 Relief Efforts in Singapore
The donation will support Community Chest in its efforts to help at-risk communities, including low-income families, foreign workers, senior citizens, and individuals with mental health conditions
Singapore, June 5, 2020 – Blackstone Singapore announced today a donation of nearly $600,000 to Community Chest, the fundraising and engagement arm of the National Council of Social Service. The contribution will provide assistance for vulnerable members of the community impacted by the COVID-19 outbreak and includes funding from Blackstone Singapore, its employees and the Blackstone Charitable Foundation.
“The COVID-19 pandemic has had a devastating impact on millions of people around the world,” said Gautam Banerjee, Chairman of Blackstone Singapore. “Governments, multilateral agencies, civil societies and individuals, particularly health and social workers, have been working tirelessly to protect lives and livelihoods. It is in keeping with this spirit that we at Blackstone Singapore, together with the Blackstone Charitable Foundation, stand in solidarity with Community Chest to help those in Singapore who are most impacted by this pandemic.”
The donation to Community Chest will go towards uplifting the lives of social service users, including low-income families, foreign workers, senior citizens, and individuals with mental health conditions, who have experienced challenges on multiple fronts during this difficult period.
“We are deeply grateful for the generous support from Blackstone to enable our social service agencies to continue providing critical services to vulnerable communities. Blackstone has also been exemplary in its efforts in uniting their staff to care for the disadvantaged. This is indeed a testament to their commitment in strengthening the communities in Singapore so that we will emerge stronger together,” said Phillip Tan, Chairman of Community Chest.
Community Chest supports 80 social service agencies in Singapore through fundraising and building collaborative and impactful partnerships in the community. Since its establishment in 1983, Community Chest has been at the forefront of the nation’s efforts to care for the disadvantaged in Singapore so that social service users can be empowered to live a life of dignity.
Blackstone has been operating in Singapore for nearly a decade and working with Singapore companies for more than three decades.
About the Blackstone Charitable Foundation
The Blackstone Charitable Foundation was founded at the time of Blackstone’s IPO in 2007 with substantial commitments from the Firm’s employees. Influenced by the enterprising heritage of the firm and its founders, The Blackstone Charitable Foundation is directing its resources and applying the intellectual capital of the firm to foster entrepreneurship in areas nationwide and globally. Through its investment expertise across several asset classes and geographies, Blackstone has a unique perspective on the global economy and a heightened understanding of how entrepreneurial activity is often the crucial catalyst in the growth of successful businesses, industries and communities. For more information, see http://www.blackstone.com/foundation.
About Community Chest
As the hallmark of care and share, Community Chest has been uniting the community to fundraise and serve those in need, since 1983. Under the Bicentennial Community Fund, the Government will provide dollar-for-dollar matching for donations* to Community Chest, up to 20% of the total funds raised from 1 April 2019 to 31 December 2020. Through this, Community Chest hopes to encourage the community to give and maximize the impact to enhance the sector’s capabilities, create impactful partnerships and make caring a part of our everyday lives.
Community Chest supports about 80 social service agencies to meet underserved, critical social needs. As our fundraising and operating costs are covered mainly by Tote Board Group, 100% of your contributions goes towards empowering the lives of:
- Adults with disabilities
- Children with special needs and youth-at-risk
- Families in need
- Persons with mental health conditions
- Vulnerable seniors
*Donations include all private cash donations. Grants from government agencies, including Tote Board, which are not donations will not qualify for the matching. Community Chest, as the fundraising arm of the National Council of Social Service, will not be subject to the S$400,000 per IPC cap. Instead, 20% of the total donation (net of the donation that is already matched by existing grants) received by ComChest in the qualifying period will be matched by the BCF.
Find out more at comchest.sg.