Foundation for the Arts and Social Enterprise is an arts charity founded by Michael Tay in 2013 as a non-profit, and became an arts charity in 2014. It aims to develop the local arts scene, bringing our best talents to the global stage.
Its unique approach to project development and fundraising acts like a venture capitalist in the arts space – developing the project with the artiste, raising funds and implementing the project, including public communications. The goal is to ensure that every project delivers significant impact.
The Foundation connects with business networks and resources to design arts initiatives that benefit both the artistes and business, and ultimately the society. Also, all funds raised by the Foundation are matched by the government, dollar for dollar.
In February 2019, the Foundation received IPC (Institute of Public Character) status, which allows our donors to receive 250% tax deductions.
MISSION & VISION
Our vision is to promote the arts as the creative impulse that drives a first-world society. The Foundation takes a holistic interventionist approach with its projects, engaging meaningfully with government and corporates to help drive its goals toward a vibrant arts ecosystem. In the long term, the Foundation aims to become the premier platform in Asia to generate high-impact arts initiatives, through strategic fund-raising and by extending a regional market for the arts.
Foundation for the Arts and Social Enterprise was established in February 2013 as a non-profit and became an arts charity in September 2014. Consistently involved in the arts scene throughout his diplomatic and business career, its founder, Michael Tay, formed The Foundation to develop and promote private arts projects that both position Singapore globally as an artistic hub and provide a platform for emerging Singaporean artistes.
OUR FINANCIAL COMMITMENT
Foundation for The Arts and Social Enterprise converges the arts and business with philanthropy, and dedicates its ongoing efforts to develop projects in the arts space and socially-oriented initiatives that benefit Singapore and extend the Singapore experience to the region and beyond.
The Foundation achieved charity status in September 2014, which allows us to maximise every dollar we receive for our programmes and initiatives. Tapping into the dollar-for-dollar Cultural Matching Fund for the funds raised from the private sector, The Foundation is well-positioned to expand the realm of possibilities in transforming the arts and social enterprises.
First, with the Cultural Matching Fund, any project can double in size, extend the period of progress, and enhance the quality of the programme outcome. Second, The Foundation will nurture a circle of patrons who will engage directly with the arts community. The idea is to have patron-donors identify their preferred projects and together with The Foundation, venture into the arts space to promote and develop the artistes. The benefit for patrons-donors may not only be monetary, but also a higher value-add in the form of branding and public profile and a direct contribution to the development of the society. Third, The Foundation runs on the fundamental idea of a low investment-high impact approach. The plan is to make modest focused investments that will lead to high impact initiatives. It will take a project-driven approach, raising funds based on an evolving portfolio of projects that addresses the immediate needs of the arts community.
The Foundation takes immense pride in our financial efficiency, accountability and transparency to the public. We work to maximise the value of every dollar we receive. We invite you to explore our initiatives, accomplishments and how we put your money to work.