corporate overview
GOVERNANCE REPORT
The Board works together with the Management Team, led by the CEO, to manage Halogen Foundation. The Management Team is accountable to the Board.
New Board Members are appointed after nomination and recommendation by the Finance and Establishment Sub-Committee to the Board. All new Board Members will be required to go through an onboarding process and will be provided with an onboarding kit that consists of Halogen Foundation Memorandum and Articles of Association, Manuals, Financial Reports, and Programme Catalogue to familiarise with the work of the organisation. Halogen Foundation provides and looks out for opportunities for training and development of the Board. Should Board Members choose to attend any of the training, a proposal will be put up to the Finance and Establishment Sub-Committee to exercise the training budget. Board Members’ performances are also evaluated annually according to standards set out in the board manual. The policies in the board manual are reviewed yearly and any changes or updates are highlighted and proposed to the Finance and Establishment Sub-Committee for their approval.
All Board Members are made up of volunteers and do not receive any remuneration or Director’s fees. None of the staff sits on the Board. Each term of appointment of Committee Chairpersons (or Co-chairpersons) is two years and each term of appointment of the other Directors is three years. These term limits allow for periodic Board rejuvenation and succession. In accordance with the Code of Governance, the term of the Treasurer (also the Finance and Establishment Committee Chairperson) is capped at four years. The Board meets at least four times a year, with a quorum of at least three members.
The Board has complied with Governance Evaluation Checklist (GEC) which is available for viewing on the charities portal at www.charities.gov.sg.
The Board is led by the Executive Committee (EXCO), consisting of Mr. Ramlee Bin Buang, Mrs. Tan Hwee Seh, Mr. Martin Tan Beng Chong, and Mr. Bill Padfield. The EXCO also forms the Finance and Establishment Sub-Committee.
Name
Date of Appointment / Renewal of Appointment
Attendance
(No. of meetings attended / Total no. of meetings for 2021)
Sub Committee(s)
Tan Beng Chong, Martin
Ramlee Bin Bung
Tan Hwee Seh
Thong Yuen Siew, Jessie
Ann Tan Sian Ann (Dr.)
Mark John Sayer
Seah Gek Choo
Kon Sen Choeng, Derrick
Tan Lai Yuen, Isabella
Aaron Shahril Yusoff Maniam
Bill Padfield
27 May 2021
27 May 2021
20 August 2020
27 May 2021
20 August 2020
20 August 2020
20 August 2020
20 August 2020
20 August 2020
20 August 2020
27 May 2021
4 out of 4
4 out of 4
4 out of 4
4 out of 4
1 out of 4
4 out of 4
3 out of 4
4 out of 4
4 out of 4
4 out of 4
3 out of 4
• Finance & Establishment
• Sponsorship
• Business Development
• Finance & Establishment
• Finance & Establishment
• Sponsorship
• Audit & Risk Management
• Sponsorship
• Sponsorship
• Audit & Risk Management
• Sponsorship
• Business Development
• Investment
• Audit & Risk Management
• Business Development
• Audit & Risk Management
• Business Development
• Sponsorship
• Business Development
• Audit & Risk Management
• Business Development
• Finance & Establishment
• Investment
Board Committees
Apart from the Board of Directors, the Board comprises of the following committees:
-
Finance & Establishment Committee
-
Audit & Risk Management Committee
-
Sponsorship Committee
-
Business Development Committee
-
Investment Committee
These committees have terms of references in place to oversee the different functions of Halogen Foundation. These committees meet at least once a year.
Finance & Establishment Committee
Date of Meeting: 4 November 2021
The Finance & Establishment Committee is responsible for:
-
The general affairs of the Board including nomination and appointment of Directors, Board, and key management succession planning.
-
Overseeing the financial management and compliance with applicable laws and regulations, so as to ensure that its resources are used legitimately and can be accounted for.
-
Overseeing the short and long-term investments and monitoring the investment of the assets of the charity for the sole interest of the charity and its beneficiaries.
-
Overseeing the human resource management of Halogen Foundation, including compensations, benefits, and recruitment of key management personnel.
-
Overseeing the Public Relations/Corporate Communications of Halogen Foundation.
-
Recommending suitable training & development opportunities that the directors may consider, locally or overseas. At the same time, directors may request and/or be invited to participate in internal and/or external training and networking sessions.
Audit & Risk Management Committee
Date of Meeting: 18 May 2021
The Audit & Risk Management Committee is responsible for:
-
Reviewing and endorsing the year-end financial statements and recommending it for Board adoption.
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Reviewing the risk management and internal control processes to ensure that these are adequate with respect to financial reporting, operational, regulatory, and other financial risks.
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Reviewing and recommending to the Board for approval the frameworks and policies for managing risks that are consistent with the organisation’s risk appetite.
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Engaging and facilitating audit of the organisation including ensuring the independence of the auditors, determining the audit fees and adequacy of the overall audit plan.
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Monitoring fundraising efforts to ensure that ethical practices are in place, that donors are acknowledged appropriately, and that fundraising efforts are cost-effective.
Sponsorships Committee
Date of Meeting: 14 December 2021
The Sponsorships Committee is responsible for:
-
Working with staff to establish a fundraising plan that incorporates a series of appropriate vehicles, such as special events, direct mail, fund-raising campaigns, etc.
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Working with fundraising staff in their efforts to raise money.
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Identifying and soliciting funds from external sources of support.
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Leading certain types of outreach efforts, such as chairing a fund-raising event committee or hosting fundraising parties, etc.
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The responsibility of involvement of all Directors in fundraising, such as having Directors themselves make monetary contributions.
Business Development Committee
Date of Meeting: 12 August 2021
The Business Development Committee is responsible for:
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Working with Management to identify, assess, and manage strategic business initiatives and opportunities.
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Reviewing the development and implementation of strategic business development initiatives, ensuring initiatives are consistent and aligned with strategic plans.
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Reviewing and, where appropriate, making recommendations to the Board on business growth and diversification opportunities.
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Working with Management to respond to emerging issues related to business development that have the potential to impact upon Halogen Foundation.
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Monitoring the outcomes of business development initiatives including receiving regular reports and updates from Management regarding progress.
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Overseeing new programme development, monitoring, and assessing outcomes of existing programmes to be in line with the vision, mission, and objectives of Halogen Foundation and guiding development of service delivery mechanism.
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Initiating and guiding programme evaluations.
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Identifying strategic partners for Halogen Foundation to work with or to collaborate and assist in concluding or securing partnerships.
Investment Committee
Date of Meeting: 23 March 2021
The Investment Committee is responsible for:
-
Determining the charity’s financial needs and work with the investment managers to ensure that those needs can be met by cash flows derived from operations, new donations, and investments.
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Determining the charity’s risk tolerance and investment time horizon in consultation with the Board, together with input from the investment consultant.
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Ensuring that the investment objectives, policies, and guidelines are consistent and appropriate.
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Evaluating the performance of the investment manager on a regular basis to ensure that policy guidelines are followed.
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Developing policies and processes including KPIs relating to the hiring and termination of the investment consultant and managers.
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Reviewing the asset allocation on a yearly basis with the help of the investment consultant to ensure that the allocations are appropriate, given a change in the investment environment and/or needs of the organisation.
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Reporting on the investment performance and financial condition of the Fund to the Board on a half-yearly basis.
