The Endowus Giving Machine initiative expands reach islandwide; more ways for Singaporeans to give back this festive season
- Partnering Singtel, First Sentier and Franklin Templeton, the innovative fundraising vending machines are available across the country, encouraging Singaporeans to support local charities and donate to community causes close to their hearts
- Zurich Edge, the digital partnerships arm of Zurich Insurance Group, lends additional support this year to match donations raised through the initiative dollar-for-dollar up to $20,000
The Endowus Giving Machine – a novel initiative which turns the traditional vending machine on its head – has returned for its third edition, encouraging Singaporeans and families to give back during the year-end festive season. This year, Endowus is leveraging strategic partnerships to broaden its impact and do more for the 34 charities supported under this initiative.
Expanding its footprint islandwide, physical and virtual ‘vending machines’ are placed in 24 locations across the city-state. From centrally-located and heartland shopping malls, to high-traffic MRT stations and community spaces, people have the opportunity to choose a charity and donate conveniently, wherever they are. Donors can choose to contribute in $5, $10 or $30 denominations , and the donations will be channelled towards efforts such as purchasing meals for seniors, providing allowance for a needy child, or covering rehabilitation sessions for the disabled. (Refer to Annex A for all locations)
This year, the Endowus Giving Machines initiative is supported by global financial institutions Franklin Templeton and First Sentier Investors, Singapore-headquartered organisations Singtel, Far East Organization, Giving.SG, and SG Cares Giving Week. Additionally, Zurich Edge will provide added support with a dollar-for-dollar matching for selected charities, compounding the funds raised through this initiative.
Samuel Rhee, Co-founder & Chairman of Endowus said “The Endowus Giving Machine initiative was created to improve the giving experience by making it more innovative, curated, and accessible. These are the same core aspects of Endowus’ value proposition as a business and our mission to empower individuals and families to take charge of their finances to live well and live better. During this festive season, we hope that all Singaporeans and families will come together to give generously, support charitable organisations that play such an important role for our inclusive society. We are thrilled to be working hand in hand with so many like-minded strategic partners to amplify our impact across the country, and give Singaporeans even more ways to make a difference in the lives of those in need. Collectively, we can do better and we want to raise a record amount through the initiative this year. ”
The Endowus Giving Machine initiative will run from 15 November 2023 to 15 January 2024. Donations made virtually via www.endowus.com/givingmachine towards charities with IPC status will be applicable for tax deductions. Since the launch of this initiative in 2021, Endowus has raised more than $125K, and has continued to identify vulnerable groups who require financial assistance and has developed an extensive list of beneficiaries to support. All proceeds from the physical machines and online donations will go to not-for-profit organisations listed in Annex B.
The Endowus Giving Machines initiative is part of Endowus Empower, a community impact programme designed to help the underserved, underprivileged and underrepresented build the right financial knowledge through the right resources and access to opportunities. Through educational financial literacy content and continual fundraising efforts, Endowus has been supporting various beneficiaries in Singapore, enabling them to take control of their financial well-being and future.
Please refer to the appendix attached for quotes from Endowus’ key partners in this initiative.