Funding SHC for the next 5-10 years

SHC is not funded by any individual or organisation. All activities are voluntary and at costs. EO usually report losing money despite putting in time, effort and costs

We can carry on as we have done for the last 15 years.

A common question which members asked is how much do we have under the pillow. My answer is Zero.

At the recent feedback on finding a successor, we had some suggestions to raise funds. We had not considered because many members felt we should remain status quo because of legal concerns and how to go about. I am not in favour of fees and subscriptions. I think that collecting fees is a debate itself as members have expressed strongly they benefit differently from SHC besides the legalities, so fees or subscriptions is an unfair concept.

But we should still explore how we can fund ourselves. Besides the operational costs, we should now look forward the next 5-10 years how to manage new seniors expectations eg how to handle major events, membership drives without running losses.

If we have a fund, we can see ourselves operating as a voluntary social club for the next 5 or even 10 years. This will enable the Club successor and the Admin committee to run SHC, within rules set.

To start the process, I like to initiate 2 brainstorms sessions. Members get to voice your opinion and suggestion.

Session 1 – What are the big ticket activities or ideas, you, as a member, expect or hope to see within the next 5-10 years. Date next Sat/Sun.

Session 2 – We should then determine a budget as our aim for a fund. Here, we brainstorm how can go about setting a fund.

Both sessions are recorded, for members update.

You can also participate in this topic in SilverHairsClub.com forum.

Terence Seah

16 thoughts on “Funding SHC for the next 5-10 years

  1. From Bobby Yee:

    First there MUST be a BUDGET. What is the amount of $ per year are we looking at? We can do away with forming an entity by describing any monies from anyone as contributions. Example, a friend used to have a boat. So weekends we go out to sea. Those who go contribute to the petrol etc. it is ad hoc and no records are kept. Very small group. For SHC, even if 10% will be in the 100s. So look like need an organization. This means, registration with ROS. Get approval for constitution etc. Then proper records git to kept. Then AGM etc.

  2. From Nomari Lee

    It will b tough to collect fees s many will not agree n u r right once u collect fees it’s subject to legal regulations n someone has to keep accounts etc etc . Then u hv to appoint committee members to b nominated at a proper meeting like a condo management council (mcst) since they will b entrusted w
    Money n r answerable to not just members but all members n r hv legal responsibilites. Eg we hv read of temples committee members who cheated on donations . N will they work for free or charge a fee ? Rather complicated . What’s wrong w staying s is ? events that involve having to spend money n those who want to join just share costs . Clean n simple . Y give ourselves so much trouble . ? We r Silver hairs – enjoy last part of our lives n hv fun no need all these hassles . Just my 2 cents worth

  3. Another good example, years back, I (as EO) organized an IT talk (for SHCians) in a condo facility space. Not counting my taxi fares to bring the monitor, computer, etc. (at my costs), I still need to pay the condo management a small rental fee (I think about $15). There were about 20 of us in the gathering, I explained and go round to collect $1 each (at random) until exactly $15 and stop there. This prevented me to hv the headache of holding a balance of $5.

    No record made and event went on smoothly and everyone is happy.

  4. There are 2 sessions on this topic.

    Session 1 covers the club operations over the next 5-10 years. What kind of activitiea, big ticket events, structural changes are you expecting? Think membership drives.

    Date:Sun 4Jul at 3pm one hour. Live recording.

    Feedback channels includr Whatsapp, our forum website.

    Plse think long terms 5 – 10 years.

    Session 2 identifies the budget and how we can raise this budget.

    Step by step Session 1 first.

    Terence Seah

  5. The last brainstorm session for members to feedback what they would like to see in the club for the next 5-10 years was conducted over zoom a d recorded. Other ideas were received on whatsapp or the Club forum.

    For those who had not send in their feedback, we take itthat you prefer status quo.

    Today’s recording will be available coming Wednesday.

    We will review all feedback and compute a number to be raised as funds for the next 5-10 years. This will be session 2. “How we shall raise this fund.

    A few clear points.
    1. There will be no fees or subscriptions. Membership will continue to be free.
    2. No donations from organisations or non members.
    3. As discussed in succession feedback, the club will remain a social virtual entity.

    Session 2 will be announced in 2 weeks

    Terence Seah

  6. My contribution for the recent zoom meeting :

    Session 1 :
    Q1.What are the big ticket activities or ideas,
    Activities -due to new normal – wait and see ?

    1.Traveling tour – ,
    2.monthly event@kopitiam and
    3.D&D
    Additional :
    4.Plus a small scale like one night in batam (2d1n) or festival night etc
    5.Birthday day month celebration – tea party.

    Q2.you, as a member, expect or hope to see within the next 5-10 years.
    Year 1:
    See more member to come forward to host
    Train and create more EO for leverage activities
    New member from 40 yr old onward
    Year 2:
    – Enhance the several committee into self monitoring skill.
    – Create a SOP procedure for the club to run if any changes need to amend.

    Year 3:
    – Flexibility for new program
    – Renew of committee members
    – Nomination of new members for take over duties

    Year 4:
    – Increase of fund, reduce of operation cost and re funding to provide more features
    – Ready for next stage of Club running format or style.

    Year 5:
    – Finalise and reflect the 4 years club activities
    – Re appoint for committee role and responsibilities

    More Year 10:
    -Self sufficient to run a club with automation on mobile apk
    -Member can independently create activites to cater themselves with much EO support.

    -Replacement of old blood

  7. My session 2 contribution thoughts

    My Funding ideas :
    Should take care of the operation cost/debt first as priority before other tasks for payment :
    1.workpress fee to waive off as operation cost
    2.zoom meeting fee to waive off as operation cost asap

    1.Donation box & paylah apk
    2.Minimum 5k per annual (my estimate for low cost club operation)
    3.selling of shc bages – 34pcs $5 bcz enhance the ideas of the batch…eg wire holder, key chain etc (i will take the first task for funding causes)
    4. Ask for sponsorship from shc member then sell it to gain cash. Eg Member donate token to member as donation project.
    5. Offer from member of club house activities for free. (discuss before)
    6. Facilities swimming, tennis and karaoke for free. (discuss before)

    How to Raise Money for Fundraising Ideas

    1. Start a Crowdfunding Campaign
    raise money with crowdfunding thru paylah/paynow.

    2. Find a Sponsor

    3. Host a Fundraising Event

    4. Exhibition — Show off your skills to a crowd of visitors. Demonstrate what you are doing in training and games. It might even move some to join your team.
    5.Bake sale — Have team members or their family contribute cakes and other baked goods, then sell them piece by piece for a profit.
    6. Car wash — can cooperate with local carwashes and sell tickets to their business. Many will be happy to share the profit.

    7. Fundraising walk — Team members find sponsors who agree to donate a set amount of money for a certain distance they will run. Best if you have active runners among you.

    8.Hi tea Party

    9. Offer Lessons
    to use the skills you are learning anyway by passing them on to others. Teaching is a valid option to get paid and there are always people willing to learn.

  8. Thank you Sally. I finished watching the video late last night. Too late to reply then.

    Howard, I did not hear you when you said, “long time no see” at the beginning. My apology. Sorry because headset was not on. Yes long time no see. Weekdays not free leh. Can only join weekends lah. By the way, noted your “share screen” proposal – only person who did homework before the meeting. Appreciate.
    We could have discussed/debated more on it. Maybe next session.
    Till we meet again, take care.

    DC

  9. Preparing SHC for another 5-10 years.

    SHC started in 2005, and has held on to one objective – to provide a platform for members to meet and find new friends. Sames rules apply.

    Over the years, senior members know we had open opportinities for keen members to take over the leadership for the next 5-10 years. From recent feedback and surveys, two main reasons for not being successful. First, maybe the responsibities are too broad.

    Second, the club is voluntary and has no funds.

    Surveys conducted early this year indicate most members want the club to remain status quo. In other words, we remain a voluntary entity, unregistered but still keep within the laws of Singapore. I support this position too.

    It is important for progress that I take a back step. To spread the work, an admin committee will be formed this year. If you wish to join the Admin committee, start by joining as an activity EO. Spread the msg around. I am always on the lookout.

    Secondly, members will notice I am pushing to have a significant working fund in the Club. We had brainstorm session 1, conducted by John Chua, to find out what new ideas see for the future . Many of the suggestions give us an idea of members exoectations over the next 5-10 years. And with these info, we have an idea what kind of funds we need.

    I too have my ideas on the next 5-10 years. Members have discussed. Live recordings of discussions are available. Some feedback are available on this forum too.

    Potential donors or members wishing to run for Club leadership, plse participate.

    This Sunday 11 Jul, 7pm (1 hr), I shall hold a chat with members. Lets discuss what we want for the future. This is on starting a fund for SHC to tie us over the next 5-10 years . Pls see the videos and surveys first to get a background. Feel free to ask me any questions. I shall answer to the best of my vision.

    Basic guidelines:
    1. SHC shall remain free or subscription free, lifetime as announced in 2005.
    2. We shall remain a voluntary social club.
    3. Any funds donated by members shall be at donors’ discretion, from zero to something.
    4. As to what the funds will be used for, a bit of chicken and egg situation at this stage. We may collect 100 in donations, 50,000 or zero. To last us 5-10 years.
    4. Funds will not be credited into my name. Terms, controls and usage will be set by the SHC Admin committee.

    All members are welcome. To participate, plse ensure you receive a membership verification from 94894360.

    Terence Seah

  10. Can I suggest that we have a membership listing Open to Members? This is one question I heard a few times but no one can answer. This info is helpful if we want to attract corporate interest in SHC.

    • DennisH, In the past, we had wanted to create a membership list with minimal contact details. An objection came up, as members were receiving spams and product sales.

      Sure, llet’s hear ideas.

      Terence Seah

  11. Thanks for the link, Sally. Finished digesting it. Something to say.
    I don’t know whether I should be posting this, in the wake of Terence’s “foot for thought” update in another post. I guess I have to, for Silver Hair sake. Take care Terence. Trust the doctors’ professional advice.

    About the meeting yesterday. Here we go again. It is always fun to have a casual chat after dinner. Every one supports the good intention of a proposal (who wouldn’t when you simply say yes?) But when it comes to the approach and implementation of the “noble task”, it is a different matter. Action not talk only. .
    Where is the money collector? Where is that potential treasurer looking after the kitty?

    Personally, I think we should not be collecting and keeping money if we are not a registered Club or Society.

    Critical path analysis tells us to think of the worst case analysis for any project. Allow me to be the alarmist, the pessimist or kiasooist. When dealing with public money, there are three ways :
    1. Obey all laws and legislation faithfully. No deviation.
    2. Disregard the laws blatantly. We are above any law.
    3. Try to skit on the fringe of the law. When found to have breached any law, rule or regulation, be prepared with good reasons to justify ourselves, and hopefully the authority will be supportive, empathetic and sympathetic after listening to us. After all we are doing it for a “good cause”.

    I guess we are opting the third approach so let us do it. But where is that confident person, otherwise known as the fund-coordinator? Don’t be shy. Stop looking at each other

    DC

  12. In the last 6 months, we had discussed various ideas on how we see in the SHC 5-10 years, the programs and the funds requiredd

    Key programs include:
    1. Membership drive
    2. Anniversary activities
    3. Managing operating costs

    We currently have no funds and organisers lose money organising events. SHC is unable to pay for club expenses, and I should no longer continue paying to club costs, after 15 years.

    As such, we are organising a members donation. We have no history. I am therefore going to start a donation drive, the funds to be managed by the SHC. treasurer.

    In the coming session, we shall

    1. Look for a Treasurer. We shall designated bank account.
    2. The target donation shall be $6000. Members contribute as per their wish. There is no fee or subscription. Members choose to have their name recorded or unrecorded.

    Terence Seah

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