INCORPORATION OF THE COURAGE FUND LTD AS A COMPANY ENTITY LIMITED BY GUARANTEE
The Courage Fund, formerly a Charitable Trust has been incorporated as a Company Entity Limited by Guarantee (“CLG”).
The conversion to a CLG is to provide greater transparency, accountability and sustainability of the Fund.
The Courage Fund Limited (“TCFL”) entity continues to hold its Charity Status.
As a CLG, the Fund is an independent legal entity existing in its own right, separate and distinct from its members.
Members’ liabilities are limited. CLGs are registered with the Accounting and Corporate Regulatory Authority (“ACRA”),
and governed by the Singapore Companies Act (Cap.50). TCFL will be required to hold Annual General Meetings and file
audited accounts with ACRA annually.
The Courage Fund was established in April 2003 when Singapore was hit by the SARS outbreak.
Fellow Singaporeans donated generously following the outbreak to help the victims of SARS and
show appreciation for the courage and dedication of our healthcare professionals who put their
lives on the line to care for the SARS victims. The Fund was supported by the Singapore Government
with matching grants. Donations for the Fund totalled $32.088 million, with $15.544 million coming from the public.
A Board of Trustees was set up to ensure that the donations were used in accordance with the intentions of the donors to the Fund.
Founding members of the Trust include National Healthcare Group, Singapore Health Services, Singapore Medical Association,
Singapore Nurses Association and Singapore Press Holdings.
In the last twelve (12) years, The Courage Fund has been providing education grants to children of the deceased SARS victims,
as well as bursary awards for nurses and allied healthcare professionals. In additional, the Fund has also established the annual
Healthcare Humanity Awards, which serves to recognize and honour healthcare professionals who have gone beyond their call of duty.
In 2013, an application was put up to transition The Courage Fund from a Charitable Trust to a Company entity Limited by Guarantee (“CLG”).
The Courage Fund Ltd (“TCFL”) was incorporated on 25 November 2013. Institutional Members were informed of the incorporation and provided
notice of its first (1st) Extraordinary General Meeting which was held on 15 July 2014. Charity Status application for TCFL was approved
by the Ministry of Health on 30 Oct 2014.
All funds have been completely transferred to TCFL as of 23 Dec 2014. Balance of funds in TCFL stands at $14,230,497 as of 31 Dec 2014.