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CFL FAQ

Frequently Asked Questions Concerning the DSOBA Charitable Foundation Limited


Q: Can you tell me more about the designated funds and scholarships administered and managed by the DSOBA Charitable Foundation Limited (‘CFL’)?
A: Certainly, the CFL is responsible for the administration and management of the following funds and scholarships with different objectives:-

The S.J. Lowcock Foundation Scholarship
- To provide financial assistance to economically disadvantaged students of DBS to enable them to continue with their tertiary education either locally or overseas.

The Jacland Lai Foundation Scholarship

- To provide financial assistance to musically gifted students or old boys of DBS to enable them to advance their achievement in the area of music.
The George She Foundation Fund
- To provide financial assistance to students of DBS in need of funds to pursue their interest or advance their performance in extracurricular activities, in particular in the areas of sports and music.

The Terence Chang Award
- For deserving current DBS boys who have shown outstanding achievement in their lower grades (G8 – 9) and upper grades (G11 – 12).

The P.S. Cassidy Scholarship ($4,500)
- For the best boy in English and History in Grade 11 or Grade 12.

The G.A. Goodban Scholarship for Music ($500)
- For the best performance and attendance at orchestral practice.

Care Fund for Former DBS Teachers
- For financial assistance to former DBS teachers in need.

Q: Who are the people looking after the CFL?
A: CFL is a company limited by guarantee with tax exemption status. CFL was initiated by DSOBA for aiding needy students. A separate vehicle operating effectively as a trust, the current 'trustees' are all old boys: Aarif Barma’76 (High Court Judge), Daniel Fung SC ‘70, Jat Sew Tong SC ‘82, Patrick Sun ‘76, Edmund Chan ‘76, Desmond Yip ‘82, Selwyn Chan ‘77 and DSOBA ex-officios Jerry Chang ‘80, Horace Chan ‘64, and William Lo ’83.

Q: Does the CFL also provide scholarship for underprivileged students to continue their education in DBS as opposed to just education beyond DBS?
A: Times have changed my dear old boy, under the DSS, DBS has to have a fee remission scheme for all needy students such that no student will be turned away because of his financial status. As such, there is no need to set up for these students with respect to fees, lunches, text books, transport etc. However, there are other needs e.g. sporting equipment, musical instruments, traveling to overseas competition etc. whereby the other CFL foundations i.e. She, Lai and Chang would step in to help.

Q: What is the size of the funds managed by the CFL currently?
A: In May 2013, CFL has around HK$24 million under its management with approximately HK$5 million designated to the S.J. Lowcock Foundation.

Q: What scholarships did CFL grant in 2012 and what are the amounts?
A: In 2012, CFL granted the Lowcock Foundation Scholarship to one student attending Cambridge University (HK$100,000), the Lai Foundation Scholarship to one student attending King’s College London (HK$50,000), the She Foundation Fund Award to one student going to NYU (HK$10,000), and the Chang Award to 3 students going to Cambridge (HK$60,000), Cornell (HK$10,000) and Princeton ($10,000) respectively.

Q: How do I make a donation to the CFL?
A: Please send cheque made payable to “DSOBA Charitable Foundation Limited” and designate it to whichever foundation if you so wish at the back of the cheque to DSOBA c/o DBS, 131 Argyle Street, Mongkok.

Q: Is my donation tax deductible and confidential?
A: All donations to CFL are tax deductible in Hong Kong and made on a confidential basis.

 

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