Annual Report
03
2019 at a glance
04 05
Our Milestones
09
Our Solution
10
14
Australia
06
Letter from Our Co-founders
Hong Kong
11
15
United States
19
Charities Testimonials
20 21
27
Incentive Partner One Ten Foundation
28
Annual Report 2019
02
07
Letter from Our Board Chair
08
The Problem
Time of Our Lives
12
Singapore
13
Kuala Lumpur
16
About Our Community
17
Mentors Testimonials
18
Participants Testimonials
Media Coverage
22 23
Our Financials
24 25
Our Team
26
Impact Supporter K11 ATELIER
Support Us
29 30
Thank You
31
2019 Featured Guests
experiences redeemed
9,855
We’re in 7 cities! San Francisco Los Angeles
Hong Kong Kuala Lumpur Singapore Sydney Melbourne
hours raised in Hong Kong
890 721 685 326 215 89 hours raised in Kuala Lumpur
hours raised in Singapore
hours raised in Sydney
hours raised in San Francisco
hours raised in Melbourne
hours raised in Los Angeles
Annual Report 2019
03
Our Milestones
68,880 volunteer hours contributed to date
Time Auction Hong Kong started as a side project. 865 volunteer hours raised from 28 events Time Auction Canada founded by David Wen. 4,000 volunteer hours raised from15 events in Canada* *Time Auction Canada operated as a social enterprise where participants log their volunteer hours to enter a draw to win rewards. Annual Report 2019
04
1,494 volunteer hours raised from 25 events in Hong Kong 26,000 volunteer hours raised from 84 events in Canada
3,982 volunteer hours raised from 19 events in Hong Kong
8,430 volunteer hours raised from 66 events and 32 workouts Registered as a charity in Hong Kong under the Inland Revenue Department (#91/15276) Time Auction Board established
11,272 volunteer hours raised from 71 events and 207 workouts Started international expansion, launched in 3 new cities:Singapore, Sydney, and Los Angeles
12,781 volunteer hours raised from 88 events, 181 workouts and Time of Our Lives Launched in 3 new cities: Kuala Lumpur, Melbourne, and San Francisco Organized Time of Our Lives, our inaugural community and fundraising event
Onboarded 2 full-time sta
Annual Report 2019
05
Letter from our Co-founders Hey everyone, We've come a long way since starting Time Auction as a side project. When we first started sending those few cold emails just 5 years ago, we had no idea that this would grow into a charity operating in 7 cities, encouraging thousands of individuals to volunteer and get a chance to learn. Since 2014, we’ve seen over 6,630 event participants volunteer over 68,880 hours to charities around the world, and redeem 817 experiences on our platform, from workouts to mentorship events. In 2019 alone, our community volunteered a record-breaking 12,781 hours, and we launched in 3 new cities! One of the key highlights is our inaugural event sponsored by IWC Schaffhausen, Time of Our Lives, where 1,566 volunteer hours were contributed for an opportunity to learn from 20 featured guests over lunch and an afterparty. “A conversation with a wise man outweighs 10 studious years”. While our participants may come from a wide range of backgrounds, the topics discussed are universal to all of us — life philosophy, failures, relationships, and many important topics that one feels most comfortable sharing in a private setting. As you’ll see in this report, 68% of our attendees come to our events for life advice and 87% have learned new things that they’d now think of or do differently. Volunteering is real-world education. From beach clean-ups to caring for the homeless, we see and experience social issues first-hand. 92% of our attendees said they gained a better understanding of social issues through volunteering, with more than half said they’d continue contributing to the cause. Thank you to everyone who have supported us, whether its time, effort or resources — as we push forward to reach and impact many more young adults on their philanthropic journey in the years to come. If this is what we’ve already accomplished in just 5 years, we’re excited to see what the next 5 years has in store for us with your support!
Fion Leung & Suetyi Wong Annual Report 2019
06
Letter from our Board Chair Dear Friends, Partners and Members of the Time Auction community, Growing up, I’ve been blessed to be born into a family of entrepreneurs where naturally, I was surrounded by “uncles” who were successful businessmen and qualified professionals. Conversations at the dinner table, bedtime stories, and even weekend activities occasionally had some mix of business or current events which gave me the knowledge and position to eventually become an entrepreneur as an adult. In the last 15 years, I’ve built or invested in 10+ startups, where I’m lucky to have found some success and learned quite a bit along the way. But the truth is, financial education and mentorship is a thing of a closed circle, where some of the less fortunate are left behind, further increasing inequality and the wealth gap for future generations. This plagues our society with negativity, bad morale and a sense of despair. But before the next generation should lose hope, the good news is that we live in a world of sharing economies and technology, where the team at Time Auction is devoted to using it to enable the most successful people in the world to share knowledge and experience through mentorship — for anyone to earn by doing good deeds. To date, the Time Auction community has volunteered over 68,800 hours. That’s 23.6 years worth of working days contributed to clean up beaches, visit elderly, care for the homeless and a long tail of causes supported. I’m personally committed to use my experience and skills to scale Time Auction just like any startup that I’ve built. We’re here to make fulfilling dreams possible for willing and capable young adults while improving the conditions of the world we all share. Here, I invite you all to look at 2019’s Annual Report to witness what we have achieved and to join me on this movement to make our city a more innovative, positive and empathetic place through mentorship and volunteerism.
Aaron Lee Annual Report 2019
07
The Problem
6 out of 10
young people are pessimistic about Hong Kong’s future
of Hong Kong’s population volunteered in the past year, lagging behind developed countries such as :
58%
think the city would be worse by 2030
71%
are willing to help make it a better place
Source: South China Morning Post, October 2016
Annual Report 2019
08
58% in the UK
46% in Canada
26% in Japan
Source: Volunteering in Hong Kong Survey Research, Centre for Civil Society and Governance, The University of Hong Kong and Policy 21 Limited, May 2010
Our Solution Time Auction is a charity that connects anyone with inspiring mentors while encouraging volunteerism. By volunteering to charity, one can earn unique access to their passions — from learning to cook from Michelin-starred chefs to dining with inspiring entrepreneurs. Through our platform, quality leaders are connected with young adults to give personal, executable advice that puts them on a positive path for future success, while channeling more volunteers to support charities.
Our Vision We envision a world where everyone has an equal opportunity to learn from their role models, and integrate volunteering as part of their lifestyle.
Mentor 2 hours
Volunteers 10 hours each
90 hours received by charities Annual Report 2019
09
Hong Kong
9,855 volunteer hours contributed
58 181
Events
1
Workouts
Time of Our Lives
Annual Report 2019
10
Time Time of of Our Our Lives Lives
1,566 volunteer hours contributed
20
Featured Guests
Time of Our Lives is our fifth anniversary celebration and also our first time to bring our community and mentors together for a day of interactive learning. Paying it forward with IWC Schaffhausen, 90 participants each volunteered 15 hours at charities to attend lunch and an afterparty with 20 featured guests. Together, 1,566 volunteer hours were contributed to the community.
Annual Report 2019
11
Singapore
volunteer hours contributed
11
Events
Annual Report 2019
12
Kuala Lumpur
890
volunteer hours contributed
9
Events
Annual Report 2019
13
Sydney
Melbourne
volunteer hours contributed
4
volunteer hours contributed
2
Events
Annual Report 2019
215
14
Events
San Francisco
Los Angeles
326
89
3
1
volunteer hours contributed
Events
volunteer hours contributed
Event
Annual Report 2019
15
About Our Community
68%
43% Students
come for life advice
57%
42% 39% 76% come for subject matter expertise
come for career advice
87%
learned new perspectives they’d apply in their lives
Annual Report 2019 16
Working Professionals
come to meet interesting people
50%
are incentivised by Time Auction to volunteer
92%
gained a better understanding of social issues from volunteering
Mentors Testimonials
“If you’ve not heard of Time Auction — it’s time. This is the mentorship program that keeps on giving. [...] You “pay” with the hours you’ve donated to causes as a volunteer. We are all paying it forward together … I remain humbly a Time Auction supporter, mentor and advisor. These volunteers inspired me this weekend.” Angie Lau Former Anchor at Bloomberg Television
“I really enjoyed the discussion with these bright, young sparks, learnt so much from them Mentoring in reverse. Thanks Time Auction for inviting me to contribute my time - and yes, ‘giving time is the sincerest form of generosity’. I do look forward to staying in touch with this outstanding group of young talents and hope you have enjoyed the evening as much as I did.” Helene Li Managing Director of BNP Paribas Wealth Management
“I love Time Auction. It’s fantastic!” Jim Thompson Founder of Crown Worldwide Group
Annual Report 2019 17
Participants Testimonials “Today, I got a chance to sit beside Angie Lau at the Time Auction lunch. [...] what she is really showing us, is who she is. She does not strive to be a “strong woman leader”. She is just she - a person of empathy and compassion. She is expressing the truest form of herself. She leads by example. And this is beautiful. Thank you so much for your words. And thank you Time Auction Team for making this event possible.”
“Finally processing through the inspirational Time Auction conversation with Anson Chan last Friday. She is an amazing woman - who shared with us the most important characteristics of being a true leader: Integrity, honesty, vision, humility and compassion. [...] Thank you Time Auction for granting us mentees this valuable experience.” Esther Lau
Jewel Ho
“Volunteer work helps me see multiple facets of society, meet different people and experience different ways of life.Through my volunteering experiences, I witnessed the many struggles faced by the poor, the elderly and the ill and how they coped with the many hardships in life.”
“Volunteering is a huge contrast to my banking job, where I was facing computers and speaking to people for work. Like most people in Hong Kong, I used to think that earning money and owning property came first. After volunteering, money and status seem less important.”
Kenneth Lui
Anne Wong
Annual Report 2019 18
Charities Testimonials "It has been the greatest pleasure to collaborate with Time Auction. [...]The really useful deliverables produced by volunteers from Time Auction, have supported charities and social enterprises as these organisations seek to create positive social change that benefits all of us in the community."
“The volunteers we recruited were passionate about the causes and joined us in pre-meetings before the event. They were attentive and enthusiastic during the Festival which makes our event a huge success.”
“The opportunity to meet with and learn from leading figures from various industries is a priceless experience that inspires and motivates our volunteers. Huge thanks to Time Auction for playing a part in encouraging the ethos of volunteering in our community.”
“Time Auction uniquely rewards them for their efforts and our ImpactHK volunteers have raised 310 volunteer hours this past year! We appreciate our collaboration with T.A. And look forward to raising many more hours next year. #kindnessmatters”
“Time Auction and Social Career both share a similar goal; to encourage volunteerism for social causes you may be truly passionate about. [...] We love that Time Auction allows like-minded individuals, who love to give back to their community regardless of education or social background, to connect and learn from each other."
Annual Report 2019 19
Media Coverage
Hong Kong charity Time Auction’s unique model to inspire young “Volunteering is important because that’s how you experience social issues first-hand”…
Annual Report 2019 20
Other coverage from
and more!
Annual Report 2019 21
Financial Statement 2019 Statement of income and expenditure for the period from 1 January to 31 December 2019
Income Corporate sponsorship Donations Events
HK$ 133,000 392,403 161,203
Total Income
686,606
Note: This ďŹ nancial report is unaudited.
Annual Report 2019 22
Expenditure
HK$
Administration Expenditure Accounting & audit fees Bank interests & charges Entertainment Travelling expenses MPF contribution Subscription, telephone & internet Insurance Sta welfare Total Administration Expenditure
20,800 772 4,090 192 52,728 24,744 6,002 6,000 115,328
Program Expenditure Salary Printing, stationery & postage Event expenses Advertising & marketing expenses Total Program Expenditure
575,595 4,804 81,657 79,090 741,146
Total Expenditure
856,474
Financial Overview 2019
Total Income
Total Expenditure
HK$686,606
HK$856,474
Income
19%
Expenditure
57%
24%
13%
87%
Income from Corporate Sponsorship
Income from Donations
Income from Events
Expenditure on Administration
Expenditure on Program
HK$133,000
HK$392,403
HK$161,203
HK$115,328
HK$741,146 Annual Report 2019 23
Annual Report 2019 24
Fion Leung Co-founder & CEO
Suetyi Wong Co-founder & Board Director
Aaron Lee Board Director
Former Growth Lead at Notey and Analyst at Barclays
Technical Recruitment at Terminal 1 and Co-founder of Mindful Movement
Forbes 30 Under 30. Serial Entrepreneur and Founder of Dash Living
Ivy Wong Program Manager
Sandra Leung Board Director
William Du Pro-bono Partnership Director
Animal lover and Founding Member of Paws United Charity
COO & Co-head of Strategic Projects Execution, Market Development at HKEX
Portfolio Manager at Swire Properties. Outgoing Curator, WEF Global Shapers HK
Singapore
Athena Choo
Ray Aun
Jeanette Wong
Siow Huin Ling
Pearlyn Lim
Elaine Cheong
Yee Ling Tang
Yee Shin Chia
Jech Chua
Nicholas Koh
Jennifer Lo
Chui Chin Yee
Anthea Sou
Kuala Lumpur
Wendy Liang
Melbourne
Sydney
Cecily Zhu
Kimberley Liu
Madeleine Dunn
Lana Ryan
San Francisco
Los Angeles
Yuiko Majima
Raphaela Scheidl
Joshua Lam
Arthur Lam
Andrew Chen
Emily Li
Annual Report 2019 25
Impact Supporter — K11 ATELIER K11 ATELIER came onboard as our Impact Supporter since July 2019. They regularly sponsor the venue, food and drinks for our events, as well as promote our experiences through their K11 ATELIER Academy to encourage their community and followers to volunteer and join our inspiring learning experiences. 1,089 volunteer hours were raised through our events featuring Alex Fong (Singer, Actor & Swimmer), Ben Sir & Jason Chan (Doctors of Reasoning and Ideas) , So Man Fung (Feng Shui Master), Kevin Ching (CEO of Sotheby’s Asia) and Anthony Wong (Award-Winning Actor).
Annual Report 2019 26
Incentive Partner — One Ten Foundation From June 2017 to September 2019, we partnered with One Ten Foundation where young adults aged 14 to 22 can volunteer 3 hours to redeem a ďŹ tness class, including yoga, spinning, and high-intensity interval training (HIIT). During our partnership, 480 One Ten classes have collected a total of 6,051 volunteer hours to a long tail of charities and NGOs. Through the students' volunteer journey from helping ethnic minority children with school work to delivering soup for the elderly, they have gained and learned a lot from helping charities at the front-line, in addition to the empowering workouts they have done!
Annual Report 2019 27
We’re proud of the changes that our participants made in life after volunteering and joining our events — from becoming regular volunteers for the causes they care about, to setting up their own businesses to pursue their dreams. We hope you’ll join us on this movement!
Donation
Donor Seat
Online Donation
2 Donor Seats are available for each event in Hong Kong which you can make a tax- deductible donation of HK$2,000 to join.
Scan the QR code or visit donate.timeauction.org
Support our work as a Donor and enjoy our events! Scan the QR code or visit donate2timeauction.org Bank Transfer You can make your donation to our bank account below. Account name: Time Auction Limited Account number: 848-873303-838 Bank: The Hong Kong and Shanghai Banking Corporation Cheque You can send us a cheque made payable to “Time Auction Limited” to 13/F, Causeway Bay Commercial Building, 1 – 5 Sugar Street, Causeway Bay, Hong Kong. Please provide your full name and email / mailing address. Donation receipt will be provided upon payment confirmation.
Annual Report 2019 28
Corporate Sponsorship Support our work by sponsoring our events and hosting it at your office or venue spaces. It’s also an opportunity to encourage your staff, clients and partners to volunteer and join. Email team@timeauction.org for details.
Our heartfelt gratitude to everyone who supported us. Your generosity has fueled our movement, to inspire many young adults through volunteering and mentorship.
Board of Directors
Corporate Donors
F&B Sponsor
Aaron Lee Sandra Leung Suetyi Wong
Advisors
Photography Sponsor
Angie Lau, former Anchor at Bloomberg Television Ming Wai Lau, former Chairman of Commission on Youth
PR Partners
Jim Thompson, Founder of Crown Worldwide Group Stephen Wong, Co-founder of Dory Technology Annual Report 2019 29
Promotional Promotional Partners Partners
Venue Sponsors
Interns
AFS Intercultural Exchanges
avalzo
Kiki Cheung
Kelvin Kong
AIESEC
Bloom
Dazi Cremonita
Felix Kwan
Asian Charity Services
Garden Meow
Teresa Chung
Alison Kwong
Boundless
GLOs Clubs
Annie Lui
Garrick Lau
City University of Hong Kong
R One Space
Jessica Yau
Eric Lee
DreamStarter
The Hive Wanchai
Terence Yeung
Giselle Lee
English Schools Foundation (ESF)
The Hive on Sevens
Eureka
The Hive Studios
Volunteers
Daniel Leung
HandsOn Hong Kong
WeWork
Joaquin Del Castillo
Vivek Mahbubani
HK Ploggers
Arnold Chan
Law Wing Chung
Hong Kong Arts Administrators Association
Cindy Chan
Cyan Lo
Dolphin Chan
Lorraine Ng
Hong Kong Baptist University
Emily Chan
Beverly Ngai
Hong Kong Polytechnic University
Jodie Chan
Marcuz Poon
InspiringHK Foundation
Victoria Chan
Nancy Poon
Junior Achievement Hong Kong
Isaac Chang
Sham Chi Wing
KPMG
IX Cheng
Sinna Suen
LocalMotion
Kiki Cheung
Aileen Tam
Social Career
Jackson Cheung
Efran Tan
Teach for Hong Kong
Samantha Cheung
Iris Wan
Techstars
Ivy Fung
Edward Wong
The Chinese University of Hong Kong
Fleur Hui
Yan Jing Tian
The Hong Kong University of Technology and Science
Steve Hung
Abby Yau
Gloria Ip
Ping Yim
The Open University of Hong Kong The University of Hong Kong
Annual Report 2019 30
Cody Leung
John Yip
2019 Featured Guests Kuala Lumpur Dato' Fadza Anuar, Co-founder of FashionValet Datuk Nicol David, Eight-Time World Squash Champion Freda Liu, Journalist, Author, Speaker & Emcee Albern Murty, CEO of Digi Telecommunications Sdn Bhd Sridharan Nair, Managing Partner of PwC Malaysia Azran Osman-Rani, Founder of Naluri Timothy Tiah & Audrey Ooi, Co-Founders of Colony Coworking Space Derek Toh, Founder of WOBB Marc Woo, Country Head of Google Malaysia Los Angeles Rosie O’Neill, Co-Founder and Co-CEO of Sugarfina Melbourne Gareth Evans, CEO of Jetstar Group Horst von Sanden, CEO of Mercedes-Benz Australia/Pacific San Francisco Noah Alper, Founder of Noah's Bagels and Bread & Circus Tracy Fong, Managing Director at SVB Capital Patrick Lee, Co-founder of Rotten Tomatoes Paul Yeh, Managing Partner, Conductive Ventures Singapore Dr Taimur Baig, Managing Director & Chief Economist, DBS Group Research Claire Chiang, Co-founder of Banyan Tree Hotel & Resorts Michele Ferrario, Co-Founder and CEO of StashAway Grace Fu, Minister for Culture, Community and Youth, Republic of Singapore Simone Heng, Broadcaster, Emcee and Keynote Speaker Robin Hu, Head of Sustainability & Stewardship Group at Temasek Chris Hwang, Co-Founder of The Golden Duck Simon Kahn, Chief Marketing Officer, Google APAC Violet Lim, CEO & Co-founder of Lunch Actually Group Keyis Ng, Co-founder & CEO of Cafebond.com Jim Rowan, CEO of Dyson Jonathan Shen, Co-Founder of The Golden Duck Sydney Mike Baard, Managing Director of Universal Pictures International Australasia Layne Beachley, Seven-time Surfing World Champion Lisa George, Global Head of the Macquarie Group Foundation Melanie Silva, Managing Director of Google Australia and New Zealand
Annual Report 2019 31
“Since 2014, over 68,800 volunteer hours were contributed by the Time Auction community around the world.�
www.timeauction.org
Time Auction
Annual Report designed by volunteer designer Abby Yau