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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

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Time Auction 2019 Annual Report  

In 2019, the Time Auction community has volunteered a record-high 12,781 volunteer hours and learned from 107 inspiring leaders in 7 cities!...

Time Auction 2019 Annual Report  

In 2019, the Time Auction community has volunteered a record-high 12,781 volunteer hours and learned from 107 inspiring leaders in 7 cities!...

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