HKS EDUCATION FUND Limited (HK Tax Reference No.: 91/7828)
The HKS Education Fund Limited (HKSEF) (HK Tax Reference No.: 91/7828) was set up in April 2005 to support the development of human capital under the objectives of promoting moral education for children and creating education opportunities for under-privileged children and young people who are the pillars of our future society.
HKSEF and HKSI as a Social Enterpise
HKSEF's founder donates his shares of Hongkong Sales (Int'l) Ltd (HKSI), a major knit fashion manufacturer to HKSEF. As a result, HKSEF will own 51% of the shares of HKSI and become the majority shareholder of HKSI. Using this ownership arrangement, the founder hopes to create a sustainable capital-social-enterprise operation platform, where HKSEF’s social and education initiatives can be funded perpetually by the profits and dividends generated by HKSI. The fiduciary duties of the Board of Directors of HKSEF are two fold, not only in directing the charitable initiatives of HKSEF, but also in overseeing the management of HKSI to make certain it can provide the funding for the initiatives.
Through this unique ownership arrangement, HKSI becomes a social enterprise as its earnings will directly contribute to funding the charitable initiatives of HKSEF. The Board needs to balance the needs of the charitable initiatives as well as the continuous growth and profitability of the company. The employees feel proud that they are contributing to the society as 51% of the earnings will be used in charitable initiatives. One of the programs at HKSI is the "Young Entrepreneur" program which provides seed capital for start-up companies that pledge to plow back part of its profits to HKSEF.
By creating this platform for sustainable operation, we hope that it shows there is an alternate way to organize private companies which aspire to make charitable contributions back to the society.
HKSEF Support Areas
HKSEF supports two areas:
- Sponsorship of human capital development and moral education for under-privileged children and young people in China including:
a) moral education for children (especially under the age of 12)
b) vocational training for youth (focus on junior high school graduates)
c) education for under-privileged (including education for migrant children)
d) education endownment
- Capital injection to fund young entrepreneurs in their business start-ups, and to utilize this as a platform to further sustain and promote the HKSEF vision to the community at large.
Board of Directors
