We thank Mr Tan Chin Hwee for his feedback (Convene committee to help small charities manage their donations, April 24).
We recognise charities, especially small ones, face various governance and sustainability challenges. Hence, we have been working with various organisations to set up shared services for charities.
These shared services aim to provide assistance in a range of areas, including electronic regulatory submissions, governance-related matters, talent management and technology solutions.
We are in the midst of expanding the number of shared services partners to help small charities.
The Code of Governance for Charities and Institutions of a Public Character (IPCs) recommends that a charity should invest its funds only in accordance with an investment policy approved by the board.
If the charity board does not have the expertise in investment management, it should obtain professional advice.
As charities of different income sizes and sectors face different considerations, each charity's funding needs and risk appetite differs. Thus, having an investment policy catered to each charity's specific needs would be more prudent.
There are a variety of resources and funds to support our charities.
For assistance in developing policies and internal controls, charities can tap the VWOs-Charities Capability Fund. Guidelines and handbooks on donations, reserves and investment management are also available on the Charity Portal (www.charities.gov.sg) and Charity Council's website (www.charitycouncil.org.sg).
It takes multiple players to work together and improve the social service ecosystem, and we welcome the contributions of all Singaporeans.
Ang Hak Seng (Dr)
Commissioner of Charities