One-stop filing service to help charities save on costs
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Rahimah Rashith
About 2,000 registered charities will need to file their annual submissions only once, saving them administrative costs.
The Commissioner of Charities (COC) has partnered the Accounting and Corporate Regulatory Authority (Acra) and the Registry of Societies (ROS) to establish this one-stop service.
Culture, Community And Youth Minister Grace Fu said this will help reduce compliance costs and the administrative burden on charities, especially smaller ones. She announced the new service at the Charity Governance Conference at Furama RiverFront Hotel yesterday.
Annual submissions comprise the charity's annual report, financial statements and a governance evaluation checklist.
Previously, depending on their legal structure, charities had to file their annual submissions with Acra and the COC, or with the ROS and COC.
During the conference, Ms Fu also shared that the COC is piloting a data-sharing initiative with the National Council of Social Service (NCSS).
The pilot, which started in January, allows charities funded by NCSS through the Community Chest or Tote Board to submit their financial and programme statements to the COC via the Charity Portal, which will share the information with NCSS.
Previously, such charities had to submit their statements to both NCSS and the COC.
The COC and NCSS will get feedback from the charities in the pilot study before expanding the initiative to the rest of the charity sector.
With the changes, COC said the reporting process is more streamlined. Charities can then better focus their time and resources on helping their beneficiaries, COC added.
Speaking to charity-sector professionals at the conference, Ms Fu added: "The Government will work alongside you to strengthen your governance capabilities, expand your roles and facilitate the formation of lasting and impactful partnerships."
Sree Narayana Mission (Singapore) chief executive S. Devendran added that the initiatives help reduce the administrative load of charities, especially those with limited manpower. "These are social innovations which help charities to become more productive," he said.