Enhancing Transparency: Singapore's IPCs Get New Charity Compliance Indicators

The narrative of philanthropy is woven into the fabric of Singaporean society, underscored by a commitment to accountability and informed donor decisions.

On 16 January 2024, the philanthropic landscape in Singapore took a significant leap forward with the Commissioner of Charities (COC) unveiling the Charity Compliance Indicators for all Institutions of a Public Character (IPCs). This innovative move is designed to shed light on the operational and governance standards of IPCs, enabling donors to make more informed decisions regarding charitable giving.

A Closer Look at the Indicators

The Charity Compliance Indicators serve as a quick reference for donors to gauge an IPC's adherence to regulatory compliance and best practices. These indicators are prominently featured on each IPC's profile on the Charity Portal and include:

• Awards related to Charity Transparency and Governance received in the past three years.

• The Fund-raising Expense Ratio for the most recent financial year.

• Compliance level with the Code of Governance for Charities and IPCs.

• Submission status of regulatory filings for the latest financial year.

These indicators, automatically updated based on an IPC's annual submissions, provide a snapshot of their financial health and governance standards.

This innovative move is designed to shed light on the operational and governance standards of IPCs, enabling donors to make more informed decisions regarding charitable giving.

Feedback and Future Prospects

The development of these indicators has been a collaborative effort, incorporating public feedback on their design from a recent consultation. Depending on their impact and reception, there's potential for expanding this initiative to encompass all charities in Singapore, enhancing transparency across the board.

Additional Information for IPCs

To clarify further, an "Other Information" field allows IPCs to explain any notable data, such as high fund-raising expenses or incomplete regulatory submissions. With a 500-character limit, this optional field can be updated by the IPCs themselves, ensuring that donors receive a comprehensive view of the charity's operations and challenges.

Contact details have been provided for anyone seeking additional information or wishing to address inquiries, encouraging open communication and further engagement on this initiative. Email MCCY_Charities@mccy.gov.sg with the subject: "Query on Charity Compliance Indicators for all IPCs".

This initiative marks a pivotal step towards fostering a more transparent, accountable, and informed charitable sector in Singapore. It not only empowers donors with the knowledge needed to make wise contributions but also encourages IPCs to uphold high standards of governance and transparency.