Singapore

NPO practice

Not-for-profits, Charities and Institutions of a Public Character ("NPOs") face their own unique management difficulties. While many excel in their primary roles and activities, they often struggle to keep abreast of relevant rules and regulations applicable to Charities and Institutions of a Public Character (IPCs) due to limited resources dedicated to these necessary functions.

Following the wake of recent events that drew public attention to mismanagement issues and lack of governance in charities and religious organisations, NPOs are now under greater scrutiny with the implementation of tighter regulatory requirements and increased transparency demands.

Dealing with Unique Challenges

Charged with juggling these new responsibilities, NPOs are forced to operate in a leaner manner and find more efficient ways to deploy manpower. This has resulted in a sharp rise in demand for experienced partners to alleviate strain and keep operations running smoothly. 

FIND OUT HOW WE CAN HELP

Timely financial reporting for VWOs — a case study

A voluntary welfare organisation (VWO) that provides residential care, eldercare and medical services faced a huge challenge in meeting financial reporting requirements.

Building an effective charity board

While ensuring compliance with the Code of Governance for Charities and IPCs without losing focus on operations remains a challenge, there are ways to build an effective charity board.

GST pain points for NPOs (Not-for-profits/Charities/Institutions of a Public Character)

Since NPOs generally receive a combination of direct donations, grants, sponsorships and miscellaneous nominal income from their heavily funded activities, it can be difficult to track and many of them may not be aware that they need to register for GST.

Code of Governance for charities and institutions of a public character (2017 refinements)

The Code of Governance for Charities and IPCs was refined in 2017. All charities are encouraged to take necessary actions to improve their governance.

Addressing adoption concerns over Charities Accounting Standard

Despite having a simpler financial reporting framework that is tailored to the needs of charities, the Charities Accounting Standard (CAS) is yet to be widely adopted by such organisations.

How should non-profit organisations (NPOs) take the right risks?

In an increasingly vulnerable economic and social landscape, NPOs are now playing an even greater role in plugging social gaps, addressing social ills and meeting the needs of the under-served customer segments. Because of the trust that is placed on NPOs, their Boards are expected to govern effectively and maintain credibility.