A Charity’s primary objectives should be philanthropy and social well-being. However, administrative nightmares can erode the organisation’s focus on its true mission and aims.
The Commissioner of Charities (COC) has partnered with the Accounting and Corporate Regulatory Authority (ACRA) and the Registry of Societies (ROS) in the interest of lessening the burden of some 2000 registered charities, by establishing a one stop service to file their annual submissions, thereby saving them time and cost.
Annual submissions include the charity’s annual report, financial statements and a governance evaluation checklist. Before this initiative, charities had to file their annual submissions with ACRA and COC or with ROS and COC.
A new data-sharing initiative is also being piloted by COC and National Council of Social Services (NCSS). Through this initiative, charities that are funded by the NCSS through the Community Chest or Tote Board can submit their financial statement to COC via the Charity Portal, and this information will be shared with NCSS.
With these innovations in place and possibly more to come in future, it is certain that charitable organisations can look forward to increased productivity and effective delivery of their services.