Donations to Singapore charities hit 10-year high

SINGAPORE: Corporations and members of the public contributed more to charity last year.

This is according to the annual report of the Commissioner of Charities (COC) for the year ended 31 December 2011.

The total value of tax deductible donations received in 2011 in aid of local charitable causes was S$896 million, the highest in the last 10 years.

That's an increase of 15 per cent compared to 2010 when S$776 million was received.

Corporate donations rose 19 per cent while donations from individuals went up by 9 per cent.

Last year, the Charity Council released the refined Code of Governance for charities and Institutions of a Public Character (IPCs) following extensive consultation with various stakeholders. The refined code is more flexible, clearer and relevant for charities.

The Accounting Standards Council and the COC office also jointly issued the Charities Accounting Standard (CAS) in June 2011. This standard makes financial reporting simpler and more relevant for charities while enhancing disclosures for greater transparency.

The COC office says it will continue in its efforts to improve governance in the charity sector, to engage with charities and IPCs and to enhance public access to information via the Charity Portal (http://www.charities.gov.sg).