Established in 1999



 

Home

Public Others Government Business Arts Community
Entertainment Lifestyle Services People Travel Internet Stuff

 

 

     FrontPage Edition: Fri 23 Dec 2005

Key data of 100 Singapore charities to be listed on MOH Website

 

Source: www.moh.gov.sg

Good Governance for MOH IPCs

 
The KPMG's report on the National Kidney Foundation (NKF) suggests that there is room for regulators to tighten their supervision over the charities.
MOH is reviewing our current regulatory regime over its Institute of Public Charters (IPCs). At present, MOH has 100 such IPCs, of various sizes.
While the Inter-Ministerial Committee proceeds with its review, as a first step, the Ministry has embarked on the following:
  1. First, MOH will publish a full list of the 100 IPCs on its website, and will shortly include their most recent key data such as annual income, annual expenditure, size of reserves;
  2. Second, MOH will develop tiered regulatory policies according to the size of the IPCs' annual income. The number of IPCs under the four income categories is as follows:
    • Above $10 million:              6
    • Between $5-$10 million:     8
    • Between $1-$5 million:     26
    • Below $1 million:               60

    Annex A lists the 14 MOH IPCs with annual income exceeding $5 million.

  3. Third, we have once again reminded the Boards of all the 100 IPCs of their duties and responsibilities as Board Directors. A copy of our circular issued today is enclosed at Annex B. 
  4. Fourth, we will in due course appoint a public accounting firm to assess the level of corporate governance of our 14 largest IPCs.
  5. Fifth, we are encouraging our 14 largest IPCs to disclose to MOH:
    • The annual compensation received by their key officers; and
    • Their contracts above $1 million which any of their Board Directors and key officials have a stake in.
MOH appreciates the large number of volunteers who have sacrificed much of their time and resources to help in the charities sector, benefiting large numbers of the more needy in Singapore. Many are selflessly contributing.
MOH will continue to regulate our IPCs with a light touch, while striking a balance to ensure better governance, in particular for our larger IPCs.
More.....
Annex A: Voluntary Welfare Organisations (VWOs) and Charities Under MOH's Purview - Organisations with Annual Income Exceeding $5 million
Annex B: Responsibilities and Duties of Board Directors

Source: www.moh.gov.sg Press Release 23 Dec 2005

Important Notice

Our FrontPage Editions are a historical record of our Web site and reflect the changing of the times, and also of our Web site through time. We do not and will not update the links and stories on these FrontPages even if they have become obsolete.

 

If you have an event or some news to share with our readers, send the details, including picture(s), to us at editor@getforme.com 

We are now 9351 pages thick and growing.

Public Holidays CHRISTMAS DAY is the next public holiday. It falls on 25 December 2005.