The Food Bank Singapore has received approval as an Institution of a Public Character (IPC) by the Singapore Government’s Charities Unit.
IPCs are charities whose activities are beneficial to the community in Singapore as a whole, and not confined to sectional interests or group of persons based on race, creed, belief or religion. They must be administered by governing board members, at least half of whom are independent and citizens of Singapore.
With the IPC status, The Food Bank Singapore is able to issue tax deductible receipts for qualifying donations to donors. Donors can claim tax relief from their assessable income based on the amount donated at prevailing deduction rate.
“We are happy to be able to reciprocate the generosity of the donors by allowing them to enjoy the 300 percent tax rebate. This status means a lot to us to be able to do something for those who support us. Ultimately, we hope that this status will help us to bring in more donations to support our mission to feed the hungry,” said Nichol Ng, Co-founder of The Food Bank Singapore.