Grantmaking philanthropic organisations ("Grantmakers") are typically non-profit entities such as private (family, corporate, etc.) foundations, community foundations and businesses' giving programs, which only give out grant monies to specific charitable causes.

A Grantmaker may register with IRAS under the tax deduction scheme as a qualifying grantmaking philanthropic organisations ("Qualifying Grantmakers").

Tax deduction for donors

Donors who make tax deductible donations* to Qualifying Grantmakers would qualify for 250% tax deduction for donations made from 1 Jan 2016 to 31 Dec 2023.

*Tax deductible donations are cash donations made to Qualifying Grantmakers which are intended for IPCs.

Under this scheme, Qualifying Grantmakers will be allowed to issue tax deduction receipts for tax deductible donations at the point of donation by the donor from the date of successful registration with IRAS.

How to register as a Qualifying Grantmaker

To register as a Qualifying Grantmaker under the tax deduction scheme, the organisation must submit a Letter of Undertaking (PDF, 113KB) to IRAS and fulfil the following conditions: 

  1. Either be a registered charity under the Charities Act or a grantmaker approved under the NPO tax incentive scheme administered by the Singapore Economic Development Board (EDB);
  2. Channel any tax deductible donations intended for IPCs to a segregated account/fund ("designated IPC fund") that is designated for donations to IPCs only;
  3. Be responsible for issuing a tax deduction receipt for a tax deductible donation to the donor, and it must distribute such donations to IPCs within five years of receipt of the donations from the donors;
  4. Be liable to pay to IRAS a financial penalty of the amount ascertained by the formula 0.4x the total value of the donations for:
    1. Any amount of tax deduction that has been incorrectly granted or that is not properly due to a donor; and
    2. Any amount of tax deduction granted on donations that are not disbursed within the five-year timeframe.
  5. Distribute any remaining funds/assets to IPCs within one month upon dissolution of the designated IPC fund;
  6. Put in place proper procedures to ensure that the tax deductible donations are in fact channelled to IPCs;
  7. Keep proper records such as the identity of each donor, date of donation, amount of donation received from each donor and the amount of tax deduction receipts that was issued to each donor for at least seven years;
  8. Submit details of tax deductible donations received and disbursed in the format prescribed by IRAS on an annual basis; and
  9. Subject the designated IPC fund to an annual external audit and submit the annual audited accounts to IRAS within one month of the date of the audit report.

List of Qualifying Grantmakers

 S/NName of Organisation  Effective Date of Registration
1 CapitaLand Hope Foundation 22 May 2008
2 Rose Marie Khoo Foundation 1 Apr 2010
3 Chew Hua Seng Foundation 1 Sep 2010
 Ho Bee Foundation 23 Dec 2010
5 Wing Tai Foundation 23 Dec 2010
6 NTUC Fairprice Foundation Limited 13 Jan 2011
7 The Anglo-Chinese Schools Foundation Limited 29 Apr 2011
8 Keppel Care Foundation Ltd 7 Oct 2011
9 The Silent Foundation Ltd 6 Dec 2011
10 Ong Foundation 4 Sep 2012         
11 S C Wong Foundation Trust 27 Nov 2013              
12 DBS Foundation Limited  13 Apr 2015 
13 Holywell Foundation Limited  16 Jul 2015 
14 AT Capital Charitable Foundation Limited  12 Aug 2015 
15 Lew Foundation 23 Sep 2015 
16 Tan Mok Koon Charity Fund Limited 28 Dec 2015
17 ONERHT Foundation Ltd. 28 Nov 2016
18 Octava Foundation Limited 1 Mar 2017
19 Como Foundation  20 Mar 2017 
20 Lotus Life Foundation Limited  23 Mar 2017 
21 Chow Tai Fook Charity Foundation (Singapore) Limited  7 Sep 2017 
22 Changi Foundation Limited 13 Mar 2019 
23 UBS Optimus Foundation Singapore Ltd.  21 Nov 2019 
24 TL Whang Foundation Limited  12 Dec 2019 
25 Temasek Trust Ltd 1 Apr 2020
26 Soulrich Foundation Ltd 23 Apr 2020
27 The Masonic Charitable Fund 23 Oct 2020
28Singapore Indian Fine Arts Society 15 Dec 2021
29LU Foundation Ltd 26 Jan 2022
30The Moh Family Foundation Limited 21 Feb 2022
31Salleh Marican Foundation Ltd 21 Jul 2022
32Dews of Joy Limited 3 Aug 2022