VCF Shared Services Grant provides co-funding for charities which outsource their payroll, finance and accounting functions to a third-party service provider.
The grant covers shared services in the following areas:
(a) Payroll service
(b) Finance and Accounting services:
Accounts Receivable
Assets Record Management
Journal Adjustment
Financial & Management Reports
Audit Management
Funding Quantum Approved applications are co-funded up to the quantum specified below : Funding Quantum Capped at Finance and Accounting and/ or Payroll Shared Services Up to 25% of Monthly Charge for 2 years $100,000 per charity over 2 years 30% of the approved funding will be disbursed upfront, upon the signing of the VCF funding agreement. The next 30% of the approved funding will be disbursed after the first year of the project. The remaining amount, depending on the actual project cost, will be disbursed upon VCF Secretariat's receipt of the reimbursement claim, supported with certified true copies of the vendor's invoices at the end of two years. VCF Shared Services Grant Applications Charities are eligible to tap on the Shared Services Grant only once from Apr 2017 to Mar 2022. Charities may submit their VCF Shared Services Grant applications online with their preferred vendor's quotation. For project costs exceeding $6,000, charities should attach 3 quotations of comparable scope. Applications for the VCF Shared Services Grant should be submitted to the VCF Secretariat at least 1 month before the service commences to be eligible for the funding. If your organisation does not have a userid and password, please complete the following forms: Online form: e-services Login Request for Organisation; and select "Funding Application" Hardcopy form: Inter-bank GIRO - Direct Credit Authorisation Form submit them via post to the VCF Secretariat Your designated contact person will receive the userid and password from the VCF Secretariat within 10 working days upon receipt of the completed forms
Approved applications are co-funded up to the quantum specified below :
30% of the approved funding will be disbursed upfront, upon the signing of the VCF funding agreement.
The next 30% of the approved funding will be disbursed after the first year of the project.
The remaining amount, depending on the actual project cost, will be disbursed upon VCF Secretariat's receipt of the reimbursement claim, supported with certified true copies of the vendor's invoices at the end of two years.
Charities are eligible to tap on the Shared Services Grant only once from Apr 2017 to Mar 2022. Charities may submit their VCF Shared Services Grant applications online with their preferred vendor's quotation. For project costs exceeding $6,000, charities should attach 3 quotations of comparable scope.
Applications for the VCF Shared Services Grant should be submitted to the VCF Secretariat at least 1 month before the service commences to be eligible for the funding.
If your organisation does not have a userid and password, please complete the following forms:
Your designated contact person will receive the userid and password from the VCF Secretariat within 10 working days upon receipt of the completed forms