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Additional Requirements for IPCs and Large Charities/IPCs

Additional Requirements for IPC and Large Charities/​IPCs

As your charity grows, you will need to take note of the additional requirements and obligations of IPCs and large charities/IPCs.

A large charity/IPC refers to one with gross annual receipts of not less than $10 million in each of the last 2 financial years immediately preceding the current financial year. Such an institution will have to comply with additional rules relating to governing board members and auditors.

The additional rules include:

  • Having at least 10 governing board members;
  • Financial statements to be audited by auditors approved by the COC or your Sector Administrator (SA); and
  • Auditor to be changed at least once every 5 years, with COC/SA’s approval. The application for approval can be submitted online via the Charity Portal.

The last 2 requirements are applicable to all IPCs, regardless of their financial size.​