The Board emphasises the importance of preserving the integrity and transparency of VCS in its fund-raising activities. All Board members involved in fund-raising should be familiar with the requirements in the Charities (Fund-Raising Appeals for Local and Foreign Charitable Purposes) Regulations 2012 or any other regulations.
The Board oversees and ensures accountability to donors and that funds are used in accordance with regulations or intentions as specified by donors.
It is VCS’ policy not to engage third party fundraisers in its fundraising initiatives. Where there are collaborative initiatives involving commercial fundraisers or use of third-party fundraisers, the involvement or use of third-party fundraisers, its rationale and fee arrangements should be submitted to the Board for deliberation and approval before commitment and disclosed to potential donors. Fundraising targets should be set based on VCS’ needs and disclosed to donors.
The total fund-raising expenses for each financial year should not exceed 30% of the total receipts from fund-raising and sponsorships for that financial year.