To help enhance co-operatives’ capabilities, governance and operational efficiency, the CCF Development Grant will be available every year. It provides co-funding (at 80%) to co-operatives to cover various qualifying expenses. The funding quantum and caps are specified below:
| Qualifying Expenses | Funding Quantum | Cap at (per co-op, per annum) |
| Productivity Solutions (e.g. software, hardware) | 80% of the actual expenditure |
Tier A: $30,000 Tier B: $40,000 Tier C: $50,000 |
| Facilities Enhancement | ||
| Professional Services (outsourced internal audit fee, consultancy services, bookkeeping/accounting services, and statutory audit fee) | ||
| Salary (full-time accountant) | ||
| Digital, Social Media and Other Marketing Expenses |
The total amount of CCF Development Grant to be claimed by a co-operative each year is capped according to the applicable Tier A, B or C. The tiering is based on the co-operative’s latest CCF Contribution. The CCF Contribution Tiers are as follows:
| Co-operatives with positive net worth and made contributions to the CCF | |
| Contribution Tier | Contributions to the CCF |
| Tier A | up to $25,000 |
| Tier B | above $25,000 and up to $200,000 |
| Tier C | above $200,000 |
A co-operative with revenue of up to $1 million, negative net worth and/or did not contribute to the CCF (due to operating deficits) for its latest audited financial statements may still claim for statutory audit expenses (80% co-funding and capped at $2,000).
A co-operative with negative net worth and/or did not contribute to the CCF (due to operating deficits) for its latest audited financial statements may still claim for outsourced accounting services (80% co-funding and capped at $2,000).
Prerequisites and Conditions
a. The Co-operative must be registered with the Registry of Co-operative Societies.
b. The Co-operative is not receiving or has not received any other grants from CCF (except for Legal Services, Outsourced Internal Audit Grant and PDPA Grant), government agency and/or other organisation for the same expense item.
c. Endorsement from the Co-operative’s Committee of Management indicating their support for application.
d. For goods or services above $3,000 in value, the Co-operative needs to show that it has obtained a minimum of three quotations from vendors of comparable scope.
e. Grant applications submitted are for expenses incurred not more than 12 months ago.
f. The Co-operative must not have outstanding CCF contributions or late payment penalties.
g. Grant must only be used for the Co-operative’s expenses. It cannot be used for its subsidiary (if any) that is registered as a company.
h. The Co-operative must submit the invoice and proof of payment to the vendor.
i. For consultancy and other professional services, the Co-operative must provide the contract or agreement with the vendor.
j. For the Salary (Accountant), the Co-operative must provide:
• Certified true copy of degree/diploma certificate or any other documentary proof;
• Copy of employment contract;
• Letter from the Co-operative’s Chairman/CEO/CFO/COO to confirm employment status;
• Diploma holder needs to have a minimum three years of accounting experience; and
• Grant is only applicable for salary expense of one full-time accountant.
Application
To apply, please download the application form and submit:
- Following worksheet tabs in the Application Form*:
- CCF Development Grant Front Pg
- CCF Dev Grant - Summary
- Any other tabs applicable
*Kindly ensure every single worksheet tab submitted is signed.
- Supporting Documents e.g. invoices, receipts, certificates etc.
Completed documents are to be sent via email to your respective Relationship Manager (SNCF affiliates) or email us. Alternatively, you can send via post to:
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Attn: CCF Secretariat
Singapore National Co-operative Federation
510 Thomson Road
#12-02 SLF Building
Singapore 298135
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