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 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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For more information, email us or contact your respective SNCF Relationship Manager.
