In 2015, Temasek Life Sciences Laboratory (TLL) was granted an Institution of a Public Character (IPC) status under the Charities Act by Singapore’s Charity unit. IPCs are registered (or exempt) charities that are able to issue tax-deductible receipts for qualifying donations to donors. In other words, donors are able to claim tax relief from their assessable income based on the amount donated, at prevailing deduction rate. This means that any person or organisations can now make philanthropic donations to fund life science research at TLL, where such innovations can create positive impact for economic growth and societal well being.
The new status was awarded in recognition of TLL’s pursuit of research excellence as it continues to strive for greater excellence, to build on its existing capabilities and find innovative scientific solutions to help improve the lives of people both in Singapore and abroad.
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About TLL’s key initiatives
The key programmes at TLL focus on cell innovation research in areas such as plant and animal biotechnology, industrial microbiology, renewable resources and emerging infectious diseases. These areas help address food, environment, biosafety and biomedical crises relevant to Singapore and the region. TLL also implements training and internship programmes such as the Research Attachment Programme, to help nurture inquisitive young minds and develop aspiring scientists to become leaders in their fields.
About the requirements of an IPC
For an organisation to qualify for IPC status, they must meet the following criteria:
• Be exclusively charitable.
• Have at least three governing board members, at least two of whom must be Singapore citizens or permanent residents.
• Be a registered charity or an exempt charity or other charity that is not required to be registered, by virtue of section 5(4) of the Charities Act.
• The activities the organisation must be beneficial to the community in Singapore as a whole, and not confined to sectional interests or group of persons based on race, creed, belief or religion.
Did you know…
Over the past few years, there has been a growing trend of philanthropic giving in support of scientific research, not just from large foundations such as the Bill and Melinda Gates Foundation in the US, or the Wellcome Trust in the UK, but by other smaller parties. Although philanthropic sponsorship of science, particularly in the form of expensive assets such as large telescopes, or sponsorship for expeditions to far-off places, has been around for centuries, today the Internet permits what might be thought of as micro-philanthropy. Through a technique called crowd funding, in which members of the public donate small sums to projects they like, the possibility of scientific philanthropy has been extended to a larger pool of well-intentioned individuals, who have as a result contributed to increasing donations to scientific projects and research around the world. (Source: The Economist)