MILK Fund Governance
Ensuring transparency, accountability and responsible stewardship of funds.
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MILK (Mainly I Love Kids) Fund was set up as a society (Registry of Societies) on 24 June 2004. It was registered as a Charity, under the Charities Act on 6 July 2004.
Constitution : Registry of Societies (ROS)
ROS Number : ROS 187/2004 WEL
Date of Establishment : 24 June 2004
Charity Status - Charity Registration Number : 1793 , Charity Registration Date : 6 July 2004
Institution of a Public Character (IPC) status : 1 August 2004 to 31 March 2026
UEN Number : T04SS0150L
Registered Address : 1 Lorong 2 Toa Payoh, #07-00 Braddell House, Singapore 319637
A Member of : National Council of Social Service
Auditor : CLA Global TS Public Accounting Corporation
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Board Governance
The Board / Executive Committee (Ex-Co) oversees MILK's affairs. The key matters for the Ex-Co include:
approving broad policies, determining strategies and programme objectives of MILK
accountability for the management of donations
approving and monitoring annual budget
The Ex-Co meets at least twice a year and other deliberations/decisions are made via electronic methods.
Ex-Co Composition
The Ex-Co comprises of 6 members, all of whom are independent.
Each member has been appointed on the strength of his/her calibre, experience and potential to contribute.
The Honorary Treasurer may be re-elected to the same post for a consecutive term of office and, not withstanding such consecutive appointments, cannot serve for a continuous period of more than 4 years.
Fund raising
The donations received are used in accordance with MILK's regulations and guidelines, unless stated for specific programmes.
We believe in keeping fund-raising costs to the minimum so that the donations may go directly to the children and the programmes that support them.
Finance & Audit
The finance and audit processes are closely monitored by the Ex-Co for adequacy of internal controls.
Financial statements shall be disclosed to the public and other stakeholders via the annual report or the website.
Conflict of Interest & Related Party Transactions
MILK has a conflict of interest or related party transaction disclosure process.
The concerned parties should declare and abstain from voting in any decisions involving related parties or potential conflict of interest.
The Ex-Co must be informed of all related party transactions and disclosure made in the annual report.
No appointment of paid staff with close relationship (i.e. those who are more than acquaintances) with current Ex-Co members shall be made unless with the unanimous approval of all Ex-Co members who do not have any conflict of interest.
Disclosure & Transparency
Annual reports are prepared which include up-to-date information on MILK's programmes, activities and finances.
Audited financial statements and the annual reports are available at MILK's website for donors and other stakeholders.
Details of donation in kind, sponsored expenses and related party transactions would be disclosed in the audited financial statements and made available at MILK’s website.
Programme Objectives & Principles
Vision : No child capable of developing into a contributing member of society will be marginalised because of disability, illness, poverty or social circumstances.
Mission : MILK reaches out to disadvantaged children and youths who fall through the cracks by focusing on advocacy, fund raising and working with our partners to implement programmes.
Principles :
We believe in working with committed partners to ensure that our programmes are transformational and meet needs that fall through the cracks.
We believe that our programmes must be responsive and compassionate.
We believe in good governance guided by transparency and integrity.