B.6.2A not-for-profit with a charity's safeguards

The Seed Bank is a company limited by guarantee, registered as a charity with the Commissioner of Charities and governed as B.14 sets out, under the Charity Council's Code of Governance. It seeks registration with Arts and Heritage as its primary sector, because MCCY's Cultural Matching Fund matches only charities and IPCs in that sector, and part of the endowment's matching pool (public money that matches gifts dollar for dollar) is sought there (B.6). The Fund's terms set how large that part can be. It matches cash gifts only, in yearly application windows (the 2026 window ran from 1 April to 31 May). The first $300,000 matched in a window is for general use; anything above that goes first to culture-sector priority projects. And gifts already matched by another government grant that allocates funds on income raised are not eligible, so a dollar matched by the operating match (B.6) cannot be matched again by the Fund (MCCY). Two points need MCCY's word before the campaign counts on the Fund: that the Commissioner of Charities, who classes a charity by its main activities, would class the Seed Bank as Arts and Heritage when its largest lines are cover, Fellowships and relief cooks; and that matched gifts may go into the endowment's corpus. Until both are confirmed, the plan treats the Fund as one source of the $10M pool, with the rest a Budget line, as B.7 already counts it. It applies for IPC status so that donors receive the 250% tax deduction, which Budget 2026 extended to the end of 2029. Until IPC status is granted, early gifts are received through a donor-advised fund at an existing IPC, such as the Community Foundation of Singapore, so Year 0 donors lose nothing. The investment policy, the draw (the share of the endowment spent each year) and every year's returns are published with the annual report.