Financial Information


NAFA is a not-for-profit private education institution with charity status. We receive financial support from Singapore’s Ministry of Education and dollar-for-dollar matching for cash donations from Singapore’s Ministry of Culture, Community and Youth.

Name of Organisation : Nanyang Academy of Fine Arts

Address : 80 Bencoolen Street, Singapore 189655

Contact Information :
Name of Contact Person : Mr Wong Kron Joo , Director (Finance)
Telephone No : 6512 4033
Fax No : 6337 3920
Email : [email protected]
Website Address : www.nafa.edu.sg

Constitution :
Company Limited by Guarantee
Date of Incorporation : 26 March 2010
UEN. : 201006523M

Charity Status :
Charity Registration No. : 201006523M
Charity Registration Date : 01 April 2010

Institution of a Public Character (IPC) Status :
Effective Date : 1 January 2016 to 31 December 2018

Board Members

Kindly view our board members list here.

Key Employees
Mr Chia Mia Chiang, President
Mr Soo Tah Keng Jerry, Vice-President (Academic)
Ms Carol Tan, Vice-President (Administration)
Mr Khor Kok Wah, Vice- President (Industry & Projects)

Auditor: KPMG

Financial Information for year ending 31 March 2017

Receipts
2015
(S$'000)
2016
(S$'000)
2017
(S$'000)
Increase/(Decrease)
[2017 on 2016]
Donations in Cash
       
- Tax Deductible
1,072
9,416 11,567 23%
- Non Tax Deductible
0
0
0
-
Total Donations in Cash 1,072
9,416 11,567 23%
Donations in Kind




- Tax Deductible
0
0
0
-
- Non Tax-Deductible
0
0
0
-
Total Donations in Kind 0
0
0
-
Government Grants
19,091
19,479
20,857 7%
Investment Income
0
0
0
-
Programme Fees
0
0
0
-
Other Income
32,059 34,537 38,426 11%
Total Receipts
52,222
63,432 70,850 12%
         
Capital in Nature
952 9,364 11,487 23%
Expenses
2015
(S$'000)
2016
(S$'000)
2017
(S$'000)
Increase/(Decrease)
[2017 on 2016]
Fund Raising Expenses




- Fund-Raising Expenses
0
0
0
-
Charitable Activities Expenses




- Local (eg. Direct & Admin)
0
0
0
-
- Overseas (eg. Direct & Admin)
0
0
0
-
Total Charitable
Activities/Programme Expenses
0
0
0
-
Other Expenses 49,881
52,962 53,201 0%
Total Expenditure
49,881
52,962 53,693 1%
Balance Sheet
2015
(S$'000)
2016
(S$'000)
2017
(S$'000)
Increase/(Decrease)
[2017 on 2016]
Assets




- Land and Buildings
51,107
64,300 60,512 -6%
- Other Tangible Assets
19,129
17,792 33,088 86%
- Investments
9,772
9,677 6,631 -31%
- Inventories
0
0
0
-
- Accounts Receivables
2,901
3,263 4,075 25%
- Cash & Deposits
29,060
27,701 35,254 27%
Other Assets
0
0
0
-
Total Assets
111,969
122, 733 139,560 14%
         
Funds




- Total Unrestricted Funds
28,958
32,325 38,427 19%
- Total Restricted Funds 11,946
19,049 30,105 58%
Total Funds and Reserves
40,904
51,374 68,532 33%
         
Liabilities




- Total Current Liabilities 17,556
18,866 22,468 19%
- Total Non-Current Liabilities
53,509
52,493 48,560 -7%
Total Liabilities
71,065
71,359 71,028 0%
Total Funds and Liabilities
111,969
122,733 139,560 14%
Other Information
2015
2016 2017
Donations, Grants and Sponsorships given to other Charities (S$'000)
0
0
0
No. of Employees
524
552 586
Total Employee Costs (S$ '000)
26,866
28,176 31,045
Fund-raising Efficiency Ratio
0
0 0
Total Related Party Transactions (S$ '000)
1,170
1,601 1,585

Notes:

  • Restricted Funds are funds raised for the Campus Development Fund, Scholarships and Bursaries, which are disbursed to students.
  • No. of Employees include part- time employees. Total number of part-time employees stood at 331 and 305, as at 31 March 2017 and 31 March 2016 respectively.
  • Total Employee Costs relate to salaries and Central Provident Fund contributions.
  • *The financial information posted online is extracted from audited accounts.