Financial Information


NFAF is a not-for-profit organisation with charity status.

Name of Organisation : Nanyang Fine Arts Foundation Limited

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 : kjwong@nafa.edu.sg
Website Address : http://www.nafa.edu.sg

Constitution :
Company Limited by Guarantee
Date of Incorporation : 25 October 1989
UEN. : 198904643G

Charity Status :
Charity Registration No. : 198904643G
Charity Registration Date : 23 March 1990

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

Board Members

Ms Low Sin Leng
Mr Poh Choon Ann
Mr Liew Shin Liat
Mr Chia Mia Chiang
Mr Lee Seng Suan
Prof Lim Hock
Mr Low Kin Kiong
Mr Ng Yook Meng
Prof Phua Kok Khoo
Mdm Som Bte Mohd Said

Auditor: KPMG

Financial Information for year ending 31 March 2016

Income
2014
(S$'000)
2015
(S$'000)
2016
(S$'000)
Increase/(Decrease)
[2016 on 2015]
Donations in Cash
1,710
1,072
9,416
779%
Donations in Kind




- Tax Deductible
0
0
0
-
- Non Tax-Deductible
0
0
0
-
Grants
20,410
19,091
19,479 2%
Sponsorships
418
240 343 43%
Investment Income
0
0
0
-
Investment Gains
0
0
0
-
Programme Fees
0
0
0
-
Others
28,671
32,146
34,248 7%
Total Income
51,209
52,550
63,486 21%
Expenses
2014
(S$'000)
2015
(S$'000)
2016
(S$'000)
Increase/(Decrease)
[2016 on 2015]
Fund Raising Expenses




- Direct Expenses
0
0
0
-
- Indirect Expenses (if material)
0
0
0
-
- Sponsorship Expenses
0
0
0
-
Charitable Activities Expenses




- Local (eg. Direct & Admin)
0
0
0
-
- Overseas (eg. Direct & Admin)
0
0
0
-
Other Expenses & Administration Expenses
49,839
50,230
52,903 5%
Other Operating
0
0
0
-
Total Expenditure
49,839
50,230
52,903 5%
Surplus/(Deficit)
1,370
2,319
10,583 356%
Balance Sheet
2014
(S$'000)
2015
(S$'000)
2016
(S$'000)
Increase/(Decrease)
[2016 on 2015]
Assets




Land and Buildings
54,558
51,369
64,493 26%
Other Tangible Assets
13,222
19,378
17,982 -7%
Investments
8,303
9,772
9,677 -1%
Inventories
0
0
0
-
Accounts Receivables
3,416
2,378
3,362 41%
Cash & Deposits (eg. Fixed Deposites, Saving in Bank)
36,912
32,572
31,247 -4%
Other Operating
0
0
0
-
Total Assets
116,410
115,468
126,762 10%
Funds




Unrestricted Fund
31,842 32,328
35,809 11%
Restricted Fund
10,113
11,946
19,049 59%
Total Funds
41,955
44,275
54,858 24%
Liabilities




Long-Term Liabilities
56,185
53,509
52,492 -2%
Current Liabilities
18,270
17,684
19,412 10%
Total Liabilities
74,455
71,194
71,904 1%
Total Funds and Liabilities
116,410
115,468
126,762 10%
Other Information
2014
2015
2016
Donations, Grants and Sponsorships given to other Charities (S$'000) 0
0
0
No. of Employees
572
570
618
Total Employee Costs (S$ '000)
25,947
26,906
28,208
Fund-raising Efficiency Ratio
0
0
0
Total Related Party Transactions (S$ '000)
0
0
0

Note:

  • Restricted Funds (ending 31 March 2016) include Sinking Fund ( $4.35m) , Campus Development Fund ($9.83m)and major funds from Leong Yoon Pin ($0.38m), San San Music Merit Award ($0.45m) Estate of Wong Maan Shing ($0.40m) and Kwan Im Thong Hood Cho Temple ($2.40m) to provide students' scholarships and bursaries.
  • No. of Employees include Part- time employees of 335 (ending 31 March 2016) and 298 (ending 31 March 2015).
  • Total Employee Costs relate to salaries and central provident fund.
  • *The financial information posted online is extracted from audited accounts.