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 2019 to 31 March 2022

Board Members

Kindly view our board members list here.

Board Members of NAFA (as at Financial Year Ended 31 Mar 2019)

No. of Board meetings attended (in brackets). There was a total of 4 meetings held during the financial year.

Ms Low Sin Leng, Chairman (4)
Mr Chew Sin Hwa (2)
Assoc Prof Chia Wei Khuan (4)
Ms Chiang Loo Fern (4)
Prof Heng Chye Kiang (1)
Mr Hoong Bee Lok (3)
Dr Kwong Yuk Wah (3)
Mr Latiff Ibrahim (3)
Mr Leong Weng Kam (4)
Ms Christine Low Chi Kien (3)
Mr Simon Ong Chin Sim (3)
Dr Lucy Ooi# (1)
Assoc Prof Jesvin Yeo Puay Hwa (1)
Ms Harasha bte Khalid Bafana* (1)
Mr Kennie Ting Wei Jin* (1)
Dr Ernest Kan Yaw Kiong* (1)
Ms Joan Moh Jiehui* (1)

*Appointed on 1 Jan 2019
#Board service of more than 10 years is within the Constitutional limit of 12 years

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 ended 31 March

Income & Expenditure Statement
2017
(S$'000)
2018
(S$'000)
2019
(S$'000)
Income
     
- Programme Fees
35,707 38,617 38,645
- Other Income 2,719 4,877 5,766
- Government Grants 20,857 21,908 21,939
- Donations 11,567 5,317 3,367
Total Income
70,850 70,719 69,717
Expenditure



- Administrative and operating expenses
37,124 40,472 43,630
- Other Expenses 16,569 17,746 18,253
Total Expenditure
53,693 58,218 61,883
Surplus 17,157 12,501 7,834
- Net Surplus in Unrestricted Funds 6,102 7,694 5,322
- Net Surplus in Restricted Funds 11,055 4,807 2,512
Balance Sheet
2017
(S$'000)
2018
(S$'000)
2019
(S$'000)
Assets



- Land and Buildings
60,512 82,112 76,388
- Other Assets
33,088 7,671 8,762
- Investments
6,631 12,783 13,722
- Trade and Other Receivables
4,075 5,149 3,774
- Cash & Deposits
35,254 38,764 46,498
Total Assets
139,560 146,479 149,144
       
Funds



- Total Unrestricted Funds
38,427 46,121 51,443
- Total Restricted Funds 30,105 9,255 11,767
Total Funds and Reserves
68,532 55,376 63,210
       
Liabilities



- Total Current Liabilities 22,468 21,517 21,257
- Total Non-Current Liabilities
48,560 69,586 64,677
Total Liabilities
71,028 91,103 85,934
       
Total Funds and Liabilities
139,560 146,479 149,144

Notes:

  • Restricted Funds are funds raised for the Campus Development Fund, scholarships and bursaries for students.
  • The financial information posted online is extracted from audited accounts.