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: [email protected]
Website Address: 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

Board Members

Ms Low Sin Leng
Associate Prof Chia Wei Khuan
Prof Heng Chye Kiang
Mr Hoong Bee Lok
Mr Leong Weng Kam
Ms Christine Low Chi Kien
Mr Simon Ong Chin Sim
Dr Lucy Ooi
Mr Tan Li Sheng
Mrs Tan-Soh Wai Lan

*Board service of more than 10 years is within the Constitutional limit of 12 years

NFAF is a holding company with its mission and programmes undertaken by NAFA.
There were no board meetings in FY2020 ended 31 March 2021.
Except for AGM, Board approvals at NFAF are done via circulation as provided in the Constitution.

Auditor: KPMG LLP

Financial information for year ended 31 March

Consolidated Income Statement
2020
(S$'000)
2021
(S$'000)
Income    
- Programme Fees 39,653 38,855
- Other Income 6,101 5,085
- Government Grants 21,685 21,305
- Donations 3,414 624
Total Income 70,853 65,869
     
Expenditure    
- Administrative and operating expenses 44,688 37,931
- Other Expenses 17,618 16,764
Total Expenditure
62,306 54,695
Surplus
8,547 11,174
Statement of Financial Position
2020
(S$'000)
2021
(S$'000)
Assets


- Land and Buildings
72,830 65,186
- Other Assets 11,977 12,284
- Investments
13,716 15,013
- Trade and Other Receivables
4,965 4,677
- Cash & Deposits 61,427 76,951
Total Assets
164,915 174,111
     
Funds


- Total Unrestricted Funds
61,219 72,553
- Total Restricted Funds
14,066 13,906
Total Funds
75,285 86,459
     
Liabilities


- Total Current Liabilities
28,239 32,390
- Total Non-Current Liabilities
61,391 55,262
Total Liabilities
89,630 87,652
     
Total Funds and Liabilities
164,915 174,111

Notes:

  • Restricted Funds are funds raised for the Campus Development Fund (for its various development projects timeline in the near term), scholarships and bursaries for students (over the course of students programme duration).
  • The financial information posted online is extracted from audited accounts.