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
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 April 2025 to 31 March 2028
Board Members
Kindly view our board members list here.
Board Members of NAFA (as at Financial Year Ended 31 Mar 2025)
A total of 4 Board meetings were held during the financial year.
| Board members |
Appointment date |
Resignation date |
No. of meetings attended |
| Chairman, Ms. Low Sin Leng |
1 Jan 2012 |
- |
4 |
| Mr. Chia Wee Boon |
1 Jan 2020 |
- |
3 |
| Ms. Harasha Binte Khalid Bafana |
1 Jan 2019 |
- |
3 |
| Prof. Heng Chye Kiang |
1 Apr 2017 |
- |
2 |
| Mr. Koh Aun |
1 Jan 2021 |
- |
2 |
| Mr. Koh Chin Beng |
15 Mar 2025 |
- |
1 |
| Dr. Kwong Yuk Wah |
1 Apr 2017 |
- |
3 |
| Mr. Lau Teck Sien |
15 Mar 2025 |
- |
1 |
| Ms. Lee Mei Hui, Amanda |
1 May 2024 |
- |
2 |
| Mr. Lim Sing Siong |
1 Feb 2024 |
- |
2 |
| Prof. Elvin Lim Tze Kiat |
1 Jan 2021 |
- |
3 |
| Ms. Low Chi Kien |
1 Jan 2016 |
- |
1 |
| Mr. Low Sze Wee |
1 Sep 2024 |
- |
3 |
| Mr. Simon Ong Chin Sim |
1 Jan 2016 |
- |
4 |
| Ms. Tan Miao Ken May |
15 Apr 2023 |
- |
1 |
| Mrs Tan-Soh Wai Lan |
1 Feb 2024 |
- |
4 |
| Ms. Tham Kwang Hsueh Yvonne |
1 Jan 2020 |
- |
2 |
| Prof. Jesvin Yeo Puay Hwa |
1 Apr 2017 |
- |
1 |
| Dr. Zhou Zhaocheng |
1 Feb 2024 |
- |
3 |
| Mr. Tan Li Sheng |
1 Jan 2021 |
30 Apr 2024 |
N.A |
| Mr. Latiff Bin Ibrahim |
1 Apr 2017 |
30 Jun 2024 |
1 |
| Mr. Ting Wei Jin, Kennie |
1 Jan 2019 |
30 Jun 2024 |
0 |
| Dr. Kan Yaw Kiong @ Ernest |
1 Jan 2019 |
31 Dec 2024 |
1 |
Chairman Ms. Low Sin Leng has served since 2012, and her continued appointment complies with the constitutional provision allowing re-appointment beyond 12 years with the required board approval.
No Board remuneration had been paid.
Board selection, recruitment, re-appointment, training and evaluation of Board effectiveness
-
Potential Board members nominated by the Board Executive Committee had to be approved by the Board in accordance with the constitution.
-
New Board members had been briefed on their roles and responsibilities.
-
Re-appointment of Board members had to be approved by the Board in accordance with the constitution.
-
Yearly independent surveys were conducted amongst the Board members to gather feedback for review by the Board.
Key Employees
Mrs Tan-Soh Wai Lan, President (Appointed on 1 January 2021)
Associate Professor, Chong Keng Hua, Vice-President (Academic) & Provost (Appointed on 3 February 2025)
Mr Yong Lye Yong, Vice-President (Corporate Services) (Appointed on 1 January 2025)
Auditor: Ernst & Young LLP
Financial Information for year ended 31 March
Income & Expenditure Statement
|
2024
(S$'000)
|
2025
(S$'000)
|
Income
|
|
|
- Programme Fees
|
40,021 |
42,350 |
| - Other Income |
7,202 |
7,215 |
| - Government Grants |
25,005 |
26,371 |
| - Donations |
3,264 |
1,457 |
Total Income
|
75,492 |
77,393 |
|
|
|
Expenditure
|
|
|
- Administrative and operating expenses
|
49,485 |
51,038 |
| - Other Expenses |
22,644 |
21,932 |
Total Expenditure
|
72,129 |
72,970 |
|
|
|
| Surplus |
3,363 |
4,423
|
| - Net Surplus in Unrestricted Funds |
2,255 |
4,844 |
| - Net Surplus/ (Deficit) in Restricted Funds |
1,436 |
(62) |
| - Net Surplus/ (Deficit) in Sinking Funds |
(328) |
(359) |
Balance Sheet
|
2024
(S$'000)
|
2025
(S$'000)
|
Assets
|
|
|
- Land and Buildings
|
45,296 |
38,970 |
- Other Assets
|
13,399 |
14,597 |
- Investments
|
29,910 |
24,362 |
- Trade and Other Receivables
|
3,353 |
4,358 |
- Cash & Deposits
|
69,531 |
79,614 |
Total Assets
|
161,489 |
161,901 |
| |
|
|
Funds
|
|
|
- Total Unrestricted Funds
|
68,397 |
72,541 |
| - Total Restricted Funds |
27,628 |
27,907 |
Total Funds and Reserves
|
96,025 |
100,448 |
| |
|
|
Liabilities
|
|
|
| - Total Current Liabilities |
26,234 |
27,250 |
- Total Non-Current Liabilities
|
39,230 |
34,203 |
Total Liabilities
|
65,464 |
61,453 |
| |
|
|
Total Funds and Liabilities
|
161,489 |
161,901 |
Notes and other disclosures:
-
The financial information posted online is extracted from audited accounts.
-
Restricted funds, consisting of donations and related interest income, are designated to support campus development, student scholarships and bursaries, research, and other academic initiatives.
-
NAFA’s reserve level is more than 1 year of working capital for contingency and campus development project.
-
There was a fund-raising golf event in financial period from 1 April 2024 to 31 Mar 2025.
-
There were no paid staff who were close members of the family of the Executive Head or Board Member receiving more than $50,000 during the year.
-
NAFA has documented procedures for board members and staff to declare conflict of interest.
-
NAFA has documented procedures for financial matters in key areas including procurement procedures and controls, receipting, payment procedures and controls and System for the delegation of authority and limits of approval.
-
Staff are not involved in setting their own remuneration.