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 member who served for more than 10 consecutive years since July 2013 is within constitutional term limit
No board remuneration had been paid.
NFAF is a holding company with its mission and programmes undertaken by NAFA.
There were no board meetings in FY2022 ended 31 March 2023.
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
|
2022
(S$'000) |
2023
(S$'000)
|
| Income |
|
|
| - Programme Fees |
37,277 |
38,541 |
| - Other Income
|
5,457 |
6,494 |
| - Government Grants |
23,323 |
24,846 |
| - Donations |
2,376 |
1,587 |
| Total Income |
68,433 |
71,468 |
| |
|
|
| Expenditure |
|
|
| - Administrative and operating expenses |
42,782 |
47,415 |
| - Other Expenses |
18,843 |
21,189 |
Total Expenditure
|
61,625 |
68,604 |
Consolidated statement of financial position
|
2022
(S$'000) |
2023
(S$'000)
|
Assets
|
|
|
- Land and Buildings
|
58,460 |
51,734 |
| - Other Assets
|
13,314 |
13,341 |
- Investments
|
18,616 |
29,899 |
- Trade and Other Receivables
|
6,572 |
2,832 |
| - Cash & Deposits
|
72,626 |
68,069 |
Total Assets
|
169,588 |
165,875 |
| |
|
|
Funds
|
|
|
- Total Unrestricted Funds
|
70,480 |
70,311 |
- Total Restricted Funds
|
22,787 |
25,820 |
Total Funds
|
93,267 |
96,131 |
| |
|
|
Liabilities
|
|
|
- Total Current Liabilities
|
26,034 |
24,854 |
- Total Non-Current Liabilities
|
50,287 |
44,890 |
Total Liabilities
|
76,321 |
69,744 |
| |
|
|
Total Funds and Liabilities
|
169,588 |
165,875 |
Notes:
- The financial information posted online is extracted from audited accounts.
- 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).