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

* Board member who has 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 FY2023, which ended on 31 March 2024.
Except for AGM, Board approvals at NFAF are done via circulation as provided in the Constitution.

Auditor: Ernst & Young LLP

Financial information for year ended 31 March

Consolidated statement of comprehensive income
2023
(S$'000)
2024
(S$'000)
Income    
- Programme Fees 38,541 40,024
- Other Income 6,494 7,286
- Government Grants 24,846 25,005
- Donations 1,587 3,264
Total Income 71,468 75,579
     
Expenditure    
- Administrative and operating expenses 47,415 50,121
- Other Expenses 21,189 22,003
Total Expenditure
68,604 72,124
Surplus
2,864 3,455
Consolidated statement of financial position
2023
(S$'000)
2024
(S$'000)
Assets


- Land and Buildings
51,996 46,809
- Other Assets 13,079 13,399
- Investments
29,899 30,879
- Trade and Other Receivables
2,832 3,364
- Cash & Deposits 68,069 72,491
Total Assets
165,875 166,942
     
Funds


- Total Unrestricted Funds
70,311 71,957
- Total Restricted Funds
25,820 27,628
Total Funds
96,131 99,585
     
Liabilities


- Total Current Liabilities
24,854 26,747
- Total Non-Current Liabilities
44,890 40,610
Total Liabilities
69,744 67,357
     
Total Funds and Liabilities
165,875 166,942

Notes:

  • The financial information posted online is extracted from audited accounts.
  • Restricted funds comprise donations and accumulated interest income generated thereon. The objectives of these funds include providing support and assistance for students, campus building upgrading, IT infrastructure enhancement, and research and other programmes.