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1. Non-Financial Information
Name of Organisation:
Singapore Millennium Foundation Limited
Address:
60B Orchard Road
#06-18 Tower 2 The Atrium@Orchard
Singapore 238891 | Contact Information
Name of Contact Person: John De Roza
Telephone No: (65) 6828 6982
Fax No: (65) 6828 6482
Email Address: secretariat@smf-scholar.org
Web-site Address: www.smf-scholar.org |
Charity Status
Charity Regn No: 01508
Charity Regn Date: 18th June 2001
Company Regn No: 200102355R
Constitution: Company Limited by Guarantee
Date of Establishment: 7th April 2001
RCB Regn No: 200102355R | IPC Status
Effective Date : 20th Feb 2007 to 19th Feb 2012
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Objectives:
The SMF is a non-profit charitable organization set up to promote and advance scientific progress in Singapore. Established in 2001, the SMF aims to enhance the vitality and excellence of the country’s human resource base, promote R&D capabilities, and improve Singapore’s international visibility in the R&D arena. | |
Office Bearers
Prof. Lim Pin (Chairman)
Lord Charles David Powell
Mr Lim Yong Wah
Mr Tan Gee Paw
Prof Su Guaning
Mr Ong Boon Hwee
Mr Chan Wai Kong Willie
Key Employees: Nil
Auditor: KPMG |
FINANCIAL INFORMATION
Income | FY2004
(S$'000) | FY2005
(S$'000) | FY2006
(S$'000) | FY 2007
(1/1/2007-31/3/2008)
(S$'000) | % Increase / (Decrease) [FY2007 on FY2006] |
Donations in Cash
- Tax Deductible | 3,352 | 3,635 | 3,785 | 4,500 | 19% |
| - Non-Tax Deductible* | - | - | - | - | - |
Donations in Kind
- Tax Deductible | - | - | - | - | - |
| - Non-Tax Deductible* | - | - | - | - | - |
| Grants / Sponsorships | - | - | - | - | - |
| Investment Income | - | 5 | 16 | 36 | 125% |
| Investment gains | - | - | - | - | - |
| Others (please specify if material) | - | - | - | - | - |
| Total Income | 3,352 | 3,640 | 3,801 | 4,536 | 19% |
Expenses | FY2004
(S$'000) | FY2005
(S$'000) | FY2006
(S$'000) | FY 2007
(1/1/2007-31/3/2008)
(S$'000) | % Increase / (Decrease) [FY2007 on FY2006] |
| Direct Fund-raising Expenses** | - | - | - | - | - |
Charitable Activities Expenses***
- Local | 3,227 | 3,551 | 3,464 | 4,402 | 27% |
| - Overseas | - | - | - | - | - |
| Other Operating & Adminsitration Expenses**** | 162 | 168 | 236 | 212 | (10%) |
| Others (please specify if material) | - | - | - | - | - |
| Total Expenditure | 3,389 | 3,719 | 3,700 | 4,614 | 25% |
| Surplus / (Deficit) | (37) | (79) | 101 | (78) | (177%) |
Balance Sheet | FY2004
(S$'000) | FY2005
(S$'000) | FY2006
(S$'000) | FY 2007
(1/1/2007-31/3/2008)
(S$'000) | % Increase / (Decrease) [FY2007 on FY2006] |
| ASSETS | | | | | |
| Land and Buildings | - | - | - | - | - |
| Other Tangible Assets | - | - | - | - | - |
| Investments | - | - | - | - | - |
| Inventories | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - |
| Cash & Deposits | 324 | 335 | 300 | 230 | (23%) |
| Others (please specify if material) | - | - | 6 | - | (100%) |
| Total Assets | 324 | 335 | 306 | 230 | (25%) |
| | | | | |
| FUNDS | | | | | |
| Unrestricted Fund***** | 276 | 197 | 297 | 219 | (26%) |
| Restricted Fund+ | - | - | - | - | - |
| Endowment Fund++ | - | - | - | - | - |
| Total Funds | 276 | 197 | 297 | 219 | (26%) |
| | | | | |
| LIABILITIES | | | | | |
| Long-Term Liabilities | - | - | - | - | - |
| Current Liabilities | 48 | 138 | 9 | 11 | 22% |
| Total Liabilities | 48 | 138 | 9 | 11 | 22% |
| Total Funds and Liabiltiies | 324 | 335 | 306 | 230 | (25%) |
Other Information | FY2004
(S$'000) | FY2005
(S$'000) | FY2006
(S$'000) | FY 2007
(1/1/2007-31/3/2008)
(S$'000) | % Increase / (Decrease) [FY2007 on FY2006] |
| Donations/Grants and Sponsorships given to other Charities (S$'000) | - | - | - | - | - |
| No. of Emloyees | 1 | - | - | - | - |
| Total Employee Costs (S$'000) | 115 | - | - | - | - |
| Total Related Party Transactions+++ (S$'000) | - | - | - | - | - |
| Fund-raising efficiency++++ | - | - | - | - | - |
| Ratio of reserves to annual operating expenditure+++++ | 0.08 | 0.05 | 0.08 | 0.05 | (38%) |
* These include donations collected through flag days, donations that entail benefits to the donors and donations received for overseas purposes.
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** This refers to costs directly incurred and paid for during fund-raising. They include such costs as advertisements, printing, publicity materials, rental of premises, logistics, hiring of commercial third-party fund-raisers, organizing games of chance,
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*** These are all resources applied by the charity in undertaking its work to meet its charitable objectives in the delivery of goods and services. Such costs include the direct costs of the charitable activities together with those support costs incurred
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**** These are expenses which relate to the general running of the charity that provide the governance infrastructure which allows the charity to operate, to generate the information required for public accountability, and the strategic planning processes th
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***** These are generally unrestricted funds which the IPC is free to use for its programme and operating costs, e.g. General Fund.
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+ These are special funds held by the IPC that can only be applied for specific purposes, e.g. Building Fund.
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++ These are funds which the IPC holds in trust for the benefit of the IPC as a capital fund. Generally, only interest income from Endowment Funds are used, and not the capital sum.
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+++ Related Party Transactions refer to transactions between the IPC and another person where either person could have influence over the other. For example, if a board member of an IPC is related to a certain supplier of services for the IPC, the value of transactions should be disclosed in accordance with prescribed Singapore Financial Reporting Standards.
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++++ This is computed according to the formula given in regulation 2 of the Charities (Institutions of a Public Character) (Amendment) 2008 Regulations. Details on the computation of this ratio can also be found on the Charity Portal.
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+++++ This is expressed in the ratio of C to D, where C refers to Unrestricted Funds; and D refers to Charitable Activities Expenses and Other Operating and Administration Expenses.
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