National Healthcare Group Fund 

IncomeFY2021FY2022% Increase/


(S$'000)(S$'000)FY2022 on FY2021
Donations in Cash   
-      Tax Deductible5,3072,654(50%)
-       Non-Tax Deductible172229%
Donations in Kind   
-      Tax Deductible00NA
-      Non-Tax Deductible00NA
Grants / Sponsorships00NA
Interest income69144109%
Gain/(Loss) on Revaluation of Unit Trust(1,737)(4,074)135%
Total Receipts3,656(1,254) 
ExpensesFY2021FY2022% Increase/
(S$'000)(S$'000)FY2022 on FY2021
Direct Fund-raising Expenses220%
Charitable Activities Expenses   
- Local2,8605771102%
- Overseas20188(56%)
Operating/Administration Expenses194(79%)
Total Expenditure3,0825,865 
Excess (Deficit)574(7,119) 


Balance SheetFY2021FY2022% Increase/
(S$'000)(S$'000)FY2022 on FY2021
Land and Buildings00NA
Other Tangible Assets00NA
Accounts Receivable313333%
Cash & Deposits13,5046,774(50%)
Total Assets98,89594,600 
Unrestricted Fund96,82087,404(10%)
Restricted Fund4692,765490%
Endowment Fund00NA
Total Funds97,28990,169 
Long-Term Liabilities00NA
Current Liabilities1,6064,431176%
Total Liabilities1,6064,431 
Total Liabilities and Funds98,89594,600 

​Report Name 
​​NHG Fund Annual Report FY2022
Click here
​NHG Fund Audited Financial Statement for the Year ended 31 March 2023
Click here
​NHG Fund Annual Report FY2021
Click here
​NHG Fund Audited Financial Statement for the Year ended 31 March 2022
Click here 
​NHG Fund Annual Report FY2020 
Click here
​NHG Fund Audited Financial Statement for the Year ended 31 March 2021 
Click here



The Board's role is to oversee the administration of NHG fund, including ensuring good governance within NHG Fund.  In addition, the Board provides guidance and advisory on the strategic directions and objectives of NHG Fund. The roles and responsibilities of the Board and guidelines on declaration of conflict of interest are set out in the policy on Board Governance and Code of conduct.


NHGF is mainly funded by tax savings and donations from restructured hospitals and healthcare institutions in NHG. It has a reserve policy for long-term stability to ensure there is financial stability and ability to support the charity's principal activity. As a general rule of thumb, NHG Fund aims to maintain more than 10 years of operational expenditure kept as reserves. This reserves level is reviewed annually by the Board to ensure that the reserves are adequate to fulfil its continuing obligations.

The Ratio of Reserves for FY2021 is 31:1 (FY2020: 51:1). NHGF has designated its reserves largely to support areas such as Research and Medical Capability Development, Health Manpower and Talent Development, and Population Health.

Donations, grants and its related expenses that are designated to the respective programmes are disclosed separately from the General/Unrestricted Funds. The restricted funds will be utilized from FY2020 to FY2023.

Under its investment policy as approved by the Board, NHGF may invest its reserves in Fixed Deposit and any investment instrument approved by MOHH Central Treasury.


NHGF adopts NHG's whistle-blowing policy which sets out a whistleblowing framework for reporting concerns on actual or suspected wrongdoings, misconduct, and negligent or improper activities for investigation and corrective actions. The policy covers the whistleblowing guidelines and processes (including investigation and reporting), confidentiality and protection of whistle-blowers. If you observe or have reason to suspect any NHG employees and/or its partners engaged in any wrong-doings, we strongly encourage you to raise your concerns at or call our Whistle-Blowing hotline at 800-492-2363.