National Healthcare Group Fund 

IncomeFY2019FY2020% Increase/
  (Decrease)
(S$'000)(S$'000)FY2020 on FY2019
Donations in Cash   
-      Tax Deductible40917,8404,262%
-       Non-Tax Deductible0411100%
Donations in Kind   
-      Tax Deductible000%
-      Non-Tax Deductible000%
Grants / Sponsorships000%
Interest income564253(55%)
Gain on Revaluation of Unit Trust3235,6501,649%
Others000%
Total Receipts1,29624,1541,764%
    
ExpensesFY2019FY2020% Increase/
  (Decrease)
(S$'000)(S$'000)FY2020 on FY2019
Direct Fund-raising Expenses000%
Charitable Activities Expenses  
- Local1,3201,82638%
- Overseas5760(100%)
Operating/Administration Expenses434914%
Others000%
Total Expenditure1,9391,875(3%)
Excess (Deficit)(643)22,2793,565%


Balance SheetFY2019FY2020% Increase/
  (Decrease)
(S$'000)(S$'000)FY2020 on FY2019
ASSETS   
Land and Buildings000%
Other Tangible Assets000%
Investments43,47649,12613%
Inventories000%
Accounts Receivable35652(85%)
Cash & Deposits31,41748,54755%
Others000%
Total Assets75,24997,72530%
FUNDS  
Unrestricted Fund74,00695,95630%
Restricted Fund43075876%
Endowment Fund000%
Total Funds74,43696,71430%
LIABILITIES  
Long-Term Liabilities000%
Current Liabilities8131,01124%
Total Liabilities8131,01124%
Total Liabilities and Funds75,24997,72530%


Click HERE for the latest Audited Financial Statement of NHG Fund.

Click HERE for the latest Annual Report of NHG Fund.

Governance

ROLE OF THE BOARD OF DIRECTORS

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.

RESERVES AND INVESTMENT POLICY

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.

Restricted fund is used for specific purposes as designated by the donors. For the Lee Foundation NHG Lifetime Achievement, it is planned to be utilized from FY2020 to FY2023. For the fund designated to support battle against COVID-19, it was fully utilized in FY2020. For the fund to support research projects by NCID, SOCRATES, Save Limbs Save Lives, it will be used from FY2020 to FY2023.

 Reserves Position 31 Mar 202031 Mar 2021
  ($)($)
(A)General / Unrestricted Funds (Reserves)74,005,64295,955,799
 Restricted Funds  
 
  • Lee Foundation NHG Lifetime Achievement
30,00070,000
 
  • Battle Against COVID-19
250,000-
 
  • Fight Infectious Diseases (FIND)
150,000390,934
 
  • SOCRATES Programme
-270,318
 
  • Save Limbs Save Lives
-27,247
(B)Annual Operating Expenditure1,929,4971,875,797
 Ratio of Reserves [A/B]38.4:151.2:1


NHGF has set aside reserves to provide financial stability and the means for the development of the charity’s principal activity.

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

WHISTLE-BLOWING POLICY

NHGF adopts NHG whistle-blowing policy which sets out a whistle-blowing framework for report of concerns on actual or suspected wrongdoings, misconduct, negligent or improper activity for investigation and corrective actions.  The policy covers the whistle-blowing guidelines and processes (including investigation and reporting), confidentiality and protection of whistle-blowers.