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STEP Board Members
Prof. Leo Tan (Chairman)
Mrs Fang Ai Lian
Mr Ong Boon Hwee
Mr Willie Chan
Financial Information
Charity Status:
Charity Registration No: 1312
Charity Registration Date: 2nd May 1998
Constitution: Company Limited by Guarantee
Date of Establishment: 6th June 1997
RCB Registration No: 199703832 N
IPC Status:
Effective Date: 1 June 2008 to 30 May 2011
Auditor
KPMG
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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 | - | - | - | - | - |
| - Non-Tax Deductible* | - | - | - | - | - |
Donations in Kind
- Tax Deductible | - | - | - | - | - |
| - Non-Tax Deductible* | - | - | - | - | - |
| Grants / Sponsorships | 36 | 13 | 18 | - | (100%) |
| Investment Income | 358 | 371 | 458 | 448 | (2%) |
| Investment gains | - | - | 15 | 71 | 373% |
| Others (please specify if material) | - | - | - | - | - |
| Total Income | 394 | 384 | 491 | 519 | 6% |
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 | 307 | 367 | 371 | 504 | 36% |
| - Overseas | - | - | - | - | - |
| Other Operating & Adminsitration Expenses**** | 164 | 6 | 10 | 14 | 40% |
| Others (please specify if material) | - | - | - | 18 | - |
| Total Expenditure | 471 | 373 | 381 | 536 | 41% |
| Surplus / (Deficit) | (77) | 11 | 110 | (17) | (115%) |
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 | 5,214 | 5,504 | 4,422 | 10,675 | 141% |
| Inventories | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - |
| Cash & Deposits | 5,571 | 5,680 | 6,589 | 586 | (91%) |
| Others (please specify if material) | 140 | 163 | 320 | 69 | (78%) |
| Total Assets | 10,925 | 11,347 | 11,331 | 11,330 | 0% |
| | | | | |
| FUNDS | | | | | |
| Unrestricted Fund***** | (266) | (255) | (145) | (162) | 12% |
| Restricted Fund+ | - | - | - | - | - |
| Endowment Fund++ | 11,186 | 11,186 | 11,186 | 11,186 | 0% |
| Fair Value Reserve | - | 290 | 230 | 305 | 33% |
| Total Funds | 10,920 | 11,221 | 11,271 | 11,329 | 1% |
| | | | | |
| LIABILITIES | | | | | |
| Long-Term Liabilities | - | - | - | - | - |
| Current Liabilities | 5 | 126 | 60 | 1 | (98%) |
| Total Liabilities | 5 | 126 | 60 | 1 | (98%) |
| Total Funds and Liabiltiies | 10,925 | 11,347 | 11,331 | 11,330 | 0% |
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$'000) | - | - | - | - | - |
| No. of Emloyees | - | - | - | - | - |
| Total Employee Costs (S$'000) | - | - | - | - | - |
| Total Related Party Transactions+++ (S$'000) | - | - | - | - | - |
| Fund-raising efficiency++++ | - | - | - | - | - |
| Ratio of reserves to annual operating expenditure+++++ | -177% | 3008% | 2958% | 2114% | (29%) |
* 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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