Financial & Non-Financial Information

Annual Report

Financial Information (Last update: 30 June 2017)

INCOME AND EXPENSES 2014         (S$’000) 2015         (S$’000) 2016         (S$’000) % Increase/ (Decrease)
Receipts
Donations
– CPF Check-Off Scheme (Operation)
$12,873 $21,177 $22,880 8%
– Direct Donations (Operation) $349 $456 $641 41%
– Direct Donations (Endowment) $361 $2,231 $425 -81%
– Fund Raising Charity Dinner (Endowment) $8,962 $6,160 $2,701 -56%
Grants/Sponsorships (Government Agencies) (Operation) $4,150 $4,855 $4,722 -3%
Net Investment Income (Operation) $148 $133 $133 0%
Net Investment Income (Endowment) $731 $782 $986 26%
Other Income (Fee & others) (Operation) $1,864 $2,402 $2,172 -10%
Other Income (Fee & others) (Endowment) $15 $20 $44 120%
Total Receipts- Operation $19,384  $29,023  $30,548  5%
Total Receipts- Endowment $10,069  $9,193  $4,156  -55%
         
Expenses        
Direct Fundraising Expenses (Endowment) $161 $0 $0 0%
Direct Charitable Expenses (Local)
 –  Operation Fund $21,673 $24,232 $21,479 -11%
 –  Endowment Fund $0 $0 $0 0%
Operating/Administration Expenses/Others (Operation- Note 1) $2,157 $2,295 $2,228 -3%
Share of loss of associate (Operation- Note 2) $0 $0 $705
Total Expenses- Operation $23,830  $26,527  $24,412  -8%
Total Expenses- Endowment $161  $0  $0  0%
Excess/(Deficit)- Operation ($4,446) $2,496  $6,136  146%
Excess/(Deficit)- Endowment $9,908  $9,193  $4,156  -55%
Note 1:  Include fee paid to CPF Board and Singapore Land Authority

Note 2:  In October 2015, CDAC, together with Singapore Indian Development Association, Yayasan MENDAKI, and the Eurasian Association incorporated Self Help Groups Student Care Limited (“SHGSCL”) to jointly operate student care centres in schools that serve students from all races.

BALANCE SHEET 2014        (S$’000) 2015        (S$’000) 2016        (S$’000) % Increase/ (Decrease)
Assets
Tangible Assets (Property & Equipment) $1,432 $1,198 $1,060 -12%
Interest in Associate $0 $500 $295 -41%
Investments (Net of derivative liabilities) $50,302 $56,163 $64,314 15%
Inventories (Tuition Curriculum Materials) $46 $27 $23 -15%
Accounts Receivables $1,386 $2,132 $2,194 3%
Other Receivables (include prepayments) $280 $573 $562 -2%
Cash & Deposits (Include Fixed Deposits) $4,455 $9,509 $12,603 33%
Total Assets- Operation $8,049  $11,973  $18,727  56%
Total Assets- Endowment $49,852  $58,129  $62,324  7%
Funds
General Fund – Operation Fund (include fair value reserve) $4,500 $7,900 $14,036 78%
Endowment Fund (include fair value reserve) $49,780 $58,066 $62,222 7%
Total Funds (include fair value reserve) $54,280  $65,966  $76,258  16%
Liabilities
Current Liabilities (Operation) $3,549 $4,073 $4,691 15%
Current Liabilities (Endowment) $72 $63 $102 62%
Total Liabilities and Funds- Operation $8,049 $11,973 $18,727 56%
Total Liabilities and Funds- Endowment $49,852 $58,129 $62,324 7%
OTHER INFORMATION 2014  2015  2016  % Increase/ (Decrease)
Donations/Grants and Sponsorships given to other Charities $0 $0 $0 0%
Total number of Employees (at year end) 87 98 84 -14%
Total Related Party Transactions ($’000) 0 0 65 100%
Total Employee Costs ($’000) $5,821 $7,127 $6,095 -14%
Ratio of Operating Reserve to Annual Operating Expenses 0.19  0.30  0.57  90%

Non-Financial Information (Last update: 30 June 2017)

Name of Organisation

CHINESE DEVELOPMENT ASSISTANCE COUNCIL (CDAC)

Address

CDAC BUILDING
65 TANJONG KATONG ROAD
SINGAPORE 436957

Charity Status

Charity Reg Number: 00883
Charity Reg Date: 23 July 1992
Constitution: Company (limited by guarantee)
Date of Establishment : 22 May 1992
Registration Number: 199202625K

Institution of Public Character (IPC) Status

Effective Date: 22 May 2017 to 21 May 2022

Key Employee

Mr Pok Cheng Chong, Executive Director

Auditors

KPMG LLP

Objectives of CDAC

Jointly set up by the Singapore Federation of Chinese Clan Associations (SFCCA) and Singapore Chinese Chamber of Commerce and Industry (SCCCI) in 1992, the Chinese Development Assistance Council (CDAC) is a non-profit self-help group for the Chinese community.

CDAC offers programmes and assistance schemes to help the less privileged in the community to maximise their potential and strive for social mobility through self-help and mutual support.

Mission and Vision

Our Mission: “To nurture and develop the potential of the Chinese community in contributing to the continued success of multi-racial Singapore”

Our Vision: Committed and Trusted Organisation, Empowered and Caring Community

Programmes/Activities

In 2016, CDAC had reached out to nearly 19,000 lower income households.

Students – offered more than 48,000 places in education and development programmes for needy students and assisted more than 8,000 students through bursary and subsidy schemes.

Workers – provided about 4,000 skills training awards for low-skilled, low-wage workers to enhance their employability and helped another 800 workers through job placement.

Families – supported more than 11,000 low-income families with financial and other assistance to strengthen their resilience and encourage them to become independent.

In 2017, CDAC will sharpen its focus on key strategic thrusts to help its target groups to develop self-reliance, support social mobility and promote mutual support. This will help to build a more inclusive and caring community.

CDAC will continue to enhance its outreach and engagement efforts to uplift more families through more collaborative efforts with network partners and volunteers.

As Singapore faces a rapidly ageing population, CDAC has also introduced a new Fulfilling Ageing Programme to serve the seniors. Activities including learning, health and wellness and senior volunteerism are planned to encourage active and meaningful ageing for the seniors.

Contact Information

Ms Gam Huey Yi, Stakeholders Communications
Ms Elaine Ee, Corporate Services
Telephone Number:       6841 4889
Fax Number:                      6841 4882
Email Address:                 
Website Address:            www.cdac.org.sg