Financial & Non-Financial Information
Annual Report
2018
2019
2020
2021
Audited Report
2016
2017
2018
2019
2020
2021
Programme Highlights
2016/2017
2017/2018
Programmes Overview
CDAC Celebrating 30 Years of Communal Giving
Financial Information (Last update: 29 June 2022)
| INCOME AND EXPENSES | 2019 (S$’000) | 2020 (S$’000) | 2021 (S$’000) | % Increase/ (Decrease) |
| Receipts | ||||
| Donations – CPF Check-Off Scheme (Operation) | $25,694 | $26,134 | $27,458 | 5% |
| – Direct Donations (Operation) | $556 | $280 | $1,183 | >100% |
| – Direct Donations (Endowment) | $644 | $1,032 | $593 | -43% |
| Grants/Sponsorships (Government Agencies) (Operation) | $2,829 | $6,839 | $7,006 | 2% |
| Net Investment Income (Operation- Note 1) | $418 | $437 | $709 | 62% |
| Net Investment Income (Endowment- Note 1) | $4,386 | $2,775 | $2,930 | 6% |
| Other Income (Fee & others) (Operation) | $1,542 | $820 | $800 | -2% |
| Other Income (Fee & others) (Endowment) | $79 | $58 | $12 | -79% |
| Total Receipts- Operation | $31,039 | $34,510 | $37,156 | 8% |
| Total Receipts- Endowment | $5,109 | $3,865 | $3,535 | -9% |
| Expenses | ||||
| Direct Charitable Expenses (Local) | ||||
| – Operation Fund | $24,664 | $31,381 | $30,351 | -3% |
| – Endowment Fund | $0 | $0 | $0 | 0% |
| Operating/Administration Expenses/Others (Operation- Note 2) | $2,124 | $2,149 | $2,246 | 5% |
| Share of loss of associate (Operation- Note 3) | ($319) | ($559) | $0 | -100% |
| Total Expenses- Operation | $26,469 | $32,971 | $32,597 | -1% |
| Total Expenses- Endowment | $0 | $0 | $0 | 0% |
| Excess/(Deficit)- Operation | $4,570 | $1,539 | $4,559 | >100% |
| Excess/(Deficit)- Endowment | $5,109 | $3,865 | $3,535 | -9% |
Note 1: Fair value gain or loss are included in the computation of net investment income
Note 2: Include fee paid to CPF Board and Singapore Land Authority
Note 3: In October 2015, CDAC, together with Singapore Indian Development Association, Yayasan MENDAKI, and the Eurasian Association incorporated Self Help Groups Student Care Limited (“SHGSCL”) to jointly operate student care centres in schools that serve students from all races.
| BALANCE SHEET | 2019 (S$’000) | 2020 (S$’000) | 2021 (S$’000) | % Increase/ (Decrease) |
| Assets | ||||
| Tangible Assets (Property & Equipment) | $2,644 | $1,672 | $4,964 | >100% |
| Interest in Associate | $1,941 | $2,500 | $2,500 | 0% |
| Investments (Net of derivative liabilities) | $70,993 | $80,954 | $86,417 | 7% |
| Inventories (Tuition Curriculum Materials) | $17 | $10 | $0 | -100% |
| Accounts Receivables | $2,394 | $2,449 | $2,548 | 4% |
| Other Receivables (include prepayments) | $538 | $518 | $504 | -3% |
| Cash & Deposits (Include Fixed Deposits) | $26,941 | $22,730 | $23,994 | 6% |
| Total Assets- Operation | $35,255 | $36,640 | $43,264 | 18% |
| Total Assets- Endowment | $70,123 | $74,193 | $77,663 | 5% |
| Funds | ||||
| General Fund – Operation Fund (include fair value reserve) | $30,143 | $32,357 | $37,992 | 17% |
| Endowment Fund (include fair value reserve) | $70,153 | $74,018 | $77,553 | 5% |
| Total Funds (include fair value reserve) | $100,296 | $106,375 | $115,545 | 9% |
| Liabilities | ||||
| Non-current Liabilities (Operation) | $910 | $459 | $75 | -84% |
| Current Liabilities (Operation) | $4,202 | $3,824 | $5,197 | 36% |
| Current Liabilities (Endowment) | $60 | $175 | $110 | -37% |
| Total Liabilities and Funds- Operation | $35,255 | $36,640 | $43,264 | 18% |
| Total Liabilities and Funds- Endowment | $70,213 | $74,193 | $77,663 | 5% |
| OTHER INFORMATION | 2019 | 2020 | 2021 | % Increase/ (Decrease) |
| Donations/Grants and Sponsorships given to other Charities | $0 | $0 | $0 | 0% |
| Total number of Employees (at year end) | 97 | 97 | 100 | 3% |
| Total Related Party Transactions ($’000) | 0 | 0 | 0 | 0% |
| Total Employee Costs ($’000) | $7,410 | $7,519 | $8,555 | 14% |
| Ratio of Operating Reserve to Annual Operating Expenses | 1.14 | 0.98 | 1.17 | 19% |
Non-Financial Information (Last update: 29 June 2022)
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 2022 to 21 May 2027
Key Employee
Mr Tan Yap Kin, Executive Director (Appointed on 29 June 2022)
Auditors
KPMG LLP
Objectives of CDAC
Jointly set up by the Singapore Chinese Chamber of Commerce and Industry (SCCCI) and Singapore Federation of Chinese Clan Associations (SFCCA) 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 2021, CDAC reached out to 17,700 lower income households through educational and development programmes, bursary and subsidy schemes for needy students, fulfilling ageing activities for seniors and financial assistance and employment support for families. Please refer to our Annual Report 2021 for more information on CDAC programmes and achievements.
In 2022, CDAC will continue to support students and families through broad-based programmes to help them strive for upward social mobility. At the same time, CDAC will also focus on deepening help for the more vulnerable families by providing holistic support to help them achieve self-reliance.
CDAC will continue to enhance its outreach and engagement efforts to uplift more families through more collaborative efforts with network partners and volunteers.
Governance
CDAC is committed to a high standard of compliance with accounting, financial reporting, internal controls, auditing requirements and all applicable laws. We have a whistle blowing policy in place to provide an avenue for employees and external parties to raise concerns and offer them an assurance that they will be protected from possible reprisals for whistle blowing in good faith. Please click here for the CDAC Whistle Blowing Policy.
Contact Information
Ms Elaine Ee, Corporate Services
Telephone Number: 6841 4889
Email Address:
Web-site Address: www.cdac.org.sg
