Page 8 - NYAA Annual Report 2021

REVIEW OF FINANCIAL STATUS

The National Youth Achievement Award Association recorded a surplus of S$701,488 in 2021.
(Please see Appendix 7 for a summary of financial performance.)

For 2021, the Association received five donations, amounting to S$1,349,542. Unfortunately, due
to the covid-19 pandemic, where the pandemic hits corporate and businesses, we did not embark
on any fundraising efforts. (Please see Appendix 9 for a list of donors).

Audited Financial Statements for the Year ended 31 December 2021

Please visit our website for the full audited financial report from PricewaterhouseCoopers LLP.
(http://www.nyaa.org/finance). (Please see Appendix 8 for a summary of the online financial
statement.)

Fundraising Activity

In 2021, the Association did not carry out any fundraising events due to the COVID-19 pandemic
restrictions. Therefore, we will postpone until the pandemic eases. Compared to 2020, the
increased donations were due to the Bi-Centennial Fund's disbursement and the delayed Tote
Board's funding.

NYAA Investment Property

The NYAA owns an office space at 20 Kramat Lane #04-12 United House, Singapore 228773, which
housed the NYAA Secretariat from 1994 – to 2001. The NYAA rented out the office space to
generate income. As of 31 December 2021, the property is valued at S$1.6 million by an
independent valuation company, Realty International Associates Pte Ltd.
(Please see Appendix 10 for the valuation report.)

GOVERNANCE EVALUATION CHECKLIST

Disclosure and Transparency

The NYAA governing Council Members are not reimbursed for their services to the NYAA except
for two members who are also the full-time staff of the Association. They are:

• Mr James Soh Nga Kok, Secretary and Executive Director
• Ms Aileen Yap Leng Lee, Assistant Secretary and Deputy Executive Director

No governing Council members are involved in setting their remuneration.

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