Page 20 - NYAA FY2024
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Docusign Envelope ID: F067D57E-6E60-4F26-8227-97F17DC4DBB9
NATIONAL YOUTH ACHIEVEMENT AWARD ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2024
3. Income
(a) Revenue
2024 2023
$ $
Registration fees 143,795 135,201
Registration fees (Butterfly Award) 16,387 3,766
Projects income 113,746 2,805
Rental income – operating lease (Note 7) 38,400 31,487
312,328 173,259
(b) Other income
2024 2023
$ $
Government grant income 2,120 23,917
Others 9,375 9,292
11,495 33,209
Grant income of $2,120 (2023: $23,057) was recognised during the financial
year under the Progressive Wage Credit Scheme (the “PWCS”). The PWCS
is a temporary transitional wage support scheme to co-fund wage increases
of eligible resident employees from 2024 to 2026.
4. Employee compensation
2024 2023
$ $
Wages and salaries 630,206 565,663
Employer’s contribution to Central Provident Fund 51,362 41,808
Others 27,580 5,014
709,148 612,485
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