Singapore Press Holdings Foundation Limited

SINGAPORE PRESS HOLDINGS FOUNDATION LIMITED

[2004/2005]

Incoming Receipts	2004 (S$’000)	2005 (S$’000)	Growth% 2004 vs 2005
Donations in Cash - Tax Deductible - Non-Tax Deductible¹	0 0	100 0	NM NA
Donations in Kind - Tax Deductible - Non-Tax Deductible	0 0	0 0	NA NA
Grants / Sponsorships	0	0	NA
Investment income	975,310	1,384,259	41.9
Investment gains	25,105	75,387	200.3
Others	0	0	NA
Total Income	1,000,415	1,459,746	45.9

Expenses	2004 (S$’000)	2005 (S$’000)	Growth% 2004 vs 2005
Direct Fund-raising Expenses²	0	0	NA
Charitable Activities Expenses³ - Local - Overseas	723,450 0	965,420 0	33.4 NA
Other Operating & Administration Expenses⁴	50,355	60,146	19.4
Others - Loss on re-measurement of an investment	0	279,000	NM
Total Expenditure	773,805	1,304,566	68.6
Excess (Deficit)	226,610	155,180	(31.5)

Balance Sheet	2004 (S$’000)	2005 (S$’000)	Growth% 2004 vs 2005
Assets
Land and Building	0	0	NA
Other Tangible Assets	0	0	NA
Investments	21,768,468	30,498,047	40.1
Inventories	0	0	NA
Accounts Receivable	103,527	98,689	(4.7)
Cash & Deposits	1,146,458	1,511,286	31.8
Others - Tax recoverable	85,086	176,341	107.3
Total Assets	23,103,539	32,284,363	39.7
Funds
Unrestricted Fund⁵ - Accumulated surplus - Fair value reserves	229,568 0	389,482 5,753,600	69.7 NM
Restricted Fund⁶	0	0	NA
Endowment Fund⁷	22,833,600	26,133,600	14.5
Total Funds	23,063,168	32,276,682	39.9
Liabilities
Long-term liabilities	0	0	NA
Current liabilities	40,371	7,681	(81.0)
Total liabilities	40,371	7,681	(81.0)
Total liabilities and funds	23,103,539	32,284,363	39.7

Other Information	2004	2005
Donations / Grants and Sponsorship given to other Charities (S$’000)	723,450	965,420
No. of Employees	0	0
Total Employee Costs (S$’000)	0	0
Total Related Party Transactions⁸ (S$'000)	2,752,000	3,260,000
Fund-raising efficiency⁹	NA	NA
Ratio of reserves to annual operating expenditure¹⁰	1 : 0.22	1 : 0.01

NM - Not Meaningful


¹	These include donations collected through flag days, donations that entail benefits to the donors and donations received for overseas purposes.
²	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, etc.
³	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 that enable these activities to be undertaken.
⁴	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 that contribute to future development of the charity.
⁵	These are generally unrestricted funds which the IPC is free to use for its programmes and operating costs e.g. General Fund.
⁶	These are special funds held by the IPC that can only be applied for specific purposes, e.g. Building Fund.
⁷	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.
⁸	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 the transactions should be disclosed. Refer to the Financial Reporting Standards for the full definition of Related Party Transactions.
⁹	This is expressed in the ratio of A to B, where A refers to Direct Fund-raising Expenses and sponsorships relating to fund-raising (where receipts have been issued by sponsors); and B refers to total donations received from fund-raising and sponsorships relating to fund-raising (where receipts have been issued by sponsors).
¹⁰	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.