NKF sees deficit of S$900,000, first time in 10 years

[R4g3]

SINGAPORE: For the first time in a decade, NKF is in the red. In its latest fiscal year ending June 2009, NKF had a deficit of S$900,000.

The lack of donations and a dip in investment income were cited as reasons for the deficit.

S$18.5 million were received in donations, a 26 percent or S$6.5 million, decrease from the previous fiscal year.

Investment income dipped by 97.5 per cent from S$3 million to S$80,000.

NKF hopes donors will return with the end of the recession and will nurture existing donors.

Every year, NKF has a net increase of 150 patients.

But expenses were up with the number of patients increasing by 7.3 per cent to hit 2,574.

Subsidies and assistance also rose by 9.4 per cent to S$22.3 million.

For this financial year, it's setting aside S$24.5 million for assistance aid and subsidies.

Its reserves is currently at S$270 million.

NKF said it's able to cope and will use the surplus from the previous years to tide over the deficit.

Despite this, it's still planning to build a new dialysis centre in Jurong.

$900k? No big deal, that's only 1 1/2 peanut.

 

[cooleo]

>>Investment income dipped by 97.5 per cent from S$3 million to S$80,000<<

Buy 4D for an entire year might perform better!

 

[tonychat]

i suggest they closed it down. reputation is very important and if it's gone, it's gone. That is why it is important not to behave sinkiely. or else you will be like NKF..

 

[po2wq]

who's running nkf now? ...

 

[nkfnkfnkf]

Thank you PAP!

Thank you TT Durai - A PAP Member!

Thank you donation suckers!



It will be another grave mistake to trust them again ever.

 

[drifter]

well done singaporean ..you have grown up .

 

[hairylee]

That's only Temasek half a day investment.

 

[jim007jimmyboy]

$900k? No big deal, that's only 1 1/2 peanut.

yeah lor tt wat i said PEANUTS!!​

 

[chorut]

peanuts. NKF needs Turai.

 

[takcheksian]

Why is a charity running surpluses every year?

These fuckers have $270m in savings and $0.9m is not even 2 peanuts. They can afford to run deficits for 300 years.

Don't give to the PAPpies!

well done singaporean ..you have grown up .

 

[Watchman]

Seems TT Durai runs it with more flair than civil sepents Gerald EE.
When government starts facing falling revernue they start witch-hunting every agencies .

<iframe src="http://www.nkfs.org/index.php?option=com_content&task=blogcategory&id=28&Itemid=85" height="888" width="1200">

 

[Watchman]

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

 

[makapaaa]

Why not ask for a donation from the CB Familee, which has NO REGRET whatsoever losing by the hundreds of billions of dollars?

​

 

[SIFU]

i suggest they closed it down. reputation is very important and if it's gone, it's gone. That is why it is important not to behave sinkiely. or else you will be like NKF..

CB Kia tonychat,

yes sir, they will take your suggestion seriously... afterall u are a VIP (very important pimp) working as an expatraite in thailand..

 

[SotongMee]

No need to TT Durai back to the seat, NKF already got a few
peanut earners on its Board.

Suffer S$0.9mil losses only kpcb (kow-peh-cow-bu), cry father
cry mother makes people wondered what happened to the reserves?

peanuts. NKF needs Turai.