annual report 2016 / 2017

DONORS & SUPPORTERS

The Ngee Ann Kongsi, a philanthropic foundation, contributed $8.71 million to Ngee Ann Polytechnic in September 2016. The Kongsi's contribution will be used to support local and overseas student development programmes, and nurture student entrepreneurship.

We would also like to thank the following individuals and organisations for their donations of bursaries, scholarships and student aid grants.

• Agency for Science, Technology and Research

• Centre for Strategic Infocomm Technologies

• Chio Lim & Associates

• Crimsonlogic Pte Ltd

• Dentsu Aegis Network Pte Ltd

• Dr Seow Onn Choong

• Dr Tan Eng Liang

• Early Childhood Development Agency

• Keppel Land Ltd

• Lee Foundation

• Lien Foundation

• Lin Jo Yan Scholarship Fund Management Committee

• Litewell Engineering Pte Ltd

• M1 Limited

• Management Development Institute of Singapore

• Ministry of Education

• Ministry of Social and Family Development

• Motorola Solutions Foundation

• Mr Choo Chiau Beng

• Mr Koh Eng Pin

• Mr Lee Nam Kwang

• Mr Loke Yuen Piew

• Mr Wang Long

• Ms Koh Sauk Siang

• Ms Koh Sauk Tai

• Mrs Sharon Tay

• Ms Yu Chuan Teh

• Multiplex Control & Engineering Services Pte Ltd

• Ngee Ann Alumni

• Ngee Ann Polytechnic Consumer Cooperative Society Limited

• Ngee Ann Polytechnic Students' Union

• PAP Community Foundation

• Professor Ho Yew Kee

• Public Utilities Board

• Richard Lee Memorial Fund

• Roche Singapore Technical Operations

• SAA Global Education Centre Pte Ltd

• SATA CommHealth

• Singapore Buddhist Lodge

• Singapore Telecommunications Limited

• Tan Chin Tuan Foundation

• Teckwah Logistics Pte Ltd

• The Copyright Licensing & Administration Society of Singapore

• The Estate of Dr Phay Seng Whatt

• The Hongkong and Shanghai Banking Corporation

• The Kuok Foundation

• The Late Ms Chan Lai Yee

• The Late Mr KC Lee

• The Late Mr Tan Joo Kee

• The Late Mr Ted De Ponti

• The Late Ms Renee Chew Bee Neo

• The Liu Yin Soon Trust Fund

• The Shaw Foundation Pte Ltd

• The Wan Boo Sow Family

• Toh Kian Chui Foundation

• Wee Hoe Cheng Chemicals Pte Ltd

NGEE ANN POLYTECHNIC FUND (NP FUND)

(IPC Registration Number : IPC000541 UEN: T08CC3009A Registered Address : 535 Clementi Road Singapore 599489)

Background

Ngee Ann Polytechnic Fund (NP Fund) was established on 1 April 2003 as a member of the Education Central Fund of the Ministry of Education. Under this membership, the Fund is allowed to issue tax deductible receipts to donors. Donations received by Ngee Ann Polytechnic are channelled to the Fund.

Objectives of the Fund

The objectives of the Fund are as follows:

• to receive gifts and donations for the advancement of education, including those that are for the setting up of Endowment Funds, the principal amounts of which will not be used;

• to provide financial assistance through bursaries and grants to enable needy and deserving students to pursue their studies at the Polytechnic;

• to recognise the achievements of outstanding Polytechnic students and graduates through award of scholarships and prizes;

• to encourage research and development and to provide for staff development so as to keep abreast of changing technologies in industry and commerce;

• to provide funds for the welfare and other social/educational activities of the students and staff of the Polytechnic;

• to promote the Polytechnic as a tertiary institution and a centre for polytechnic education in Singapore; and

• to provide for the construction and improvement to the buildings and facilities of the Polytechnic.

Management Committee

The Management Committee and Treasurer of NP fund are our Council members and Deputy Director Finance respectively. Their appointment of the Management Committee and the Treasurer of NP Fund shall follow the term of appointment of NP’s Council. The Management Committee members are eligible for re-appointment after the term of their current re-appointment. However, the Treasurer will not be re-appointed. The position will be rotated between the Deputy Director Finance and the Chief Financial Officer.

The Management Committee and the Treasurer are not remunerated for their services rendered to NP Fund.

Programmes and Activities for FY2016/2017

During the year, the key programmes and activities include the following:

• disbursement of scholarships, bursaries, grants and awards;

• support of student development programmes (Award Programmes¹ and Global Entrepreneurial Internship Programme²) and the provision of shuttle bus services; and

• co-funding of collaborative projects with philanthropic organisations such as the Temasek Foundation and the Lien Foundation to support social causes.

Conflict of Interest Policy

The Management Committee of the Fund and key management personnel of the Polytechnic make yearly confirmation on related party transactions. For transactions where they are in a position of conflict of interests, they will declare their interests and abstain from any decision making.

In line with disclosure requirements by the Charity Council, the Governance Evaluation Checklist disclosing the extent of its compliance with Code can be found at the Charity Portal website https://www.charities.gov.sg.

Audited Financial Statements

The financial statements of NP Fund can be found in the charity portal website: https://www.charities.gov.sg/Pages/Home.aspx

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¹Award Programmes consist of The Christieara Programme Overseas Merit Fellowship, The Academic Overseas Programme – Overseas Merit Award, Social Leadership Challenge and Overseas Innovation Challenge, which catered to students of different peaks of excellence.

² Global Entrepreneurial Internship Programme provides opportunity for budding entrepreneurial students to have internships in start-ups located in key entrepreneurial hubs of the world. Students learn how start-ups are run and get to put their domain skills into practice.