Steven Tsao - Perfectionism and Eating Disorder: Personal and Professional Perspectives
Tsao Foundation Snapshot 2011: Features, Figures and ...
Transcript of Tsao Foundation Snapshot 2011: Features, Figures and ...
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TSAO FOUNDATION SNAPSHOT 2011
Tsao Foundation Snapshot 2011:
Features, Figures and Financials
298 Tiong Bahru Road #15-01/06 Central Plaza Singapore 168730 Tel: 6593 9500 Fax: 6276 7128 www.tsaofoundation.org
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Contents
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Vision, Mission and Values
3
Founder, Mrs Tsao Ng Yu Shun
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Progress Journals
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Event Highlights
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Corporate Information
12
Balance Sheet
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Statement of Comprehensive Income
14
Statement of Changes in Funds
15
Statement of Cash Flows
16
Reserve Policy
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Our vision is to foster a society for all ages that supports active ageing, values the contributions of older people, and provides
for a secure old age. We foster this vision by advancing services, skills and knowledge of individuals and communities in
eldercare; facilitating older people’s participation in society; and promoting their views for policy planning.
We are dedicated to optimising the experience of ageing and enhancing the quality of life of older persons through our
community health and social services, promoting successful ageing, and pioneering new approaches to ageing and eldercare
throughout Singapore and the region. We aim to be a catalyst for constructive change by addressing population ageing and
eldercare issues at the policy level. We actively pursue our mission by focusing our work on these three pillars of eldercare:
Service, Education and Collaboration.
We are motivated by the spirit of innovation to find ways to improve the eldercare landscape and the quality of life for older
people. In the pursuit of excellence, we set high professional standards for ourselves and for the services we provide to older
people, their caregivers, colleagues and partners. As a catalyst for constructive change, we actively promote scholarly research
on ageing issues; invite distinguished scholars to share their expertise; and support policy planners with regular feedback,
dialogue and recommendations for possible solutions.
At age 86, in honour of her father and father-in-law, Mrs Tsao Ng Yu Shun established the Tsao Foundation in Singapore to
enhance the quality of life of the older person. Her concern for the seniors who can neither access nor afford healthcare was
matched by her insight into the common aspirations of every person to age at home, in the community among friends and
family, and to have information, choice and the exercise of self-determination.
Over the last 17 years, Tsao Foundation and its Hua Mei community-based health and social services have worked towards
addressing those concerns and to support ageing in place, under the leadership of Mrs Tsao Ng Yu Shun’s grand-daughter, Dr
Mary Ann Tsao.
For her service and dedication to seniors, Mrs. Tsao Ng Yu Shun at age 94, was honoured at a global conference sponsored by
the United Nations (UN) in Montreal, in September 1999. The occasion was the first UN Year of the Older Person.
Mrs. Tsao Ng Yu Shun passed away in 2001, but her vision and values continue to guide the Foundation, which has earned a
reputation for distinction in the eldercare industry for innovation, practice and collaboration.
Vision
Mission
Values
Founder, Mrs Tsao Ng Yu Shun
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Hua Mei Centre for Successful Ageing (HMCSA)
HMCSA is an integrated collective of the various community-based aged care models which Tsao Foundation has
pioneered and developed since 1993. Delivering a holistic, person-centred continuum of care, its multi-disciplinary
medical and psycho-social services promote ageing in the community and successful ageing to support health
promotion, disease management, social engagement and emotional wellbeing.
Hua Mei Clinic (HMC)
HMC provides a range of healthcare services for community-dwelling individuals aged 40 years and above. To reflect its life course
approach to health management, the clinic changed its name from the previous, 'Hua Mei Seniors Clinic'. HMC is distinguished
by its integrated, multi-disciplinary practice, elder-friendly service and strong emphasis on health promotion and on maintaining
the person’s functionality in the community where he lives.
In 2011, 34% of HMC's patients were aged between 40-59 years old, and 33% between 60-74 years. The Clinic served 277
patients and they made a total of 3232 visits. Around 77% of the visits were for follow-up of chronic medical conditions such
as hypertension, diabetes and cardiovascular problems. 63 % of the patients were female, in part reflecting the longer life
expectancy of females (85 years) as opposed to males (79 years).
HMC strives for resource efficiency, utilising the most qualified, least expensive resource for service delivery. Towards this
end, in 2011, its nurses trained to provide health education, and to carry out routine assessment for functional impairment in
geriatric patients. Improved health knowledge empowers patients and enables them to make the necessary lifestyle changes to
better manage chronic diseases. Similarly, with routine assessment for functional impairment, potentially disabling problems like
visual impairment causing falls can be picked up early and managed appropriately.
In January 2010, Parliament passed the amendment bill to the Medical Registration Act, initiating the formation of a Family
Physician Register. The Register seeks to recognize family medicine as a discipline with a unique body of skills and knowledge.
It also signals the Ministry of Health's (MOH) commitment to support the development of family medicine as a discipline on an
equal footing with other specialist disciplines. Besides a post-graduate diploma in Geriatric Medicine, HMC's principal physician,
Dr Tan Sai Tiang, is also a member of the Family Physician Register.
Hua Mei Acupuncture and TCM Centre (HMAC)
HMAC taps on the time-honoured tradition of Chinese medical practices to offer a complementary option within the holistic life course
approach to health promotion upheld at HMCSA.
Operating at two locations - Block 128 Bukit Merah and 15th floor, Central Plaza - HMAC had a combined clinic attendance of
7,651 visits in 2011, an 11.3 % increase over 2010. The total number of herbal prescriptions rose by 28.6% to 2,156, in part
attributable to the increase in infertility cases referred to the Clinic.
Another significant development in the year was HMAC's participation in the Health Promotion Board's thrust to improve
women's health and prevent sexually transmitted disease (STD). Working through the Hua Mei Academy of Training (HMTA),
the Clinic delivered 7 talks to 'heartlanders' on women’s health issues and STD, and introduced them to the role of traditional
Chinese medicine in the management of women’s health.
For greater efficiency, HMAC upgraded its IT software to improve electronic data management in August 2011.
Progress Journals
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Hua Mei Mobile Clinic (HMMC)
HMMC provides team-managed multi-disciplinary healthcare to homebound and at-risk elders in the community.
In addition to caring for the elders' medical and nursing needs, HMMC supports their care partners through training and health
education, and provides linkages for the elders and their families to social resources such as regular donations of patient’s
consumables like adult diapers and nutritional feeds. The elders referred to the Clinic generally have multiple medical
problems, and are frail and at risk. HMMC strives to optimise their health within their individual context, and most of them
eventually become clinically stable and comfortably supported at home.
The patient intake is fairly consistent over the years and in 2011, and HMMC served more than 130 homebound elders. The
patient profile cuts across various demographics. A substantial number of elders comes from the lower income strata,
qualifying for maximum government subsidy.
To provide for another set of unmet needs, from Oct 2011, HMMC started an End of Life Care Programme and an Integrated
Home Care Programme for elders, with funding support from the Tote Board. HMMC also held its inaugural Evening of
Remembrance in tribute to the elders who had passed on in the past year. The event created a sacred space for their families
and caregivers, together with the Clinic's staff, to take a moment to mindfully remember and honour those who have gone on,
and to celebrate their lives through the sharing of memories and personal anecdotes. It was one way for HMMC to support
caregivers through a challenging period of their lives.
HMMC also had the privilege of coordinating the visit of Prof Timothy Quill to present the subject of ‘Palliative Care Systems
in an Ageing Population’. Prof Quill hails from New York, USA, and is a recognised authority on end-of-life care. He graciously
shared his thoughts and knowledge with many aged care professionals who benefited from his visit.
Hua Mei Care Management (HMCM)
HMCM provides vital service linkages and healthcare monitoring to community-dwelling elders with multiple social and medical needs.
2011 saw HMCM moving into its second year of operation under the Assessment for Enabling (ACE) model of care
management. The service team continued to comprise 1.5 nurse care manager, 1 social work care manager, 1 assistant care
manager and 1 admin support staff.
The total number of clients seen for 2011 was 155. The profile of these clients remained mainly unchanged from the previous
year’s -
80% of the elders were aged 70 and above
76% were without any designated caregiver, either single, divorced or widowed
65% suffered from 4 or more medical conditions
18% were on public assistance, but for the other 82%, financial sustainability was often an issue as they frequently could
not qualify for aid under the very stringent government criteria
The percentage of clients with families doubled from 8% in 2010 to 16% in 2011, while the number on public assistance fell by
9%.
Within the group of socially disadvantaged, medically complex elders served by HMCM, these persons tend to have the highest
service need and weakest safety net:
Single elders living with dementia or psychiatric conditions
Elders with multiple chronic medical conditions, sometimes not well managed
Elders with very poor social support or dysfunctional family systems
Elders with psycho-emotional issues manifest as psychosomatic symptoms
Elders who themselves are caregivers of children with psychiatric or intellectually challenged conditions
Caregivers who are themselves living with psychiatric conditions
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The challenges in HMCM are in working with many clients having the above profile in a fragmented service system where
access to medical records are difficult; transitions from hospital to community are less than well planned; access to necessary
services require navigating highly bureaucratic and stringent admission criteria; and high service demand far outstrips its supply.
Moving forward, HMCM will continue to:
Engage and develop a working relationship with other relevant community health and social care services such as the
Home Nursing Foundation, Senior Activity Centres , and Home Help Services towards building a sustainable care
provision system for clients, and
Engage and develop a working relationship with the relevant hospital and community physicians to build a sustainable
primary healthcare system for the clients
Hua Mei Counselling & Social Work Practice (HMCSW)
HMCSW promotes the psycho-emotional and social wellness of older persons and their caregivers, deepening the dimension of holistic
care over the life course promoted by the Hua Mei Centre of Successful Ageing.
In 2011, HMCSW progressed to Phase II of its Counselling and Coaching Programme with renewed funding from the National
Council of Social Services (NCSS). The scope of the service was enhanced with the development of a para-counselling
programme.
The para-counselling component was designed to complement HMCSW’s professional counselling services - to provide
emotional support and screening for emotional distress for clients who have been discharged from the counselling service, but
who are assessed to need some degree of emotional support till complete healing has taken place. Para-counsellors also
conduct life review sessions for the elders, helping them to reaffirm their strength and contributions. To date, there have been
28 para-counsellors trained and 28 clients referred for the service.
Over the year, a total of 122 elders were referred for individual counselling; and 117 participated in coaching groups on
emotional management and inter-generational relationship enhancement. There was a slight increase in the number of
caregivers coming forward for counselling. Eleven outreach sessions were conducted with external partners to introduce
counselling and HMCSW’s services.
71.3% of the individual counselling was conducted primarily at the home of the clients, with the rest held on HMCSA’s
premises. Four topics dominate the presenting issues of the clients: relationship issues with families; depression; management
of emotions such as anxiety and stress; grief and loss over death, illness and functional decline..
The research project attached to Phase 1 of the Counselling and Coaching Programme to better understand the perception
and effectiveness of counselling for an elderly population was completed. The report, which was based on in-depth interviews
with 41 of HMCSW’s counselling clients, has been shared with MCYS and NCSS which funded the study.
The research found that the counseling intervention helped the clients in -
Providing them support during difficult, challenging times
Validating their choices and normalizing their efforts to care for their own personal needs
Gaining a direction during crisis
Exploring and gaining new perspectives to their issues
Achieving emotional well-being to deep-seated pain; and
Coming to terms with unresolved issues with their losses
All in, the second phase of the counselling and coaching programme enabled the set-up of a more continuous process of
psycho-emotional care through the development of a para-counselling service to complement the work of the counselors, and
also extended its reach to a wider population.
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Hua Mei Elder-centred Programme of Inclusive Comprehensive Care (EPICC)
Hua Mei EPICC, which commenced in August 2011, brings to frail elders the health and psycho-social care that they need as they age in
place, in the comfort of their own homes.
Hua Mei EPICC is the latest addition in the continuum of care over the life stages provided by the Hua Mei Centre for
Successful Ageing.
EPICC is a community-based, team-managed primary health and psycho-social care programme that supports the wish of older
persons to continue living at home, in spite of their multiple chronic medical conditions, physical frailty and weak family and
social support network. The programme is aimed at enabling the elders to optimise their health management, independence
and well-being so that they can continue to enjoy life to its fullest; and to provide for the family, a strong health and
psycho-social support system that would enable them to enjoy and cultivate the relationship they have with the elders in their
lives.
With the well- being of the elder and his family as the primary focus, the operating principle of EPICC is person-centred, team-
managed care. The team comprises a physician, nurse, social worker, physiotherapist, occupational therapist, day centre
manager, programme assistants, administrative assistant, and driver. Medical and psycho-social services are customised to the
participant’s individual needs so that each person receives no more and no less than what he needs.
The Hua Mei model is based on the widely accepted American-originated Program of All-inclusive Care for the Elderly (PACE)
(http://www.npaonline.org/website/article.asp?id=12). Indeed, On Lok PACE in San Francisco had been an inspiration to the
Foundation’s work to support ageing in the community for the last 19 years.
Admission to EPICC is not restricted to persons who have a dedicated caregiver at home. Although the number of participants
is relatively small in this demonstration project, work is extremely demanding for the profile of participants. At end May 2012,
of 34 participants -
15 or 45% are single elderly who live on their own or with a flat mate who is equally senior
6 or 19% have families with very frail or dysfunctional support system, such as an elderly spouse or amid prevalent mental
health issues of family members
12 or 36% live with ‘regular’ supportive, albeit stressed, family caregivers
The majority - 28 participants - are homebound and need some help with personal hygiene and instrumental activities of daily
living such as grocery shopping, cooking, and house cleaning. All participants need some form of walking aid or are wheel-chair
bound. All suffer from multiple chronic medical diseases, including early dementia – at an average of 5 medical conditions per
person – and need frequent and intensive monitoring of their conditions. Often, the elders were typed as ‘frequent flyers’ in
their numerous and recurring hospital admissions. In short, almost all the participants would likely have ended up in a nursing
home if not for a programme like EPICC.
Incorporated in EPICC is an ambitious randomised controlled trial, undertaken in partnership with Duke-NUS Medical School.
It will assess such significant programme outcomes as delayed nursing home placement, reduced accident and emergency visits
to the hospital, improved quality of life, and lesser caregiver stress. Anecdotally, what has been observed of the EPICC
participants has turned up many positive and heart-warming results to inspire the effort it requires.
Hua Mei Training Academy
The Hua Mei Training Academy (HMTA) is a dedicated training provider in community-based gerontological skills. It offers entry-level and
professional development training to meet the urgent need for capacity-building in the aged care sector. To support personal growth, it also
conducts talks and training in caregiving, life skills and health education.
In 2011, HTMA provided training in eldercare skills to 9,069 participants. Included in the cohort are 7,652 participants in
community-based training; 1,417 corporate workshop participants; and 41 aspiring entrants in the community and social
services sector. Compared to 2010, community-based training increased by more than 118%.
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In terms of programmes and partnerships, in 2011, HMTA:
Developed for SingHealth the “Age-Friendly Initiative” handbook for senior management, process owners and frontline
staff, and conducted 18 workshops on “Age Sensitisation” for 486 of their staff practitioners;
Conducted 275 hours of training for the Health Promotion Board’s Senior Health Ambassador Programme (a peer
mentoring programme which engages older persons as volunteers and equips them with the skills to improve their own
health and that of their peers), resulting in 500 people signing up as Senior Health Ambassadors, against the original
target of 280;
Partnered with Civil Service College to conduct 16 workshops for 333 civil servants in health promotion and
management, pre-retirement preparation, and caregiving;
Conducted 41 workshops for 1,417 staff in private and public organisations on topics related to eldercare, health and
ageing issues;
Obtained job placement for 70% of the 41 participants who completed its Workforce Skill Qualification training;
Conducted 2 skill-enhancement workshops for frontline aged care workers, and 2 gerontological and 1 dementia
workshop for the Social Service Training Institute.
Last but not least, after passing through a vigorous test of its standards and practices, HMTA successfully obtained a 6-year
registration under the Enhanced Registration Framework administered by the Council of Private Education, which regulates
private education institutions operating in and from Singapore.
International Longevity Centre Singapore (ILC-Singapore)
The International Longevity Centre Singapore strives to promote the wellbeing of older people, especially through implementing community
programmes, and undertaking inter-disciplinary research and forging collaborations which inform policy, facilitate policy-action translation,
and promote quality, effective practice in Singapore and the region.
ILC Singapore is a member of the prestigious International Longevity Centre Global Alliance, a multi-national consortium which
addresses longevity and population ageing through research and action. Within Tsao Foundation, when ILC Singapore was
established in late 2009, it absorbed the role of the previous Inter-Agency Collaboration division.
One of the most successful programmes under its wing is the Citi-Tsao Financial Education for Mature Women. Piloted in April
2008, it addresses the financial vulnerability of women, who have a longer life expectancy than men. Its specific target is to
reach 1,400 women aged between 40 and 60 years old, with monthly household incomes ranging from $1,500 to $3,500, to
empower them with the financial skills and self-confidence to take charge of their money and develop a clear financial plan for
their own old age. Total participation in the programme grew from 334 individuals in 2009 to 741 in 2010, and 1,126 by 2011.
Other activities and events organised under this programme engaged 1,157 women in 2011.
ILC Singapore also participates in the Civil Service College Strategic LEAD Programme to enhance the knowledge and
appreciation of ageing and its issues among civil servants from various ministries and government agencies in Singapore.
On the international arena, ILC Singapore encouraged the development of the Health Working Group of the HelpAge Asia
Pacific network by leading, facilitating and supporting the germination of a regional pilot project on self-care of older people in
four Asian countries. With 'SCOPE' as its acronym, this project holds great promise for the older people it serves and the
cross-border partnerships it involves, with implications for policy-making in the future.
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Event Highlights Date Events Descriptions
18 Feb Talk on “Meditation as
medicine: What neuro-
science has to teach us
about health and happi-
ness.”
Dr Patricia A. Bloom, MD, Associate Professor of Geriatrics at Mount Sinai School of
Medicine, and Director of Integrative Health for the Martha Stewart Center for
Living / Coffey Geriatrics Practice at Mount Sinai Medical Center, was in Singapore at
the invitation of the Tsao Foundation. She presented ‘Mindfulness-based Stress
Reduction’, an evidence-based method to help patients cope more effectively with
stress, pain, and illness, and to engage more fully in improving their health and quality
of life.
19 Feb UWC-Tsao Foundation
Chinese New Year
(CNY) Lunch
The CNY event is organised annually by the Tsao Foundation and UWCSEA (United
World College South East Asia) for around 100 elderly clients and family caregivers
in the care of the Hua Mei Clinical Services. The lunch aims to promote
inter-generational relationship and cultural bonding between the older people and
the K1 & K2 students at UWCSEA School of Infants.
The lunch was held at Holiday Inn Atrium with song and dance performances by
UWCSEA students, Foundation staff, and other volunteers.
25 Feb Talk on “Evidence for a
We s t - m e e t s - E a s t ”
approach in medicine
The Tsao Foundation invited Dr Brian Berman, Professor of Family Medicine and the
founder and director of the University of Maryland Center for Integrative Medicine,
the first centre for research, education and clinical care in complementary and
integrative medicine based in the U.S.A. for a one-day talk to share studies and
evidences on Traditional Chinese Medicine.
30 Apr Queen Elizabeth II Cup
2011
For the fourth consecutive year, Tsao Foundation partnered with the Singapore Turf
Club to raise $200,000 for the frail and homebound elders under the care of the Hua
Mei Mobile Clinic, at the annual Queen Elizabeth II Cup. The 2010 racing event also
celebrated the Royal Wedding of Prince William and Miss Kate Middleton, with
which date it coincided.
19 May Professional forum:
“Age - fr iendlyCit ies :
Where does Singapore
stand?”
As part of its visiting expert programme, the International Longevity Centre
Singapore hosted the visit of Dr Alex Kalache, former director of the World Health
Organization, Department of Ageing and Life Course (WHO-ALC), to speak on the
constituents of an age-friendly city, from housing, transportation, community health
and support services to opportunities for social participation, etc.
11 June Palliative Care Systems
in an Ageing Population
Symposium
The Symposium organized by Tsao Foundation had, as its keynote speaker, Prof
Timothy E. Quill, M.D. the renowned American expert on end-of-life care. He is a
Professor of Medicine, Psychiatry, and Medical Humanities at the University of
Rochester School of Medicine and Dentistry. He is also the Director of the Center
for Ethics, Humanities and Palliative Care and a Board certified palliative care
consultant in Rochester, New York.
The symposium drew around 150 professionals from the eldercare sector, hospitals,
government agencies, and voluntary welfare organisations.
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16 Aug Launch of International
Longevity Centre Sin-
gapore (ILC-Singapore)
and Project SCOPE
(Self-Care on Health
for Older Persons in
Singapore)
The Tsao Foundation officially launched its new initiative - the International Longevity
Centre Singapore (a member of the ILC Global Alliance) - that aims to drive
constructive change in how society approaches and responds to ageing through
promoting the wellbeing of older people and contributing to national development
through supporting policy, practice, and capacity-building by connecting the dots
between all stakeholders through relevant platforms.
At the launch, ILC-Singapore introduced its inaugural programme, Project SCOPE, a
first-of-its-kind community development programme that aims to improve older
people’s capability and capacity for self-care.
11 Aug Hua Mei Elder-centred
Programme of Inclusive
Comprehensive Care
(EPICC)
Hua Mei EPICC is a community-based, team managed primary health and psycho-
social care programme that delivers person-centered multi-disciplinary care to elders
to help them optimize their health and wellness in coping with multiple chronic
medical conditions and weak social support.
The efficacy of the service model is under study in a 3-year randomised controlled
trial, with the partnership of Duke-NUS. Key indicators of model efficacy include
reduced A&E admissions and caregivers stress.
30 Sep IMC-Tsao Foundation
Charity Golf 2011
With the generous support of IMC Group and other donors, the annual Charity Golf
event raised $300,000 for the benefit of the elders in the care of the Foundation-
initiated community-based health and social service programmes – the Hua Mei Clinic
and Hua Mei Care Management. The Guest-of-Honour was Mr Lim Boon Heng,
Chairman of NTUC Eldercare Co-operative Ltd, and Special Advisor to Chairman,
People’s Association Board.
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INSTRUMENT SETTING UP THE FOUNDATION
Memorandum and Articles of Association of Tsao Foundation (public company limited by guarantee and not having a share capital)
UNIQUE ENTITY NUMBER OF THE FOUNDATION
199302114W
INSTITUTION OF A PUBLIC CHARACTER
HEF 0078/G
REGISTERED ADDRESS
298 Tiong Bahru Road #15-01/06 Central Plaza Singapore 168730
BOARD OF DIRECTORS
AUDIT COMMITTEE
KEY POSITION HOLDERS
Tan Peck Sim Deputy CEO (from 01/06/2010)
PRINCIPAL BANKERS
DBS Bank Limited United Overseas Bank Limited
INDEPENDENT AUDITORS
Lo Hock Ling & Co. Public Accountants and Certified Public Accountants
Corporate Information
Franklin Tsao Real Estate (from 07/04/1993)
IMC Landcentral Group Inc
Mary Ann Tsao President (from 07/04/1993)
Tsao Foundation
Robert Chow Certified Neurological Surgeon (from 07/04/1993)
Retired
Phillip Tan Director (from 24/06/2000)
EQ Insurance Co Ltd
Chavalit Tsao Chairman (from 07/04/1993)
IMC PanAsia Alliance Group
Er Kwong Wah Executive Director (from 07/09/2006)
East Asia Institute of Management
Shabnam Melwani-Reis Director (from 30/10/2007)
Jay Gee Melawani Group
Locknie Hsu Associate Professor (from 09/04/2008)
Singapore Management University
Goh Lee Gan Associate Professor (from 23/10/2009)
Yong Loo Lin School of Medicine, NUS
Ee Chye Hua Consultant Geriatrician (from 23/09/2010)
Elder Care & Health (ECH) Consultancy
Er Kwong Wah Executive Director (from 01/12/2008)
East Asia Institute of Management
Yuelin Yang Transport Logisitcs (from 01/12/2008)
IMC Industries Group
Tan Bee Nah Audit Partner (from 03/10/2011)
PricewaterhouseCoopers LLP, Singapore
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TSAO FOUNDATION
(Incorporated in the Republic of Singapore and Limited by Guarantee)
Statement of Financial Position as at 31 December 2011
2011 2010
S$ S$
ASSETS
Non-Current Assets
Property, plant and equipment 584,351 761,850
Total Non-Current Assets 584,351 761,850
Current Assets
Inventories 27,500 28,450
Receivables 619,145 522,258
Fixed deposits with financial institutions 2,044,720 844,394
Cash and bank balances 2,687,251 3,306,206
Total Current Assets 5,378,616 4,701,308
Total Assets 5,962,967 5,463,158
FUNDS, RESERVE AND LIABILITIES
Funds and Reserve
Accumulated funds 4,326,433 3,698,410
Training Fund 225,000 356,000
Scholarship fund 144,729 144,440
Total Funds and Reserve 4,696,162 4,198,850
Non-Current Liabilities
Deferred capital grant 278,405 409,793
Provision for restoration costs 233,030 233,030
Total Non-Current Liabilities 511,435 642,823
Current Liabilities
Deferred grant 44,096 44,096
Payables 711,274 577,389
Total Current Liabilities 755,370 621,485
Total Liabilities 1,266,805 1,264,308
Total funds, reserve and liabilities 5,962,967 5,463,158
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TSAO FOUNDATION
(Incorporated in the Republic of Singapore and Limited by Guarantee)
Statement of Comprehensive Income for the year ended 31 December 2011
2011 2010
S$ S$
Income
Donations and fund raising income 2,248,803 2,804,916
Grants/fundings/subsidies Income 2,633,560 2,614,551
Consultation fees income 588,673 562,681
Training fees income 796,613 289,497
Other income 61,288 87,104
6,328,937 6,358,749
Less: Expenditure
Employee benefits expense 3,531,337 3,252,112
Depreciation on property, plant and equipment 313,833 338,089
Fund raising expenses 75,234 21,209
Other expenses 1,911,510 1,793,054
5,831,914 5,404,464
Surplus of Income over expenditure 497,023 954,285
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TSAO FOUNDATION SNAPSHOT 2011
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TSAO FOUNDATION
(Incorporated in the Republic of Singapore and Limited by Guarantee)
Statement of Changes in Funds for the year ended 31 December 2011
<--------———Unrestricted —–—----——--> Restricted
Accumulated Training Scholarship
fund fund fund Total
S$ S$ S$ S$
Balance at 1 January 2010 3,100,125 - 145,077 3,245,202
Surplus of income over expenditure
for the year 954,285 - - 954,285
Transfer of funds (356,000) 356,000 - -
Net movement from scholarship fund - - (637) (637)
Total comprehensive income/(loss)
for the year 598,285 356,000 (637) 953,648
Balance at 31 December 2010 3,698,410 356,000 144,440 4,198,850
Surplus of income over expenditure
for the year 497,023 - - 497,023
Transfer of funds 131,000 (131,000) - -
Net movement from scholarship fund - - 289 289
Total comprehensive income/(loss)
for the year 628,023 (131,000) 289 497,312
Balance at 31 December 2011 4,326,433 225,000 144,729 4,696,162
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TSAO FOUNDATION SNAPSHOT 2011
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TSAO FOUNDATION
(Incorporated in the Republic of Singapore and Limited by Guarantee)
Statement of Cash Flows for the year ended 31 December 2011
2011 2010
S$ S$
CASH FLOWS FROM OPERATING ACTIVITIES:
Surplus of Income over expenditure 497,023 954,285
Adjustments for :
Accretion of deferred capital grant (172,609) (167,498)
Depreciation on property, plant and equipment 313,833 338,089
Loss on disposal of property, plant and equipment 2,427 720
Interest income (3,459) (2,118)
140,192 169,193
Operating surplus before working capital changes 637,215 1,123,478
Decrease in inventories 950 7,171
Increase in receivables (95,169) (250,380)
Increase/(decrease) in payables 175,106 (229,156)
Changes in working capital 80,887 (472,365)
Cash generated from operations 718,102 651,113
Payment of awards and scholarships from
scholarship fund - (1,000)
Net cash from operating activities 718,102 650,113
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property,plant and equipment (138,761) (151,106)
Interest received 2,030 1,914
Proceeds from disposal of property, plant and
equipment - 2,000
Net cash used in investing activities (136,731) (147,192)
Net increase in cash and cash equivalents 581,371 502,921
Cash and cash equivalents at beginning of the year 4,150,600 3,647,679
Cash and cash equivalents at end of the year 4,731,971 4,150,600
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TSAO FOUNDATION SNAPSHOT 2011
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TSAO FOUNDATION
Reserve Policy
The primary objective in the management of the Foundation’s reserves is to ensure that it maintains strong and healthy capita l
ratios in order to support its operations and future growth.
The Foundation targets to maintain an optimum level of accumulated fund which is equivalent to 1 year of its expenditure in
view of the assured funding from Tsao Ng Yu Shun Trust and sustainable income from consultation fees.
The Foundation regularly reviews and manages its reserves to ensure optimal structure, taking into consideration the future
capital requirements of the Foundation and capital efficiency, prevailing and projected profitability, projected operating cash
flows and projected capital expenditures.
The Foundation is not subject to externally imposed capital requirements.
There were no changes to the Foundation’s approach to reserve management during the year.
Principal Funding Sources of the Charity
Tsao Ng Yu Shun Trust