NKF S$900,000 in the red - its first deficit in 10 years
By Lynda Hong, Channel NewsAsia | Posted: 17 November 2009 2122 hrs

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SINGAPORE: For the first time in a decade, the National Kidney Foundation (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 per cent or S$6.5 million drop 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 about 150 patients.

Expenses rose as the number of patients increased 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, the organisation is setting aside S$24.5 million for assistance aid and subsidies.

Its reserves currently stands at S$270 million. NKF said it is able to cope and will use the surplus from the previous years to tide over the deficit.

Despite the deficit, NKF is still planning to build a new dialysis centre in Jurong. - CNA/vm