Monday, March 17, 2008

Fee Hike Comments continued.

If you have further comments to the post QT Meeting with KB on Saturday you may post them here.
We are happy to present additonal data on the lease, available from SLA:
* Cheviott Hill (East Coast) 3+3+3 yr lease
You may verify this from
http://www.sla.gov.sg/doc/ser/TenderAwardList(2004).xls
62Kpm x 12 = S$ 744K annually
Area: 7322 sq.m.
Tender closed Sept 2005

* Balestier ? Jalan Rajah - Former Moulumein
You may verify this from
http://www.sla.gov.sg/doc/ser/TenderAwardList(2005).xls
Tender closed Aug 2007
Area: 9094 sq.m.
170K pm x 12 =
S$ 2.04 million annually

* Queenstown
Caution: This figure is not from SLA but from Year 2006 Estimate
Approximately = S$ 1.29 million annually

The above given figure for Queenstown agrees with the excellent analysis by ' KB-PG MEETING ANALYSIS-I' in the previous post.

Lease expense as % of revenue: The credits during Year 2006 for QT Campus were approximately: S$ 9 million (Tuition Fees) + S$ 3.9 million (Refundable deposit) + S$ 1.14 million (Registration fee). Even if we ignore the refundable deposit, the rental/lease is only coming to at most 13% of revenue when taken as 1.29/(9 + 1.14) . In actual fact, it is even less, the 10% figure offered by the said commentator is likely to be more correct.

So, a 60% increase on the 10% part, should be a 6% increase, as already argued by the said commentator.

Parents, please send this blog page to GIIS/GIF and request their response even though it may not be forthcoming.

We request each parent, to ask 5 other parents who have not yet voted, to vote without delay, after reading the facts and analysis.

43 comments:

Anonymous said...

thanks for the analysis. In fact I was going through the same excel sheet for the 2004, 2005 and 2007 tender awarded files on The SLA website yesterday morning. I even visited the ebiz corner, but could not find GIIS on the list. Ha ha now the truth is out KB is bullshitting all along. Now the facts are out. Let's take this matter up with CASE singapore to mediate between the school and parents.

transborder said...

If you search for GIIS or GIF you may not find...but pls also search for 'INDIAN SCHOOL Pte Ltd'

INDIAN SCHOOL PTE LTD
Directors are
1. ATUL ARVIND TEMURNIKAR
2. KAUSTUBH SUDHAKAR BODHANKAR
3. SHAILESH ARVIND TEMURNIKAR

(brothers and brother in laws company. pls confirm this info yourself ).

This is one of the companies in the network.

Is this company governed by any CHARITIES LAW ????

Somebody pls find out what Indian companies are in the network???

transborder said...

'Bharatiya Vidya Bhavan Singapore Ltd' is another company in the network.
1. ATUL ARVIND TEMURNIKAR
2. SUBODH RAMAKANT GORE

Who is SUBODH RAMAKANT GORE ?
Likely to be known in Maharashtra Mandal circles. Likely to be from Nagpur. Likely to be related to the same family. Any whereabouts ?

dialog said...

Here is SLA's url for Baliestier school lease :
http://www.sla.gov.sg/htm/new/new2008/new0403.htm

The useful figures are in this table :
Some examples of State Properties leased out in 2007 as commercial schools use
Property GFA (sqm) Awardee’s Name Award Value

371 Tanjong Katong Road 7,051.0
Canadian International School Pte Ltd $82,000

51 Jalan Rajah, 11,176
EASB Institute of Management Pte Ltd $210,000


51 Jalan Rajah, 9,094
Indian School Pte Ltd $168,510


10 and 12 Chai Chee Lane 12,638.5
International Learning Pte Ltd
$88,000

---- some entries cut-----

Right To Information zindabad !

ahem... said...

Good research ! Disclosures are very relevant and revealing.My respect for the blog editors goes higher up than ever before. The details collected from SLA reveals a few things chief amongst them are the facts

i) that the East Coast Campus was secured at a throw away rent, namely,8.46 S$ per sq.mt ii)that one can infer that the much bigger QT campus of approximately 12000 sq.mt was secured at even a cheaper rate(8.20 S$) as it was immediately post-SARS and alomst one year before East Coast, iii) that between Jan 2005 and now, GIF has been making huge profits at QT campus ( which is unlikely to be the case at Balestier given the rent of 18.70 per sq.mt), iv) that these profits have been feeding new ventures, travels and glitzy shows and not quality development programmes or for appointing better teachers or for paying teachers better, v) that the GIF/GIIS management was not very intelligent ,in fact, quite rash, in rushing to bid for Balestier when they already had two campuses for which they are/were paying a pittance, vi) that the 3rd campus decision was taken to prevent others from moving in, some sort of a threat which is a psychological victory but not a good financial move, vii) that the fee hike becomes important for GIF/GIIS to maintain the Balestier campus and still maintain the same profit margin and finally viii) that we are all paying through the nose for the impulsive decisions of perhaps one individual or one set of individuals.

It is very difficult to visualise a team consisting of Messers. MGK Menon, Karan Singh,Narayanamurthy, Shashi Tharoor, Justice Dharmadhikari etc., taking a decision like opting for a third campus only to wake up six months later and announce a fee hike! Common sense and decency demanded that we were told about a possible fee hike before GIF bidded for campus no:3.

so, what was an attempt to stall other Indian schools from moving in/expanding has boomeranged on GIF.

Moral: do not cut your nose to spite your face!

ParentsGroup said...
This comment has been removed by the author.
ParentsGroup said...

Dear Parents,

I have received few emails from some parents who are interested to join the next meeting with KB. I would like to know if any other parents also interested to join the next meeting, Please drop an email at raatdinraat@gmail.com to confirm, I'll make the appointment but you guys have to attend the meeting. Please reply ASAP.

Many Thanks,
RDR.

RS said...

May be its good ideat o meet somewhere outside the school to see the real parents, finalise the agenda and what needs to be present / addressed, decide course of action and then meet up in groups with the school authorities. At present everybody is advising but no concrete action planned.

RS said...

May be its good ideat o meet somewhere outside the school to see the real parents, finalise the agenda and what needs to be present / addressed, decide course of action and then meet up in groups with the school authorities. At present everybody is advising but no concrete action planned.

RS said...

Reply from KB in response to my email :-

----------------------------------
We acknowledge the receipt of your email.
1. I absolutely agree with your point that the fixed costs reduce as the number of
students increase. Sir, I however will like to point out that what happens when the
Fixed costs such as Lease rentals increase (and in our case the Lease rentals have
gone up substantially, which is a major fixed cost for us), any reduction on cost
per student basis just gets wiped off. This substantial increase in the Lease rent
for us has contributed the most in the increased cost of operations for the school.
2. School Bus Transport: The transport charges for the school has substantially
increased over the last one year due to the rise in the fuel costs (Diesel has gone
up by nearly 25% in the last one year itself). The School Bus contractor operates
a fleet of buses with majority of the Buses being 11 seater buses, which are not
an optimal solution for the transport (due to fixed costs such as salaries of the
driver and the attendant). We need to run the large no. of 11 seater buses to be
able to accomodate the pick up and drop off to the school within 60 minutes.
In addition, the school has formed a committee, which has called for proposals from
other transport contractors. The committee currently is evaluating these proposals
and will take a decision on this matter.



3. The recent price hikes in Singapore such as almost 100% increase in the
commercial and industrial rents, 50% increase in the fuel prices, 20% increase in
the Electricity prices, GST hike of additional 2%( thereby leading to increase in
the consumer price index e.g. average rate increases for 1 litre of Milk is more
than 27.7%) has lead to higher wages for all labor intensive services such as
cleaners, security guards, etc., The school’s operating costs are a function of
all of these costs, while some of these costs have escalated sharply over last 18
months (such as Fuel Prices), costs such as average Manpower costs have gone up by
nearly 60% over the last two years due to the hiring of expat teachers (for core
classes) and salary increments.
The school’s operating costs are a function of all of these costs, while some of
these costs have escalated sharply over last 18 months (such as Fuel Prices), costs
such as average Manpower costs have gone up by nearly 60% over the last two years.
The school has exercised all the avenues to optimize these escalating costs, and
only a portion of the increase has been passed on to the parents in the form of $78
& $98 per month.
Sir, having said this, fee increase was an extremely difficult and tough decision
for all of us at the school, however there was no other option but to pass on some
portion of this added burden to the parents.
I hope the above addresses your concerns. I look forward to your support and
understanding on this matter.
Warm Regards
Kaustubh Bodhankar
----------------------------------

ParentsGroup said...

Yes, I am agree with you.
Can I request all the parents to send an email to RDR with your contact nos. So atleast I can talk to the person directly and fix the appointment and other details.
Best Wishes,
RDR

ParentsGroup said...

Dear Parents,

We must have to do something otherwise nobody is going to listen our grievances.

Please don't hasitate and come forward to join the group.

RS said...

CASE requires a student contract copy along with other documents.
Someone need to make a visit to CASE office with NRIC to discuss with the complaints officer.

charity? said...

This blog authors could anticipate rental rises due to Balestier in November 2007. Why cannot GIF anticipate ?

Reason: they didn't want to. So lock us parents in first, then force raise down our throats. (Same stragegy was tried for GIH but some parents who stood firm managed to change it. We don't know the full story of the back down). See the timing of this raise. Balestier is not a new campus opening yesterday. Why does it take so long to count the cost ? They wait for March, then threaten us with robbing our deposits so we think twice before pulling out. Or if u pull out also, they gain. Then tell poor parents (are we idiots?) that Charity law of Singapore prevents GIF from returning our deposits (donations???)

Not only CASE - please involve Commissioner of Charity too 'cos school claims to be non profit and charity. If they didn't claim that it is a pure CASE case. If it calls itself a charity then it has to behave like a charity and be financially responsible and everything should be clean.

books price said...

Price of books also to be notified to CASE. Scan last years book bills if anybody has.

if KB were to be Kasturba said...

RS, Thanks for sharing KB’s response. This is the best way of going about it." Now, if I were KB and I decided to speak the truth, this is how it would be !"After all with Gandhi in vicinity KB can become Kasturba,right...?

1. This substantial increase in the Lease rent for us has contributed the most in the increased cost of operations for the school."Guys, You know that GIF pays a higher rent for Balestier .We decided rather foolishly to start a 3rd school and you will foot the bill just as you did when we opened KL, Tokyo and the loss making Auckland schools!"
2. School Bus Transport: The transport charges for the school have substantially increased over the last one year due to the rise in the fuel costs (Diesel has gone up by nearly 25% in the last one year itself). "I know that a detailed talk on micro issues and technicalities will tire you out and you will give up! You don’t know that we make more money on bigger buses than smaller ones and if you are careful enough, you will notice bigger buses now than ever before. We invited public bids in early 2006 and early 2007 through ST to get new transport company. But found that we will make less money for the school if we appoint better servicer providers. The ‘bahana’ of 2006 and 2007 is on now also. Do you really believe that a new company can provide services in two weeks time, considering our numbers?"

3. 100% increase in the commercial and industrial rents, 50% increase in the fuel prices, 20% increase in the Electricity prices, GST hike of additional 2%, higher wages for all labor intensive services such as cleaners, security guards, etc., average Manpower costs have gone up by nearly 60% over the last two years due to the hiring of expat teachers (for core classes) and salary increments. "Oh,hell!Did you notice that all these figures above are rounded to the nearest 10, except the GST? A simple multiplication factor will help. A 40 dollar increase to the teachers who have out in 5 years which is 2% increase becomes 60%, if you multiply 2 by 5( the number of years) and the product by 6 ( the number schools in SE Asia!) 2 x 5x 6 =60! As for sharing the burden, I still do not want to burden you with truth. I know it hurts to pay but it hurts me more to tell you the truth!"

"Guys..leave me alone. You know that to cover a lie, you have to tell a hundred."

ROC/ROS said...

You will need these info, keep safe:
Global Indian Foundation
ROS/RCB Reg 200301352N
Charity Reg No. 01801
f.k.a Global Indian Education Foundation Ltd
f.k.a. Indian Trust (Singapore) Ltd.

BGIIS ACRA registration
ROC Reg No 53005037D 4/10/2003

ROC/ROS said...

You will need these info, keep safe:
Global Indian Foundation
ROS/RCB Reg 200301352N
Charity Reg No. 01801
f.k.a Global Indian Education Foundation Ltd
f.k.a. Indian Trust (Singapore) Ltd.

BGIIS ACRA registration
ROC Reg No 53005037D 4/10/2003

RS said...

I have already sent the details to RDR, let's plan to meet sometime in the evening, over the next few days before a meeting is arrange with KB, AT & Principals. Our agenda may be justification for the hike, tranparency in the costs/taxes, unjustified transport costs, avoid linking the school fees and transport fees with the markets etc.

I am sure, given the option parents group can run the tranport operations/function with a better cost structure that's in line with the school transport authority's recommendations or guidelines.

Anonymous said...

lol the security guards, cleaners are all contract employees who are literally paid stingily by most employers. What is interesting to know is that the school gets the children in primary schools to clean up the canteen mess/tables and class corridors regularly as part of their community service. All new bahanas to get the kids do the jobs of cleaners. Shame on the school management for forcing their dirty ideas on school kids all in the name of saving dollars.

ParentsGroup said...

Dear Parents,

Please send me your contact details asap, I've received the contact details from RS.

Thanks RS.

Regards,
RDR

Arun said...
This comment has been removed by the author.
Anonymous said...

http://youth.sg/index.php?option=com_content&task=view&id=1316&Itemid=28&sidenavpos=0

Difference between a charity and an Institution of Public Character

Written by Denise Pinto, on Wednesday, 20 September 2006

Published in : Outreach, Community


According to the "Interim Report by the Inter-Ministry Committee on Regulation of Charities and Institutions of a Public Character" dated 10 Feb 2006, only organisations registered as IPCs are authorised to receive tax-deductible donations. Hence if a charity is not registered as an IPC, donors will not be given tax deduction for donations made to this organisation. Below is an abstract from the report.


Charities


There are currently about 1,800 charities in Singapore, and they are regulated under the Charities Act. A charity is defined as an organisation, trust or foundation that operate on a not-for-profit basis, set up exclusively for charitable purposes and carries out activities to achieve these purposes which benefit a sufficient portion of the community. Every organisation established exclusively for charitable purposes (other than those exempted) must apply for registration with the Commissioner of Charities (known as "COC"). A charity enjoys income tax exemptions if it spends at least 80% of its annual receipts on charitable purposes in Singapore. It also enjoys property tax exemption on premises used exclusively for charitable purposes.

Institutions of a Public Character

There are currently about 900 Institutions of a Public Character (also known as 'IPCs') in Singapore. IPCs are organisations which are authorised to receive tax-deductible donations, i.e. donors are given tax deduction for donations made to these organisations. All IPCs have to comply with the Income Tax (Approved Institutions of a Public Character) Regulations 2004 which sets out requirements such as the use of tax-deductible donations,issuing of tax deduction receipts, maintenance of donation and accountingrecords, and public disclosure.

ParentsGroup said...

LATEST NEWS -
This is the inside information but 100% true, that GIIS has reverted back the fee increment for teacher's kids. GIIS has increased the fee for teachers kids from 20% of normal fee to 40%. But after teacher threatened the management then the management has reverted back the increment with immediate effect.
Regards, RDR

not an IPC said...

Please understand that GIIS,GIF and the earlier entities..none of them is/was under the Charities act or a IPC.AT & KB have been loosley using these words but have never committed themselves in serious documents to the effect that the founadtion/school is a charity or IPC. As repeatedly posted by various people in this blog, GIIS is a ' sole proprietorship ' concern of Mr.Atul Temurnikar. The foundation is declared as a non-profit initiative and this is something that we people can look at closely. As per Singapore's statutes non profit organisations have to limit their profit ( on books) to a particular percentage unlike the 'for profit' organisations. So, as long as the account books are doctored to show that profits are within a certain percentage, the foundation can get away with whatever it does. The statutes do not bother about how or who spends the money. For example, a senior functionary of GIF can spend XXXXX S$ on fuel, travel and phone calls and as long as bills are produced, there are no issues.The justification for the act or the amount is not neceesary. In other words, it will be a technical accounting audit not a social audit.So, we have a long way to go before what is RIGHT and what is REASON prevail !

ParentsGroup said...

Dear Parents,

Please drop me an email ASAP, if you are interested to join the meeting.
Thanks, RDR

non-profit said...

to not-an-IPC: Good points. GIF is definitely not an IPC.

GIF (not GIIS!) is a "non-profit" and a "charity". To be a charity (in the narrow accounting sense) is in fact a khushi job: GIF just needs to keep spending most of what it gets to be called a "charity". What GIF "gets" is profit out of GIIS schools in Singapore. GIH show, ZeeTV ads and other things show that GIF is quite good at being a "charity" (spending money).

The key point is, GIIS is not a charity and is allowed to make good profits..which are then handed over to GIF, the "charity" beneficiary who milks GIIS.... and being a charity, GIF is duty bound to spend most of it.

Whether the money must be spent on GIH show, ZeeTV ads, Mumbai office, Auckland fiasco, foreign trips etc or to pay teachers decently, to set up library, laboratory, proper infrastructure etc is all an issue of governance which nobody will worry about, except parents and teachers.

Lesson: Paying fees is not enough. You have to make sure it is well spent towards the education of your child.

Anonymous said...

http://app.mcys.gov.sg/web/comm_comminv_infonewvwos.asp#2

Looks like GIF is regd under charities act..




On Voluntary Welfare Organisation (VWO)
On Charities
On Institution of Public Character (IPCs)
On Fund-Raising Matters
On Central Fund Membership
VWOs-Charities Capability Fund (VCF)
Selection of Social Service Providers
Panels of Contractors to Provide Facilities Service to Voluntary Welfare Organisation



What is a Voluntary Welfare Organisation (VWO)
An organization that provides welfare services and/or services that benefit the community at large and is not profit-making. There is no legal definition of a VWO, but VWOs are typically registered with the Societies Act or as a trust (under a trust deed).

How do I register as a Society?
VWOs that want to be registered as a Society should register with:

Registry of Societies (ROS)
Singapore Immigration & Registration
SIR Building
10 Kallang Road #06-00
Singapore (208718)

For more information and to download application form,please visit this website:
www2.mha.gov.sg/mha/ibrowse.jsp?type=12&root=0&parent=0&cat=90


Top




What is a charity
A charity is an organisation / trust / foundation set up exclusively for charitable purposes. It carries out activities to achieve these purposes.

Charitable purposes can be classified into the following four main categories:
a. the relief of poverty
b. the advancement of education
c. the advancement of religion
d. other charitable purposes which help and benefit the community

How do I register as a charity?
VWOs that want to register as a charity needs to be first formerly registered with the ROS, the RCB, or be established under any written law before they can register as a charity. VWOs that want to register as a charity needs to be successfully registered under the Charities Act with:

Commisioner of Charities (COC)
55 Newton Road
Revenue House
Singapore 307987
Tel: 63512875
Fax:63512888

All Charities set up in Singapore must apply for registration under the Charities Act within 3 months of its set up.

For registration, more information on guidelines for governing instruments, charity trustees, their responsibilities and duties, annual reports, permits, tax aspects of charities, please visit the following website: www.iras.gov.sg/ESVPortal/others/charities/index.asp

I want the list of registered charities in Singapore. Please visit this website:
www.iras.gov.sg/esvportal/others/charities/charity/charitylist.asp

Anonymous said...

Found this info here...

https://www.charities.gov.sg/charity/index.do

Non-Financial Information Financial Information Code Compliance


Name of Organisation: Contact Information
GLOBAL INDIAN FOUNDATION LTD.
Name of Contact:

Address: Telephone No:
Blk/Hse No: 1 Street Name: MEI CHIN ROAD Fax No:
Level No: Unit No: Building Name: Email Address:
Postal Code: 149253 Website Address:

Charity Status IPC Status
Charity Regn No: 001801 Effective Date: -
Charity Regn Date: 19/08/2004 Sector Administrator MOE
Constitution: Company
Date of Establishment 17/02/2003
ROS/ACRA Regn No: 200301352N


Objectives: Beneficial Area:
No. of Beneficiaries:
Vision/Mission Programs/Activities
*For Current Year:
*For Last Year:

Patron

Trustees/Board Members
CHANDRAKANT GULABRAO BORDE SINGHVI LAXMI MALL
CHANDRASHEKHAR SHANKAR DHARMADHIKARI PAMELA NEO LAY HIANG
ATUL ARVIND TEMURNIKAR SUBODH RAMAKANT GORE
SMITA SUDAN WARGANTIWAR SHAILESH ARVIND TEMURNIKAR

ParentsGroup said...

Dear All,

Thanks for your kind attention, so far I have received 12 parents contact details still we need more parents help. Please ask your friends to join the blog ASAP.
Visit http://forabettergiis.blogspot.com/2008/03/fee-hike-comments-continued.html
Thanks,
RDR

Anonymous said...

Can anyone find out if AT is on Salaried role or just living on out of pocket expenses?

1. Can trustees be paid?
Generally, charity trustees are not entitled to receive any salary in respect of their services as trustees. However, they may be reimbursed reasonable and out-of-pocket expenses from the charity?s income. A charity trustee should not be in a position where any personal interest may conflict with his role as a trustee.


2. Who are charity trustees?
Charity trustees are persons responsible for the general control and management of the administration of the charity, under the governing document. These could be members of the executive / management committee.

3. What are the general responsibilities of charity trustees?
Charity Trustees should:

- Be actively involved in the management and decision-making process;
- Ensure that proper minutes of meetings are kept;
- Ensure that the charity is not open to any abuse;
- Exercise strict control over the financial affairs of the charity; and
- Jointly make decisions on policy matters.


Charity trustees may delegate the day-to-day management to employees. Such delegation must be given in writing.

Charity trustees are also required to comply with the provisions of the Trustees Act, the Charities Act and the relevant statute (i.e. Companies Act/ Societies Act) under which the charity is established.

paid said...

Legally AT (as Trustee) cannot be paid by GIF (since GIF is a charity). I personally think that though AT& co will be creative to work around that problem instead of violating law.

No problem, since AT (as Director) can be paid by GIIS (GIIS is not a charity). The legal argument may be that this AT is different from that AT (in role).

Likewise, Indian School Pte Ltd, the other company which leased Balestier, may pay AT (no evidence yet).

Now some facts: GIIS Queenstown in 2005 paid out (it not clear from audit document whether it was paid to AT or someone else) 'Director's remuneration' of S$ 205,960. This was about 2.5 times the amount paid in 2004, which was only S$ 86,360. [According to audited account submitted by GIEF Ltd (old name) in June 2006, Audited by Wee Koon San & Co].

What about from East Coast ? What about other schools ? Don't know yet.

What about 2006, 2007...? The pay out must be bigger now since GIIS has grown and then there is the '60% salary rise' that are supposed to be occurring in GIIS.

(One more point. If GIF+GIIS do not spend well, it becomes hard to call themselves a charity).

Anonymous said...

Re: Paid....

So, don't you think that there is a clear conflict of interest here? AT will run into legal problems if he has been paid as Chairmain of GIIS, but inturn he is also a Trustee of GIF.

charity trustee should not be in a position where any personal interest may conflict with his role as a trustee.

This is the best opportunity to Sue him....

Anonymous said...

CASE PRESS RELEASE

UPDATE ON STUDENT PROTECTION SCHEME AND IMPLEMENTATION OF ALL REQUIREMENTS OF CASETRUST FOR EDUCATION

http://www.case.org.sg/downloads/central/Press%20Release%20CaseTrust%2013%20Apr%2005.doc

Launch of CaseTrust for Education in 2004
6 CaseTrust for Education was launched in 9 September 2004 as an initiative under the Education Excellence Framework[1]. It is to be implemented in two phases:-
(i) From 1 December 2004, all Private Education Organisations (PEOs) would need to have a CASE-endorsed Student Protection Scheme (SPS) to offer school placement for international students;
(ii) From 1 September 2005, if PEOs intend to continue bringing in international students, they must achieve all requirements of CaseTrust for Education, in addition to SPS, failing which these PEOs will not be able offer placement for international students in their programmes in Singapore.

paid said...

Conflict of interest: only legal can give the final word. can any lawyers help ? (pro bono?)

CaseTrust: I think above item about CASE Trust / EduTrust is only for POEs and not applicable to 'Foreign System Schools' (GIIS, DPS, NPS) which are supposed to be more 'bonafide' (??).

See a post in this forum itself,
http://forabettergiis.blogspot.com/2008/03/
moe-edutrust-to-look-closely-at-private.html

Anonymous said...

Thanks for all the informations. After closely watching all these posts in the recent past, i really pity myself for allowing these "Blood Suckers" to ride on my back voluntarily!! Whatelse to call those who are mere opportunist, label themselves as CHARITY organizations, not even leading ears to people's voices (forget about assistance)and steal hard earned money in the name of commitment. But from now on, we cannot allow this funny game to carry on like this.
Its so unfortunate to deny our kids a bright future with the indian education system just bcos of these funny people, who seems to take advantage of the rising indian expats population in singapore and elsewhere.
Let us join together to bring these black sheeps into light.

Anonymous said...

Who is the Commissioner of Charities?


The Commissioner of Charities is Mr Low Puk Yeong. He was appointed as the Commissoner officially on 1 September 2006 when the office of the Commissioner of Charities was transferred from the Ministry of Finance to the Ministry of Community Development, Youth and Sports.


What is the URL for Charity Portal?

www.charities.gov.sg


What is the general function of the COC?
The Commissioner of Charities has the general function of maintaining public confidence through

a) promoting effective use of charitable resources;

b) encouraging development of better methods of administration;

c) giving charity trustees information on any matter affecting the charity, and

d) investigating and checking

Anonymous said...

Charities: Compliance Requirements
1. Must the statement of accounts of a charity be audited?
For charities whose income or expenditure exceeds $250,000 in the current year or either of the previous 2 financial years, the accounts must be audited by an approved external auditor. Accounts should be prepared on the accrual basis.

2. What information should be included in the Charities Annual Statement of accounts?
(1) According to the Charities Act (Chapter 37, Section 16(1) and 48) Charities (Annual Statement of Accounts) Regulations, the statement of accounts to be prepared by the charity trustees of a charity shall contain -
(a) an income and expenditure account showing the income and the expenditure of the
charity during the financial year;
(b) a balance-sheet showing the assets, liabilities and funds of the charity at the end of the
financial year;
(c) an explanation of the accounting policies used to prepare the accounts;
(d) the details of transactions relating to, and the state of the various funds of the charity;
(e) notes on - (i). how the funds reflected in the balance-sheet must or may be utilised
because of restrictions imposed by donors; and (ii). the relationships between, and
analyses of, the information contained in the income and expenditure account and balance-
sheet; and
(f) notes which explain, expand on or provide the circumstances relating to, or other
useful information on, the information contained in the income and expenditure account
and balance-sheet.
(2) For each sum disclosed in the statement of accounts or in the notes to the statement of
accounts, the corresponding sum for the previous financial year is to be stated.
(3) The dates covered by the current and previous statements of accounts are to be stated.

3. What are the legislations / regulations / rules / requirements that charities have to abide by?
Charities have to abide by the Charities Act and Regulations that outline the rules on registration, deregistration, and submission of accounts, reports and returns, fund-raising and others.

These include:
- Charities Act
- Charities (Annual Report) Regulations
- Charities (Annual Statement of Accounts) Regulations
- Charities (Fees) Regulations
- Charities (Fund-Raising Appeals for Foreign Charitable Purposes)


4. What sources can I refer to if I need more information on legislations / regulations / rules that charities and IPCs have to abide by?
You can check the Singapore Government Statutes.Online website for more information. Alternatively, you could send your queries to the Charity Portal. Your query will be directed to the appropriate officer for further follow-ups.

5. What information should be included in the Annual Report?
According to the Charities Act (Chapter 37, Section 16(1) and 48) Charities Annual Report Regulations, the annual report to be prepared by the charity trustees of a charity shall contain:

(a) the following particulars:
(i) a description of the instrument setting up the charity;
(ii) the charity registration number;
(iii) where the charity is a society registered under the Societies Act or a company, the registration number of the society or the company;
(iv) the registered address of the charity;
(v) the names of the charity trustees and their dates of appointment;
(vi) the names, designations and dates of appointment of the members of the management committee, advisory council or other similar body, if any; and
(vii) the names of the bankers, lawyers, auditors, investment advisers or other advisers of the charity;

(b) a report by the charity trustees containing ?
(i) an explanation of the objectives of the charity and a description of the way in which the charity is organised, and the policies adopted during the financial year in pursuance of its objectives;
(ii) a review of the activities during the financial year;
(iii) a review of the financial state of the charity and an explanation of all major financial transactions; and
(iv) an explanation of the purposes for which the charity?s assets are held and an
indication of the charity?s future plans and commitments, with particular regard to ongoing
items of expenditure, projects not yet completed and obligations not yet met; and

(c) a statement of accounts prepared under section 13 (1) of the Act or, if allowed under section 13 (3) of the Act, a receipts and payments account and a statement of assets and liabilities.

Anonymous said...

Now you should know why GIF is not regd under IPC's.

1. What are the legislations / regulations/ rules / requirements that an IPC has to abide by?
IPCs must abide by the Income Tax (Central Fund Administrators) Regulations 2004, and Income Tax (Approved Institutions of a Public Character) Regulations 2004.


An IPC's activities must be beneficial to the community in Singapore as a whole, and not confined to sectional interests or group of persons based on race, creed, belief or religion, unless otherwise approved by the Commissioner of Charities.

An IPC must also post its key financial and non-financial information


2. Why must an IPC post its key financial and non-financial information online?
An IPC needs to post its key financial and non-financial information online to be transparent and accountable to the public and the wider community.

3. What sources can I refer to if I need more information on legislations / regulations / rules that charities and IPCs have to abide by?
You can check the Singapore Government Statutes.Online website for more information. Alternatively, you could send your queries to the Charity Portal. Your query will be directed to the appropriate officer for further follow-ups.

Anonymous said...

What a large scale scam? This seems to be going in the same line of the NKF saga. GIF does not have to pay any taxes from this year onwards as per new rulings of the charities act... This Foundation is looting money in the name of a non-profit institution. All these trustees should be hanged or shot down.

http://statutes.agc.gov.sg/non_version/cgi-bin/cgi_retrieve.pl?actno=REVED-37

(3B) The Commissioner shall remove an institution from the register of charities —

(a) if it appears to the Commissioner that the continued registration of the institution as a charity is contrary to the public interest; or

(b) on such other ground as the Minister may prescribe.
[10/2007]

Anonymous said...

Precisely the reason cited by Bhavans in revoking the affiliation of the school.

Considering Bhavans could see it in 2005 or 2006, it is high time!

Here it is in Bhavan's own words, from the scanned Bhavans memo going around (if you haven't seen it, ask around in your email circles). The relevant portion (on page 2) says:
"..This made Bhavan go deeper into the working of the Singapore School. The principal concern which emerged was that the Singapore Trust was collecting huge amounts running into crores of rupees by way of Deposits / Registrations from unsuspecting parents. This was nothing but commercialization of education which was in direct contrast to the philosophy of Bhavan."

Anonymous said...

why can't I see the annual report on GIF official website? I see only Mr.Nandakumar

http://www.globalindian.org.sg/Default.aspx?tabid=1294

Anonymous said...

--- Confirmed News ---
AT and GIIS staff (Teachers and other staff members) are going on cruise from 4th ~ 6th April and school is going to bear the cost of this trip.

You know this money is our harder money, please do something.