NKF should Give Up Existing Funds

The damage has been done by NKF. Whether or not the CEO is sacked is a lost cause. Money has already been lost to the excessive luxuries which the CEO claims to be entitled. What is most important the to see that the remaining large nest egg of public donations stays protected as charitable funds.

Since reports had already stated that with the current business model of NKF with patients co-paying their treatments, its reserves will last 30 years. A large part of the reserves goes into education programs (which I suspect are those drama serials with heavy undertones of "live healthily" & "If not for XXX organization, I would not have made it this far"). However with public trust severely eroded, how effective will their education programmes be? NKF should stop pouring money in there.

With a very conservative estimate of future inflation taking up to 5 years worth of its expenditure, the organisation is still left with a sizeable nest egg of 25 years. To be fair, NKF can keep enough funds for operations for more than 5 years. The remaining 25 years worth of funds should be given to a trustworthy caretaker.

This petition serves to replace costly legal proceedings to pressure NKF to give up its funds as an apology to Singaporeans, young and old, rich or poor for such breach of trust.

Possible destinations of the funds include the government main charity arm: The Community Chest; which is a collection of various charities with stringent checks on their operations. Another donation drive is coming up which is likely to be adversely affected by the saga: The PresidentЇs Star Charity. It could also be a worthy recipient of funds from NKF. Otherwise a public trust fund can be set up, controlled by a prominent public figure such as The President or a statutory board so as to manage the NKF funds to help various charities which lost out in the monopoly of the, sad to say, Charity Industry.

To the NKF: Please stop making use of innocent schoolchildren as your free fundraisers when you can well afford TV extravaganza. Please stop wasting money on employing telemarketers to pressurise us to become your slaves in fundraising cards. They are a nuisance most of the time. Finally please be accountable to the compassionate people of Singapore.