2016-11-14T15:00:12-06:00 2015-12-31 135565207 KPMG LLP 345 Park Avenue New York NY 10154 990 2015-01-01 131624108 The Conference Board Inc CONF 2127590900 845 Third Avenue New York NY 100226600 James Slamp Executive Vice President and CFO 2016-11-14 true Mary-Evelyn Antonetti P00431862 2127589700 2015-05-15 2015 2017-02-10 21:41:12Z Jonathan Spector CEO 845 Third Avenue New York NY 100226600 76117306 false X WWW.CONFERENCE-BOARD.ORG X 1924 NY The Conference Board creates and disseminates knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. 23 21 268 21 0 0 1676814 10252575 23187391 53153926 594648 359630 9359 -35242 25468212 63730889 0 0 15384199 35717143 0 0 9702393 24812331 25086592 60529474 381620 3201415 23804589 30995958 59671743 55800348 -35867154 -24804390 X The Conference Board creates and disseminates knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. Working as a global independent membership organization in the public interest, we conduct research, convene conferences, make forecasts, assess trends, publish information and analysis and bring executives together to learn from one another. false false 28089908 0 45322018 THE CONFERENCE BOARD CONDUCTS CONFERENCES, SEMINARS, BRIEFINGS AND PEER GROUP COUNCILS TO EXCHANGE INSIGHTS AMONG EXECUTIVES OF CORPORATIONS IN VARIOUS INDUSTRY SEGMENTS. DURING THE TWELVE MONTHS ENDING DECEMBER 31, 2015, THE CONFERENCE BOARD HELD 29 CONFERENCES, 38 SEMINARS AND 8 WORKSHOPS. 16797853 0 7826679 THE CONFERENCE BOARD CREATES AND DISSEMINATES KNOWLEDGE ABOUT MANAGEMENT AND THE MARKETPLACE TO HELP BUSINESSES STRENGTHEN THEIR PERFORMANCE AND BETTER SERVE SOCIETY. WORKING AS A GLOBAL INDEPENDENT MEMBERSHIP ORGANIZATION IN THE PUBLIC INTEREST, THE CONFERENCE BOARD CONDUCTS RESEARCH AND PRODUCED 25 RESEARCH REPORTS DURING THE TWELVE MONTHS ENDING DECEMBER 31, 2015. 1918171 0 5229 THROUGH A WIDE RANGE OF REPORTS AND PERIODICALS, THE CONFERENCE BOARD ANALYZES AND REPORTS ON BUSINESS PRACTICES AND POLICIES, AND EVALUATES WORLDWIDE ECONOMIC TRENDS. DURING THE TWELVE MONTHS ENDING DECEMBER 31, 2015, THE CONFERENCE BOARD PUBLISHED 7 EXECUTIVE ACTIONS, 11 CONFERENCE KEYNOTES, AND 29 ECONOMIC WATCH REPORTS. 1309462 0 0 OTHER PROGRAM SERVICES - THE COMMUNICATION DEPARTMENT COMMUNICATES THE VALUE AND PUBLIC BENEFITS OF THE CONFERENCE BOARD TO MAJOR MEDIA, INCLUDING NEWSPAPERS, MAGAZINES, RADIO/TV, AND INTERNET USERS. THROUGH PRESS RELEASES, NEWS ALERTS, PERSONAL CONTACTS AND NEWS BRIEFINGS, THE DEPARTMENT PUBLICIZES THE CONFERENCE BOARD'S MANAGEMENT AND ECONOMIC RESEARCH AND PROGRAMS. DURING THE TWELVE MONTHS ENDING DECEMBER 31, 2015, THE CONFERENCE BOARD RECEIVED 1689 INFORMATION REQUESTS, AND 1610 INFORMATION SEARCH REQUESTS 1309462 48115394 true true false false false false false false false false true false false false true true true false false true true false false false true false false false false true false false false false false false false false true false false false false true true true false false true 195 0 true 268 true false true BE IN SN false false false true true false false false false X 23 21 false true false false true true true true true false false true true true true true true true false true true AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY X Daniel Saltzman 2123390385 845 Third Avenue New York NY 10022 Ilene S Gordon Vice Chairman and Trustee 1.0 X X 0 0 0 Edward B Rust Jr Vice Chairman and Trustee 1.0 X X 0 0 0 Francisco Gonzalez Vice Chairman and Trustee 1.0 X X 0 0 0 Harry M Jansen Kraemer Jr Vice Chairman and Trustee 1.0 X X 0 0 0 Jonathan Spector CEO and Trustee 40.0 X X 965095 0 181716 Josef Ackermann Vice Chairman and Trustee 1.0 X X 0 0 0 Ronald A Williams Vice Chairman and Trustee 1.0 X X 0 0 0 Roger Ferguson Chairman and Trustee as of 12/7/2015 1.0 X X 0 0 0 Daniel F Muzyka Trustee 1.0 X 0 0 0 David Schmittlein Trustee 1.0 X 0 0 0 Pablo Gonzalez Guajardo Trustee 1.0 X 0 0 0 Pat O'Doherty Trustee 1.0 X 0 0 0 Robert Moritz Trustee 1.0 X 0 0 0 Susan Schwab Trustee 1.0 X 0 0 0 Vikram Malhotra Trustee 1.0 X 0 0 0 George S Barrett Trustee 1.0 X 0 0 0 Juergen Tinggren Trustee 1.0 X 0 0 0 Alan M Dachs Chairman through December 7, 2015 and Trustee 1.0 X 0 0 0 Ron O'Hanley Trustee as of 1/1/2015 1.0 X 0 0 0 Maggie Wilderotter Trustee as of 1/1/2015 1.0 X 0 0 0 Carl Camden Trustee as of 1/1/2015 1.0 X 0 0 0 Beth Brooke-Marciniak Trustee as of 1/1/2015 1.0 X 0 0 0 Steve Odland Trustee as of 1/1/2015 40.0 X 656073 0 18878 Cesar Alierta Izuel Trustee Through November 2015 1.0 X 0 0 0 Daniel Saltzman Assistant Treasurer 40.0 X 121310 0 19528 James Slamp EVP, Chief Finacial Officer and Treasurer 40.0 X 368030 0 74516 Sophia Muirhead SVP, General Counsel and Corporate Secretary 40.0 X 287410 0 43207 Marie Pierre-Paul Assistant Secretary 40.0 X 65076 0 17930 Hubertus Van Ark SVP and Chief Economist 40.0 X 344309 0 55464 Janet Etsch VP US Development 40.0 X 291171 0 55100 Marion Feigenbaum VP Conferences 40.0 X 330543 0 77971 Salvatore Vitale SVP Products and Services 40.0 X 351308 0 51422 Matteo Tonello Vice President and Corporate Leadership Practice Lead 40.0 X 225896 0 30395 David Hoffman Vice President and Managing Director China Center and China Center Ops 40.0 X 315203 0 0 Rebecca Ray VP Human Capital 40.0 X 318027 0 47138 Carol Orenstein Chief Marketing Officer 40.0 X 230928 0 42239 Joseph Minarik Senior VP and Director of Research 40.0 X 274831 0 0 5145210 0 715504 74 false true false HEWITT ASSOCIATES LLC 200 East Randolph Street Chicago IL 60601 ACTUARIAL SERVICES 554678 RAINER SCHULTHEIS AN DER KARLSSCHANZE 16 MAINZ GM D55131 MANAGEMENT SERVICES 400331 DICK RICHARDSON 2435 THOMASHIRE COURT CHARLOTTE NC 28262 EXPERIENTIAL LEADERSHIP PROGRAMMING SERVICES 335500 KPMG LLP 345 Park Avenue New York NY 101540102 AUDITING SERVICES 315440 PATTERSON BELKNAP WEBB 1133 AVENUE OF THE AMERICAS NEW YORK NY 10036 LEGAL SERVICES 313318 8 0 0 930250 0 15360 9306965 124507 10252575 Conferences, Councils & Meetings 541900 9743323 9743323 0 0 Membership 541900 20166674 20166674 0 0 Councils and Centers 541900 23197546 23197546 0 0 All other program service revenue 541900 46383 46383 0 0 0 0 0 0 53153926 199345 0 0 199345 0 0 0 0 3733 0 0 3733 0 0 0 0 0 0 0 0 0 0 12410227 0 12249942 0 160285 0 160285 0 0 160285 97500 930250 136475 -38975 0 -38975 0 0 0 0 0 0 0 0 0 0 0 0 N/A 0 0 0 0 N/A 0 0 0 0 N/A 0 0 0 0 0 0 0 0 0 63730889 53153926 0 324388 X 0 0 0 0 0 0 0 0 4376058 2286908 2089150 0 0 0 0 0 23454537 19141951 4312586 0 2928463 2390007 538456 0 3353175 2736627 616548 0 1604910 1309815 295095 0 0 0 0 0 486984 397442 89542 0 449310 366695 82615 0 0 0 0 0 0 0 70781 57767 13014 0 9487279 7742853 1744426 0 0 0 0 0 1627600 1328333 299267 0 0 0 0 0 0 0 0 0 2861692 2335513 526179 0 1918512 1565755 352757 0 0 0 0 0 4728416 3859001 869415 0 0 0 0 0 0 0 0 0 1149558 938189 211369 0 268932 219483 49449 0 BOOKS, PERIODICALS & SERVICE 248011 202409 45602 0 ALL OTHER EXPENSE 1515256 1236646 278610 0 0 0 0 0 60529474 48115394 12414080 0 0 0 885694 6056447 985790 1744597 0 75000 6425214 5247848 0 0 0 0 0 0 0 1802066 1896997 19956645 15088532 5376673 4868113 8271886 11106956 57266 0 0 0 0 0 23804589 30995958 3729014 6356370 0 0 25295211 26412878 0 0 0 0 0 0 0 0 0 30647518 23031100 59671743 55800348 -35867154 -25653475 0 849085 0 0 0 0 0 0 0 0 -35867154 -24804390 23804589 30995958 X 3201415 -527616 0 0 0 8388965 X false true X true false X 6785756 7701877 6772812 1676814 10291550 33228809 0 0 6785756 7701877 6772812 1676814 10291550 33228809 0 33228809 360132 300944 226981 84135 203078 1175270 0 0 0 0 0 0 0 34404079 220904679 0.9658 0.9562 X Schedule A, Part I, Line 9 Historically the organization has check box 9 as exempt with the IRS under Section 509(a)(2). However, to support the 2% calculation the organization has filled out Part II. The Part III calculation is available upon request." RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5100660 1734964 3365696 10027008 8887864 1139144 4828977 4465704 363273 4868113 Deferred Rent 1750085 Postretirement benefit obligation 2574217 Pension Liability 18706798 Foreign Subs 23031100 X 73014464 -527616 9868665 9341049 63673415 57474 0 57474 63730889 61951701 1479701 1479701 60472000 57474 0 57474 60529474 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Board is a Section 501(c)(3) organization and is exempt from federal and state income taxes under Section 501(a) of the Internal Revenue Code (IRC) and its related income is not subject to federal and state income taxes. The Board recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the Board's exempt purpose is subject to tax under IRC Section 511. The Board did not recognize any uncertain tax positions for the year ended December 31, 2015 Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Pension Related Changes - 6109430 Effect of a Foreign Currency Transalation - 104147 Foreign Sub Adjustment - 128675 Acquistion of CED - 2274429 Acquisitions Temp - 1115509 Fundraising Expense reclassified - 136475 - Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Foreign Sub Adjustment - 1343226 Fundraising Expense Reclassified - 136475 East Asia and the Pacific 4 23 Program Services Conferences/Councils / Membership/Meetings 1987332 Europe (Including Iceland and Greenland) 4 30 Program Services Membership/Meetings/Councils 6229006 8 53 0 0 8 53 8216338 0 8216338 false false true true false false Annual Fundraiser 1027750 930250 97500 0 0 70761 32337 0 33377 0 0 1027750 930250 97500 0 0 70761 32337 0 33377 136475 -38975 X X X true true X X false true false false false false false false false Jonathan Spector CEO and Trustee 663785 0 139706 0 161604 0 165000 0 16716 0 1146811 0 0 0 Steve Odland Trustee as of 1/1/2015 511073 0 145000 0 0 0 0 0 18878 0 674951 0 0 0 James Slamp EVP, Chief Finacial Officer and Treasurer 280319 0 41236 0 46475 0 57800 0 16716 0 442546 0 0 0 Sophia Muirhead SVP, General Counsel and Corporate Secretary 255732 0 31678 0 0 0 29500 0 13707 0 330617 0 0 0 Hubertus Van Ark SVP and Chief Economist 274421 0 39149 0 30739 0 20264 0 35200 0 399773 0 0 0 Janet Etsch VP US Development 256907 0 32888 0 1376 0 55100 0 0 0 346271 0 0 0 Marion Feigenbaum VP Conferences 284145 0 46398 0 0 0 64200 0 13771 0 408514 0 0 0 Salvatore Vitale SVP Products and Services 292340 0 58968 0 0 0 44700 0 6722 0 402730 0 0 0 Matteo Tonello Vice President and Corporate Leadership Practice Lead 208887 0 17009 0 0 0 23600 0 6795 0 256291 0 0 0 David Hoffman Vice President and Managing Director China Center and China Center Ops 263167 0 33734 0 18302 0 0 0 0 0 315203 0 0 0 Rebecca Ray VP Human Capital 279215 0 38812 0 0 0 39600 0 7538 0 365165 0 0 0 Carol Orenstein Chief Marketing Officer 201887 0 29041 0 0 0 21900 0 20339 0 273167 0 0 0 Joseph Minarik Senior VP and Director of Research 254831 0 20000 0 0 0 0 0 0 0 274831 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel First class travel for long flights for Jonathan Spector was a Company expense for business travel and not taxable compensation. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments David Hoffman received gross up payments due to the fact that he received salary both in the U.S., Singapore and China during FY15 Schedule J, Part I, Line 1a Housing allowance or residence for personal use Housing allowance for Jonathan Spector, James Slamp and Bart Van Ark were provided as taxable compensation Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan During the year, a SERP payment was made to Jon Spector for $84,681 X 1069 124507 Market value 0 false false false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded: TCB Received 1069 Shares of IHS Stock Form 990, Part III, Line 4d Description of other program services (Expenses $ 1,309,462 including grants of $ 0)(Revenue $ 0) OTHER PROGRAM SERVICES - THE COMMUNICATION DEPARTMENT COMMUNICATES THE VALUE AND PUBLIC BENEFITS OF THE CONFERENCE BOARD TO MAJOR MEDIA, INCLUDING NEWSPAPERS, MAGAZINES, RADIO/TV, AND INTERNET USERS. THROUGH PRESS RELEASES, NEWS ALERTS, PERSONAL CONTACTS AND NEWS BRIEFINGS, THE DEPARTMENT PUBLICIZES THE CONFERENCE BOARD'S MANAGEMENT AND ECONOMIC RESEARCH AND PROGRAMS. DURING THE TWELVE MONTHS ENDING DECEMBER 31, 2015, THE CONFERENCE BOARD RECEIVED 1689 INFORMATION REQUESTS, AND 1610 INFORMATION SEARCH REQUESTS Form 990, Part VI, Line 3 Delegation of management duties THE CONFERENCE BOARD DELEGATED TO MR. RAINER SCHULTHEIS, AN OUTSIDE CONSULTANT, CONTROL OVER MANAGEMENT DUTIES IN MANAGING THE BRUSSELS OFFICE. Form 990, Part VI, Line 6 Classes of members or stockholders A SINGLE CLASS OF MEMBERS SERVES FOR RENEWABLE (AND STAGGERED) THREE YEAR TERMS AND HAVE THE RIGHT TO ELECT TRUSTEES, AND APPROVE SIGNIFICANT BOARD DECISIONS, SUCH AS A DISSOLUTION OF THE COMPANY. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body A SINGLE CLASS OF MEMBERS SERVES FOR RENEWABLE (AND STAGGERED) THREE YEAR TERMS AND HAVE THE RIGHT TO ELECT TRUSTEES, AND APPROVE SIGNIFICANT BOARD DECISIONS, SUCH AS A DISSOLUTION OF THE COMPANY. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders A SINGLE CLASS OF MEMBERS SERVES FOR RENEWABLE (AND STAGGERED) THREE YEAR TERMS AND HAVE THE RIGHT TO ELECT TRUSTEES, AND APPROVE SIGNIFICANT BOARD DECISIONS, SUCH AS A DISSOLUTION OF THE COMPANY. Form 990, Part VI, Line 11b Review of form 990 by governing body THE CONFERENCE BOARD'S FORM 990 IS PREPARED INTERNALLY BY THE ACCOUNTING DEPARTMENT UNDER THE DIRECT SUPERVISION OF THE CONTROLLER. THE DRAFT FORM 990 IS SENT TO THE CONFERENCE BOARD'S INDEPENDENT ACCOUNTING FIRM, KPMG LLP, FOR REVIEW, AND THEN REVIEWED BY THE CONFERENCE BOARD'S CFO AND LEGAL COUNSEL. SUBSEQUENTLY, THE RETURN IS REVIEWED BY THE AUDIT COMMITTEE. THE FINAL FORM 990, AS FILED WITH THE IRS, IS PROVIDED TO ALL MEMBERS OF THE BOARD THROUGH AN EMAIL WITH A PASSWORD AND URL LINK TO A SECURE WEBSITE PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy THE CONFERENCE BOARD'S (TCB) CONFLICT OF INTEREST POLICY IS DESIGNED TO ENSURE THE HIGHEST LEVEL OF ETHICAL CONDUCT OF PERSONS EMPLOYED BY OR INVOLVED IN THE GOVERNANCE OF TCB IN ALL THAT PERTAINS TO TCB, AND TO AVOID PUBLIC PERCEPTIONS AND FINANCIAL CONSEQUENCES DETRIMENTAL TO TCB THAT COULD ARISE FROM THE MISUSE, OR PERCEPTION OF MISUSE, OF AN INDIVIDUAL'S POSITION OR INFLUENCE. THE BOARD OF TRUSTEES HAS THE RESPONSIBILITY FOR ENSURING COMPLIANCE WITH THIS POLICY, ADMINISTERING THE ANNUAL STATEMENT, AND MAKING DECISIONS AS REQUIRED TO AVOID ACTUAL CONFLICTS OF INTEREST. THE BOARD OF TRUSTEES WILL ALSO REVIEW AND REVISE THIS POLICY AS NECESSARY. ANY BOARD MEMBERS WITH A CONFLICT IN A MATTER REQUIRING ACTION BY THE BOARD ARE PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS OR DECISIONS REGARDING THE MATTER UNDER CONSIDERATION. Form 990, Part VI, Line 15a Process to establish compensation of top management official PERIODICALLY THE CONFERENCE BOARD ENGAGES HEWITT AND ASSOCIATES TO CONDUCT A TIBOR II REVIEW OF THE CEO POSITION AND COMPARE COMPENSATION AGAINST INDUSTRY STANDARDS. THE MOST RECENT COMPENSATION REVIEW WAS CONDUCTED MARCH 2012. THE COMPENSATION ARRANGEMENT FOR THE CEO IS APPROVED BY AN INDEPENDENT BODY AND THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE CEO'S COMPENSATION ARRANGEMENT. THE NEXT REVIEW COMMENCED IN SEPTEMBER 2016. Form 990, Part VI, Line 19 Required documents available to the public THE CONFERENCE BOARD MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part IX, Line 11g Other Fees CONTRACTOR - FEES - Total Expense: 5456413, Program Service Expense: 4453142, Management and General Expenses: 1003271, Fundraising Expenses: ; OTHER PURCHASED SERVICES - Total Expense: 1802302, Program Service Expense: 1470913, Management and General Expenses: 331389, Fundraising Expenses: ; CED PROG EXP - Total Expense: 678610, Program Service Expense: 553834, Management and General Expenses: 124776, Fundraising Expenses: ; MANAGEMENT CONSULTING SERVICES - Total Expense: 661734, Program Service Expense: 540061, Management and General Expenses: 121673, Fundraising Expenses: ; CUSTOMIZED PROMOTIONS - Total Expense: 272702, Program Service Expense: 222560, Management and General Expenses: 50142, Fundraising Expenses: ; PURCHASED RESEARCH - Total Expense: 263936, Program Service Expense: 215406, Management and General Expenses: 48530, Fundraising Expenses: ; Other fees for services - Total Expense: 229135, Program Service Expense: 187004, Management and General Expenses: 42131, Fundraising Expenses: ; RECRUITMENT EXPENSES - Total Expense: 101622, Program Service Expense: 82937, Management and General Expenses: 18685, Fundraising Expenses: ; RELOCATION EXPENSES - Total Expense: 20825, Program Service Expense: 16996, Management and General Expenses: 3829, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Pension related changes - 6109430; Foreign Sub Adjustment - -1214550; Effect of Foreign Currency Translation - 104147; Acquisition of CED - 3389938; Part I, Lines 8-22, Prior Year Column The amounts reflected in the Prior Year column are much smaller than the amounts reflected in the Current Year column because the Prior Year reflects the Stub Year amount from 7/1/2014 to 12/31/2014 Part III, Line 3 Effective January 1, 2015, TCB acquired the District of Columbia nonprofit organization, the Committee for Economic development ("CED"). CED is a nonprofit, nonpartisan, business-led public policy organization that delivers well-reasoned solutions to our nation's most critical issues. CED's programs and activities have continued under the auspices of TCB, Part VI, Line 4 EFFECTIVE JANUARY 1, 2015, TCB ACQUIRED THE DISTRICT OF COLUMBIA NONPROFIT ORGANIZATION, THE COMMITTEE FOR ECONOMIC DEVELOPMENT ("CED"). CED IS A NONPROFIT, NONPARTISAN, BUSINESS-LED PUBLIC POLICY ORGANIZATION THAT DELIVERS WELL-REASONED SOLUTIONS TO OUR NATION'S MOST CRITICAL ISSUES. CED'S PROGRAMS AND ACTIVITIES HAVE CONTINUED UNDER THE AUSPICES OF TCB. TCB'S CERTIFICATE OF INCORPORATION WAS NOT AMENDED IN CONNECTION WITH THE MERGER. THE SINGAPORE BOARD (SINGAPORE) LTC 8 EU TONG SEN STREET SN EDUCATION/RESEARCH SN THE CONFERENCE BOARD INC C Corporation 91122 58033 1 true TCB FORUM 120 DINSHAW VACHA ROAD CHURCHGATE MUMBAI IN 400020 INACTIVE IN THE CONFERENCE BOARD INC C Corporation 0 10653 1 true TCB CONFERENCE BOARD (INDIA) PRIVATE LIMITED 120 DINSHAW VACHA ROAD CHURCHGATE MUMBAI IN 400020 EDUCATION/RESEARCH IN THE CONFERENCE BOARD (SINGAPORE) LTD C Corporation 237553 95766 1 true false false false true false false false false false false false false false false true false false true false THE CONFERENCE BOARD SINGAPORE R 1302668 AMOUNTS REMITTED TO COVER SINGAPORE EXPENSES THE CONFERENCE BOARD SINGAPORE D 5635878 AMOUNTS REMITTED TO COVER SINGAPORE EXPENSES