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2024 2023$ $Reimbursement of expenses to the Chief Executive Officer (%u201cCEO%u201d)6,539 4,9153A. Related party transactions and transactionsThe association paid individual expenses incurred by office bearers for services provided to the association, either by reimbursement of the office bearer concerned or by direct payment to a third party. The aggregate amount of those expenses are as follows:3B. Key management compensation2024 2023$ $Salaries and other short-term employee benefits 348,512 338,551Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly. The above amounts for key management compensation is for the Chief Executive Officer.4. Donations2024 2023$ $Tax-deductible donations (1) 111,330 151,570(1) The association enjoys a concessionary tax treatment whereby qualifying donors are granted 2.5 times tax deduction for the donations made to the association. This status is effective from 6 August 2021 to 5 August 2024, and has subsequently been renewed to 31 March 2028 under the Charities Act 1994.5. Government grants2024 2023$ $SIAS Operating Activities (a) 1,304,000 1,267,000Others (b) 98,317 113,6181,402,317 1,380,618(a) The funding received is from the Monetary Authority of Singapore (%u201cMAS%u201d) is for SIAS Operating Activities, and is subject to compliance with terms and conditions set out in the Letter of Offer by MAS.(b) Included is the recognised income from the MAS amounting to $33,900 (2023: $52,200) for SIAS Analysis of Annual Reports (%u201cProject AAR%u201d).Financial Statement89 25TH ANNUAL REPORT | 2023 - 2024