A Note from the Treasurer – January 2016
IN THE FISCAL YEAR 2015 – 2016, our Foundation raised USD 143,328.69, roughly 55% from the United States and around 45% from Europe and Asia. We thus missed the annual budget by only USD 6,671.31. As in previous years, a few long-time supporters made again significant contributions to our fund raising. Also, there are now more than a dozen donors who contribute every single year since the foundation was established in 2005.The cost development was highly satisfactory as well. Total expenses dropped from USD 3,431 last year to USD 2,346 in the current fiscal year. As a result, our efficiency ratio increased from 96.3% to 98.4%, which is well beyond our target of 97%. In other words, we are able to spend 98 cents on every dollar donated for our children.
The foundation focused last year on the completion of the Admission House which accommodates newly arrived street children for up to three months. We also contributed to hiring an additional social worker. The work for the school building for the Hijas girls, which was originally scheduled to start in 2016 was postponed to 2017. Total spend for 2015-2016 was thus lower than anticipated and amounted to only USD 66,458. The remaining funds of USD 77,523 will be used to financing the Girls’ School in 2017. The budget for the fiscal year 2016–2017 remains unchanged at USD 150,000 which we are confident to reach. Our target efficiency ratio remains unchanged.
—HUGO BANZIGER, Treasurer
The Charity Commission for England & Wales – http://www.charitycommission.gov.uk