Africare understands that donors consider good financial stewardship to be an essential quality of a charitable organization. Africare’s annual reports are available online. Below, find detailed financial information.
We strive to use every donor dollar efficiently, ensuring that the greatest possible assistance — “program services” — reaches the neediest families and communities in Africa.
Using the most recently audited fiscal year (2014), 93% of every Africare dollar spent goes to program services in Africa. Only 7% goes to administration (management, general and fundraising).
Another part of good financial stewardship is transparency. For that reason, Africare’s IRS Form 990s as well as our complete, audited financial statements are available for your review. Africare’s fiscal year is July 1 through June 30. For example, FY2014 was July 1, 2013 through June 30, 2014.
Summary of Most Recently Audited Fiscal Year (2014):
|U.S. Government Grants||$29,863,325|
|Foreign Government Grants||$3,672,770|
|Foundations and Trusts||$3,507,204|
|Contributions and Other Grants||$15,312,065|
|Donated Equipment and Materials||$143,362|
|Combined Federal Campaign||$95,860|
|Interest and Dividends||296,904|
|Health and Water Resources Development||$41,893,870|
|Food Security, Relief and Refugee Assistance||$3,355,724|
|Agriculture and Small Scale Irrigation||$2,612,165|
|Integrated Rural Development||$2,880,018|
|Other Development Programs||$1,251,135|
|Total Program Services||$51,992,912|
|Management and General||$2,675,682|
|Total Supporting Services||$4,067,100|
|Change in Net Assets From Operations||$(2,180,438)|
|Non-Operating Minimum Pension Liability Adjustment||$622,295|
|Non-Operating Realized and Unrealized Gain on
|Non-Operating (Gains) Losses on Foreign Currency Exchange||$72,534|
|Prior Year Adjustments to Indirect Cost Rates||$(306,820)|
|Change in net assets||$(832,861)|
|Net Assets at Beginning of Year||$7,369,724|
|NET ASSETS AT END OF YEAR||$6,536,863|
Header Photo: Alexandra Seegers