Financial Information

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.

Efficiency

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).

Transparency

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.

View Africare’s IRS Form 990s:

FY2013
FY2012
FY2011
FY2010
FY2009
FY2008
FY2007
FY2006
FY2005
FY2004

View Africare’s Audited Financial Statements:

FY2014
FY2013

FY2012
FY2011
FY2010
FY2009
FY2008
FY2007
FY2006
FY2005
FY2004

View Africare’s Charity-Watchdog Evaluations:

American Institute of Philanthropy
Charity Navigator

Summary of Most Recently Audited Fiscal Year (2014):

Revenue

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
Special Events $582,553
Combined Federal Campaign $95,860
Interest and Dividends 296,904
Miscellaneous Revenue $405,531
Total Revenue $53,879,574

Expenses

Program Services

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

Supporting Services

Management and General $2,675,682
Fundraising $1,391,418
Total Supporting Services $4,067,100
Total Expenses $56,060,012
Change in Net Assets From Operations $(2,180,438)
Non-Operating Minimum Pension Liability Adjustment $622,295
Non-Operating Realized and Unrealized Gain on
Investments
$959,568
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