15 Jul Financial statements
With a view to transparency, the associazione Amici di Adwa publishes this subsection their balance sheets.
Here is a brief introduction to the reading of the data.
The fund-raising pro Adwa is divided between sponsorship and projects.
The first gives continuity to help almost 1700 children entered into the program, which guarantees them a decent life in family, education, food, basic care.
Fundraising for projects each year focuses on the needs or emergencies reported by the mission Kidane Mehret. Mostly it’s a collection of one-off donations by private individuals, but in part is also repetitive donations (especially on the project “education”).
Occasionally they added some important disbursements by organizations, companies, foundations.
Another important contribution comes thanks to donations, donated by so many friends through tax returns. The State pays the amounts after about 2 years from the time of selection of the taxpayers.
Every year, the quantitative limits and the percentages are redefined by the Governments in Office.
An additional item entry comes from the proceeds of fundraising events held in and around 100 by the Association as specified in each exercise.
There are also contributions by some groups of volunteers present in other places in Italy.
Operating expenses of the Association usually are below 10% of the funds raised.
Consist of staff costs (from September 2016 the Secretariat has grown from 3 to 2 employed part-time), rent and utilities, computer costs, postage and print to send the information and photos of the children up for adoption expenses for material purchase for the mission, etc.
Then at least 90% of the money raised is sent each year to the mission Kidane Mehret.
Here are downloadable PDF budgets:
- Bilancio riclassificato 2013 (con confronto sul 2012)
- The report annexed to the budget 2013
- Relazione del revisore del conti 2013
- Reclassified balance sheet 2014 (with discussion on 2013)
- The report annexed to the 2014 budget
- Auditor report of Auditors 2014