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2004 Summary
Income and expenditure
During the past year the Karuna Trust was able to increase its grant expenditure by 5% to a total of £902,949. This enabled us to fund a number of exciting new proiects as well as maintaning our commitments to our long-term partner organisations.
2004 was a difficult year for our fundraising. However we managed to slightly increase our income to £1,130,608 compared with £1,129,044 in the previous year. We now have more than 8000 individual regular donors Who contribute 88% of the charity's income and nearlv 50 charitable trust supporters.
Administration costs of £97,037 were lower than the previous year's total of £105,817. Fundraising costs have decreased from £154,583 to £124,314. The accounts presented here are extracted from the full audited accounts,
Expenditure
Project Expenditure: 74%
Fundraising: 11%
Administration: 8%
Grant Management: 4%
Publicity: 3%
Project Expenditure
Education and Culture: 64%
Buddhist Projects: 18%
Self Sufficiency: 16%
Health: 2%
Income and Expenditure Statement
| 2003 | 2004 | |
| £ | £ | |
| Incoming Resources | ||
| Regular donations | 997,067 | 968,985 |
| Donations from trusts | 77,939 | 92,449 |
| Donations | 55,602 | 67,610 |
| Total incoming resources | 1,130,608 | 1,129,044 |
| Resources Expended | ||
| Project Expenditure | 902,949 | 858,032 |
| Education & Publicity | 36,148 | 33,315 |
| Fundraising | 124,314 | 154,583 |
| Management & Administration | 97,037 | 105,817 |
| Total resources expended | 1,160,448 | 1,151,747 |
| Net movement in funds | -29,840 | -22,703 |
| Balance at 1st January 2004 | 561,801 | 584,500 |
| Balance at 31st December 2004 | 531,961 | 561,797 |
Balance Sheet to 31 December 2004
| Fixed Assets | 313,077 | 320,480 |
| Current Assets | 503,337 | 521,922 |
| Creditors | -284,453 | -280,605 |
| Net Assets | 531,961 | 561,797 |
| Represented by: | ||
| Reserves | ||
| Unrestricted funds | 474,515 | 519,891 |
| Restricted funds | 57,446 | 41,906 |
| Reserves | 531,961 | 561,797 |
Project Funding
We would like to thank our many individual and institutional donors for their continued support. We have been able to fund a record number of overseas projects and training initiatives over the past year. It has been an exciting year with Karuna's project focus shifting increasingly to helping our partners to develop the skills they need to run their own organisations and projects. We funded a total of 28 partner organisations, benefiting an estimated 20,000 adults and children.
The total project funding was £902,949, up 5% from the previous year's total of £858,032. Several long-running projects were completed, including a hostel for girls affected by the Gujarat earthquake, and a vocational training centre for children in the very deprived state of Bihar. We also started several new projects, including a rehabilitation project for runaway girls in Mumbai and a school in Sikkhim.
Strategic Review
At the end of 2004 the Trustees agreed to undergo a strategic review of all the Trust's activities, timed to coincide with the 25th anniversary of the founding of the charity. The aim of the review will be to increase the effectiveness of all the aspects of the Trust's operations.