2002 Summary

Financial Report

Over the past year we have seen a healthy increase, both in our fundraising income and
in the amount available to fund projects in India. Our total project funding was £628,000, a 6% increase on the previous year's total of £594,000.

We now fund 24 different Indian NGOs carrying out a wide range of educational projects spread over six different States and benefiting an estimated 50,000 children and adults.

Our total income was £1,079,000, an increase of 7% over the previous year's total of £1,001,000, This increase was very largely due to the continued success of our door- to-door fundraising campaigns. In all, 1,544 new supporters joined us for the first time, bringing our total number of regular donors to 8,000, and making a total contribution of more than @885,000 per year.

We also conducted our first ever street fundraising campaign which succeeded in recruiting a further 380 new supporters for our work. Over the past year we have also received a number of very generous donations from Charitable Trusts and Foundations, contributing a total of £107,976 for particular projects.

Our administration costs were £112,195, a slight increase over the previous year because we moved offices. Our total UK office administration and fundraising costs represented 25 of the total funds raised, leaving the remaining 75 available for overseas project and education work.

We would like to thank all the individuals, trusts and community groups who contributed to our work over the past year.

Patrick Francis
Finance Executive
Karuna Trust

Incoming Resources

	2002	2001
	£	£
Regular donations	885,246	790,007
Donations from trusts	107,978	135,773
Other income	85,896	75,717
Total incoming resources	1,079,120	1,001,497

Resources Expended

	2002	2001
	£	£
Projects	628,396	594,414
Education & publicity	33,295	23,651
Fundraising	157,351	106,707
Management & administration	113,195	99,977
Total resources expended	931,237	824,749
Net movement in funds	147,883	176,718
Balance at 1st January 2002	436,617	259,869
Balance at 31st December 2002	584,500	436,617

Project Expenditure

Education / Cultural	£302,459
Medical / Health	£18,193
Hostels	£153,129
Self sufficiency	£7,896
Buddhist activities	£146,789

Balance Sheet

Fixed Assets	2002	2001
	£	£
Tangible fixed assets	311,174	286,394
Current Assets
Debtors	206,602	168,855
Short term deposits	333,427	331,291
	540,029	500,146
Current liabilities
Creditors - amounts falling due within one year	28,036	101,403
Net Current Assets	511,993	398,743
Creditors- amounts falling due
after one year	238,667	248,520
Net Assets	584,500	436,617
Capital & reserves
Unrestricted funds	541,731	404,188
Restricted funds	42,769	32,429

Total	584,500	436,617

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