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2007 Summary
Income and Expenditure
The Trustees are happy to report that in 2007 we raised a total of £1,543,513, an increase of 12% on the previous year. We were able to contribute £1,309,978, or 81% of our total expenditure, to our overseas work, enabling us to help an estimated 373,545 boys, girls and adults in South Asia to transform their lives.
The vast majority of this fundraising income came from regular gifts from our loyal individual supporters. Many of these supporters also responded very promptly and generously to a special appeal in autumn 2007, when it became clear that we had overcommitted to overseas project expenditure.
The increase in our income came largely from new grants from the Big Lottery and the UK government (DFID) for education and advocacy projects for deprived ethnic Tibetans in the Indian Himalayas. This is a funding stream that we hope to develop much further over the next few years.
Income and Expenditure Statement
| 2007 £ |
2006 £ |
|
| Incoming resources from generated funds: | ||
| Voluntary income : | ||
| Donations from individuals | 1,166,701 | 1,109,020 |
| Big Lottery and UK government (DFID) Grants | 214,091 | 84,448 |
| Charitable Trusts | 147,296 | 175,277 |
| Investment Income | 15,425 | 11,731 |
| Total incoming resources | 1,543,513 | 1,380,476 |
| Resources Expended | ||
| Cost of generating funds | 245,964 | 234,664 |
| Payments of overseas project grants | 1,309,978 | 1,074,376 |
| Governance Costs | 60,784 | 76,240 |
| Total Resources expended | 1,616,726 | 1,385,280 |
| Net movement of funds in the year | -73,213 | 4,805 |
| Balance at 1st January | 514,472 | 519,277 |
| Balance at 31st December | 441,259 | 514,472 |
Balance Sheet at 31st December 2007
| 2007 £ |
2006 £ |
|
| Fixed Asset | 284,514 | 285,192 |
| Current Assets | 389,789 | 488,510 |
| Creditors | -233,044 | -259,230 |
| Net Assets | 441,259 | 514,472 |
| Represented by : | ||
| Reserves | ||
| Unrestricted funds | 284,441 | 273,039 |
| Restricted funds | 156,818 | 241,433 |
| Reserves | 441,259 | 514,472 |
Project Expenditure
In 2007 Karuna worked with 50 different partner organisations in India, Bangladesh, Nepal and Tibet, whose projects reflected our mission: to support and enable the most disadvantaged children, women and men in South Asia to meet their needs, access their rights and participate fully in society.
The projects focus on providing access to education and legal representation to people from the poorest, most marginalised sections of society, including the Dalit (so-called “untouchable”) people of India, and the tribal communities of the Indian Himalayas and the Chittagong Hill Tracts of Bangladesh.
Karuna aims to form strong, long term partnerships with our project partners as we believe that this is the most effective way of helping communities make progress out of poverty. For this reason we also provide training and capacity building support to a number of our partner charities.
On behalf of all of our partners and beneficiaries we offer our heartfelt thanks to all the individuals, charitable trusts and foundations that have supported us over the past year.
| EXPENDITURE | % |
| GOVERNANCE COSTS | 4 |
| FUNDRAISING AND PUBLICITY | 15 |
| PROJECT EXPENDITURE | 81 |
| Project Type |
£ |
% |
| Education | 435,193 | 33 |
| Child Access - hostels | 259,068 | 20 |
| Capacity Building | 123,722 | 9 |
| Cultural & Self Expression | 96,016 | 7 |
| Womens Enpowerment | 114,574 | 9 |
| Advocacy | 141,831 | 11 |
| Buddhist Projects (funded separately through earmarked donations) |
139,513 |
11 |