Financial overview for the year ending 30 June 2023
The following financial statements have been prepared in accordance with the requirements set out in the ACFID Code of Conduct. For further information on the Code please refer to the ACFID website www.acfid.asn.au
Kyeema Foundation’s income consists of grants from institutional donors, donations from corporates and individuals, and revenue generated from fundraising activities. Revenue was recorded at $1,747,528 for the year, representing an increase of 24% on 2021-22, predominantly driven by the Corporate partnership and the WWF NbS program in the Pacific.
In 2022-23, Kyeema had a total expenditure of $1,757,394 up 23% compared to 2021-22. This was primarily due to Corporate partnership activity that commenced in 2019-20 and the WWF NbS program in the Pacific commenced in 2021. We continue to run a lean operation, with a low proportion of expenditure directly relating to administration costs at 3.5% and program support costs at 16.6%. We keep our fundraising costs low at 0.01% of overall expenditure.
We will continue to pursue an income diversification strategy moving into 2023-24 with the goal of long term sustainability. This will be driven by a focus on new partnerships, activities, and public fundraising. The Board and management at Kyeema continue to closely monitor the organisation’s financial situation to maximise our contribution to achieve our mission. The above revenue and expenditure graphs represent our various components of income and expenditure as a proportion of the totals. Each category is adapted from the summary financial statements on the following pages and is based on the definitions described in the ACFID Code of Conduct.
For Kyeema’s full financial statements from the 2022-23 year, please contact kyeema@kyeemafoundation.org or visit our Annual Report page to view the full pdf version of the 2022-23 report.
During the financial year, the agency had no Income or Expenditure for Political or Religious Adherence Promotion activities. The above figures have been extracted from the Audited Financial Statements for the year ended 30 June 2023. For a copy of this full financial report, please email us at kyeema@kyeemafoundation.org.
At the end of the financial year, Kyeema had zero balances in Current or Non Current Other Financial Assets, Non Current Trade and Other Receivables, Non current Investment Property, other Non current Assets, Current and Non current Interest Bearing Borrowings, Current and Non Current Other Liabilities.
Note on 2022-23 Cash Movements
Designated purpose funds were raised for:
1) The Rural Poultry Centre (RPC) in Malawi, which was established in early 2013 as an affiliate of the International Rural Poultry Centre, a subsidiary of the Kyeema Foundation (http://www.ruralpoultrymalawi.org/). The RPC exists to promote the needs of smallholder poultry farmers throughout Malawi and to raise livelihoods and contribute to improved nutrition in rural areas of Malawi. RPC adopts a keep-it-simple philosophy with an emphasis on effective support at the grass roots level. Presently, there is no other local organisation dedicated to village poultry. RPC has a Board of Trustees to oversee the overall governance and policies of the organisation.
