FINANCIAL STATEMENTS

In the interests of transparency, the Amici di Adwa Association publishes in this subsection its finacial statements.

Here is a brief introduction for the data reading.

PROCEEDS

The fund-raising pro Adwa is divided between sponsorship and projects.

The first one gives support to almost 1700 children entered into the program, which guarantees them a dignified life in family, education, food, basic care.

Fundraising for projects focuses every year on the needs or emergencies reported by local partner, the Kidane Mehret Mission and Hospital. Mostly comes from private individuals‘ donations, but we have recently received an important support from the US foundation “THE LEONA M. AND HARRY B. CHARITABLE TRUST”.

Another important contribution comes from an Italian tax which each Italian citizen decides to offer to Charitable associations. The State returns the amounts after about 2 years from the time of selection of the taxpayers.
Every year, the percentages are redefined by the Government in charge.

An additional income come from fundraising events held in the city of the Association or in other Italian cities thanks to the contribution of some groups of volunteers. These events are specified in each exercise statement.

EXPENSES

Operating expenses of the Association are usually below 10% of the funds raised.

They consist in staff costs (three part-time employed and a collaborator), 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 Kidane Mehret mission .