Our financial report: where your money went in 2012

Our financial report for 2012 is now complete, all of a week ahead of the Charity Commission’s deadline (phew!)

We feel it is very important for our supporters to be able to see exactly where the money we raise goes. This is partly why we create financial reports which go into much more detail than is legally required, these are independently examined by a chartered accountant. We have made our financial reports available to view:

View the Ganet’s Adventure School Fund 2012 financial report

View the Ganet’s Adventure School Fund 2011 financial report

Key statistics for 2012

  • We raised over £18,000 during the year
  • For every pound donated in 2012, just 1.4 pence went on our administration costs!*
  • Through our trustees paying their own expenses and the invaluable support of our volunteers, our administration costs were again kept to a bare minimum of just £265 for the year
  • Our fundraising costs were £1,805, which generated funds of £4,439
  • We generated a surplus of £2,341 in 2012 which has helped to provide a vital buffer against unforeseen expenses at the school in Malawi, and provides financial stability for the school

* This does not include any transaction fees incurred during the donation process.

What we achieved with your money

  • We successfully raised funds for a second block of two classrooms at the school, which were completed slightly under budget, and are now in use. We are grateful for grants and assistance for the classrooms from Music Sales Charitable Trust, Kitchen Table Charities Trust, Adsum, the Buchan Family, Durham University Charities Committee, KPMG and Teach a Man to Fish.
  • Meanwhile in Malawi, the school won a Pan African Award for Entrepreneurship in Education from Teach a Man to Fish, which we helped them to enter. This award gives the school real credibility as well as being a boost to morale.
  • In addition to contributions towards salaries and other ongoing running costs, grants made to the school in Malawi by Ganet’s Adventure School Fund included paying for the rent of two houses from February to May, so that the Standard Eight pupils could board close to the school while they revised for their Primary School Leaving Certificate Examinations (PSLCE). 14 out of 18 pupils passed the examination, comfortably beating the national pass rate.

We’d like to thank our volunteers Alex McInerny for drawing up the accounts for us again this year, and Robert Coutts for acting as independent examiner.

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