Tesfazghi Foundation Financial Statements
Overview
The Tesfazghi Foundation is committed to transparency and accountability in its financial operations. Our financial statements provide a comprehensive overview of our financial performance and position, ensuring stakeholders are well-informed about our fiscal health.
Financial Highlights
- Revenue: Detailed breakdown of revenue sources, including donations, grants, and other income.
- Expenses: Comprehensive list of expenses, categorized by program, administrative, and fundraising costs.
- Net Assets: Summary of net assets, including unrestricted, temporarily restricted, and permanently restricted funds.
Statement of Financial Position
- Assets: Overview of current and non-current assets, including cash, investments, and property.
- Liabilities: Detailed list of current and long-term liabilities.
- Net Assets: Breakdown of net assets, highlighting changes from the previous year.
Statement of Activities
- Revenue and Support: Detailed account of all revenue and support received during the fiscal year.
- Expenses: Comprehensive breakdown of expenses, categorized by function and nature.
- Change in Net Assets: Summary of the change in net assets, including any significant variances.
Statement of Cash Flows
- Operating Activities: Overview of cash inflows and outflows from operating activities.
- Investing Activities: Summary of cash flows related to investments and capital expenditures.
- Financing Activities: Detailed account of cash flows from financing activities, including loans and repayments.
Notes to Financial Statements
- Accounting Policies: Explanation of the accounting policies used in preparing the financial statements.
- Significant Transactions: Details of any significant transactions or events that impacted the financial statements.
- Commitments and Contingencies: Information on any commitments or contingencies that may affect the Foundation’s financial position.
Transparency and Accountability:
At Tesfazghi Foundation, we believe in transparency and accountability. Here’s how we use your donations:
Program Funding: 95% of donations go directly to our programs and services.
Fundraising Costs: 5% is allocated to fundraising efforts to ensure we can continue our mission.
2023 Financial Summary:
Total Revenue: $7,000.00
Total Expenses: $5,000.00
Net Income: $2,000.00
2023 Assets and Liabilities:
Total Assets:$7,000.00
Total Liabilities: $0.00
Donor Privacy:
Your privacy is important to us. We do not sell or share your personal information with third parties.
How to Donate:
Making a donation is easy and secure. You can donate online through our website, by phone, or by mail. Every contribution helps us continue our work.
Contact Information
For any questions or further information regarding our financial statements, please contact:
- Email: in**@te*******.org
We are dedicated to maintaining the highest standards of financial integrity and transparency. Thank you for your continued support of the Tesfazghi Foundation.
Thank You:
We are grateful for your support. Your generosity helps us make a lasting impact in the communities we serve.