Audited Reports Completed

We are pleased to report that the Financial Statements have been audited and are available to read on our site at this link:  Financial Statements.
Please note that during the Fiscal Year Ended June 30, 2011, Management, General and Fund Raising Expenses were 5.46% of all expenses incurred and only 4.35% of total donations received in that fiscal year.  These percentages have increased this year over last year (3.78% of all expenses incurred and only 1.76% of total donations received in the fiscal year ended June 30, 2010) because:

• We had to write off a couple of Endowment pledges ($3,025) that had been previously recognized as income.
• Travel expense increased by $5,500 primarily because the Orphanage Director came to the US 3 times instead of once.
• We incurred audit fees of $4,800 whereas these were previously donated services.