Comparison with previous years The following table shows the summarized profit and loss statements for the last three financial years of CfC. All figures are in Australian Dollars.
Income In the last year CfC‘s gross income has decreased with almost 40% because of a drop in sales from$ 197,321 to $165,325. Compared to the 2009 – 2010 income last years income is still $40,000 higher. However, in the last financial year the funds acquired through grants, fundraising and donations have increased. Compared to 2009-2010 these sources of income have increased dramatically to $ 69,829 (329%). This is due to the fact that we received very few grants in the 2009-2010 financial year. Compared to 2010-2011, this amount grew by $ 12,954 (17%), due to successful fundraising campaigns for the Micro Businesses and scholarships, Gone Cyclin‘ and a grant from Australian Ethical Investments.
Expenses Last year showed a decrease of $58,659 (31%) in expenses. Our expenses in this period are almost completely related to the decrease in the production of carpets. As a result the total costs of the organization have moved much closer to the costs of 2009-2010, when the total costs were $110,909 The only two groups where costs increased are the development expenses and the other costs. The development expenses are up 40%, to $15,783 compared to last year. This can be explained by the Micro Credit loans that have been provided to our families as well as the expenses for the scholarship program. The other costs increased because this Financial year for two major reasons –
CfC purchased a container on behalf of a supporter, who provided CfC with the funds for this purchase Costs were incurred in order to send our CEO on a 3 month tour through different states within Australia.
Net Income In the last three financial years, CfC‘s net income has been positive. All these profits have been or will be reinvested in our production and development programs.
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EMPOWERING COMMUNITIES | CARPETSFORCOMMUNITIES.ORG | 2011/12