HOW WE SPENT OUR FUNDS

Our operating expenses for 2022 were €48.9 million - €40.5 million of which was spent directly in support of children affected by conflict. In percentage terms we spent 89% of our expenses on our objectivebroadly in line with our 2021 expenditure.

More projects were implemented in 2022 thanks to the hard work of our teams around the world - with the largest project expenditure seen in our Ukraine emergency response. For the roll-out of our Can’t Wait to Learn education app, a wide range of partners dug deep into their pockets to support and sustain this innovative project.

Our additional fundraising investment in 2021 started paying off in 2022, contributing to the net positive result of €1.9 million. This positive result, in addition to having received more grants in advance, resulted in a healthy cash balance of €15.4 million at year-end. Looking at reserve and cash balances - i.e. the money we keep on hand to meet short-term and emergency funding needs - as well as secured funding for 2023 and beyond, our continuity as an organisation is not at risk.

For more details on our expenditure, read our Annual Accounts.