FY2006 Financial Highlights

From the desk of the Executive Director World Vision International - Singapore

Dear Supporter of World Vision

I am pleased to report yet another excellent year, FY 2006, which has been full of blessings. World Vision continues to help poor children, their families and communities with projects that alleviate poverty and provide opportunities for them to have life in its fullness. 

Our donations and child sponsorships continue to rise, showing your support and endorsement of our ministry to the poor and oppressed. It is also amazing to note that, though we are a Christian organization and faith motivated, over 90% of our ADPs reside in Muslim or Buddhist dominated regions and countries. We are pleased that World Vision is well regarded to be an effective channel of blessings.

Total donations received for our FY 2006, which spans 1 October 2005 to 31 September 2006, was S$ 6,938,279. This is approximately the same as FY 2005, with the latter period recording an extraordinary donation of S$1.3 million given towards the Asia Tsunami Response.

FY 2006’s total expense for the same period was S$ 1,313,295, or 18.9% of donations received. The total expense comprises of S$ 726,034 in administrative expenses (office rent, salaries, etc), S$ 580,599 in communication-related expenses, and S$ 6,662 in public information expenses.

World Vision continues to give sponsors and donors the assurance that more than 80% of the donations received will be directed to the field, and that the local office would endeavor to keep our cost as low as possible. For donations designated for disasters & emergency relief operations, we continue to channel the full 100% received to the field.

As for public fund raising, our office’s applications to the authorities for a fund raising permit i.e. public solicitation, continues to be rejected since 1995, when the Charities Act was promulgated. Nevertheless, I marvel at the magnanimity of our private sponsors and corporations.

Meanwhile, besides statutory financial audits, World Vision has voluntarily conducted several Internal Controls audits around our processes, including major projects like the Christmas Catalogue. For this Christmas project, we received over S$ 568,000 in 2005 and over S$823,000 in 2006.  We shall post these additional audit reports on our web.

On behalf of World Vision, I would like to thank you for sharing and journeying with us in this quest to help those less fortunate than us.

May God bless you!

Sim Cher Young