Historical Financial Comparisons
This page provides detailed comparisons of our (1) Overall Expenses, (2) Direct Program Expenses in Nicaragua, and (3) Donations and Fundraising Income from 2012 to 2016.
Summary of VISEDAL’s Finances, 2012–2016
- We’ve increased our overall expenses as we’ve substantially expanded and enhanced the services we provide to our scholars in Nicaragua.
- In Nicaragua, our largest increases in expenses have come from adding staff members and renting a facility for our scholars to study, play, and engage with staff.
- We continue to devote the vast majority of our expenditures to direct program expenses in Nicaragua (2012 – 83%, 2013 – 91%, 2014 – 91%, 2015 – 87%, and 2016 – 87%).
- Our overall donations and fundraising income has grown each year. Increases in fundraising income have been our biggest driver, while we’ve also seen growth in the number of sponsors in our Scholar Sponsorship Program.
Financial Growth, 2012–2016
Overall Expenses, 2012–2016
The increases in our overall expenses in 2014 through 2016 have been driven by growth in our direct program expenses in Nicaragua, reflecting the substantial expansion of the services we provide. These additional services include a new facility in Managua, optional counseling services, birthday gifts, an additional staff member, our Breakfast Program, and our College Scholars Program. We are thrilled to offer these critical services to our scholars.
Fees and legal expenses were also higher in recent years. One factor is that we are now an official NGO in Nicaragua. While official NGO status does involve compliance expenses, we see it as an investment in VISEDAL and our scholars because we can now purchase real estate and vehicles, formally employ staff, and receive donations from Nicaraguan businesses.
The other factor in our increased fees and legal expenses is that in 2015 we added insurance for our organization and board of directors in the United States. We believe this provides important protection for VISEDAL and allows us to continue serving our scholars well.
Direct Program Expenses in Nicaragua, 2012–2016
The substantial growth in direct program expenses in Nicaragua reflects the continued improvement and expansion of our support for our scholars.
Staff compensation has increased as we added a full-time psychologist who provides optional counseling services to our scholars. In addition, we moved into a new Casa VISEDAL in 2015, which offers more room for our scholars to study, use our computer lab, play, and engage with staff. This contributed to an increase in our office expenses.
In 2015 we also introduced our Breakfast Program, which provides each scholar with a meal when he/she visits Casa VISEDAL. We also introduced our College Scholars Program, in which our scholars who are in college tutor our younger scholars and assist our staff at Casa VISEDAL in exchange for a small stipend.
Direct Program Expenses as a Percentage of Overall Expenses,
We strive to maximize the impact every dollar we receive has on our scholars. While indirect costs (e.g., becoming an official NGO in Nicaragua) can provide major benefits, in general, direct program expenses are the most efficient method of supporting our scholars.
We increased the percentage of our overall expenses that are direct program expenses from 83% in 2012 to 91% in 2013 and 2014. We experienced a slight reduction, to 87%, in 2015 and 2016, as we incurred expenses related to complying with Nicaraguan laws as an official NGO and securing insurance for our organization and board of directors in the United States. As we move forward, we will continue to work diligently to ensure our donations make the maximum impact on our scholars.
Total Income, 2012–2016
Our overall donations and fundraising income continues to grow each year. We are extremely grateful for all of our supporters.
General donations (Initiatives Fund) are mostly one-time contributions and therefore often fluctuate from year to year. Our Staff Fund has provided crucial funding over recent years and allowed us to increase our staffing in Nicaragua.
Net Income, 2012–2016
Thanks to the generosity of our donors, we have been able to save money over the years. We’ve used this surplus to add more scholars to our program, expand the breadth of services offered to our scholars such as counseling and Casa VISEDAL, and establish a reserve fund.
While 2016 was the first year our expenses exceeded our income, the difference was slight. We remain in solid financial condition.