The year 2024 saw an increase in individual donations, bringing our total income to $1,123.55. This increase, though still modest, allowed us to cover key expenses, which totaled $720.04, again largely directed toward website maintenance and phone services. This left us with a net balance of $403.51, a step toward greater financial stability. As we continue expanding access to more people in need, we count on our friends and partners to step in even more generously. Your support is vital in ensuring that we can extend our impact and serve even more individuals in the years ahead.
In 2023, Opened Hands Inc. operated with a total income of $863.59, sourced entirely from individual donations. Despite the financial limitations, we remained committed to our mission, ensuring that crucial operations continued. Our total expenses amounted to $783.80, primarily covering website maintenance and phone services. This left us with a net balance of $79.79 at the end of the year. While financial resources were limited, we stretched every dollar to maintain our outreach and operations, relying on the dedication of our volunteers and partners.
Download the Opened Hands Inc Financial Statement 2023
Friends and Partners,
We hope this message finds you well. As the stewards of your generous donations, we would like to provide you with a brief summary of our organization’s financial statement for the year 2022.
Total Income: In 2022, our organization generated a total income of $1,548.86. This revenue was entirely sourced from individual donations, as we did not receive any corporate donations, grants, membership fees, or interest earned during the year. Additionally, we did not organize any events or fundraisers.
Expenses: Our total expenses for the year amounted to $1,813.55. These expenses were distributed across various categories, including operational expenses such as website maintenance ($772.20) and phone services ($126.72). We also invested in our virtual food bank outreach campaign, which cost $318.
Furthermore, we allocated funds for research projects ($351), business cards ($100.70), t-shirts ($66.64), and a thank you video for our donors ($78.29).
Net Balance: As you can notice, this year, our expenses exceeded our income, resulting in a deficit of $264.69 for the year 2022.
Moving forward, we will need to consider strategies to increase our income and diversify our funding sources, as well as explore ways to reduce our expenses where possible. Your support and guidance will be invaluable in helping us achieve financial stability and continue making a positive impact through our organization’s initiatives.
Please feel free to reach out if you have any questions or require further clarification. We appreciate your continued commitment to our non-profit organization.
