CONSOLIDATED statement of activities
INFLOW
Uganda Enterprise Income Donations Individual Businesses, Non-Profits, Church Partners Shine Partners Fundraisers Other Income Social Impact Investing* TOTAL INFLOW
2,912,587
1,048,520 1,392,745 258,349 1,517,473 219,803 1,200,000
$8,549,477
Uganda Enterprise Income 34% Donations 28% Fundraisers 18% Social Impact Investing 14% Shine 3% Other Income 3%
OUTFLOW
Program Expense General & Administration Fundraising Capital Development TOTAL OUTFLOW
3,802,106 366,118 613,215 2,772,161
$7,553,600
Program Expense 50% Capital Development & Depreciation 37% Fundraising 8% General & Administration 5%
*For the first time, Musana took on Social Impact Investing Loans in 2022, to be used for capital construction in Uganda. These loans are uncollateralized, low-interest loans, which include financial incentives to payoff early and to perform to measurable standards. The Musana boards in the U.S. and Uganda approved these loans as a way of increasing the speed of construction in both Kaliro and Kamuli, allowing both campuses to be completed approximately 2 to 3 years earlier than without the loans.
Musana is comprised of two separate legal entities that each maintain their own financial records; in 2024 Musana will add a third legal entity, Musana UK. Although there is some overlap, program activities are run by the non-governmental organization (NGO) registered in Uganda, recorded in Ugandan shillings, and the Administrative & General and Fundraising activities are recorded by the Colorado non-profit corporation Musana Community Development Organization (MCDO). This financial report is a consolidation of both entities unless otherwise specified. All amounts are in U.S. dollars. Ugandan shillings have been converted to U.S. dollars at the exchange rate in effect at the end of each year. Both entities are currently under audit for 2023. All 2023 financial data is therefore unaudited.
Charity Navigator has awarded Musana their highest honor, 4-Star Rating for Accountability & Finance.
Capital Development includes one-time spending to acquire land and build quality infrastructure at new locations, as well as capital improvements in existing locations.
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