INTRODUCTION TO THE FINANCIAL REPORT 2024
The donation of shares received in 2021 has been recognised at fair value on the date of receipt . These shares have been classified under financial fixed assets and are measured in accordance with our investment policy . Any subsequent changes in value are accounted for in line with prevailing reporting standards . INCOME AND EXPENDITURE COMPARED WITH PRIOR YEAR 2023 Our income and expenditure were 55% and 43% higher , respectively , than prior year . Total income increased due to expanded donor engagement and program scale - up , while expenditure rose proportionally , driven by intensified program delivery . Administrative and operational costs decreased moderately , reflecting adjustments to enhanced compliance standards . RESERVES AND EQUITY The reserves of Young Africa International are divided into : Continuity reserve : to ensure the continuity of the foundation . Designated funds : which are donor funds allocated to specific activities stipulated by the respective donors . The continuity reserve rose by €152,517 from €110,080 in 2023 to €262,597. Designated funds decreased from the restated €129,981 in 2023 to €119,304 in 2024. The total equity increased from €212,682 to €354,522 during the year under review . FUNDRAISING Fundraising efforts in 2024 showed significant progress , reflecting a strong commitment to resource mobilisation , donor engagement , and diversification of funding sources . The organisation successfully deepened existing partnerships while exploring new opportunities across local and international donor landscapes . With lessons learned and strategic plans in place , the organisation is well - positioned to sustain and expand its impact through diversified funding streams . COMMUNICATION In 2024, communication activities were strategically aligned to enhance the organisation ’ s visibility , engage stakeholders , and support the delivery of key programs . The team focused on clear , consistent messaging to promote transparency , build trust , and amplify impact across audiences .
The 2024 Finance Report relates to Young Africa International , which consists of Stichting Young Africa ( Stichting ), based in the Netherlands , consolidated with Young Africa International Africa Hub Trust ( The Hub ) and Sutus ( Pvt ) Ltd ( Sutus ), both based in Zimbabwe . Included in the Hub financial report are the activities undertaken by a new entity in Zambia , called Skills to Live Zambia ( Pvt ) LTD This was created in 2023 to continue our ongoing interventions in Zambia . The majority of funds we received were deposited into the Stichting bank accounts in the Netherlands , for onward disbursement to The Hub , Affiliates and partner organisations . By consolidating the Stichting accounts with those from The Hub , Sutus , and Skills to Live Zambia all activities undertaken by Young Africa International are herein presented . In August of 2024, supported by the Mastercard Foundation , the Youth Employability Booster ( YEB ) Project started , aimed at providing vocational , digital , and entrepreneurial training to 18,300 young Nigerians over a four - year period , with a strong emphasis on inclusivity , especially for women and individuals with disabilities . RATIO BETWEEN EXPENDITURE ON OBJECTIVES AND MANAGEMENT AND FUNDRAISING EXPENDITURE Our ratio between expenditure spent on objectives and those spent on Management and Fundraising reduced from 90.9% last year to 87.8% in 2024. Strengthening our federation remains one of our Strategic Objectives through investing in future growth to have a positive impact on even more beneficiaries across a greater footprint in Africa . INCOME AND EXPENDITURE VS BUDGET Our income and expenditure were both 59% of the budgets , respectively . We received just over €7,000,000 in 2024, but as per our accounting principles , the income recognised for the year was €3,967,607, 41% lower than the budget . Of the amount received €3,372,019 was funding for future multi - year projects . This funding will be recognised in future years . The organisation remains in a strong financial position going into 2025, with key learnings around cash flow timing and project scheduling set to improve future budget accuracy . The recruitment ratio has been 5.4% vs . a budget of €6.5 million .
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