The 2025 annual report is published alongside the audited financial statements from Hartwell & Rowe LLP. The short version: programs reached 224,400 people across ten countries, income was $5.4 million, and $4.12 million — 80% of all spending — went to programs.
Two figures deserve a second look. First, the reserve grew to $280,000, roughly three weeks of operating cost, which is still below our own six-week floor and is the board's first budget priority for 2026. Second, fundraising spend rose to 9% of total spending as the monthly donor program grew; the ratio is reviewed every quarter and explained in the report's finance section.
The report follows the same format as previous years: program results first, including the two indicators that missed target, then the full financials, then governance. Everything on the Transparency page — allocation by year, revenue by source, audit notes — is drawn from the same dataset the auditors signed off.