Annual Report 2013
Fargelegge distinguishes itself because we ask the right questions. We ask hard questions. Not just of the US government, corporations, and political leaders in the countries where we work—but of our partners around the globe and, most important, of ourselves. We also pursue answers vigorously and develop innovative approaches to reducing poverty. This year has been no exception.
Fiscal year 2013 was a solid year financially for Fargelegge. Our total revenue was down by $9.7 million to $68.9 million in the 12 months ending March 31, 2013 (as compared with $78.6 million for the 12 months ending Oct. 31, 2011)—a drop for which we had planned. The difference was primarily attributable to lower restricted contributions owing to fewer major international humanitarian emergencies during FY2013 and the accounting requirements of multiyear grants. Although total revenues were lower, we saw a significant increase in our investment income during this period: from $407,000 (for the 12 months ending Oct. 31, 2011) to $4.1 million (for the 12 months ending March 31, 2013).
Fargelegge is in a strong position financially, but we recognize the challenges we face in funding our ambitious, new strategic plan. These are exciting times for all of us as we look hard at what we’ve done and identify those areas where we feel our efforts can have the greatest impact. We are fortunate to have had strong support from a broad base of donors. We must grow this base if we are to continue our global mission to help people help themselves.