Financials Financial information of the Foundation

With the exception of direct expenses such as bank service charges, postage, stationary and annual registration fees of the Foundation, all donations go directly to the students. All advertising costs and other miscellaneous costs are not paid from the sponsor donations, but are borne by other general donations from supporters of the Foundation.

There are no paid staff in the Foundation. All board members and other supporters are unpaid volunteers.

Expense Breakdown of Last Fiscal Year (April 2019 - March 2020)

Total Expenses$57,056.46100%
Program Expenses
   Payments to Students$51,257.38
   Payments to Uni. Students$4778.83
   Total Program Expenses$56,036.2198.2%
Administration Expenses
   Bank Service Charges$281.00
   Printing and Postage$368.98
   Paypal Charges$100.98
   Total Administration$1020.251.8%
Fundraising Expenses$00%

a. Above information has been compiled from the audited financial statements for 2019/2020.
b. All administration expenses ($1020.25) have been paid for through special donations and interest income. No donar/sponsor funds were used for these expenses.
c. Advertising expenses was used to call for student applications in Sri Lankan newspapers. It is not to promote the foundation.