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.
Expense Breakdown of Last Fiscal Year (April 2014 - March 2015)
|Payments to Students||$47,712.00||99.10%|
|Bank Service Charges||$100.14|
|Stationery, Printing, Postage||$21.11|
a. Above information has been compiled based on the audited financial statements for 2014/2015, subject to the following notes.
b. The Advertising expense ($162.32) was used to call for applications in Sri Lankan newspapers.
c. Tax on bank interest ($133.04) was excluded from Total Expenses, as this was not an expense paid from donations.