We proudly present to you our annual report for the fiscal year which ended on June 30, 2019. We are proud of the fact that we are transparent in how we use the funds so generously entrusted to us by our sponsors and donors. We take financial responsibility seriously, and we willingly open our books to all of the major charitable monitoring groups, including Charity Navigator, which has awarded us a 4 Out of 4 Stars rating for the last three ratings cycles, and Charity Watch, which identifies Children Incorporated as a Grade-A, Top-Rated Charity.
We proudly present to you our annual report for the fiscal year which ended on June 30, 2019. We are proud of the fact that we are transparent in how we use the funds so generously entrusted to us by our sponsors and donors.
Furthermore, we are meticulously audited each year by the highly reputable accounting firm, Yount, Hyde, and Barbour, and they regularly report their findings to our Board of Directors, which then provides expert oversight as I lead Children Incorporated.
For this fiscal year, Children Incorporated ended with a net assets balance of $6,913,196, the highest for our organization since the economic collapse of 2008. Of this total asset value, nearly 35% of the funds are donor-restricted, which means that due to the specific way they were given to our organization, we may not use them as part of our operating budget. Those funds are reserved, per instructions from the donors, for purposes outside of our standard child assistance programs.
Of the unrestricted funds entrusted to Children Incorporated, I am happy to report that the organization has again exceeded all expectations for the amount that is actually used to benefit children, families, and communities. By being frugal, keeping our staff small, and paying close attention to what we spend, Children Incorporated allocated approximately 87% of the funds we received to support child program services. The funds not only supported child sponsorship, but also a host of individualized special needs as they came to our attention.
As Children Incorporated enters its 56th year of service, our vow to you is simple. We will do everything within our power to improve the lives of as many children and young people as possible. We will continue to offer them education, hope, and opportunity. We, as an organization, will remain focused on doing what we know and understand, yet we will be open to new possibilities so that more and more needs may be met.
Thank you for your loyal support.
From the heart,
Ronald H. Carter
President and Chief Executive Officer