2020 Annual Report
Highlights of Financial Report 2020
Sincere Thanks to All Donors.
On behalf of the Silver Lining Foundation, I sincerely thank all donors who trust and support us in the past year. Despite the pandemic's challenges in 2020, we set out to ensure they won't impact Silver Lining's sponsored orphans or cause interruption to the rehabilitation children with special needs. We work in earnest to reduce our expenditure from the start of the year; however, we found only a few items to cut back because Silver Lining always spends over ninety percent of its budget on children. Mainly they are the revised or canceled activities due to the pandemic like parent-child and summer camps. We are grateful for everyone's selfless help and generous donations that every child will not forget, propelling Silver Lining forward. We can continue to pass on blessings and hope because of your walk with us.
In 2020, the Silver Lining Foundation received a total of about US$2.5 million in donations. Sustainer contributions accounted for 22% of total receipts, corporate and institutional donations accounted for 52%, and individual contributions accounted for 26%. (Including epidemic prevention donation rece ipts of about US$53,982)
As the epidemic spread and got worse in March 2020, we made prompt adjustments to trim our general budget, cut back on staff and daily expenses, and drastically curtailed the optional meeting events. We also reiterated to our project sites the need to conserve funds while upholding the pr inciple to safeguard the basic living requirements.
The final expenditure is 14% lower than in 2019. Nevertheless, due to Myanmar's urgent needs in the past year, Silver Lining decisively pursued the Pyin Oo Lwin Grace Youth Shelter School Project and the Yangon Student Center Project in 2020, supporting forty-two students living in poverty. It is to abide by our mission to look after children in distress. The Myanmar Silver Lining Family Village sheltered 148 orphans in 2020. In addition, in light of severe pandemic outbreaks in some regions in Myanmar, we delivered emergency living supplies and epidemic prevention materials to impoverished families in Yangon and its neighborhood, valued at about US$50,000 in 2020. Orphan Sponsorship and Rehabilitate Together projects accounted for 26% and 32% of expenditure, respectively. Administrative and fund-raising spending accounted for only 3% and 1%, respectively. Therefore, the recipients directly receive 96% of the total spend.
We sincerely appreciate and value your trust in us. We promise to be a good steward and strive to ensure the efficient use of funds and resources. In light of a slowing world economy, your love and commitment to orphans and children in special needs stand tall. We are so honored to become your partner to walk with the most vulnerable and helpless people in society, regardless of nationality or race. It's our conviction that your contributions will change the lives of children with special needs and orphans. Changing lives is inde ed the most incredible comfort.
Finance Director, Silver Lining Foundation
Financial information for the year ended 31 December 2020 was audited by HLM CPA Limited.