Since it was first established in 2008, Results for Development (R4D) has grown from expenditures of $3.6 million to expenditures of more than $26 million.
Our most significant growth can be attributed to grant revenue — from $12.5 million in the first year to $32.8 million in annual revenue for 2017, with a significant amount of multi-year awards from some of the largest and most prestigious foundations in the world. Contract revenue has also significantly increased, and now represents a significant source of revenue that allows for growth and sustainability.
Financial Statement for Fiscal Year 2018
| FY18 | |
| ASSETS | |
| Cash and cash equivalents | $10,122,534 |
| Grants and contracts receivable | $16,031,141 |
| Prepaid expenses | $258,745 |
| Property and equipment, net | $1,579,808 |
| TOTAL ASSETS | $27,992,228 |
| LIABILITIES AND NET ASSETS | |
| Liabilities | |
| Accounts payable and accrued expenses | $650,121 |
| Accrued payroll | $457,046 |
| Grants payable | $294,075 |
| Deferred revenue | $689,572 |
| Deferred rent | $2,994,364 |
| TOTAL LIABILITIES | $5,085,178 |
| Net Assets | |
| Unrestricted (deficit) | ($2,578,150) |
| Temporarily restricted | $25,485,200 |
| TOTAL NET ASSETS | $22,907,050 |
| TOTAL LIABILITIES AND NET ASSETS | $27,992,050 |
