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 |