Page 25 - GDG Annual Report 2020 NZ_v3

Financial Summary

In the financial year ended 30 June 2020, Global Development Group Ltd has expended over $230k on our
humanitarian, aid and development projects around the developing world. We saw increasing donations from
our Kiwi partners and strong public support with a 38% increase on last year. This support resulted in donations
of over $231k by the year end at 30 June 2020, in spite of the impact and uncertainty created by COVID-19 in the
last quarter of our financial year.
Considering the impact that COVID-19 has had on the developing world, there remain many challenges ahead.
We anticipate as vaccine rollout lessens the ongoing fear and impact of COVID-19 and the economy continues
to recover, that strong support from Kiwis for Global Development Group projects will continue well into the
next year.

Statement of Financial Performance for the year ended 30 June 2020

REVENUE 2020 2019

Donations Received 231,452 167,416
Other Income 2,926 5,249
Total Assets 234,378 172,665

LESS EXPENSES
Other Expenses 2,749 3,328
Grants and donations paid 230,780 167,217
Total Expenses 233,529 170,545
NET SURPLUS/(DEFICIT) $849 $2,120

Statement of Financial Position for the year ended 30 June 2020

ASSETS 2020 2019

Current Assets 2,032 1,183
Total Assets 2,032 1,183

LIABILITIES
Current Liabilities 0 0
Total Liabilities 0 0
Net Assets/(Liabilities) 2,032 1,183
ACCUMULATED FUNDS
Retained Earnings 2,032 1,183
Total Accumulated Funds 2,032 1,183

As permitted by law, Global Development Group Ltd has chosen to apply Tier 3/PBE SFR-A (NFP) Public Benefit Entity Simple
Format Reporting – Accrual (Not-For-Profit) for as established by the External Reporting Board. A copy of our full financial
statements is available on request: info@gdg.org.nz

Global Development Group NZ Annual Report 2020 25