Financial Statement

The organization is in a strong financial position, with sufficient reserves. Over the past two years, the organization has been cash flow neutral. Due to an extraordinary gift, FY21 had a large surplus. Even though that gift was not replicated in FY22, income still increased by 8%. At the same time, all three programs saw expansions and major improvements that increased overall spending by 60%.

To achieve a balanced budget for FY23 we are planning a 6.5% growth in funding (to $610,000) accompanied by a 7% decrease in spending. Increased funding will come from several new initiatives, including but not limited to: 1) in-country fundraising, 2) increased social media marketing designed to attract new individual donors, and 3) expanded grant proposal writing.

To reduce expenses, we are: 1) holding Sponsorship expenses steady, 2) reducing Model Schools expenses (this was planned as we complete the major infrastructure projects at the four Model Schools, and 3) reducing Tenda Teachers expenses (as we phase out of Wave 1 schools).

If funding increases beyond the current projection of $630,000, we have a list of projects that we would like to implement.

Financial Summary Page

Annual Reports

Our annual reports highlight our program achievements, summarize our financials, and recognize the generosity of supporters and volunteers.  

IRS Forms 990

Project Zawadi prides itself on using donations in the most efficient and effective way possible. Project Zawadi is committed to transparency in all aspects of operations and to honoring the donor rights outlined in our donor relations policy. We encourage you to review our financial statements and to contact us directly at for additional information.

FY2022 - 990 Form
FY2021 - 990 Form
FY2020 - 990 Form
FY2019 - 990 Form
2018 - 990 Form (partial, new June-May fiscal year (FY) adopted)
2017 - 990 Form
2016 - 990 Form
2015 - 990 Form
2014 - 990 Form
2013 - 990 Form
2012 - 990 Form

Project Zawadi is rated highly on both Charity Navigator and Guidestar (now called Candid).