Allocation of Funds | 10% Administrative, Development Expenses | 90% Program Expenses
Note: Management and administration expenses ($32‚498‚987) + Program development expenses ($8‚476‚662) / Total Revenue ($413‚371‚608) = 9.91%

 

Programs by Group | 36% Global Learning and U.S. Education and Workforce Development Group | 19% Social Change Group | 19% Global Health, Population, and Nutrition Group | 26% Leadership and Institutional Development Group

The Academy for Educational Development is an independent‚ nonprofit‚ charitable organization that is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Contributions to AED for its exempt purposes and mission are tax deductible. AED is also registered with the U.S. Agency for International Development as a private voluntary organization. Approximately 80% of AED’s programs are implemented internationally‚ 20% in the United States.

A careful and efficient steward of donor resources‚ AED maintains very low administrative costs‚ with 90% of our expenses going toward programs and 10% allocated for administration and development. AED’s financial statements are audited on an annual basis by KPMG PEAT MARWICK LLP.

This Statement of Financial Position as of December 31‚ 2008‚ and Statement of Activities for the year ending December 31‚ 2008‚ are part of AED’s financial statement. The complete audited statements are available upon request to AED’s chief financial officer.

AED‚ consistent with its mission to make a positive difference in people’s lives‚ has in place high standards of ethical conduct and fiscal responsibility. These standards guide all of the decisions and judgments we make. In particular‚ we have instituted measures for safeguarding the integrity of our financial resources. We encourage alerts of any unethical conduct. The number of the toll–free Ethics and Compliance Hotline‚ which operates 24 hours a day‚ seven days a week‚ is: 1–800–318–7153.

 

 

STATEMENT OF FINANCIAL POSITION: Year Ending December 31‚ 2008
ASSETS  
Total current assets $98‚036‚642
Property and equipment‚ net 9‚615‚733
Long–term investments 13‚545‚079
Other assets 738‚438
TOTAL ASSETS $121‚935‚892
LIABILITIES  
Total current liabilities $76‚691‚585
Accrued deferred rent 7‚588‚809
Net assets–unrestricted 37‚425‚563
Net assets–Board–designated 136‚105
Net assets–temporarily restricted 93‚830
TOTAL LIABILITIES AND NET ASSETS $121‚935‚892

 

 

STATEMENT OF ACTIVITIES: Year Ending December 31‚ 2008
REVENUE  
Studies and projects $411‚802‚610
Investments (6‚044‚868)
Restricted contributions 2‚656‚631
Other 4‚957‚235
TOTAL REVENUE $413‚371‚608
EXPENSES  
Program services $369‚866,913
Management and administration 32‚498‚987
Program Development 8‚476‚662
Other 114,627
TOTAL EXPENSES $410‚957‚189
CHANGE IN NET ASSETS  
Unrestricted $2‚425‚714
Temporarily restricted (11‚295)
Net assets‚ beginning of year 35‚241‚079
Net asseets‚ end of year 37‚655‚498