The annual growth of Cultivate reflects some exciting trends!
- Our income has always covered our costs and allowed us to expand our programs as demand grows. We anticipate that 2020 will be a tremendous year of expansion for us, as we begin to offer our programs to organizations, as well as continue to expand our programing across the globe.
- We are working diligently to diversify our sources of funding, so our programs have stability that allows for even greater impact.
A few explanations:
- From 2016 to 2019, all donations that were designated to our trainees' programs were disbursed to those programs and are reflected as regrants. Eight percent of all designated donations were retained by Cultivate to cover credit card processing fees, bank fees, transfer fees, accounting, and other costs associated with accepting, managing, and disbursing those funds. Due to our limitations, we retired this program at the end of 2019. Our trainees' programs that were using this service were given referrals to other fiscal sponsorship organizations that we trust so that their programs would not be affected by this change.
- We know that strong, well-managed nonprofits aim for 80% of all their expenses to be allocated to their programs and that is our goal. As any startup organization, it takes more resources to initiate an effort than it does to maintain it. So we ask that you be patient with our administrative expenses, knowing that we're working diligently to lower these costs and focus our efforts on our programs.