03.11.2006
Over USD 80 Million for LWF Projects and Programs in 2005
Total income for the Lutheran World Federation (LWF) in 2005 amounted to USD 93 million compared to USD 102 million the previous year. Out of this amount, USD 11.9 million was allocated to the coordination budget of the LWF Secretariat in Geneva and USD 81.2 million for the LWF programs and projects, according to the recently published LWF Annual Report.Last year, LWF member churches and their related agencies provided financial support amounting to USD 55 million toward the organization's administrative support and programs, together with USD 2.9 million by way of membership fees. Some USD 16 million was received from different governments, and United Nations' agencies gave USD 7.4 million. The remainder came from local income in the field programs, as well as interest earned on short-term deposits.
Total expenditure in 2005 was around USD 92 million, compared to USD 105 million in 2004. Out of this amount USD 12.13 million was used for the Geneva Coordination budget, while USD 79.87 million went to LWF programs and projects. The General Secretariat spent a total of USD 4 million; Department for Theology and Studies, USD 1 million; and Department for Mission and Development (DMD), USD 14 million. The Department for World Service (DWS) expended USD 73 million for its work in 34 countries.
The Geneva Coordination expenditure in 2005 showed a deficit of USD 227,000. Some USD 136,000 was spent on program write-offs, resulting in a total deficit of USD 363,000. These amounts relate to programs and projects of the LWF Geneva Secretariat, as well as of DMD and DWS, but do not cover the so-called B-Budget (Statement of Needs for Programs and Projects).
By the end of 2005, the LWF's reserves amounted to USD 9.67 million. The LWF Foundation - Endowment Fund had an amount of CHF 9.3 million by the end of 2005. Formally established in 1999 to supplement financial support for the LWF's work, the fund's long-term goal is to build its retained assets to CHF 50 million. (341 words)
A breakdown of the LWF finances is available in the LWF Annual Report 2005, which can be downloaded from the LWF Web site at: www.lutheranworld.org/LWF_Documents/LWF-Annual_Report_2005-low.pdf
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