LWF World Service finances in 2020
Zewo certified since 2019, an official Swiss quality certification, LWF-World Service is committed to handling finances with integrity, accountability and transparency. Donors can trust that their support reaches the communities that are most in need. In 2020, LWF World Service’s income was €136 million. 96% of the expenditure was allocated to our operations.
Income for the year was €136 million, representing a reduction of 14% as compared to 2019. The decline is attributed to the operational restrictions caused by the COVID-19 pandemic.
Our total expenditure for the year was €133 million. It represents a 2% reduction from 2019. Coordination expenditure in Geneva was only 4% (5.3 million) of the global expenditure while 96% (127.7 million) of the expenditure was dedicated to field projects.
Disclosure of expenditure classification
In order to provide additional disclosures required by the Swiss ZEWO certification (Zentralstelle für Wohlfahrtsunternehmen), specific schedules have been added to the consolidated financial audit statements.