It’s been a wild and impactful year. In Fostering Hopes Foundation’s inaugural year, expenses were allocated across five main categories: Family/Program Support (₦8,133,200), Logistics (₦2,985,000), Promotion (₦5,026,860), Operational Costs (₦5,619,000), and the Walkathon/Event (₦4,425,000).
During the year, we received donations totaling ₦7,508,235 and internally funded ₦18,680,765 resulting in total expenditures of ₦26,189,000.
A significant portion of the budget was directed toward promotional efforts and logistical setup, which are essential for establishing the foundation of the organization.
The Walkathon also incurred a notable portion of costs, supporting both community engagement and fundraising.
As the nonprofit matures, a larger share of the budget will be allocated toward Family/Program Support, reflecting the organization’s commitment to directly benefiting those it serves.
The initial setup costs, including promotional and operational expenses, are expected to consume less in future years, allowing for a greater focus on delivering programs and services to families in need.
