The 2008 economic crisis has created a potent mix of new challenges for the Global Fund for Women. Global financial insecurity has had serious gender-specific consequences. Studies have shown that women experience higher rates of unemployment, poverty, violence, and an increasing lack of control over economic and financial resources. The crisis has highlighted the need for philanthropic organizations and individuals to do more to fund women’s human rights groups and provide the necessary resources to build and sustain women’s movements.
At the same time, funders are finding it difficult to continue their level of support as they see sharp declines in their assets and net worth. The Global Fund for Women understands that investing in women is critical to ensure a more just, secure, and sustainable world and that proper stewardship and management of resources is vital to the continued support of the global women’s movement.
As a mission-based, values-driven organization, the Global Fund has made the commitment to our grantee and donor partners to keep its grant-making at the same level as last year. In order to accomplish this, the Global Fund employed several measures including scaling back its non grant-making budget by 10%, utilizing a progressive and socially responsible investment policy to guide the investment of its assets, and implementing salary freezes for executive staff.
In fiscal year 2008–2009, the Global Fund awarded 650 grants totaling over $8.56 million*. Through proper stewardship of resources throughout the fiscal year, the Global Fund’s financial position remained strong with a net asset balance of approximately $19.6 million at fiscal year end. The Global Fund recorded approximately $13.7 million in support and revenues, while expenses at $14.8 million, remained relatively flat compared to last fiscal year. The variance in revenue and expenses were due to losses on endowment investments. The Global Fund continues to have strong expense ratios with program expenses representing 76% of total expenses.
Download Financial Statements and Report of Independent Auditors for the years ended June 30, 2009 and 2008. (PDF 92 KB)