As part of our Corporate Social responsibility, our company, Holt Industries is supporting two charities throughout the course of this year. Majority of the charities do a commendable job in improving the lives of the less privileged in the society, preservation of the environment as well as in the fight for human rights. Our choice of which charities to support are however guided by their efficiency in resource utilization as well as the social influence they command. Based on these criteria, the recommended charities are Goodwill Rescue Mission and Earthjustice. Goodwill Rescue Mission strives to empower the homeless, the poor and addicts through transformational programs and compassionate care aimed at giving them a chance to see hope for the future and to be productive members of the society. This is in line with our corporate mission of transforming the society to become a better place. A progressive society will in turn imply that our firm will have an expanded market for its products. Earthjustice on the other hand fights for the preservation of the natural environment. It is an advocacy group that uses legal means to challenge decisions by corporate as well as the government that violates and destroys the environment. Environmental preservation and protection is one of our key corporate missions. Supporting this charity is therefore in tandem with our core values and mission. The two charities are well known and esteemed in the country thus eliminating the worry associated with ghost organizations. Their track records are also well proven, each excelling in its specific field ("Charity Navigator - Rating for Goodwill Rescue Mission", 2016). Our support for these two charities will put our firm at a favorable frame in the market and thus market our brand name.
Financial Analysis of Goodwill Rescue Mission
The above charts represent the total revenue collected by Goodwill Rescue Mission in a given year as well as how this revenue is divested in the various programs in running the charity. A vast majority of the funds collected is invested in the running the charity programs (51.2 %) whereas administrative expenses take up 15.2 % of the revenues. Fundraising events constitute 33.5% of the expenditure of the charity. From this breakdown, there is a high efficiency in terms of resource allocation as majority of the funds are invested in meeting the core functions of the charity. A mere 15.2 % of the funds are invested in meeting recurrent expenditure needs.
Annual income and expenditure breakdown
An analysis of the income and expenditure over a four year period reveals that the charity has an excellent track record of its resource utilization. In each of these years, the organization saved at least a quarter of its revenues after accounting for all its expenditure needs. In 2012, the company received its highest revenue during the four year period amounting to $2.8 million. Of this, $1.56 constituted the expenses for the year. A total of $2.002 million was collected in the year 2013 of which $1.295 was expended. In 2014, $1.8 million was received as revenue, $1.2 million of which was expended. The year 2015 saw the least revenue collected totaling $1.7 million of which $1.086 million was expended. This four-year breakdown of income versus expenditure indicates that the firm has an impressive reputation for resource utilization ("| Goodwill Rescue Mission", 2016).
It is my hope that this financial analysis as well as the criteria for the selection of the charities will provide insightful information of the choice of charities to support to foster the progress of our company.
| Goodwill Rescue Mission. (2016). Grmnewark.org. Retrieved 1 June 2016, from https://www.grmnewark.org/
Charity Navigator - Rating for Goodwill Rescue Mission. (2016). Charity Navigator. Retrieved 1 June 2016, from http://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=8002
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Potential Charities to Support. (2019, Sep 27). Retrieved from https://speedypaper.com/essays/potential-charities-to-support
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