2021 Annual Report

2021 Financials
INCOME STATEMENT
BALANCE SHEET
REVENUE 2021
2020
ASSETS
2021 2020
Sales of handcrafts & food 10,675,357 9,349,688
Shipping / other income 963,254 1,302,249
Contributions 192,741 275,072
Gross Revenue 11,831,352 10,927,009
COGS / producer payments (3,571,499) (3,156,432)
Cash / cash equivalents 3,889,845 3,918,136
Accounts receivable 336,612 236,575
Inventories 1,123,580 1,173,202
Other assets 565,893 605,183
TOTAL ASSETS 5,915,930 5,933,096
Contract services (1,529,107) (1,210,560)
Credit card / bank fees / (840,977) (703,300)
other cost of sales
Net Revenue 5,889,769 5,856,717
EXPENSES
2021
2020
Program expenses 4,212,465 4,341,457
Administrative 1,115,124 675,973
Fundraising costs 21,624 31,926
Total Expenses 5,349,213 5,049,356
CHANGES IN NET ASSETS 540,556 807,361
TOTAL EXPENSES
Administration &
Fundraising
LIABILITIES
Inventory financing payable - 1,204,207
Accounts payable 471,259 291,639
Notes payable 1,778,770 1,750,744
Miscellaneous liabilities 660,453 221,614
Total Liabilities 2,910,482 3,468,204
NET ASSETS 3,005,482 2,464,892
TOTAL LIABILITIES +
NET ASSETS 5,915,930 5,933,096
PROGRAM EXPENSES
Product
development
Contract services /
cost of sales
21%
10%
37%
Program
expenses
Information
technology
3%
20%
27%
Shipping, customs
& duties
Payments to
producers
32%
26% 24%
Sales &
Marketing
Warehouse
& Material
handling
To our customers, partners, donors, investors, volunteers, staff, and board:
We rely on your support and your spirit, and couldn’t do what we do without you. Thank you!
2021 SERRV BOARD OF DIRECTORS
Ron Kruczynski
CHAIR & TREASURER
Bonnie Dahan
VICE-CHAIR
Joseph Lewzcak
SECRETARY
Patti Carpenter
Lora LaDew
Laura Ann Sweitzer
Julio Zegarra-Ballon
Michelle Waite
Donations from our Making
it Matter 2021 Campaign
funded health screenings
along with marketing and
financial literacy training for
70 rural basket weavers in
Uganda. Read more inside!