Results for Children

Letter from Sarah Gillman, Chief Financial Officer and Treasurer

2010 was a strong year financially for Save the Children USA, as the agency realized an increase in revenues, a net operating surplus and an increase in overall net worth.

Save the Children’s operating revenues totaled $542.53 million in 2010, representing the highest level in our history and a 22 percent increase over 2009. This growth was fueled by two emergency initiatives—the Haiti earthquake and Pakistan flood responses—which drove over $113 million of the agency’s financial activity and strong private giving. Contributions and private grants accounted for $273.66 million, or 50 percent of revenues. Support from the U.S. government came to $159.16 million for grants and an additional $26.93 million for food aid, totaling $186.09 million, or 34 percent of revenues.

Agency spending for the year totaled $527.17 million. Approximately one-third of programmatic spending was related to emergency response activities, with nearly one-quarter allocated for education and 20 percent for health and nutrition programming, respectively.

With operating revenues exceeding operating expenses by $15.36 million, Save the Children finished the year with a net operating surplus. Of this amount, $12.27 million is restricted to specific programmatic activities, and these funds will be spent to benefit children in future years. The remaining unrestricted surplus of $3.09 million will serve as an important financial resource for 2011 as the agency participates in the launch of Save the Children International programming. 

Unrestricted net assets totaled $107.76 million in 2010, up $5.12 million from 2009, and total net assets rose 17 percent to $179.24 million. Such increases reflect gift and bequest inflow, investment performance, and the operating surplus, offset by currency exchange activities.

Also considered an important measure of financial health, for the eighth straight year, Save the Children directed 90 percent of overall expenses to programs. And for the sixth straight year, the agency kept the private cost to raise a dollar below 10 cents. Save the Children continues to place near the top of nonprofit organizations in such metrics.

Save the Children enters 2011 financially well positioned to weather any further economic instability and support continued growth to best meet the needs of children worldwide.

Sarah A. Gillman

Vice President, Finance and Information Management

Chief Financial Office and Treasurer