Annual Report 2023
MAKE CHANGE
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 2023 2023
Strategic Report : Our impact
Our first objective in this period was:
To reduce poverty through outreach, education, and entrepreneurship.
In another difficult year for people in remote area across Cameroon, the cost-of-living crisis left many struggling to afford the basics. Foundation MEM played a key role in supporting those most in need at this time.
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 2023
What did we do:
FMEM SCHOLARSHIP
2 8 Number of recipients Over 3 years
EUR7,285 Cost per recipient Over 3 years
STEM
Priority areas For undergrad or technical studies
Our Aim:
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 2023
W.A.S.H
Delivering services directly
| Number of infrastructures built since 2019 |
Communities (near people’s homes) |
Schools |
|---|---|---|
| Clean water + pump | 8 | 2 |
| Decent toilets | 2 | 9 |
| Good hygiene through | ||
| better facilities | 18,521 | 2,774 |
10,000+ 4200 20,000+
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 2023
The Challenge:
Based on a rapid assessment of the state of secondary and higher education in Cameroon, FMEM pitched a high-level concept for the scholarship fund to the sponsors that highlighted the following:
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§ Cameroon spends 25% less than other African countries on tertiary institutions (World Bank, 2023). As a result, support for students to access tertiary education, such as scholarships, is scarce.
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§ Only 14% of high school graduates can enrol in tertiary education (World Bank, 2023) and an even smaller percentage comes from low-income households.
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§ In FMEM’s partner communities, 90-100% of students in these schools come from disadvantaged communities and low-income households. In these communities and others like it, over 70% of adolescents and young adults are out of school and/or struggle to find employment, due to limited knowledge, education, skills, and opportunities. A 2021 baseline assessment commissioned by FMEM also supported these trends.
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§ This is more accentuated for young girls. Beyond the costs associated with schooling, adolescent girls face additional barriers, particularly at the secondary level, primarily due to the burden of household chores, expectations of marriage, and teenage pregnancies (Sobngwi-Tambekou et. Al, 2022).
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§ At the continental level, major trends in skills gaps in African economies highlight a shortage in Science, Technology, Engineering and Mathematics (STEM) related skills. This trend can be extrapolated to apply to Cameroon (ILO, 2019), and in the context of globalization, can be priority disciplines.
Methodology:
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2023
Independent Auditor’s Report
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2023
Independent Auditor’s Report.
Respective responsibilities of trustees and examiner.
The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act)) and that an independent examination is needed.
It is my responsibility to:
examine the accounts (under section 43 of the Act), to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act), and to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
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which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 41 of the Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act; have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached .
Mr. Owona Godfrey Expert Comptable 24th May 2024
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Financial Statements
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FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 2023
Consolidated Statement of Financial Activities
| Unrestricted funds Restricted funds Total 2023 |
|
|---|---|
| Previous Year | 3,973 3,973 |
| Income from: Donations and legacies Investments Other |
|
| 51,304 5000 56,304 |
|
| 0 | |
| 2,000 | |
| Total Income | 62,277 |
| Expenditure on: Raising donations and legacies Investment management costs |
|
| 1,109 | |
| Raising Funds | 1,109 |
| Net income available for charitable expenditure | 61,168 |
| Expenditure on: Service provision Informing the public about our work WASH and Scholaeship Total Charitable Activities |
|
| 12,374 (4500) 16,874 |
|
| 920 920 |
|
| 40,980 40,980 |
|
| 58,774 | |
| Net (expenditure)/income | (54,274) 500 2,394 |
| Net movement in funds | (51,304) 500 (59,883) |
| . | |
| Total funds brought forward | 0 500 2,394 0 500 2,394 |
| Total funds carried forward |
OUR PARTNERS
FOUNDATION MEM| ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2023