113-.'EaL" 2023 DELTA PHILANTHROPIES REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REGISTERED COMPAIIYHUMBER: 1095415l1Ep￿•￿daThd1I￿1•SI REGISTERED CHARTfY IlVllBEL. 1178335 ONTENTS erview ol Delta Philanthropies irperson statement al Health ITransformation & ainable Livelihoods 14 er Relief and Preparedness cacy& Thought Leadership ture. Governance and Management 22 profiles 24 Fln e review 28 OVERVIEW OF DELTA PHILANTHROPIES Delta philanthropies 15 a UK-registered charity that invests in impact and funds human capit21 development in Africa. Founded by the Ma5iyiwa Family in 2017, we co-create, design, and implement pan-African projects focusing on communities, women, and children. VISION To accelerate progress toward inclusive economlc growth and social transforniation. MISSION To help countries in Africa become middle-income economies through human capital developmenL STRATEGY Design, invest and implement projects In four areas critical for inclusive economic growth: Education. Health, Rural Transformation and sustainable Livelihoods, and Disaster Relief and Preparedness. PROGRAM APPROACH Our programmes continue to regard the Charity Commission's general guidance on public benefit and remain comitted to working to benefit communities. Additionally? Delta Philanthropies. Trustees have en￿red that all progrdmmes undertaken in the period under review are in line with our charitable objertives and aim DELTA PHILANTHROPIES RSON ENT CO-FOUNDER & CHAIR MRS H. E. T MASIYIWA Africa's ￿eatest asset and opportunity lies in its people. A healthy and educated population will be best positioned to achieve their potentialand build thè continent of tornorrow. Yet. for example. a child born in Zimbabwe today will be about half as productive when they are an adult a5 they could be if they enjoyed a complete education and full health. Factors outside of theircontrol. such as health. nutrition and the quality oftheir education, are holding them back. Ourwork as Delta Philanthropies has always f¢xused on c105ingthi5gap by fundingsolutions and initiatives thatenable people to reach their potential. sin￿ 2017. we have designed and funded charitable activities and initiative5 critical for inclusive economic growth. from health and education to nutrition and responding to disasters. One constsnt in all ourwork isthe emphasis of puttingcommunities first. listening to theirchallenges. and Co-creatingsolutions that workfor them. Our implementing partne¥. Hieheriife Foundation's expert team5 have deep community connection& These understandings infomi our work- from training healthcare workersto addressing rural food insecurity and funding educattonal scholarship5 underpiningthe incredible successes highlighted in this report. We valuethe power of partnerships to deliver greaterimpacL Each of our projects relies on collaborations with a rangeof tundin& implementin& and technical partners. withoutwhom we could not achievethese resul1& DELTA PHIiANtHROWES Cowfundingfrom like-minded partners has enabled us to scale ourwork and deepen our impart. Technical partners, including govemment rninistries, knowledge inslitulions and focus area specialists. are essential for the expert delivery of our programs. As philanthropis￿ we play a catalytic role. relying on strong partnerships to bring abouttransforniational change in communitie5. A5 you will read in this report. 2023 was another impactful yearacr055 our focus areas. Global Health Ourmaternal and neonatol health investments ensure more women experience safe births and their children survive beyond age five. In the three years since we started this work, we have trained over half ofthe matemitystaff working across 16 principal referral hospitals in Zimbabwe. In 2023, in partnership with the country's Ministry of Health and Child Care, we expanded ourtraining to all 16 hospitals following two years of focLFS on ￿ntraL and provincial hospitals. We also provided crttical care equipmen( consumables. and maint&n3nce services to the 16 institutions. These interventions have resulted in declining institutional maternal and neonatal mortality rate5. UP to 65% in some hospitals. Neglected tropical diseases continue to haunt our communities keeping children from school and adults from work. Delta Philanthropies supports the fight against these diseases in Zifflbabwe. aiming to interrupt schistosomiasis and soil~transmitted helminth transmi55ion by 2027. In 2023, ourfundingfacilitated the development of a five-year NTD Master Plan for preventing. controlling. and eliminating 10 NTDS by 2030. as well as an NTDS Communications Stratsgy focused on WASH and 59cial behaviour change communicatio interventions. Additionally> we funded a demand-led sanitstion program targeting vulnerable households in Manicaland Province. In December2023, Delta Philanthropies proudty joinÈd global partners who togetherplodged us$777 million to combat neglected tropical diseases Btthe Reaching the Last Mile Forum hosted on COP28'5 inaugural Health Day. This landmark commitment aimsto impn)ve the Itves of up to 1.6 billion people. bringing us closer to the ultimate goal of eradicatingthese diseases for good. Ourpledge. over a period of fiveyears. will sUPPOrt expanding a fund dedicated to eliminating river blindness and lymphatic filariasis in Afrio. Rural Transformatlon & Sustainable Livelihoods Oureffort5 to irnprove rural household food and nittritional securtty through our Relmagine RurnlAfric3 IRRAI initiattve saw impressive results in 2023. We trained overlOO.000 smallholder farniers on climate-smart agricultural practices" these aretrchniques proven to increaseyields despite climate change. Ourefforts also boothj livelihoods. through cath crop sales, 12.000 rural households r05efrom extreme poverty. increasing theirdaily income to at least US$2.YJ. DELTA PHILANfHRIJ4ES Disaster Preparedness & Response Aftertwo years of construction. 2023 marked a milestone in ourwork to strengthen Zimbabwe's disaster response and preparedne5S Wlth the completion of the National Emergency Operations Centre. This Centre is an essential piece of infrastructure to improve coordination duringemergerTrcies. It is now in operation under the Department of Civil Protection of the Ministry of Local Govemment. Public Wor*s. and National Housing. Meanwhile. Since February, Zimbabwe. as well as othercountries in the region, has been grappling with a new cholera outbreak. By the end of 2023. Zimbabwe recorded over 14,000 cases and nearly 250 deaths. Our investment in the Public Health Emergency Operations Centre prDved invaluable, acting as the nerve centre forthe country's response. The National Emergency Operations Ceftt￿ and the Public Health Emergency Operations Centre are bmo examplesof the transfomiative impart of philanthropy. Together. these twofacilities will have a lasting impact on how Zimbabwe prepares and responds to health and national emergencies. A51(oncivde. I wanttorecogniseandappreciatethesupportlromourpartnerswhoshare ourunwavetingbellefth Africa's potentlal. l especialty want to thank our communities who continue to trust and encourage us in the workwe do. Mrs H. E. T Ma51yiWa Co-Founder& Chair ¢P¢rT QfihyTrylt•￿1￿￿Y•￿e￿￿•d li 0￿￿[1013 DELTA PHILANTHROPIES 23,1 IGHL4GHT Over 4,571 allhol lima èr in 100 12,000 of patients from I 11111 populati w-incbme ns commurfl disa mbers tr risk man gem l[Ji' i"J J bLOBAL HE A medicallnt•rn checkson a pretenn baby In an Incubatorat Sally mUga￿ Hospltal in Harnre,Zimbabwe Maternal and Neonatal Health sin￿ we began ourwork in matemal and neonatsl health in 2020, we have supported the training Of4￿71 clinical and auxiliary staff. This represents 53% of all rnatemity staff acros$ 16 of Zimbabwe's principal referral hospitsls. In 2023, we partnered with the MOHCC to conducttraining in 9 hospitals. Additionally, we placed fflore critical care equipment, procured consumables and provided equipment maintenance services forall 16 institutions. These interventions almed at saving the lives of mothers and babies have resulted in a decline in the institutional maternal and neonatal mortality rates. up to 65% in some hospitals. We prioritise data-driven decision-making to maximisethe impact ofour intervention5. Our analysis of maternal and neonatsl health indicatordata from the National Health Information System IDHISI for 2020-2023 ievealed that the majority of detiveries159%13nd a significant portion of matemal deaths170%1 and early neonatal deaths175%1 occurwithin five central hospitsls= Sally Mugabe Centr31 Hospitsl. Mpilo Central Hospitsl. United Bulawayo Hospitals. Chitungwiza Central Hospitsl, and Mbuya Nehanda Maternity Hospital. In the year 3head.we will expand ourcapacrty-buildingactivities in these fve hospitals where thÈ nation's most complicated cases arÈtreated. Clinicalstaff TNIII receive trai￿l￿g in theeariy detection and treatfflent of postpartum hemorrhage. a majorcauseof maternal death5 in Zimbabwe. Additionally. hospital equipmenttechnicians will be trained to diagnose and repair faulty equipment quickly. Skill laborBtories will be ethblishedto ensure that pregnantwomen. mothers. and sick babies have access to specialist skills critical for early diagnosis and addressingobstetric complication DELTA PHILANtHROPIES frfj 11 Nurses monitoring preterm babies in the Neonatal Intensive Care Unit INICUI at Mbuya Nehanda Matemity Hospital in Harare, Zimbabwe Neglected Tropical Diseases In 2023. we intensified our fight against neglected tropical diseases INTDs} in endemic communities in Zimbabwe, in partnership with the Ministry of Health and Child Care IMOHCCI and the National Institute of Health Research INIHRI. Ourfundingfacilitsted the development of key national strategic documents, including a five-yeaF NTD Master Plan that will guide in the prevention, control. and elimiw]ation and eradication of io NTDS in Zimbabwe by 2030 and an NTDS Communications Strategythat prioritises Water, Sanitation and Hygiene (WASHI and Social Behaviour Change Comrnunications ISBCCI intervention5 in communitie8 schoo15 and health facilities in endemic areas. With oursupporL MOHCC also developed innovative training tools that integrate WASH and NTDS for use in school and community trainin& We funded the implementation of a demand-led sanitation program in a districtwith low sanitstion coverage in Manicaland Pn)vince. The program aims to drive social behaviour change by promoting communityownership of sanitstion solutions and increasingthe demand for improved sanitation facilsties and services. We supported the training of provincial and district health and hygiene officers. who then provided training to the community- helping them to identify their WASH challenges and develop levant solutioll& Additionally. wetrained community meTv]bers to build model. Iow<05t latrines. resulting in the construttton ofover 100 forthe most vulnerable households in the districL Followingthetsaining, it is expected that every household will own a safe latrinewithin a year. Goingforward. ourgoal is to interrupt the transmission of schistosomiasi5 ISCHI and s0i14rJnsmitted helminths {StH) in select geographies in Zimbabwe by 2027. The dissemination of the results of tho 2021 Geospatial MappingAnalysiS that we funded inforffled 3 revised treatmentstrategythat indi&*esthat at least 5.3 million people requireannual treatment forSCH and STH. DELTA PHIL4NTHROPIES In 2023, our Chairjoined global partners at the Reachingthe Last Mile Forum on the inaugur21 Health Day at COP28 to pledge a transfomiative US$7TI million to end neglected tropical diseases. This included a US$5 million pledge from Delta Philanthropies overthe next five year5 to expand a fijnd dedicated to eliminating river blindlless and lymphatic filariasis in Africa by 2030. One Health Initiative The One Health Initiative seeks to provide high-quality. affordable and actessible primary healthcare to low-income populations in Zimbabwe through a network of franchised clinics located in high to medium-denstysuburbs. In 2023. we funded two clinics in I￿0 provinces in Zimbabwe that provided healthcare Se￿iceS in general prOLti￿. dental practi￿, pharnacy. and surgery to approximately 92.700 cumulative patients. These clinics will provide additional services, such as optometry. youth health and laboratory, in the coming year. We are also lookingto establish an additional clinic in 2024. UIIHINHIIII Anur5e move5 pethatricequipment inthe maternityward * Salty Mugabe Hospholln Harare, ￿rnbab￿e DELTA PHILANTHROPIES 10 A prètrmi baby recovering in an incubatoratsally Mugabe Hospital in Harare.Zimbabwe Amotherholds hernewbornatSaUyMugabÈ H05pitsIiD Harare. ￿MbabWe DELTA PHILAi4fHROPIES Seek, reach, re￿1Ve. Improving health outcomes for mothers and babies Matemalemergencies are a matter of Itfe and death. Every delay in accessing carecan prove to be fatsl foi both the motherand baby. Trouble ￿CUrS when women deiayseeking appropriate medic31 help for an obstetric emergency. taketoo long to reach an appropriate obstetric facility, orsufferdelays in receiving adequate care in health facilities. Delta philanthropie5' fundingfocu5e5 on equipment and training to ensure hospitsls are equipped with the tools and resourcesto provide expectant mothers with adequate Ca￿ when they need it most. A key part ofthe initiative has been the rolloutofthe Emergency Obstetric and Newborn Care IEMONCI, a program designed to increase the numberof skilled attendants within the matemity ward. Unlike traditionaltr3ining programme5, which prioritise nurses and doctors, conversations with patients and staff have highlighted the importance of training non-clinical staff, including security officers and receptionists, noting that they are often the first pointof contacL Research shows that when non-clinical staff are equipped with the basics of a5SiSting pregnantwomen. childbirth mortalities are reduced by up to 5086. At Sally Mugabe Hospital, one of thetwo referral hospttsis in Zimbabwe's capitsl. Har3re. they have seen the progtam's impacL The hospital* matemity ward matron. Sister Rukanva, explained how the trdining has made Itfeeasier for expecting rnothe "Ever sinceourstaff gottrainin& wearefonfidentthat anyone they wme inlo contartwith, as long a5 they are vAthin our premises. can renderhelp. Wl*n expectingrnothers come here,they will bein diff•r•nt 5tate5. and the firstpeNin they ￿me into contartwith should have enough knowledge to make the right(a￿. she said. DELTA PHILANtHROPJES 12 A se¢urityoifi(erche(k5 in a pregnantwoman at Sally Mugabe Maternity HospitaL AUsecurityte3m members are trained in emergeKY￿re DELTA PHIiANtHROPIES 13 ,RURAL STAIN IHOO A¥roup ofwomen rommynityfwmers•tth?iDputs 19 Training and Capacity Building Communits"e5 become more resilient when equipped with the ne￿Sary tools and knowledge to respond to disasters. In 2023, ourfunding sUPPOrted charitsble activities includingtrdining and capaC￿ty buildingthrough drills and simulation5 in six of 19 hotspot districts. reaching over850.000 community members. community leader& teachers and students. The strong collaboration, commitment and ownetship from the government, particularly the Ministries of Primary and Secondary Education IMOPSE) and Local Government and Public Works IMOLGPWI. expanded our impact and enabled us to exceed our training targets. With oursupport, MOPSE prov¢ncial trainers led disaster risk reduction training in schools acros5 Mashonaland West province. developing training plans. mobilisingtrainees and providing monitoring suppott Community Champions atthe heartof disaster response In implementing Disaster Relief and Preparedness program4 Delta Philanthropies takes a community-centred approach. In every community that is considered to be at risk. there is a Disaster Relief and Preparedness Champion. this is a designated person who helps with disseminating critical information to the community and is on standby to alert authorities on any occurrence5 on the ground. Additionally, the community champions help to ensure that information on Dfrsaster Relief and Preparedness is relatabte to the communty. Decent Ncube.was one ofthefirstchampions trained in Bing3. in NorthweSt￿mbabWe. He says the training programme has been transformative for him and his community. "I have galned so much knowledge. There are things we used to takefor grnnted, like fire5, but they can ¢ause terrible damage. l am now more aware. and I take time to teach people in my communlty." he said. DELTA PHILANTHROPIES 20 UAE 12023 Neglected Tropical Diseases Pledging Announcement $777 MILLION REACHINOII,, LAST MILE FORUM 2023 ,1 li :,I 'hDVO LEADERSHIP Wi. I Gl0balpartnerob￿StsP pledglng momentatthe Reachln%thÈ L75t Mile Forum at COP28 in Dub•i. UAE Delts Phitanthropies is gaining increasing recognition in its thought leadership and advocacy efforts as our Patrons are acknowledged on various platfornis fortheir philanthropic work. Furthemiore. as we continue to collaborate with I1￿￿4nded philanthropic leaders and organisations. we are able to draw attention to cruclal human capital development &ssuessuch as gender. health. education. systems change and the rolethat philanthropy and diaspora giving can play in development. Notsbie engagements Tn 2023 included our chairpe￿On. Masiyiwa. shapingcomiersations on philanthropy. soci31 impxt and the futureof giving atthe Skoll World Forum in April. at several events on the sidelines of the United Nations General Assembly IUNGA} Meetings in September and atthe Reaching the Last Mile Forum atCOP28 in December 2023. DELTA PHIiANTHROPI 21 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charity is a private limited company e5tabli5hed by Memorandum of Incorporation and Article5 of Association dated 8th 5eptember2017. according to the Laws of Eng13nd and Wales. The Company is registered with Companies House IRegistTation No. 109541511 and with the Charities Commission {Charity No.1178335). The Charity was established with an initial gift from FoundingTrustee Mr Strive Masiyiwa. Method of appointment of Trustees The founding documents provide for a minimum of three Trustees with no maximum. although the Board has determined that there should be no more than seven Trustees for Èase of convenin& Trustees are appointed foran initial period of three years, afterwhich time they may put themselves fO￿ard for re-appointment. Trustees will be comprised of executive. nonexecutive and independent non-executive members. and all a required to disclose any relevant interests, including conflicts of interest, real or potential. and registerthewn with the Board and. in accordance with the Trust's policy. to withdraw from decisions where a conflirt of interest arises. The Board. as a whole. is responsible for nowninating individuals for elettion to the Board and forfilling vacancies on the Board. The Trustees consider appointments recruited fortheir knowledge. empathy and experien￿ of the Company and its mission and to ensure the sknlls and composition of the Board and succession planning is optimised. Any Trustee may propose an individual to be considered bythe Board if the individual iswilling and eligible to act as a Ttustee. New Trustees may also be Sought by open advertisement orthrough a dialogue wtth prospective interested parties who respect the ethos and commitmentofthe Company and its charitable objertives. All Trustees gwe oftheirtime freely and do not receive any remuneration. Specific expenses paid to Trustees aredisclo5ed in the notesto the accounts. DELTA PHIiANTHROPIES R*portoliheTfurteEs%f iheyeirthThdedJi L￿￿ts*t1p1S 22 Induction and training of Trustees Prospectrve TnJstee5 are oriented to the details of the Charities founding document and the obligations it requires of Trustees as well as to the purpose and work of the Company. Literature and project vistts will be made available to andlorarranged fornew Trustees in orderto enable thern to experience the projects and highlightthe purpose. objertives and work of the Twst and lay outthe responsibllltles and duties of a trustee. As required by local law, the Board may provide continuing education for Trustee5, either individually or as a group. Related parties The Charity has a"sisterf entity with the same name and objectrves registered independently as Delts Philanthropie5 Trust, a charitable organlsation in Zimbabwe. Delta Philanthropies Trust has worked in collaboration with the Charity on special projects focused on Rural Transformation and Sustainable Livelihoods initiatives, including smallholderfarmertraining. installation of solar mini-grids and investments in sealing poultry farming. These initiatives aimed to address food insecurity. develop thriving agricultural enterprises. and increase household incomes in nJral communities in the southern region of Zimbabwe. The operating environment in Zimbabwe continue5 to face economic challenge5 such a5 liquidity and currency exchange volatility- Delta Philanthropies continues to grow its partnership relationships with both funding bodies 3nd implementing organisations in orderto grow its capacity to achieve maximum impactthrough collaborative sUPPOrt and collective. coordinated action. OurTrustees are unpaid and details of trustee expenses and any related party transactions are disclosed in note 8 to the accounts. Risk management The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate contmls are in place to provide reasonable assurance against frnud and error. The Trustees recognisethat exchange rate fluctuations and exchange control regulations may result in funds raised andl ortrnsferred between countrie5 and to beneficiaries may be differentto those anticipated 3nd/or budgeted for. The Trustees have wiewed this risk and established a policy to manage rapidly changingeventswherever possible whilst reLAininga focus on mission and the change enabled by the fundingit provide& DELTA PHILANtHROPIES 23 BOARD OF TRUSTEES Strive Masiyiwa is the Founderand Chairman ofthe Econet Group? pan-African telecommuniotions. media, and technology company. He seJves on several international board5. including Unilever. National GeogTrphic Society. Asian Society and the Global Advisory boards of the Council on Foreign Relations and Stsnford University. Stiive is a former board member of the Rockefeller Foundation for 15 years and Chairman EmeritU5 of the Alliance fora Green Revolution in Africa IAGRA). He previouslyserved on the Africa Progress Panel and was a juror on the HiltDn Humanitarian Prize. krf STRIVE MASIYIWA Foundwond Paiyon T5itsi Ma5iyiwa is an African philanthropisL social entrepreneur, and champion for genderequality. In 1996. she co-founded Higherlife Foundation with her husband, Strive. The foundation works across education. health. food security, and disaster preparedness to supportAfrican countries to achieve upper-middle income status. In 2017. Tsitsi established Delta Philanthropies as a vehicle for impact investment and grant-making. She is the Chair of Higherlife Foundation and Delta Philanthropies. Tsitsi is atso the Chair of Co-lmpact and the Chair of END Fund. As a resultof her work and experience establishing and growing Higheriife Foundation overthe last twenty-six years. Tsitsi has become an advisor and thought partnerto universities. national leadeFS. and social entrepreneurs on issue5 of education, health. leadership development. gender. and youth empowerment. TSITSI MASIYIWA Founderandchalr Bernard Chidzero Is a Co-founder and Managtng Dlrertor at Agis Investments. Before startingAgis, Bernard was a Partneratthe Monitor Group Ilatermonitor Delottte} where he led the fim's advisory attNities in Africa. Pfior to joining the Monitor GfOUP, Bemard established and led the Intemational Finance Corporztion's (IFC) Advisoryservices forSub-SahaT3n Africa. Bernard is a St￿ngadVoCate fora new paradigm of philanthropy in Afrtca- one that merges thegoals and aspirations of philanthropis￿ corporatiOll5i governments, and civil society into sustainable solutions to Africa's poverty. econownic growth. and global competitiveness challenge BERNARD CHIDZERO DELTA PrllLANTHROPIES 24 Rudo Kayombo is the Regional Directorof BRAC Afrfca based In Nairobi, Kenya. She has held leadership roles in national and international NGOS, including most recently as Chief Operations Officer at Food forthe Hungry IFH). Previously, she was the Executive Director of ONEAfrica. Prior trj joining ONE Africa. she was the Country Directorforworld Ifision in Zimbabwe and Uganda. Direttor of Advocacy. Communications and Education with World Wislon UK. before being appointed Regional Directorfor Southern Africa forworld Wision International. Rudo is a human rights lawyer by profession and has a Master of Arts in Public Policy and Administration from the University of York. RUDIJ KAYOMBO Dr Petsr Mana5a Mbizvo is a medical practitioner bu$in¢ssman and entrepreneur. He holds a Bachelor of Science degree in Medical Sciences from Edinburgh University and a Bachelorof Medicine and Bachelor of Surgery degree fmm the University ofzimbabwe. Dr Mbizvo has extensive experience in the medical 5ertor and is committed to using his expertence and expertise to contribute to the strategic development and good governan￿ of Delta Philanthropies. He is a member of the Zimbabwe Medical Association. the College of Primary Care Physicians of Zimbabwe. and the Private Hospitals Association of Zimbabwe. He 5its on the boards of Medical Air Rescue Services, The Diagnostic Imaging Centre. Maisha Health Fund. and MEDSOLVE Ltd. PETER MBIZVD Petronella Maramba is a trained lawyer> genderartivist and academic. She has served in various capacities forover 25 years in the development sector focusing on gender equity, faith and development and corporate culture. Previously, she worked with UNICEF, Women in Law and Development in Africa IWILDAF) and the International Labour Organi5ation IILOI on academic research. which continues to provide invaluable insights on women's and girls. rights and issues. Ms Maramba is passionate about workingwith young people and is a strong advocate forequal representation of women and girt PETRONELLA MARAMBA DELTA PHILANTHROPIES 25 EXECUTIVE MANAGEMENT Ellthbeth Tanya Masiyiwa is a prominent leader in philanthropy and socialentrepreneurshlp. she believes in and is passionate aboutthe transformative power of education in communities. Asthe President and CEO of Delts Philanthropies, Elizabeth oversee5 the philanthropic efforts of the Masryiwa frdmily. In 2016, she founded Akello, an African company that uses technology to provide learningand teaching resources to students and classrooms across the continent. In 2020. Elizabeth estsblished the Simba Preparatory School, an early childhood center In Domboshava. Zimbabwe. to showcase a betterrnodel for earlychildhood education in rural areas. Elizabeth is a non-executive directoron the ts)ards of Econet Wireless Zimbabwe and Ecocash Holding5 Zimbabwe. two ofthe largest listsd companies on the Zimbabwe Stock Exchange. In 2023, Elizabeth was appointed Commissionerofthe Commonwealth Scholarship Commission. ELIZABETH TANYA MASIYIWA Presidetrt&CEO Zvichapera Katlyo 1$ the Group Chief Executive Officer (GCEO). He oordinates innovation and solution design acros5 Delts Philanthropies. program wod( and investment a￿ets. He provides leadership to and ovetsees program execution. He has over 20 years of experience in investment banking and pn)jectfinance. corpordte strategy, and developmentworK including building entrepreneurial capacity for holistic transforniation in marginalised communities. He is passionate about the intersection of faith and work. promoting equal opportunityforalL alleviating extreme poverty, and sponsoring shared prosperity In previously ndersetved communities. ZVICHAPERA KATIYD Group CEO DELTA PHIL4NThROPIES Jini35 26 Failhful Taruwinga serves as Group Chief Flnan(e Offieer (GCFO). She is a qualified Chartered Ar(ountsnt CA(Zl with 20years post*ualifi£atlon experience. She is a memberofThe Institute ofchartered Accountsnts of South Africa ISAICAI and has extensive Executive and Senior management experience at Liquid Intelligent Technologies London. Econet Wireless Limited, Masawara Holdings Plc. TA Holdings Limited. and the Institute of Chartered Accounts Zimbabwe IICA21. She has assumed roles as the Group Director Commercial Reportingand Plannin& Chief Finance Offi￿r ICFOI, Company Secretsry. Group Financial Controllerand Technical Director. Her experience covers but is not limited to. Corporate Finance. Financial Management with a keen focu5 on Treasury. FinancialAccountin Strategic Planning and Auditing. Faithful seEves on various corporate boards and committees and chairs a Riskcommittee ofa listed entity. FAIThFUL TARUWINGA Group CFO Kufftdai Is the Head of Strntegic Partnerships at Delta philanthropie$, bringing extensive experience in the non*rofit and development sectots. She plays a pivotsl role in establishing partnerships and effectively communicatingthe organisation's vision. In her priorexperien￿ as the Team Lead forthe Neglected Tropical Diseases Program. she coordinated mass drug administrations in partnership with the Zimbabwean Ministry of Health and spearheaded a national handwashing campaign during the COVID-19 pandemic, promoting properhygiene practices. Addit￿nallY. Kundai provides invaluablesupportto the offi￿5 ofthe Chair and CEO of Delts Philanthropies. contributingto overall organisational strntegy and operations. Holding an Msc in Development Studies and a BA in Econ0rni￿. she combines her academic expertise with a passion for philanthropy to drive positive change across Africa. IUNDAI ZIUMBE Head- Strategic Partner5hlps DELTA PHILAlffttROPIES 27 FINANCIAL REVIEW The fund5 carried forward from the prior year amounted to VSS882.544. The income forthe yeai under reviewwas US$6 million, while the total expenditure was US$5.7 million. This resulted in reserves of USSI.3 millton. of which free reserves as of 31st De￿mber 2023. were U5$473.039. Reserves policy The Trustees have examined the charity's requirements for reserves in lightof the main risks to the organisation. It has estsblished a policy Whe￿bY the unrestricted funds not committed or invested in tangible fixed assets held bythe charity should be be￿een 3 and 6 Tnonths of the expenditure. Budgeted expenditure for2024 is US$660,000 and thereforethe target is between U5$165,000 and US$330,000 in general funds. The reserves are needed to meet the working capital requirements of the charity and the Trustees are confident that at this level the would be able to continue the current activities of the charity in the eventof a significant drop in fundin& The currentfree reserves of us$473,039 are slightly higherthan the upper level. but with other commitments and plans, these are expected to reduce to the tsrget levels over coming years. The strategy is to effectively manage the resetves in orderto contain them within the set targets. Restrirted fund5 are relatingto ongoing projects which are expected to be utilised overthe nextfinancial year. Funding sources The Charity'5 funding sources are our Patrons and like-minded developmentfvnders orAid agencies forthe various initiatives we have committed to overthe coming fwe yea￿. Distribution of fannittg iTrpirts underreimaline ruralAfri￿ inwedza Distric4 MaS1￿nala￿d EasL DELTA PHILANTHROPIES IiiB315 28 REFERENCE AND ADMINISTRATIVE DETAILS REGISTERED COMPANY NUM8ER REGisfERED CHARITY NUMBER REGISTERED OFFICE TRUSTEES AUDITORS 10954151 1178335 clo Hill Dickinson LLP Mrs Mastyiwa Xeinadin Auditing Chartered Mrs HET Masiyiwa (England and Wale51 The Broadgate Tower 20 Mrs R Kayombo Accountants and DrP Mmbizvo StatutoryAuditors Becket House 3601d Jewry London Primr05e Street London MSP Maramba EC2A 2EW EC2R 8DD DELTA PHILANTHRQPIES 29 STATEMENT OFTRUSTEES, RESPONSIBILITIES The trusteès Iwho are also the directors of Delta Philanthropies Limited for the purposes of company law) 3reresponsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fairview of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparingth05e financial ststements, the trustees are required to select suitsble accounting policies and then apply them consistently) - observe the methods and principles in the Charity SORP- - makejudgements and estimates that are reasonable and prudent- prepare the financial statements on the going concern basis unless it is inappropriate to presume thatthe charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements complywith the Companies Act 2006. They are also responsible for Safeguarding the assets of the charitable company and hence for taking reasonable steps forthe prevention and detection of fraud and other irregularities. In so far as the trustees ère aware= - there is no relevant audit information of which the charitsblÈ company's auditors are unaware- and - the trustees have tsken all steps that they ought to have taken to make themselve5 aware ofany relevant audit information and to establish that the auditors are aware of that information. AUDITORS The auditors, Xeinadin Audit LI￿lte¢l will be proposed for rtrappointment at the forthcoming Annual General Meeting. 2410912024 Approved by orderof the board oftrustee5 on .....-...-..-....-.............. . and signed on its behalf by: Ms H.E.T Masiyiwa- Trustee DELTA PHILANTHROPIES 30 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DELTA PHILANTHROPIES LIMITED Opinion We have audited the financial statements of Delta Philanthropie5 Limited lthe'charitable company'l for the yearended 31 December 2023 which comprise the Statement of FinancialActivities. the Balance Sheet. the Cash Flow Ststement and notes to the financial Statemen￿ including a Summary of significant accounting policie5. The financial reporting frameworkthat has been applied in their preparation is applicable law and United Kifigdotn Accounting Standards (United Kingdom GenerallyAccepted Accounting Practice). In ouropinion the financial statements: - give a true and fair view of the stste of the charitable company'5 affairs as at 31 December 2023 and of its incoming resources and application of resources. including its income and expenditure. for theyear then ended: - have been properly prepared in accordance with United Kingdom GenerallyAccepted Accounting Practice. and - have been prepared in accordance with the requirements ofthe Companies Art 2006. Basis for opinion We conducted Dur audit in accordance with Intemational Stsndards on Auditing IUK)115Ps IUKII and applicable law. Our responsibilities underthose standards arefurtherdescribed in the Auditors. respon5ibilitie5 forthe audit of thefinancial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevantto our audit of the financial staternents in the UK. includingthe FRC'S Ethical Stsndard. and we have fulfilled ourotherethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for ouropinion. Conclusions relating to going concern In auditinE the financial ststements. we have concluded thatthe trustees. use ofthe going con￿rn ba515 of accounting in the preparation of the financial statements is appropriate. Based on thewotk we have perfornied. we have not identified any material un￿t￿antieS relatingto events or conditions tha( individually or collectively. maycast Significant doubton the charitsble CoMpan￿S ability to continue as a going concern fora period of3t leasttwelve months from when the financial sLitements are authorised for issue. JIDerefflbEiJ4iJ DELTA PHILANTHROPIES JS?ill J 31 Our responsibilities and the responsibilities of the tn]stees wtth ￿$pert to going concem are described in the relevant5ections of this report. Other information The trustees are responsible for the other information. The other information comprlses the Information included in the Annual Report other than the financial Statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not coverthe other information and. except to the extent otherwise explicitly ststed in our report, we do not express any form of assurance conclusion the￿0￿. In connection with ouraudit of the financial ststements, ourresponsibility is to Trad the other infonnation and. in doing so, considerwhether the other informatiori 15 materially inconsistent with the financial statements or our knowledge obtained in the audit orothenmise appears to be materially rnisstated. If we identify such material inconsistencies orapparent material mis5L*ements, we are required to determine whetherthis gives rise to a material misstatement in thefinancial statements themselves. If. based on the woth we have performed. we conclude that there is a material misstatement ofthis Other infomiation. we are required to reportthat fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In ouropinion, based on the work undertaken in the course of the audit.- - the information given in the Report of the Trustees forthefinancial yearforwhich the financial staternents are prepared is consistent with the financial statements. and -the Report of the Trustees has been prepared in aCCordan￿with applicable legal requiremen Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course ofthe audit. we have not identified material misstatements in the Reportofthe Trustees. We have nothing to report in respect ofthe following matters where the CompaniesAct 2006 requires us to report to you if, in ouropinion: we are required to report that facL We have nothing to report in this regard. - adequate accounting records have not been keptor retums adequate for our audit have not been r￿1Ved from branches notvisited by us or - the financial statements are not in agreement with the accounting records and returns" or - ￿rtain disclosures oftrustees. remuneratron specified by law are not made" or -we have not received all the infomiation and explanat10115 we require forour or audit- -thetru5tees were notentitled to tske advantsge of the small companies exemption froffl the requirÈmentto prepare a Strategic Report or in preparing the Report of the Trustees. DELTA PHILANTHROPIES 32 Responsibilities of trustees As Èxplain@d more fully in the Statement of Trustees, Responsibilities. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible forthe preparation of the financial statements and for being satisfied thatthey give a true and fairview, and for such internal control as thetrustee5 detem7ine is ne￿SSaryt0 enablethe preparation of financial 5tatemefits that are free from material misststement. whether dueto fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable COTnpany's ability to continue as a goingconcern. disclosing, as applicable. mattets ielated to going concern and using the goingconcern basisof accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtsin rea50nable assuran￿ about whetherthe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Reportof the Independent Auditors that includes our opinion. Reasonable assuran￿ is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatementwhen it exists. Misstatements can arise from frdud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influer1￿ the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irreguiarttie5, including fraud is detailed below Identify and asse5S the risk of material misstatementofthe financial ststements, whether due to fraud or error. design and perform audit procedures responsive to those risk5. and obtsin auditevidence that is sufficient and appropriate to provide abasis for ouropinion. The risk of notdetecting a material mi55tatement resulting from fraud is higherthan forone resulting from error. as fraud may involve coIIu5ion. forgery, intentional omissions. misrepre5entationsorthe override of intemal control. - Obtain an understanding of internal control relevanttothe audtt in orderto design audit procedures that are appropriate in the circumstsnces. but notfor the purtx)ses ofexpre5sing an opinion on the effectiveness of the c£Jmpany's intemal controL - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and the related disclosures made by the directo DELTA PHILANTHROPIES 33 - Conclude on the appropriateness of the director5, use of the going concem basis of accounting and. based on the audit evidence obtained, whetlier a material uniertainty exists related to event or conditions that may cast significant doubt onthe company's ability to continue as a going cOn￿rn. Ifwe conclude that a material uncertainty exists. we are required to draw attention in our auditors report to the related disclosure in the financial ststements or, if such disclosures are inadequate to moéify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However. future events or conditions may cause the company to cease to continue as a going concem. - Evaluate the overall presentation, structure and content of the financial 5tatements,including the disclosures. and whether the financi31 statements represent the underlying transactions and events in a mannerthat achieves fair presentstion. A furtherdescription of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsrespon5ibilities. This description form5 part of our Report of the IndependentAuditors. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertsken so thatwe might stste to the charitable company's members those matters we are required to stateto them i an auditors, report and for no other purpose. To the fullest extent permitted by law. we do notaccept or assume responsibility to anyone other than the Charitsble company and the charitable companys members as a body, for our audit work. for this report. or for the opinions we have fomed. Hazel Day? Bsc. FCA DChA {Senior SLrtutory Auditor) for and on behalf ofXein3din Audit Limited Chartered Accountsnts and Statutory Auditors Becket House 36 Old Jewry London EC2R 8DO DELTA PHILANTHROPIES 34 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 UNRESTRicfED FifND REmicrED FUfrID 2023TOTAL 2022TOTAL FUND5 FUNDS IKITE5 114COME AND ENDOWMENTS FROM Donations and legacies 2.056,551 4.031,327 6,087,878 3.260.360 EXPENDITURE ON Charitable activitie5 Education 446,927 446,927 Sustsinable Livelihoods 205A44 i.000,IMIO 1,205,844 1,688.671 Disaster Relief 1,003,593 1,003.593 1.201584 Advocacy& Capacity Healthcare 1,169.773 2.359 1.172.132 234,211 488.374 1.347,600 1,835,974 521.639 OthÈr 4.3TI 4377 31,606 TOTAL 1.868A68 3,800,479 5.668,847 3.677.711 NET INCOME I {EXPENDrruRE) 188.183 230.848 419.031 1417.3511 RECONCILIATION OF FUNDS Totsl funds broughtforward 284055 597.689 8825M 1299.895 TOTAL FUNDS CARRIED FORWARD 474038 828.537 301￿75 882W4 DELTA PHIiAIfftIROPIES 35 BALANCE SHEET UNRESTrICTED REsfRIUÉD FUND FUND 2023TOTAi 2021TOTAL FVNDS FIJNDS MOTES CURRENT ASSETS Debtor5 li 26.125 26,125 26.125 Cash at bank 463,592 828,536 1292,128 871.597 489.717 828,536 lJ18,253 897.722 CREDITORS Amounts falling due within one year 12 (16.6781 116,678> 115.1781 NET CURRENT ASSErs 473,039 828536 1,301,575 882544 TOTAL ASSETS LESS CURRENT LIABILrriES 473,039 828,536 1.301,575 882.5H NET ASSETS 473.039 828.536 IJOl.575 882,544 FUNDS Unrestrirted fund 13 473,039 284.855 Restricted funds 828536 597,689 rAL FUNDS IAOI.575 882,544 These financial statements have been prepared in accordan￿ with the provisions applicable to charitable companies subjectto thesmall companies regime. 2410912024 Thefinancial statements were approved bythe Board uftrustees and authorised for issueon ........................._.. and were signed on it's behalf by= Mrs H.E.T Masiyiwa- Trustee DELTA PHILANTHROPIES 36 CASH FLOW STATEMENT 2•22 NOTÉS Cash flows from operatlng activities Cash generated from operations 420,531 1315,7641 1315.7fJ41 420.531 Net cash provided byllused in} operating actiwties 420,531 1315.7641 Change in cash and cash equivalents in the reportinz period 420.531 {315,7641 Cash and cash equivalents at the beginningof the reporting period 871.597 1.187361 Cash and cash equivalents atthe end of the rÈpDrtiThg period 1,292,128 871.597 DELTA PHILANTHROPIES 37 NOTES TO CASH FLOW STATEMENT I. RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATIMG ACTIVITIES 2022 Net incomellèxpenditurel forthe reporting period (as perthe Ststementof FlnancialArtivities) Adjustmentsfor: Decrease in debtors 419,031 1417.351) 103.875 Increaselldecteasel in creditors 1500 12,2881 Net cash provlded byl{used •n) operations 420￿1 1315.764) 2. AHALYSIS OF CHANGES IN NET FUNDS At 1.123 C•$hllow At31.12.23 Net cash Cash at bank 8T1￿97 420,531 1392.128 871￿97 420.531 1?92,128 Total 871.597 420￿31 1292,128 DELTA PHIiANtHROPIE5 38 I. STATUTORY INFORMATION Delts Philanthropies is a Charitable company limited byguarantee and domiciled in England and Wales. The Cha¥ity is registered in England and Wales. Registered Company number 10954151. Registered Charity number 1178335. The registered office and the Principal offite 15 clo Hill Dickinson LLP. The Broadgate Tower. 20 Primrose Street, London, EC2A 2EW. The principal activity ofthe charity is to make grants and to provide advocacy to aid general charitable purposes. education and the prevention or relief of poverty. assisting children &young people. people with disabilities, people of a particular ethnic or racial origin and other charities orvoluntary bodies. 2. ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public benefitentity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 102)'Accounting and Reporting by Charities: Statement of Recommended Practice applicableto charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191.. Financial Reportingstsndard 102'The Financial Reporting Stsndard applicable in the VK and Republic ofl reland, and the Companies Act 2006. The financial statements have been PrePa￿d underthe historical cost convention. The functiorial cuirency is US Dollar. The financial ststements are prepared on a going concem basis STATEMENT OF COMPLIANCE These financial Statements have been prepared in compliance with FRS 102 and SORP IFRS 1021 the financial reportingstandards applicable in the UK and republic of Ireland and Companies Act 2L)06. CRITICAL ACCOUNTING JUDGEMENTSAND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application ofthe Charity's accounting policie5 which are desciibed above, trustees are required to makejudgements. estimates and assumptions about the carryingyalues of assets and liabilities that are not readily apparent from othersource5. The estimates and undeilying assumptions are based on historical experience and otherfactors that are considered to be ￿leVant. Artual results may differ ftDm thesee5timates. The estimates and underlytng assvmptions are reviewed on an ongoing basis. Revisiorts to accounting e5timatesare recognised in the period in which the estimate is revised if the revision affects onlythat period. orin the peri(Kl of revision and future periods if the revision affects both current and future periods. DEITA PHILANTHROPIES 39 The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. Allocation of costs between activities As a small charity many costs incurred, including 5tsff time, cover more than one activity. These costs are allocated to activities based on the key cost drivers and best estimates of staff time on each activity. INCOME All income is recognised in the Statement of FinancialActivities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilities are recognised 35 expenditure as soon as there is a legal or constructive obligation committingthe charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attrrbuted to particular headings they have been allocated to activities on a basis consistent with the use of resources. Gr3nts offered subjert to condition5 which have not been met atthe year end date are noted as a commitment but not accnjed as expenditure. ALLOCATION AND APPORTIONMENT OF COSTS Costs are allocated to the different activitie5 of the charity on an apportionment basis. based on the level of grant making of those artivitie& TAXATION The charty is exempt from corporation tax on its charitsble activitie5. FUNDACCOUNTING UnrestricLed funds can be used in accordance with the charitable objeciives atthe discretion of the trustee& Restrirted fvnds can only be used for particular re5trirted purposes within the objects ofthe charity. Re5trirtions arise when specified by the donor orwhen funds are raised for particular restricted pury>ose5. FOREIGN CURRENCIES Assets and liabiltties in foreign currencies are translated into U5 Dollar atthe rates of exchange ruling at the balan￿ Sheet date. Transactions in foreign currencies are translated into US DolEar at the rate of exchange ruling at the date of transartton. Exchange differences are taken into account in arrivingatthe operating result. DEITA PHIL4NTHK)JIES 1i74Jlt 3. DONATIONSAND LEGACIES 2023 2022 Donations 6,087,878 3230,982 Giftaid 29,378 6.087,878 3.260,360 CIIARITABLE ACTIVITIES COSTS Grnnt funding•l acti¥itles (See notes) IS•• rt¢t*61 Education 446,927 446,927 Sustsinable Livelihoods 985,000 220.844 1205.844 Disaster Relief 415,0(NJ 588593 1,003,593 Advocacy & Capacity Healthcare 839,625 332507 1,172,132 1.694,957 141.017 1,835,974 4381,509 1.282.961 5.664,470 5. GRANTS PAYABLE 2Q23 2022 Education 446.927 Sustainable Livelihoods 985.000 1.621.271 Dtsaster Relief 415,000 850.000 Advotacy & Capacity He31thcare 839.625 205.740 1.694.957 165.252 4J8L509 2W263 DELTA PkllLANTHROPIES 41 6. SUPPORT COSTS Mana¢emont Finan T4tsi Sustsinable Livelihoods 216,164 2,270 2.410 220.844 Disaster Relief 588593 588,593 Advocacy & Capacity Healthcare 324,950 3.665 3,892 332.507 138,505 1209 1.303 141.017 1?68.212 7,144 7,605 1282,961 7. NET INCOMEI(EXPENDITURE) Net incomellexpenditurel is Stated after chargingllcreditingl: 2022 Auditors, remuneration 7.605 6,558 8. TRiISTEES' REMUNERATION AND BENEFIT There were no trustees. remuneration or other benefits fortheyeaiended 31 Oecember 2023 nor for the year ended 31 DetembÈr2022. TRUSTEES, EXPENSES Duringthe year Mrs H.E.T Masiyiwa. Trustee and Co-Founderwas ￿1mbUr5ed a total of $1,749 {2022: $5517) with regards toexpenses incurred on behalf of Delts Philanthropies. DELTA PHILANTrIROPIES 42 9. STAFF COSTS 2023 2022 Wages and salaries 1,095J18 651.456 1.095J18 651,456 2013 2022 The average monthly numberofemployees during theyearwas as follow5." UK Charitsble activities Recharged charitableArtivities The number of employees whose ernployee benefits (excluding employer pension costs) exceeded $6D,000 was.. 2•23 2022 $90,001- $100,000 Included in the staff costs are cost allocations for programs work on multiple projects implemented in communities with implementing partners and this helps in accurately reflecting the true costs of each charitable program. DELTA PHILANTHROPIES 43 10. COMPARATIVES FOR THE STATEMENT OF FINANCIALACTIVITIES UXRESTRICTED FUND RESTRICTED FUIIDS TOTAL FUNDS INCOMEAND ENDOWMENTS FROM Donations and legacies 499.406 2.760,954 3.260.360 EXPENDITURE OM Charitabh activitios Sustainable LNelihoods 31.427 1.657.244 1,688.671 Oisaster Relief 201,584 1,000,000 1.201584 Advocacy & Capacity Healthcare 212.184 22.027 234211 201538 320.101 521.639 Other 31.606 31.606 Total 678,339 999.3n 3,677,711 NET INCOMEI(EXPENDilliRE) RECONCILIATION OF FUNDS Total funds broughtforward 463.789 836.106 1.299,895 TOTAL FUNDS CARRIED FORWARD 284,856 597,688 882,544 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONEYEAR Other debtors 26.125 26J25 DELTA PHILANTHROPIES 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 Trade creditors 97 Othercreditors 913 913 Accrued expenses 15,765 14,168 16.678 15.178 13. MOVEMENT IN FUNDS At 31.U.23 1.1.23 In ￿ndS unrestricted funds Genernl fund 284,855 188, 473.039 Restricted funds The ELMA Philanthropies GenderJustice Fund 324.479 324.479 2.359 {2J591 Rockerfeller Foundation VAN 595, 330 {912731 504,057 597.689 230,847 828.536 TOTAL FUNDS 882,544 419,031 1.301.575 DELTA PHILANTHROPIES 45 Net movement in funds, included in the above are as follows In￿￿1￿¥ Unrestri¢ted funds General funds 2.056551 (L868,3671 188.184 Restrlcted furtds The ELMA Philanthropie5 The END Fund 4,000.000 13.6T55211 131,3271 12,3591 191.273) 4,031,327 13OOOA80 j 6.087.878 15.668J47) 324.479 31,327 Gender Justice Fund 12.3591 Rockerfeiler Foundation VAN 191,273) 230.847 TOTALFUND5 419,031 Netmovement f¥rtds 1.1.23 31.11.23 Unrestrirted funds General fund 463.789 1178,9341 284,855 Restricted funds 657.243 1657,243 {178,863) The ELMA Philanthropies ThÈEND Fund 178,863 2.359 2,359 Gender Justice Fund 595,330 595,330 Rockerfeller FoundationVAN 419.031 {2380171 (417.351) 828.536 836,106 597,689 TOTAL FUNDS 1,299,895 882,544 DELTA PHILANtHROPIES 46 Comparative net movement in funds, included in the above are as follows.. iTrfunts Unrnstricted funds Generalfund 499006 I678￿40) 1178,934) Restricted funds The ELMA Philanthropies The END Fund 2.000,000 12.657.243) {320.1011 122.0271 1657.2431 {178.863} {2.3591 595330 230,847 2.760,954 12,999,3TIj {238017j 3360}60 13,677,711) {417,351) 141,238 GenderJustl￿ Fund 24,386 Rockerfeller FoundationVAN TOTAL FUNDS The Gender Justice Fund The fund is foraccelerating progress towards genderequality and women's leadership to ensure systems that provide the mostfundamentsl services of health, education, and economic opportunity are more just. incbive. and effective. resulting in improved outcomesfor million5. RockefellerVAN fund In collaboration with the Rockefeller Foundation, the Trustwill cater forcosts for addressing barrtersto vaccine demand and improving vaccine uptske by building the capacity of health cadres and local leadet5 to diseminate accurate and transparent inforniation about the COVID-19 vaccine in Zimbabwe. The ELMA Philanthroples The ELMA Philanthropies has provided fundingfor project support forthe expenses Incurred forthe Sustainable Livelihoods programme. focused on buildingthrivingfood secure households, increasingdietsry diver5ty. and increasing household income bydeploying a Iow-COStand climate resilientfarmingtechnique amounting to $1,000,000. DELTA PHILANTHROPIES 47 In addition. to SU￿alnable Livelihoods, they provided funding forstrengtheningthe Zimbabwean national and comrnunty readine5S to detect and respond to public health threats. emergencies and disasters and coordinate response and recovery efforts in disastey events through investments in infrastructure, education, capacity building, and stskeholder engagement. The END Fund The fund supports the Trusts initiativefor neglected tropical disease5 through confirmatory mapping of Lymphatic Filiarisis in formally confirmed endemic districts with results informing potential future treament. that may indude triple therapy. 14. RELATED PARTY DISCLOSURES Duringthe current year Mr S Masiyiwa. Patron and Co-Founder. did not make any donations to Delta Philanthropies {2022= $94.5001. Mrs H.E.T Ma5iyiwa. Trustee and Co-Founder. is currently serving as a member of the Board of Dirertors forThe END Fund a private philanthropic initiatbve solely dedicated to endingthe most common neglected tropical diseases INTDS). See note 13 for detaiEs of income from the End Fund. DELTA PHILANTHROHES 48 DETAILED STATEMENT OF FINANCIAL ACTIVITIES INCOMEAND ENDOWMENTS 1022 Donations and legacies Donations 6.087.878 3230.982 Gift aid 29.378 Total incoming resources 6,087,878 3260,360 EXPENDrruRE Charitable activities Grantsto institutions 4,381509 2.842.263 Other Foreign exchange Gain / Loss 4377 31.606 Support Costs Management Wages Offi￿ expenses Con5ultsncy Legal fees Accounting 1.095.318 651,456 19,545 56.986 25.875 29,625 8.136 13.870 119.338 37.624 1.268,212 789,561 DELTA PHILANTHROPIES 49 2023 Financ• Bank charges 7.144 7,723 Governance costs Audttors. remuneration 7.605 6,558 Totsl resources expended Net incomel{expenditure} 5.668,847 3,677.711 419.031 1417,351} DELTA PHILANTHROHES DELTA f*iiiANTHRONES 51 ANNUAL REPORT 2023 DELTA PHILANTHROPIES REPORTOFTHeTIIVSTEE5 FOR THEYEAREIIDE031DECEM8ER 2023 REGisfERTDCIIARFtYllUllBEII: 1171315