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2024
DELTA PHILANTHROPIES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBEFI 2024
REGISTERED COMPANY NUMBER: 10954151 {England and Wales)
REGISTERED CHARITY NUMBER: 1178335

CONTENTS
A Message from Our Leadership .
About Delta Philanthropies............................................
Global Health
Rural Transformation & Sustainable Livelihoods .
14
Disaster Relief & Preparedness
17
Advocacy & Thought Leadership .................................. 19
Capacity Building
21
Structure, Governance and Management .................... 24
Board Profiles
26
Financial Review .
30
Independent Auditor's Report .
31
Financial Statements
34

CHAIRPERSON'S LETTER
As I look back on 2024. 1 am filled not only with gratitude but also with awe at the journey Delta
philanthropies has walked over the past seven years. what began as a vision to place African leadership at
the heart of philanthropy has matured into è movement that is restoring dignity, expanding opportunity,
and re-shaping the way development is done on our continent.
This past year, I was deeply moved by encounters that brought ovr mission to life. At Mbuya Nehanda
Maternity Hospital in Zimbabwe, I held the tiny hand of a premature baby whose charice of survival
has been transformed by the new Immediate Kangaroo Mother Care liKMCI unit. In Kampala, I listened to
young girls share how mentorship and access to education are rewriting the story of their futures. In care
institutions across Zimbabwe, I saw children well-fed, leafning, and laughing
simple but profound
signs of hope rekindled. These are not just programme ovtputs. They are human stories of resilience and
POS5ibility.
Our work is not measured only in numbers or milestones. It is found in the courage of mothers who dare to
dream again, in the determination of students who push throvgh barriers, and in the quiet strength of
communities rising to lead their owrTr transformation. This is the essence of African philanthropy.. aligning
resources with the ingenuity* faith. and leadership already present in our people.
None of this would be possible without our partners, supporters, and the dedicated Delta philanthropies
team. You are the lifeblood of this work. Your commitment ensvres that we not only respond to immediate
challenges but also invest in resilient systems that will serve geneiations to come.
As Chair, I step into the futvre with confidence and resolve. Delta philanthropies is not just funding projects
it is helping to shape an ecosystem of African-led development that will outlast us all. Together, we are
building something enduring: a legacy of hope, dignity. and opportunity for Africa's children.
Mrs H. E.T Masiylw•
Co-Founder & chair
DEITA PHILANTHROPIES

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l ¥JKJI.n,
PRESIDENT & CEO'S STATEMENT
2024 was a year of progress and transformation for Delta philanthropies. We strengthened our foundations,
scaled impact across our focus areas. and prepared for an ambitious next phase of growth.
In Global Health, We continued our long-term investment in maternal and neonatal care. Since 2020, we
have trained over 6,000 healthcare workers, ensuiing that mothers and newborns receive life-saving care.
This year, we established Zimbabwe's first Immediate Kangaroo Mother Care liKMC) unit at Mbuya Nehanda
Maternity Hospital, which has significantly reduced moitality rates, offering thousands of premat4Jre babies a
chance at survival and offering their families renewed hope.
Our fight to eliminate neglected tropical diseases advanced significantly. Two Mass Drug Administration
campaigns treated 2.3 million children for schistosomiasis (SCH) and soil-transmitted helminths (STH), and
reached over 800,000 people to combat lymphatic filariasis ILFI.
In Rur81 Transformation, we concluded the Relmagine Rural Africa piogram, which over its lifespan trained
more than 400,000 farmers in climate-smart agriculture and sustainable livelihoods. Shifting our focus to
addressing food and nutrition insecurity in residential care institLttions, we reached 82 institutions, providing
training and agricultural inputs to benefit more than 5,000 vulnerable children.
In Disaster Relief and Prep8rtdness, the National Emergency Operations Centre, since becoming operational
in January, has coordinated rapid responses to multiple emergencies. including the El Nino-induced drought,
while saving the govelnment significant conferencing costs and improving crisis communication.
As we prepare for 2025, we remain mindful of the evolving challenges facing our sector. The recent shifts in
global funding reinforce the importance of locally-rooted, African-led development models that can sustain
essential services even in uncertain times. We will continue aligning with global collaboratives, deepening
partnerships with governments and philanthropists, and championing solutions designed and sustained by
African communities.
Looking forward, our focus is on strengthening Delta's capabilities - governance, systems, and technology
to deliver even greater impact. Our task is to ensure that the foundation we have built erbables scalable.
sustainable solutions that improve lives across the continent and stand the test of time.
Ms E. T Masiyiwa
President & chief Executive Offi¢er
DELTA PHILANTHROPIES

ABOUT
DELTA PHILANTHROPIES
Delta Philanthropies is a UK-registered charity that invests in impact and funds human Capital
development in Africa. Fovnded by the Masiyiwa Family in 2017, we ¢o-create, design. and implement
pan-African projects focusing on communities, women, and children.
VISION
To ac¢elerate progress toward Incluslve economlc growth and social transformation.
MISSION
To help countries in Africa become middle-income e¢onomles through human capital
development.
STRATEGIC APPROACH
We deslgn, Invest In, and Implement projects across four areas ¢rltl¢al to Inclvslve
economicgrowth: Education, Health. RuralTransformation andSustalnableLivelihoods,
and Dl$aster Rellef and Preparedness.
Ovr approach combines Progmm D•ilgn & Cqtalytlc Funding, where we develop
and ¢o-fund innovative models that drive sustainable change; Thought L•ad•rshlp
& Advocacy. leveraging our convenlng power to mobilise resources and advance
critical issues in human capital development.. and Collaboration & CaTpa¢lty Buildlngi
partnering with others to co4und initlatives and strengthen capabilities withln the
philanthropic oco$ystom.
PUBLIC BENEFIT
The Trustees confirm that Delta Philanthropl•$' programmes continue to have
regard to the Charity Commission's general guidance on pvbllc benefit. They remain
¢ommitted to ensuring that all actlvities undertaken during the period under review
align with the charity's objectives and are designed to deliver meaningful benefit to
communlties.
DELTA PHItANTHROPIES

2024 IMPACT HIGHLIGHTS
clinical & auxiliary staff
trained over three years
aD
children treated for
neglected tropical diseases
smallholder farmers
trained over four years
5.000+
200_nnn+
vulnerable children in institutions
of care reached with
food security interventions
patients from low-income
popvlations given access
to healthcare

OUR GEOGRAPHIC FOOTPRINT
HIGHERLIFE I
FOUNDATION f
Zimbabwe & Lesotho
in partnership with Higherlife Foundation
eswatini, Mozambique, Uganda. Namibia, Le50tho, Rwanda, Tanzania,
South Africa, Zimbabwe. Kenya. Zambi8, Botswana and Malawi
in partnership with Masana wa Afrika
Afrika
Ghana, Nigeria, Rwand8, Kenya, Tanzania and Uganda
in partnership with King's Trust International
Klng&Tru8t
Intematlonul
DELTA PHILANTHROPIES

I GLOBAL HEALTH
(Photo creJil.' Hiylieflile l-r)
ndolion. 2
14)

Eliminating Neglected Tropical Diseases
Our work in neglected tropical diseases {NTDs). in paltnership with the Ministry of Health and child Care
(MOHCCI and the National Institute of Health Research (NIHRI, remains one of Zimbabwe's most ambitious
pvblic health efforts, targeting the elimination of schist050miasis (SCH), soil-tiansmitted helminths ISTHI, and
lymphatic filariasis ILFI as public health problems.
In 2024, we funded two major Mass Diug Administration IMDAI campaigns. The SCH/STH campaign reached
2.3 million children across 47 districts, and the LF campaign reached 807,743 people across seven endemic
districts. These campaigns exceeded the World Health Organisation coverage targets and introduced triple
drug therapy, a key innovation that will accelerate disease elimination in Zimbabwe by 2030.
We supported a comprehensive community mapping exercise in 21 wards with the Departments ofwater,
Sanitation and Hygiene and Environment under the MOHCC. The study assessed readiness to scale up
demand-led sanitation approaches essential for interiupting disease transmission. Results showed that 31%
of 520 villages had already been "triggered,, marking a critical first step toward ending open defecation and
improving community sanitation.
Recognising that sustainable progress requires domestic resources, we commissioned a nationwide study of
the NTD funding landscape. This critical work will provide evidence-b3sed recommendations to strengthen
policy frameworks, enhance sustainable financing for priority NTDS, and improve long-term service delivery.
Looking ahead, as part of our commitment to the Reaching the Last Mile Fund, we will contribute to developing
Zimbabwe's LF Elimination plan (2024-2030). Through the Deworming Innovation Fund, we will continue
supporting MDAS. WASH initiatives. and behaviour change programs to demonstrate interruption of SCH and
STH tiansmis5ion.
*r
A niirsp ¢ydministcring bilhtrr2itr ond intestinal v/orfn trrp£Jtrmpnt dijrin Jc thp. ?O?II SCH/sTH MDA
(Photo creolil.. Higherli[e Foundotion, ?0241
DEITA PHILANTHROPIES

A ntsrse checking on o preteim bubJi receivinq r)lTrntothernpJi frrprjtmpnt rJt.fally MiigrJbe Iqospittrl
(Photo eredit- HigherliJe Foundotion, 20241
Transformlng Maternal and Neonatal Health
Perhaps nowhere has the life-58ving impact of our work been more immediately visible than in Zimbabwe's
maternity wards. where we continue to invest in reducirbg preventable maternal and neonatal deaths in
referral institutions.
In 2024. in paitnership with the ELMA Foundation and the Ministry of Health and child Care {MoHCC), we
established an Immediate Kangaroo Mother Care {iKMCI unit at Mbuya Nehanda Maternity Hospital. This
proven method ensures preterm babies receive vital skin-to-skin contact with their mothers. helping regulate
body tempeiatuie, breathing, and heart rate - significantly improving svNival outcomes.
The results were striking.. mortality rates among babies weighing 1,000-1,500 grams dropped to less than half
of the previous year's levels. The new unit expanded access to critical care, eased pressure on the preterm
ward, and contributed to an overall 41% reduction in neonatal mortality compared to the previous year,
demonstrating substantial progress in improving newborn survival.
Working with MoHCC,we trained an additional 1,465 healthcare workers in Emergency obstetric and Neonatal
Care across seven hospitals, bringing the total trained since the start of our Maternal and Neonatal Health
IMNH) program to over 6.000 staff. We also equipped maternity wards at five central hospitals, supported
maintenance and supplies across 16 health institutions, and trained 33 technicians in equipment servicing
ensuring life-saving devices remain functional and accessible.
Looking ahead, we will develop a national Country Plan to guide Zimbabwe's Maternal Health strategy, Scale
up capacity-building efforts, and place essential equipment in more central hospitals. We will also irbvest
in refurbishing maternity WASH facilities at key hospita15 to close critical infrastiucture gaps that affect the
quality of care.
yo
DELTA PHILANTHROPIES

An IKMC nurse assisting a niotrhpr vJith .Ekin-to-£kin r.nntnrl nt Mbiiiin hlphonclry Moternitii Hospitol
(Photo credit.- Higheilife Foundation, ?024)
Expandlng Prlmary Healthcare Access
In 2024,we advanced the One Health Initiative, oureffort to expand high-quality, affordèble primary healthcare
for underserved communities in Zimbabwe through a network of franchised clinics.
With our funding. an existing clinic undeiwent major upgrades, including solar power installation, a fully
operational microbiology lab, and newly licensed optometry services. Our support also enabled the
irbtroductiorb of free weekly wellness clinics for blood pressure and diabetes screening, mobile outreach
programs to reach remote populations, and a youth health Corner offering free mental and sexual reproductive
health seivices.
We also supported groundwork for a new franchise clinic, which will extend the network to three operational
sites once cor)Stfuction is complete. Enhanced dental and orthodontic services introduced this year will also
be expanded across the network.
Looking ahead, we will continue funding efforts to strengthen service delivery and launch the new clinic,
ensuring that more low-income families have access to comprehensive, quality primary healthcare.
71
DEITA PHIIANTHROPIES

Jj.
A ehilcl receiving voccinotions during on ifflmunisotion outreoch compuign
(Photo credit.. Min15try olHealth & Child Core, 2024)
strengthening Chlldhood Immunlsatlon
Through the Vaccination Action Network IVAN). implemented in partnership with the Rockefeller Fovndation
and the Ministry of Health and child Care IMOHCCI, we invested in closing routine immunisation gaps and
protecting vulnerable children from preventable diseases.
The program aimed to strengthen routine immvnisation service delivery and achieve over 95% vaccine
coverage in hard-to-reachcommvnities through integrated outreach programs thatdeliveredcriticalchildhood
vaccinations, including pentavalent, measles-rubella, and polio, alongside vitamin A supplementationi growth
monitoring, HIV follow-up care, and enhanced disease surveillance.
By December 2024, VAN had reached 751,702 children out of a target of 770.000, achieving 98% coverage
across Harare, Mashonaland West, and Matabeleland South. These results represent thousands of children
now protected against measles, polio. diphtheria. and other diseases that continue to claim young lives
across Africa.
Overall. our investment irb VAN significantly stiengthened Zimbabwe's rovtine immunisation services, closing
coverage gap5 and helping prevent future outbreaks. The high coverage achieved is expected to substantially
reduce the burden of vaccine-preventable diseases in the years ahead.
72
DEITA PHIIANTHROPIES

Spotllght: Technology Transforming Neonatal Care at Mpilo Central Hospltal
At Mpilo Central Hospit31, the largest maternity facility in Bulawayo, new neonatal equipment provided in July
2024 is making a big difference for mothers. babies. and the midwives who care for them.
"These machines have made life easier for us," says Sister Sibonokuhle Ncube, a midwife and paediatric nurse
in the neonatal intensive care ur)it. "We use CPAP machines for babies with respiratory distress. The earlier
we start them on these machines, the better their chances of survival."
Processes that were once manual and time-consuming are now automated. allowing staff to focvs more on
patient care. "8efore, we used to give IV fluids manually," Sr. Ncube explains. "Now. we connect the baby to
the machine, set the regulated amounts, and everything becomes automated. It saves time and makes sure
no dose5 are missed."
Close monitoring has also improved. "The glucometer alerts us if 3 baby is deterioratingt and the jaundice
meter helps Us detect conditions caused by neonatal jaundice early, like kernicteru5,' she adds.
Midwife Sister Raddy Nowedza agrees:
"Using this technology is the bestway to manage neonates becavse so much depends on timely intervention."
Firelly Phototherapy Device in uselor joundice manirgefflent in the Mpilo Hospital Neon(ytoyl
Intenfiwp fare ljnit
{Photo credit.. Higheilije Fovndolion, 20241
73
DEITA PHILANTHROPIES

ir•n
RURAL TRANSFORMATION
& SUSTAINABLE
LIVELIHOODS

S¢allng Cllmate-smart Agriculture Through Reimaglne Rural Afrlca
Our rural transformation work in 2023/24 took place amid significant climate challenges. An El Nino-induced
drought that affected much of southern Africa tested agricultural productivity and food security across the
region. Despite these conditions, our Climate-smart Agriculture (CSAI approach demonstrated resilience and
continued to support farmers in adapting to a changing environment.
During this farming season, we significar)tly expanded the Relmagine Rural Africa IRRA) program, nearly
doubling farmer training numbers through a Train the Trainer approach. 1,357 Agricultural Technical and
Extension Seivices (AGRITEXI officers were trained. who in tvin cascaded Climate-smart Agriculture (CSAI
practices to 201,123 smallholder farmers across 13 districts. Inpvt support was also provided to 9.000 farming
households to enhance adoption.
Over four years. our investment in RRA reached 413,585 smallholder farmers, positively impacting over 2.4
million people by improving food security, nutrition, and incomes. Despite mid-season dry spells and the
effects of El Nino, the piogram exceeded its targets for training. productivity, income, and dietary diversity.
As the project concluded in this reporting period. efforts focused on stskeholder engagement, results
tracking, and ensuring that trained extension workers continue promoting CSA practices into the next farming
season and beyond.
Ir
lend
F(YfmeTS receiving seed und insecticide (It o leelinu(JiiTre RuiolA]rico Luuncli
(Photo ciedii.. Higherlile Foundotion, 2024)
75
DELTA PHILANTHROPIES

Strengthenlng Food Security In Instltutions Of Car•
In the 2024/25 farming season, our strategy pivoted to focus on improving food, nutrition. and income
security for vulnerable children livir)g in Institutions of Care.
We supported 82 children's homes across Zimbabwe, caring for over 5,000 children, with CSA training and
catalytic farming inputs to improve agricultural productivity, enhance food security, and promote sustainable
practices. These interventions aim to strengthen long-term resilience and self-sufficiency for both the homes
and their surrounding communities.
Looking ahead, wewill pilot nutrition gardens in 20 institutions, designed to diversify diets. provide consistent
access to fresh, nutrient-rich vegetables, and combat malnvtrition. This initiative will support healthy child
development and establish sustainable food systems within children's homes.
¥J
A crop assessfflent exercise underwoy (Jt shoJi onevlttko childTÈn'S Villuge
(Photo credit.. Higherlile Foundorion, 20241
Spotlight: Climate Smart Agriculture Builds Resilience
sheilah Jokonya, a farmer from Kushingirira Village in Mt Darwin District, has been practi5ing climate Smart
Agriculture ICSAI since receiving Delta-supported tiaining in 2020. The approach equips farmers with
techniques to manage shifting rainfall patterns and mitigate the effects of drought,
In 2024, during ar) El Nino-induced diy season, Sheilah harvested 17 bags of maize - enough to sustain her
household through March - while many others in her area recorded crop failure. she attributes this to the CSA
methods she adopted, including moisture conservation and Precise planting lan agricultural technique that
optimizes seed placement for maximum crop yield and efficiency).
"Even now. we don't need a lot of rain. If it fains three times. the holes I dug and the mulch l used will trap
enough moisture for my maize crop,, she said.
In average rainfall years, she produces up to three tonnes of maize from her plots. With increased productivity
over time. she has beer) able to purchase inputs independently and improve her household infrastructure.
"l am now ready to stand alone. I know how to plan for my seasons," she said.
Through CSA, Delta Philanthropies supported farmers like Sheilah are strengthening food security and
building resilience to climate shocks.
16
DELTA PHILANTHROPIES

", Gr￿1
rtggi
DISASTER RELIEF &
PREPAREDNESS
fphoig y4drl.. Higherlife.Fovndotion, go?41

Emergency Operations Centres
Our completion and equipping of the National Emergency Operations Centre INEOC) msrked 8 critical
investment in strengthening Zimbabwe's disaster preparedness. Since becoming opeiational in January 2024,
the NEOC has cooidinated responses to multiple emergencies. including the El Nino-induced drought that
affected millions across the region. The centre has hosted over 10 meetings each month, savir)g an estimated
$30,000 in conferencing costs while enablirbg faster. more coordinated emergency responses.
We also invested in upgrading the Public Health Emergency Operations Centre (PHEOCI. further enhancing
the country's ability to manage health-related crises from Containing disease outbreaks to safeguarding
essential medical supply chains. During Zimbabwe's 18-month cholera outbreak, which began in February
2023 and officially ended in August 2024, the PHEOC served as a hub for critical emergency preparedness
and coordination efforts and will Temain central to the nation's ongoing cholera elimination strategy.
!!IYVO*1 filllllll5j'll
ij
Members oj the fylotiontyl Tosklorce on Choleru Iliminotion otteiidiiicj tlieir ciuorlcrlij moeting at the
PHEOC ttnd conclutting site visits in o cholero hotspot
(Photo credit.. HigheKlile Fovndtstion, 2024)
78
DEITA PHILANTHROPIES

ADVOCACY & THOUGHT
LEADERSHIP
Ph

In 2024, Delta Philanthropies strengthened its position as a leading voice in human capital development,
using its convening power to advocate for matein31 and newborn health, gender equality, and the elimination
of neglected tropical disease5, while shaping the evolving role of philanthropy.
Our leadership was active or) global stages. including the Skoll World Forum, where President & CEO Elizabeth
Tanya Masiyiwa spoke on the growing role of philanthropic collaboratives in Africa, and on the sidelines of the
United Nations General Assembly, where Board Chair Mrs Tsitsi Masiyiwa joined high-level forums with global
philanthropists, policymakers, and civil society leaders. Additionally, our leadership expanded its digital
advocacy efforts. with both Mrs Masiyiwa and Hs Masiyiwa using media and online platforms highlighting
African-led solutions and share insights on the future of philanthropy, reaching an expanding audience of
global development leaders.
Spotlighting collaborative partnerships with childien Investment Fund Foundation (CIFFI. ELMA Foundation,
and the Gates Foundation on shared platforms allowed us to showcase the impact of collective giving models.
Through these engagements, Delta philanthropies is mobilising resources. influencing the philanthropy
community, and erbsuring African voices help shape the global development agenda.
&xplorkng the
opportwiSty to
U¥lth Phild14Uin)p5k4
&temal ftnd
bom heajth
(Photo credit.. Goals House. 2024)
i Etrorld
',<oll
sl.
Iphoto credil.. GoEe5 Foundotion. 202AI
20
DEITA PHILANTHROPIES

CAPACITY BUILDING
otO£fedil.' +Yigherlfii "foundoiioii ?02Jl,.-

Masana wa Af rlka
2024 marked the second year of Delta Philanthropies. partnership with Masana wa Afrika, a foundation
dedicated to strengthening commurbity-based organisations across Africa. In June, Masana hosted its public
launch, attended by Delta philanthropies leadership as anchor funders. The event brought together 114
grantee partners from 12 African countries, fellow funders, and sector partners for the first time, providing
opportunities for networking and peer learr)ing.
In 2024, Masana supported 117 locally-led organisations across 13 African countries, with a total portfolio
commitment of us$9.5 million. Through our annual contribution of ussl million, the partnership has reached
more than 680,000 individuals with community-based interver)tions and provided multi-year support for
financial management, leadership development, and programme delivery.
During the year, Delta philanthropies participated in Masana board meetings and site visits in Uganda,
contributing to the foundation's strategic direction. Masana also secured a newfunding partner, the Patchwoik
Collective, a family philanthropic fund committed to directing resources to local organisations and leaders.
This partnership will accelerate Masana's expansion into West Africa.
Klng's Trust International
Delta philanthropies. partnership with King's Trust International IKTII, founded by His Hajesty King Charles111.
supports the delivery of education, employability, and enterprise Pfogrammes across the continent. In 2024,
the collaboration equipped 4,200 young people in six Afriear) countries with skills and training to prepare
them to build sustainable livelihoods. Delt8 Philanthropies. Board chair contributed strategic guidance as a
member of the KTI Africa Advisory Board, ensuring that regional perspectives informed programme design
and implementation.
The Af rlca Center
Delta philanthropies continued its support of The Africa Center, a multidisciplinary platform in New York
City that champions new nariatives about Africa's fvture. Funding from Delta philanthropies contributed to
progiammes, exhibition5, and research promoting African leadership in business, policy, and culture, while
fosteiing global Collaboration on issues critical to the continent's development.
Yad Vashem
Delta Philanthropies also supported Yad Vashem, the World Holocaust Remembrance Center in Jerusalem in
2024. Contiibutions focvsed on the Children's Memorial and its associated pillars ofeducation, docvmentation,
and research, advancing the mission of Holocaust remembrance and education globally.
'•tr ..1 ¥
Bourd Choir, Mrs Tsitsi Mosiyiwo, visiting Mosano wo Alriko grontee, Girl Up Initiotive Ugand(J,
cliirifpg th￿ Aucjust bocjrd riTreeting Oficl site visits
(Photo ciedii.. Hioherlile Foundotion, 20?4)
22
DELTA PHILANTHROPIES

Spotlight: Educatlon and Empowerment In Kllptown
In the heart of Kliptown, one of Soweto's oldest towrbships, poverty and lack of services have long hindered
opportunities for children and families. Kliptown is an informal settlement with a mix of formal and informal
housing, lacking adequate infrastrueture, proper sanitation. and access to essential services. Many children.
still affected by the legacy of apartheid and ongoing government neglect, face limited access to quality
education, nvtritlOU5 meals, and safe learning environments- leaving them vulnerable to the cycle ofpoverty.
Established in 2007 by a group of dedicated residents, the Kliptown Youth Program (KYP) set out to change
this reality by using education as a tool for empowerment. From its beginnings as a grassroots initiative, KYP
has grown into an internationally recognised organisation with a full campus that provides essential svpport
to children and families. The program offers access to education. daily meals. safe spaces, and mentorship
that help young people break free from poverty.
In 2024, with support from Masana wa Afrika. KYP reached 6,405 individuals, continuing its mission to uplift
Kliptown through education and empowerment. By addressing both immediate needs ar)d long-term
development, KYP is helping to build a generation equipped to lead and inspire lasting change.
KYP
KLIPTOWN VOUTH PRofiRAM
(Photo eredlt.. Kliptown Youth PKogrom, 2023)
DELTA PHIIANTHROPIES

STRUCTURE. GOVERNANCE
& MANAGEMENT
Governlng Document
The charity is a private limited company established by Memorandvm of Incorporation and Articles of
Association dated 8th September 2017, according to the Laws OF England and Wales. The Company is
registered with Companies House (Registration No. 10954151) and with the charities Commission (charity
No. 11783351.
The Charity was established with an initial gift from Founding Trustee and Patron Mr Strive Masiyiwa.
Method Of Appolntment 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 ease of convening. Trustees are appointed
for an initial peiiod of three years, after which time they may put themselves foiward for re-appointment.
Trustees will be comprised of executive, non-executive and independent non-executive members, and all
are reqvired to disclose any relevant interests, including conflicts of interest, real or potential, and register
them with the Board and. in accordance with the Trust's policy, to withdraw from decisions where a conflict
of interest arises.
The Board, asawhole. is responsible for nominating individuals for election to the Board andfor fillingvacancies
on the Board. The Trustees consider appointments recruited for their knowledge, empathy and expeiience of
the Company and its mission, and to ensure the skills and composition of the Board and succession planning
are optimised. Arby Trustee may propose an individual to be consideied by the Board if the individual is
willing and eligible to act as J Trustee. New Trustees may also be sought by open advertisement or through
a dialogue with prospective interested partie5 who respect the ethos and commitment of the Company and
its chaiitable objectives. All Trustees give of their time freely and do not receive any remuneration. Specific
expenses paid to Trustees are disclosed in the notes to the accounts.
Inductlon And Tralnlng Of Trustees
Prospective Trustees are oriented to the details of the Charity's founding document and the obligations it
requires of Trustees, as well as to the purpose and work of the Comparby. Literature and project visits will be
made available to and/or airanged for new Trustees in order to enable them to experience the projects and
highlight the purpose, objectives and work of the Trust and lay out the responsibilities and duties of a trustee.
As requiied by local law, the Board may provide continuing education for Trustees, either individually or as
a group.
24
DEITA PHILANTHROPIES

Related Parties
The charityworks in close collaboration with its primary implementing partner, Higherlife Foundation, primarily
in Zimbabwe to deliver impactful programs across human capital development, health, disaster relief and
preparedness and community development. This partnership combines Delta philanthropies, strategic grant-
making and governance expertise with Higherlife Fovndation's on-the-ground implementation cap3City,
deep community networks, and operational agility. This collaborative model enables both organisations
to independently leverage respective strengths, maximize reach, and accelerate progress towards shared
development goals in Zimbabwe and the region.
Rlsk Management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees
recognise thèt exchange rate fluctuations and exchange control regulations may result in funds raised and/or
transferied between countries and to beneficiaries may be different to those anticipated and/or budgeted
for. The Trustees have reviewed this risk and established a policy to manage rapidly changing events wherever
P0S5ible whilst retaining a focus on mission and the change enabled by the funding it provides.
Statement of Trustees? Responsibilities
The Trustees, who are also the direetois of Delta Philanthiopies for the purposes of company law, are
responsible for pieparing the Trustees, Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustee5 to prepare financial statements for each financial year, which give a true
and fair view of the state of affairs of the charity and of the incoming resources and application of resovrces,
including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are requiied to..
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting Tecords that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
25
DEITA PHILANTHROPIES

BOARD OF TRUSTEES
Strive Maslylwa Is the Founder and Chairman of the Econet Group, a
pan-African telecommunications, media, and technology company.
He Serves on several international boards, including Unilever, National
Geographic Society, Asian Society and the Global Advisory boards of
the Council on Foreign Relations and Stanford University. Strive is a
former board member ofthe Rockefeller Foundation for 15 years and
Chairman Emeritus of the Alliance for a Green Revolution in Africa
(AGRAI. He previously served on the Africa Progress Panel and was a
juror on the Hilton Humanitarian Prize.
STRIVE MASIYIWA
Co-Fovnder & Patron
Tsitsi Masiyiwa is an Afrlcan phllanthroplst, 50clal entrepreneur, and
champion for gender equality. In 1996, she co-founded Higherlife
Foundation with her husband, Strive. The foundation works across
education, health, food security, and disaster preparedness to support
African countries to achieve upper-middle income status. In 2017, Tsitsi
estèblished Delta Philanthropies as a vehicle for impact investment
and grant-making. She is the Chair of Higherlife Foundation and Delta
Philanthropies. Tsitsi is also the Chair of Co-lmpact and the Chair of
END Fund. As a result of her work and experience establishing and
growing Higherlife Foundation over the last twenty-six years, Tsitsi
has become an advisor and thought partner to universities, national
leaders, and social entrepreneurs on issues of education, health,
leadership development, gender, and youth empowerment.
TSITSI MASIYIWA
Co-Founder & chair
Bernard Chidzero is a Co-founder and Managing Director at Agis
Investments. Before 5tsrting Agis, Bernard was a Partner at the
Monitor Group (later Monitor Deloitte) where he led the firm's
advisory activities in Africa. Prior to joining the Monitor Group,
Bernard established and led the International Finance Coiporation's
(IFC) Advisory Services for Sub-saharan Africa. Bernard is a strong
advocate for a new paradigm of philanthropy in Africa
one that
merges the goals and aspirations of philanthropists, corporations,
governments, and civil society into sustainable solutions to Africa's
poverty, economic growth, and global competitiveness challenges,
BERNARD CHIDZERO
Trustee
26
DELTA PHILANTHROPIES

Rudo Kayombo is the Regional Director of BRAC Africa based
In Nairobi. Kenya. She has held leadership roles in national and
international NGOS, including most recently as Chief Operations
Off icer at Food for the Hungry IFH). Previously, she was the Executive
Director of ONE Africa. Prior to joining ONE Africa, she was the
Country Director for World Vision in Zimbabwe and Uganda, Director
of Advocacy, Communications and Education with World Vision UK,
before being appointed Regional Director for Southern Africa for
World Vision International, where she oversaw nine countries running
diverse development, advocacy. and emergency response programs
across the region. Rudo is a human rights lawyer by profession and
has a Master of Arts in Public Policy and Administration from the
University of York.
RUDO KAYOH80
Trustee
Dr Peter Manasa Mbixvols o medical practitioner, businessman and
entrepreneur. He holds a Bachelor of Science degree in Medical
Sciences from Edinburgh University and a Bachelor of Medicine
and Bachelor of Surgery degree from the University of Zimbabwe.
Dr Mbizvo has extensive experience in the medical sector and is
committed to using his experience and expertise to eontribute to the
Strategic development and good governance 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 sits on the boards of Medical Air Rescue
Services, The Diagnostic Imaging Centre, Maisha Health Fund, and
MEDSOLVE Ltd.
PETER MANASA MBIZVO
Trustee
Petronello Maramba is a trained lawyer, gendèr actlvlst and
a¢ademi¢.
She has served in various capacities for over 25 years in the
developmentsector,focusingongenderequity,faithanddevelopment
and corporate culture. Previously, she worked with UNICEF, Women
in Law and Development in Africa (WILDAF) and the International
Labour Organisation (ILOI on academic research, which continues to
provide invaluable insights on women's and girls, rights and issves.
Ms Maramba is passionate about working with yovng people and is a
strong advocate for equal representation ofwomen and girls.
PETRONELLA MARAMBA
Trustee
27
DEITA PHIIANTHROPIES

EXECUTIVE MANAGEMENT
Elizabeth Tanya Maslyiwa Is # promlnent leader In phllanthropy and
social entrepreneurship. She believes in and is passionate about the
transformative power of education in commvnities. As the President
and CEO of Delta philanthropies, Elizabeth oversees the philanthropic
efforts of the Masiyiwa family. In 2010, she founded Akello. an African
company that uses technology to provide learning and teaching
resources to students and classrooms across the continent. In
2020, Elizabeth established the Simba Preparatory School. an early
childhood center in Domboshava, Zimbabwe, to showcase a better
model for early childhood education in rural areas. Elizabeth is a non-
executive director on the board5 of Econet Wireless Zimbabwe and
Ecocash Holdings Zimbabwe, two of the largest listed companies
on the Zimbabwe Stock Exchange. In 2023, Elizabeth was appointed
Commissioner ofthe Commonwealth Scholarship Commission.
ELIZABETH TANYA MASIYIWA
President & CEO
Zvlchapèra Katlyo Is the Group Chief Executlve Offlcer IGCEO).
He coordinates innovation and solution design across Delta
Philanthropies, program work and investment assets. He provides
leadership to and oversees program execution. He has over 26 years
of experience in investment banking and project finance, corporate
strategy, and development work, including building entrepreneurial
capacity for holistic transformation in marginalised commvnities. He
is passionate about the intersection of faith and work, promoting
equal opportunity for all, alleviating extreme poverty, and sponsoring
shared prosperity in previously underserved communities.
ZVICHAPERA KATIYO
Group CEO
28
DEITA PHIIANTHROPIES

Faithful Taruwinga serves as Group Chief Finance Officer (GCFO).
She is a qualified Chartered Accountant CAIZI with 20 years post-
qualification experience. She is a member ofThe Institute of Chartered
Accountants of South Africa (SAICA) and has extensive Executive and
Senior management experience at Liquid Intelligent Technologies
London, Econet Wireless Limited. Masawara Holdings Plc, TA Holding5
Limited, and the Institute of Chartered Accounts Zimbabwe (ICAZ).
She has assumed roles as the Group Director Commercial Reporting
and Planning, ChiefFinènce Officer ICFOI, Company Secretary, Grovp
Financial Controller and Technical Director. Her experience covers
but is not limited to, Corporate Finance, Financial Management with
keen focus on Treasury, Firsancial Accounting, Strategic Planning and
Auditing. Faithful serves on various corporate boards and committees
and chairs a Risk Committee of a listed entity.
FAITHFUL TARUWINGA
Group CFO
Kundai is the Head of strateglc Partnerships at Delta Philanthropies.
bringing extensive experience in the non-profit and development
sectors. She plays a pivotal role in establishing partnerships and
effectively communicating the organisation's vision. In her prior
experience as the Team Lead for the 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
proper hygiene practices. Additionally. Kvndai provides invalvable
support to the offices of the Chair and CEO of Delta Philanthropies,
contributing to overall organisational strategy and operations.
Holding an Msc in Development Studies and a BA in Economics. she
combines her academic expertise with a passion for philanthropy to
drive positive change across Africa.
KUNDAI ZIUMBE
Head - strateglc
Partnershlp5
29
Df ITA PHIIANTHROPIES

FINANCIAL REVIEW
The funds carried forward from the prior year amounted to USSI,301,575. The income for the year under
review was US$6.5 million, while the total expenditure was US$6.5 million. This resvlted in reserves of US$1.3
million, of which free reserves as of 31st December 2024, were US$463,567.
Reserves Policy
TheTrustees have examined the charity's requirements for reserves in lightof the main risks to the organisation.
It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets
held by the charity should be between 3 and O months of the expenditure. Budgeted expenditure for 2025 is
US$680,000 and therefore the target is between US$170.000 and us$340,000 in general funds.
The reseives are needed to meet the workir)g capital requirements of the charity and the Trustee5 are
confident that at this level they would be able to continue the current activities of the charity in the event of
a significant drop in funding. The current free reserves of us$463,567 are slightly higher than the upper level,
but with other commitments and plans, these are expected to reduce to the target levels over coming years.
The strategy is to effectively manage the reserves in order to contain them within the set targets. Restricted
funds are related to ongoing projects which are expected to be utilised over the next finaneiÈl year.
Fundlng Sources
The charity's funding sources ale our Patrons and like"minded development funders or aid agencie5 for the
various initiatives we have committed to over the coming five years.
REFERENCE &
ADMINISTRATIVE DETAILS
Registered Company Number
10954151 (England and Wales)
Registered Charity Number
1178335
Registered Off ice
c/0 Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW
Trustees
Mrs HET Masiyiwa, Mrs R Kayombo, Dr P M Mbizvo, Ms P Maramba, Mr B Chidzero
Auditors
Xeinadin Auditing, chartered Accountants and Statutory Auditors,
Becl<et House, 36 old Jewry, London, EC2R 8DD

INDEPENDENT AUDITOR'S
REPORTTO THE TRUSTEES
OF DELTA PHILANTHROPIES
Opinlon
We have audited the financial statements of Delta philanthropies (the 'charity') for the year ended 37
December 2024 which comprise the statement offinancial activities, the balance sheet, the statemer)t of cash
flows and notes to the financial statement5, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK
and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its
incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis For Oplnlon
We conducted our audit in aceordancewith International Standards on Auditing (UK) IISAS (UK)) and applicable
law. Oijr responsibilities under those standards are further described in the Auditor's responsibilities for the
audit of the financial statements section of our report. We are independent of the charity in accordance
with the ethical requiiements that are relevant to our audit of the financial statements in the UK, including
the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
basis for our opinion.
Conclusions Relating To Golng Concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the Financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue
as a going concern for a period of at least twelve months from when the financial Statements are avthorised
for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described irb
the relevant Sections of this report.
WSLiSirtW￿￿
37
DEITA PHIIANTHROPIES

Other Information
The other information comprises the information included in the annual report other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other infoimatior) contained
within the annual report. Our opinion on the financial statements does not cover the other information and we
do not express any form of assurance conclusion thereon. Our responsibility is to read the other inFormation
and. in doing so, considerwhetherthe other information is materially inconsistentwith the financial statements
or our knowledge obtained in the course of the audit. or othewise appears to be materially misstated. If
we identify such material inconsistencies or apparent material misstatements, we are required to determine
whether this gives rise to a material misstatement in the financial statements themselves. If, based on the
work we have performed. we conclLtde that there is a material misstatement of this other information, we are
reqL*ired to report that fact.
We have nothing to report in this regard.
Matters On Whlch We Are Requlred To Report By Exception
We have nothing to report in respect ofthe following matters in relation to which the charities (Accounts and
Reports) Regulations 2008 requires us to report to yov if, in our opinion-
the information given in the financial statements is inconsistent in any material respect with the tiustees,
repoTt; or
sufficient accounting records have not been kept; or
the financial statements are rbot in agreement with the accourbting records., or
we have not received all the information and explanations we require for our audit.
Responslbllltles Of Trustees
As explained more fully in the statement of trustees, responsibilities. the trustees, who are also the directors of
the Charity forthe Purpose of company law, are responsible for the preparation ofthe fir)ancial statements and
for being satisfied that they give a true and fair view. and for such internal eontrol as the trustees determine is
ecessary to enable the preparation of financial statements that ale free from material misstatement, whether
due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the
charlty's ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the trustees either intend to liqvidate the charitable
company or to cease operations, or have no realistlc 8lteTnative but to do so.
Auditor's Responslbilities For The Audlt Of The Financial Statements
We have been appointed as auditor under section 144 of the charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect therevnder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance 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 misstatement when it exists. Misstatements cari arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statemer)ts.
32
DELTA PHILANTHROPIES

Th• •xt•nttowhleh oui procedvres are capable ofd8t8etlng Irr•gularltl¢$, In¢ludln9 fraud, Is detalled below.
Id•ntlfy and 8s5•$S the rlsk ol mèterial mlsst8tement of thè flnanelal statements, whether due to fr8ud
OT error, deslgn and paiform è¢Jd5t procedures responsive to those risks, and obtaln avdlt evldence
that Is svfficlent and appropriate to provide a basls for Our oplnlon. The risk of not detecting a mateTial
misstatement resultlngfromfraud Is hlgherthan forone resuliing from8rror. 8$ fraud may Involve¢olluslon,
forgery, Intentional omlssions, mlsrepiesèntstloll$ gr the override of Internal control.
Obtaln an vndèist8ndlng of Intern81 control relevant to tha audlt In ordor to dèslgn audlt proeedurès
that ore appropriate in th• clrcumst8nce5, but not foT the pvrposes of expressing an oplnlon on the
èffectlvèn•ss of the Company's Internal control.
Evaluate th8 8pproprlat4nèss olaceouThtlng policies vsed&nd th• reasonabl•n•ssof8ceountlng •stlmatès
and the related disclosures mede by the dlreetor$,
Conclude on iho apptopriateness ol ihe directors, use of th• golng eortcèrn b8$ls of 8ceountlng and,
basedon lh8 avdilevidencèobt8in8d,whèthera material uncertalntyexists related toeventorconditions
that may ea$t slunlllc•nt doubt on the company's abllity to contlnuè as a golng eoncerh. If we cencludts
Ihat a material un¢ertalnty 8xlstS, W8 are required to draw atlention in ovf auditOTS report to the related
di$closL¢Te in the financial slatements or, il such dlselosuios or& Inadequate to modlfy our oplnlon, Our
concluslons arè b8séd on thè audlt èvldence obtained up to the date ol our audltor's r•port. How8ver,
fvture events or conditions may cause the company to cease to continue as a golng concern.
Evaluate thè overall pré$entatlon, structuie and content of the flnanclèl statamonts, Ineludlng tho
disclosures, and wheth*r th• fin8ncl81 st8t*m8nt$ ￿PreSent the vnderlying tiansactions and events in
mannèr that achleves lali pTesentation.
A further d¢5CTlptlon of ovr iesponslbilities is avallable on th& Flnancl81 Rapo¥tlng Councll's w¢bsltè &t',
hllps'.// www.frc.org.uv8uditorsr8sponsibiliti0s. This description forms part ol ovr auditor's ieport.
Use of Our Report
Thls r•port Is madè solgly to th8 charity's Irustees, as a bodyi In accordance wlth P8rt 4 of th8 Ch8rltl•s
(Accounts and Reports) Regvlations 2008. Our 8udit work has b9en undert8ken $0 that we might state to
thè charlty's tfustee5 those matlers we are reouired to slale to them In an audltcr's report and for no other
purpose. To th6 fullèst èxtént pèrmltted by law, wè do not accept or assume respon51bility to anyone other
th?D the charity and the charity's trustees as a bodyi lor our audlt work, for thls f¢port, or for the oplnlons
we h8ve formed.
H•x•l Day Bie (Honi) Fe4 Dch• (S•nlor St•tutory Audltor)
For and on behalf ofXeiTradin Avdit Llmited, Statutory Audltor Chartered Aeeountants
46-48 East street
Ep50m
Surtay
KT17 IHQ
Unlted Kingdom
$19notUTg.'
X•ln8dln Audli Limlted Is eliglble for appolntment as audltor of the Charlty by vlrtv& of Its ellglbllliy for
appointment as 8udltoT ol a comp8ny und¢r 5eetlon 1212 of thè Companlps A¢i 2006,
33
DEITAPFlllANTHIOHES

STATEMENT OF FINANCIAL
ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrieted
fund$ 2024
R*stri¢tod
funds 2024
Total Unrestri¢ted
R•$triet•d
2024 fvnds 2023 fund5 2023
Total
2023
Notes
Income from:
Donations and legacies
1,339.905 5,200,000
6,539,905
2,056,551
4,031,327
6,087,878
Total income
1,339,905 5,200,000
6,539,905
2,056,551
4,031,327
6,087,878
Expenditure on:
ch8ritable activities
other expenoliture
1,337,200
12,177
5,17S,452
6,512,652
12,177
1,863,991
4,377
3,800,479
5,664,470
4.377
10
Totsl expenditure
1,349,377
5,175,452
6,524,829
1,808,368
3,800,479
5,668,847
N•t Income/{expenditur¢)
and movement In funds
{9,472)
24,548
15,076
188,183
230,848
419,031
R•conclllation of funds:
Fund balances at
l January 2024
473,039
828,536
1,301,575
284,855
597,689
882,544
Fund b•l•n¢•s at 51
De¢embor 2024
463,567
853.084
1,316,6SI
473,038
828,537
1,301,575
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure delive from continuing activities.
34
DELTA PHILANTHROPIES

BALANCE SHEET
2024
2023
Notes
Curr•nt assets
Debtors
Cash at bank and in hand
12
26,125
1,412,690
26,125
1,292.128
1,438,815
1,318,253
Cr¢dltots: amounts falllng
du• wlthlnone year
13
(122,164}
06,678)
N•t eurrent assets
1.316,651
1,301,575
The funds of the charity
Restricted income funds
Unrestricted lund5
14
15
853,084
463,567
828,537
473,038
1,316,051
1.301,575
The company is entitled to the exemption from the audit requirement corbtained in section 477 of the
Companies Act 2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act
2006 with respect to accounting records and the preparation of financial statements.
The members have not required the comparby to obtain an audit of its financial ststements under the
requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepaied in accoidance with the provisions applicable to companies
subject to the small companies regime.
The financial statements were approved by the trustees on
/q/ao2s
Mr8 H E T Ma$lylw•
Trustee
Company registration number 10954151 (England and Wale51
35
DEITA PHILANTHROPIES

CASH FLOW STATEMENT
2024
2023
Not•s
Cash flows from op•ratlng aetlviti•s
Cash generated from operations
18
120,562
420,531
N•t cash generated from investlng a¢tlvltl•$
Net cash generated from finan¢lng *¢tlvltles
Net Increase In eash and ¢ash ¢qulval*nts
120,562
420,531
Cash 2nd c2sh èquivalents at beginning ol year
1,292,128
871,597
Cash and ¢ash •qvlv81ents at end of year
1,412,690
1,292,128
36
DELTA PHIIANTHROPIES

NOTES TO THE FINANCIAL
STATEMENTS
1. Aeeountlng Pollel•s
charity information
Delta Philanthropies 15 a private company limited by guarantee incorporated in England and Wales.
The registered office is c/0 Hill Dickinson LLP, The Broadgate Tower 20 Primrose Street, London, EC2A
2EW, United Kingdom.
1.1 Accountlng convention
The financial statements have been prepared in accordance with the charity's governing document. the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Charities SORP "Accounting and Reporting by charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 1021" The Charity is a Public Benefit Entity
as defined by FRS 702.
The finaricial statements are prepared in United States Dollars ($1, which is the funetional currency of
the charity. Monetary amounts in these financial statements are rounded to the nearest S.
The financial statements have been prepared under the historical cost convention. Imodified to include
the revaluation of freehold properties and to include investment properties and certain financial
instruments at fair valuel. The principal accounting policies adopted are set out below.
1.2 Going con¢ern
At the time of approving the financial statements, the trustees have a reasonable expectation that
the Charity has adequate resources to continue in operational existence for the foreseeable future.
Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial
Statement5.
1.3 charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used.
The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by
the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have
been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations ale recognised on receipt. Other donatlOn5 are recognised once the charity ha5 been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is reco9nised at the
time of the donation.
Legacies are recognised on receipt or othernise if the charity has been notified of an impending
distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is
treated as a contingent asset.
37
DELTA PHILANTHROPIES

1.5 Expenditure
Expenditure 15 recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paity, it is probable that 3 transfer of economic benefits will be required in settlement, and
the amount of the obligation can be measvred reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs
and shared costs, including support costs involved in undertaking each activity. Direct costs attributable
to a single activity are allocated directly to that activity. shared costs which contribute to more than
one activity and suppoit costs which are not attributsble to a single activity are apportioned between
those activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges are allocated on the portion of the asset's Use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at eall with banks, other short-term
liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts
are shown within borrowings in current liabilities.
1.7 Flnancial instrum•nts
The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section
12 '0ther Financial Instruments155ues' of FRS 102 to all OF its financial instiuments.
Financial instiuments are recognised in the charity's balance sheet when the charity becomes party to
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
8asic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using
the effective interest method unless the arrangement constitutes 3 financing transaction, where the
transaction is measured at the present valve of the fvture receipts discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.
Basic financial Ilabilities
Basic finaricial liabilities, including creditors and bank loans are initially recognised at transaction piice
unless the arrangement constitutes a financing transaction, where the debt instrument is measured
at the present value of the future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amortised.
Debt inst¥vments are svbsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as current liabilities if payment
is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors
are reeogni5ed initially at transaction price and subsequently measuied at amoTtised cost using the
effective interest method.
Dere¢ognltlon of financial liabilities
Financial liabilities are derecognisedwhen the Charity'scontractual obligations expire or are discharged
or cancelled.
1.8 Employee benefits
The cost ofany unused holiday entitlement is recognised in the period in which the employee's services
are received.
Termination benefits are recogni5ed immediately as an expense when the charity is demonstrably
committed to teiminate the employment of an employee or to provide termination benefits.
38
DELTA PHIIANTHROPIES

2. Critical Aecountinq £stimat•s And Judg•m•nts
In the application of the charity's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only
that period, or in the period of the revision and future periods where the revision affects both current
and future periods.
3. Income From Donations And Leg*clei
Unrestrrcted
Restrlcted
funds 2024 fund$ 2024
Total Unrestricted
2024 funds 2023
R¢strl¢t•d
funds 2023
Total
2023
Dtsnations and legacies
1,339,905 5,200.000
6,539,905
2,056,551
4,031,327
6,087,878
4. Exp•ndltur• On Charitable a¢tlvltl•s
Sustalnable Advo¢a¢y &
Livel¢hoods
Cap#¢lty
2024
2024
H•althcare
Educatlon
Tot•l
2024
2024
2024
Direct costs
Grant funding ol activities (see note Sl
728,804
3,869,057
671,475
5,269,336
share of support and governanee ¢osts
l$ee note O)
Support
Governance
63,252
53,503
189,513
160,308
711,750
64,990
964,515
278,801
728,804
116.755
4,218,878
1,448,215
6,512,652
Analysis by fund
Unrestricted funds
RestTiCted lunols
728,804
116,755
349,821
3,809,057
141.820
1,306,395
1,337,200
5,175,452
728,804
116,755
4,218,878
1.448,215
6,512,652
39
DEITA PHIIANTHROPIES

Prevlous year:
Sustalnabl•
Llv•llhood5
2025
Dlsaster Advocacy &
Relief
Capaclty
2023
2025
H•alth¢ar•
Edu¢#tlon
Total
2023
2023
2023
Dlr•¢t costi
Grant funding of activities
(see note 51
985,000
415,000
839,625
1,694,957
446,927
4,381,509
shar• of svpport and
gov¢rn•n¢• ¢osts {5•• note 61
Support
Governance
169,718
51,126
588,593
249,922
82,585
113,773
27,244
1,122,006
160.955
1,205,844
1,003,593
1,172,132
1,835,974
446,927
5,664,470
Analysls by fund
Unrestricted funds
Restricted lund5
205,844
1,000,000
1,169.773
2,359
488,374
1,347,600
1,863,997
3,800,479
1,003,593
446,927
1,205,844
1,003.593
1,172,132
1,835,974
446,927
5,664,470
5. Grants Payable
Su5talnable Llvellhoods
2024
Heèlthcère
2024
Edueatlon
2024
Total
2024
Grants to Instltutlons..
Education
Sustainable Livelihoods
Healthcare
other
671,475
671,475
714,673
3,869,057
14,131
714,073
3,869,057
14,131
728,804
3,869,057
671,475
S,269.336
Previous year:
Svstalnabl•
Llvtllhoodi
2023
Disaster
Rellef
2023
Advocaey &
Capa¢ity
2025
Healtk¢are
Edu¢otlon
Total
2023
2023
2023
Grant$ to Instltvtlons:
Education
Sustainable Livelihoods
Disaster Relief
Advocacy & Capacity
Healthcare
446,927
446,927
985.000
415,000
839,625
1,694,957
985,000
415,000
839,625
1,694,957
985,000
415,000
839,625
1,694,957
46,927
4,381,509
40
DEITA PHILANTHROPIES

6. Support Cost$ Allocat•d To Activiti•i
2024
2023
Staff costs
office Éxpenses
Bank charge5
Governance costs
951,449
7,121
5,945
278,801
1,095,318
19,545
7,144
160,954
1,245,516
1.282.961
Analy5ed between:
Sustainable Livelihoods
Disaster Relief
Advocacy & Capacity
Healthcare
Education
220,844
588,593
332,507
141,017
116,755
349,821
776,740
1,243,316
1.282.961
2024
2025
Governance costs comprls¢:
Audit fees
Accountancy
Leg21 and professional
5,805
264,022
8,974
7,605
119,338
34,011
278,801
160,954
7. Net Mov•m•nt In Fund¥
2024
2023
The net movement in funds is ststed after charging/lcreolitingl'.
Fees payable lor the audit of the charity's financial statements
5,805
7,605
8. Trustees
None ol the trustees lor any persons connected with theml received any rernuneration or benefits from the charity
during the year.
9. Employ••s
The average monthly number ol employees during the year was..
2024
Number
2023
Numb•r
UK charitable activities
Recharged Charitable activities
Totsl
Employment ¢osts
2024
2023
Wages and salarie5
951,449
1,095,318
The number of employees whose annval remuneration was more than $60,000 is as follows..
2024
Nvmber
2025
Numb•r
$90.001- $100,000
$180.001 $190,000
41
DEITA PHIIANTHROPIES

io. other Exp•nditur•
Unr•stflcted Unr•stricted
funds
funds
2024
2023
Financing c05t5
12,177
4.577
11. Toxation
The chaiity is exempt from tsxation on its activities because all its income 15 applied lor charitable purposes.
12. D•btori
2024
2023
Amounts f811ing due within on• y¢•v.
Other debtors
26,125
26,125
13. Cr•ditors: Amounts Falling Due Withln One Y•ar
202
2023
other creditors
A¢¢ruals and deferred income
735
121,429
913
15,765
122,104
10.678
14. Restrleted Funds
The restricted funds ol the charity comprise the unexpended balances of donations and grants held on trust subject to
specific conditions by donors as to how they may be used.
At l Janvary
2024
Incoming
resources
Resources
expended
At31
De¢¢mb•r
2024
The EtMA Philanthropies
Rockerleller Foundation VAN
Patrons NTDS Program Support
324,479
504,057
3,200,00(>
12,671.3951
1504,0571
2,000,000 12,000.0001
853,084
828.53fj
5.200,000
15,17S,452)
853,084
Previous year..
At 1 January
2023
Incomlng
res¢ur¢¢s
Resources
¢¥p•nd•d
At31
December
2023
The ELMA philanthropie5
Gender Justice Fund
Rockerleller Foundation VAN
The END Fund
4,000,000
13,675,521)
{2.3591
191,2731
131,327)
324,479
2,359
595,330
504,057
31,327
597.OB9
4,031,327 (3,800.479)
828,537
828,536
42
DELTA PHIIANTHROPIES

15. Unr•stri¢t•d Funds
The unrestricted Ivnds ol the charity comprise the unexpended balances ol donations 2nd grants which are not subject
to specific conditions by donors and grantors as to how they rllay be used. These include designated funds which have
been set aside out ol unrestricted funds by the trustees for specifie purposes.
At 1 January
2024
In¢omlng
re50urc•s
Rosourc•8
expended
At31
D•cemb•r
2024
General funds
473,039
1,339,90S
11,349.3771
463.567
Prevlous year:
At 1 Janvary
2023
In¢omlng
r•stsurc•s
R•$ovrc•s
oxpended
At31
December
2023
General funds
2B4.855
2,OS6,SS1
(1.808.368)
473.038
Warning.. Balance c/f Irorn prior period does not equal balance b/[ in current periocl
473.039
10. Analysis Of N•t As#•ts B•tw••n Funds
Unr¢strletèd
fund5
2024
R•8tricted
funds
2024
Tot•1
2024
At 31 December 2024:
Current assets/lliabilitiesl
463,567
853,084
1,316,651
463,567
853.084
1,316,651
Unr•5trl¢t•d
funds
2023
Restricted
funds
2023
Tot•1
2025
At 31 De¢ember 2023..
Current assets/iiiabilitiesl
473,039
828.536
1,307,575
473,059
828,536
1,301,57S
P•r bBlance sheot
Bèlanc• to allocate
473,038
(1)
828,537
1,301,575
17. Related Party TrBnsa¢tTons
There were no di5closable related party transactions during the year12023- none).
18. Cash Oenerat•d From Op•r8tions
2024
2023
Surplus lor the year
15,076
419,031
Movements in WOTklng eaplt•l..
Increase in creditors
105,486
1,500
C8sh generated from oper•tlon$
120,562
420.531
19. Analysis Of Changes In Net Funds
The Charity had no tn)terial debt during the year.
43
DELTA PHIIANTHROPIES