For the year ended December 31, 2024 — with comparative financial information for the year ended December 31, 2023. Audited by Finance Auditing Group
Finance Auditing Group (FAG), acting as independent auditor, has examined the consolidated financial statements of Resilience Worldwide and Related Entities for the year ended December 31, 2024.
Unmodified (Clean) Audit Opinion — The consolidated financial statements present fairly, in all material respects, the financial position of Resilience Worldwide (RWW) as of December 31, 2024, in accordance with U.S. Generally Accepted Accounting Principles (GAAP).
We have audited the consolidated financial statements of Resilience Worldwide (RWW) and Related Entities (the Organization), which comprise the consolidated statement of financial position as of December 31, 2024, and the related consolidated statements of activities, functional expenses, and cash flows for the year then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Organization as of December 31, 2024, and the changes in their net assets and their cash flows for the year then ended, in accordance with U.S. generally accepted accounting principles.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are required to be independent of the Organization and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. In performing an audit in accordance with GAAS, we: exercise professional judgment and maintain professional skepticism throughout the audit; identify and assess the risks of material misstatement; obtain an understanding of internal control relevant to the audit; and evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management.
As of December 31, 2024, with comparative information as of December 31, 2023. All amounts in thousands (USD).
| Description | 2024 | 2023 |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents | 5,496 | 7,112 |
| Grants and contracts receivable | 3,528 | 4,650 |
| Contributions receivable, net | 1,191 | 1,690 |
| Inventory | 603 | 360 |
| Prepaid expenses and other assets | 399 | 340 |
| Total current assets | 11,217 | 14,152 |
| Non-Current Assets | ||
| Investments | 8,661 | 12,280 |
| Operating lease right-of-use assets, net | 1,239 | 2,200 |
| Property, plant and equipment, net | 691 | 850 |
| Beneficial interests in perpetual trusts | 704 | 1,040 |
| Due from partner entities, net | 1,191 | 1,650 |
| Total non-current assets | 12,486 | 18,020 |
| Total Assets | $23,700 | $32,172 |
| Description | 2024 | 2023 |
|---|---|---|
| Liabilities | ||
| Accounts payable and accrued liabilities | 2,848 | $4,500 |
| Operating lease liabilities | 1,354 | 2,360 |
| Deferred revenue | 4,119 | 4,580 |
| Postretirement benefit obligations | 196 | 280 |
| Other long-term liabilities | 691 | 600 |
| Total liabilities | 9,206 | 12,320 |
| Net Assets | ||
| Without donor restrictions — undesignated | (961) | 60 |
| Board-designated operating reserve | 528 | 980 |
| Board-designated endowment | 5,314 | 7,730 |
| Investment in property and equipment | 691 | 850 |
| Net assets without donor restrictions | 5,574 | 9,620 |
| Purpose restricted | 6,804 | 7,190 |
| Donor-restricted endowment corpus | 2,290 | 3,380 |
| Beneficial interests in perpetual trusts | 704 | 1,040 |
| Net assets with donor restrictions | 9,808 | 11,610 |
| Total Net Assets | $14,496 | $19,852 |
Distribution of total assets
2020–2024 (USD millions)
For the year ended December 31, 2024. All amounts in thousands (USD).
| Description | Without Donor Restrictions | With Donor Restrictions | 2024 Total | 2023 Total |
|---|---|---|---|---|
| Operating Revenue | ||||
| Contributions — cash and financial assets | $6,240 | $3,194 | $9,434 | $12,010 |
| Contributions — non-financial assets | 17 | 1,000 | 1,017 | 950 |
| U.S. government grants and contracts | 11,900 | — | 11,900 | 18,500 |
| Sponsorships | — | 800 | 800 | 1,375 |
| Fee-for-service | 62 | — | 62 | 30 |
| Bequests | 210 | 10 | 220 | 380 |
| Investment return appropriated | 180 | 57 | 237 | 350 |
| Other | 5 | 25 | 30 | 30 |
| Total operating revenue before releases | 18,614 | 5,086 | 23,700 | 33,625 |
| Net assets released from restrictions | 3,940 | (3,940) | — | — |
| Total operating revenue | 22,554 | 1,146 | 23,700 | 33,625 |
| Operating Expenses | ||||
| Program services — direct activities | 5,050 | — | 5,050 | 8,030 |
| Program services — partner-delivered | 13,250 | — | 13,250 | 20,550 |
| Program development and policy | 1,350 | — | 1,350 | 2,020 |
| Total program services | 19,650 | — | 19,650 | 30,600 |
| Management and general | 1,180 | — | 1,180 | 1,620 |
| Management and general — partner | 500 | — | 500 | 1,010 |
| Fundraising | 1,870 | — | 1,870 | 2,650 |
| Total supporting services | 3,550 | — | 3,550 | 5,280 |
| Total Operating Expenses | 23,200 | — | 23,200 | 35,880 |
| Operating surplus (deficit) | (646) | 1,146 | 500 | (2,255) |
| Net investment return in excess | 300 | 230 | 530 | 485 |
| Foreign currency exchange (loss) | (10) | — | (10) | 6 |
| Endowment contributions | 20 | 10 | 30 | 80 |
| Total nonoperating | 310 | 240 | 550 | 571 |
| Increase in net assets | (336) | 1,386 | $1,050 | $(1,684) |
Program expenditure of $19.65 million across six core sectors.
| Country | 2024 Expenditure | Primary Sector |
|---|---|---|
| Ethiopia | $3.10M | Health, Livelihoods |
| DRC | $2.55M | Health, WASH |
| Somalia | $2.20M | Food Security |
| Bangladesh | $1.98M | Education, DRR |
| Yemen | $1.74M | WASH, Health |
| Total Top Countries | $19.65M |
| Description | 2024 | 2023 |
|---|---|---|
| Increase in net assets | $1,050 | $(1,684) |
| Depreciation | 51 | 85 |
| Change in receivables | (298) | 1,050 |
| Change in deferred revenue | 1,016 | 320 |
| Net cash from operating activities | 819 | (280) |
| Purchases of investments | (1,016) | (1,820) |
| Proceeds from investments | 881 | 2,230 |
| Net cash from investing | (135) | 410 |
| Net increase in cash | $684 | $150 |
| Cash at beginning of year | 4,812 | 6,962 |
| Cash at end of year | $5,496 | $7,112 |