Financial Transparency

General

As a public organization that relies on the support of the civilian society and business sector, we believe in full transparency. The Latet mission is to help needy populations, mobilize Israeli citizens into action, increase social awareness and impart values of mutual responsibility and giving.

We believe that succeeding in the important challenges that face us requires full trust, honesty, professionalism and transparency. It is only in this way that we will be able to create a significant, comprehensive and stable operation that can provide maximum relief and generate change.

As part of our values of transparency, we deem it fit to present full details on the financial operations of Latet, including data relating to salary. In addition, the financial reports and balance sheets, audited by Ernst & Young Kost Forrer Gabbai & Ksirrer are open for public review at the Organization offices. If you wish to comment, assess or ask any questions, feel free to contact us.

Donation Designation

The designation of all monetary donations is unilaterally determined by the donor. If he/she so chooses, the donations are routed to separate bank accounts, pursuant to specific projects. In doing so, we ensure that the donors’ money reaches the intended objective. Following is a list of the bank accounts for our projects:

Food For Life 12-609-200900

I am For You 12-609-300301

Latet with Love 12-609-300700

Latet Health 12-609-200102

Overseas Projects 12-609-200803

Special Projects 12-609-200501

Latet Budget

Latet is a non governmental, non political and non partisan organization. This characteristic is derived from our desire to truly represent the civilian society in Israel and operate as an independent entity. The Latet budget is comprised of donations only, most of which are received through the support of citizens and the private sector. The articles of incorporation bar governmental support exceeding 20% of its budget. In practice and out of choice, all Organization activities were funded by non government donations. 98% of the donations originate in Israel.

2008 Financial Data Budget

2008 Annual turnover: 37,656,220 NIS

Forecast for Monetary donations: 14,790,820 NIS.

Forecast for cash equivalent service donations:1,865,400 NIS.

2007 Financial Data

2007 Annual turnover: 34,056,807 NIS.

Monetary donations: 11,980,654 NIS.

Value of food and products collected, purchased and distributed: 24,413,055 NIS

Cash equivalent service donations: 2,586,748 NIS.

2006 Financial Data

2006 Annual turnover: 40,082,000 NIS.

Monetary donations: 12,706,000 NIS.

Value of food and products collected, purchased and distributed: 30,927,000 NIS

Cash equivalent service donations: 2,446,000 NIS.

2005 Financial Data - Budget

2005 Annual turnover: 28,331,000 NIS.

Budget distribution by activity:

Projects in Israel: 87%

Projects abroad: 13%

Food for Life project compared to overall Organization activities: 78%

Monetary donations: 9,764,000 NIS.

Organization donation distribution by donor type:

Private donors 51%

Companies 40%

Foundations 9%

Value of food and products collected, purchased and distributed: 21,805,000 NIS

(of which 5,000,000 NIS were carried over from 2004)

Cash equivalent service donations: 3,527,000 NIS.

2004 Financial Data based on an Audited Financial Report

2004 Annual turnover: 19,746,000 NIS.

Monetary donations: 10,710,000 NIS.

Organization donation distribution by donor type:

Private donors 63%

Companies 27%

Foundations 10%

Value of food and products collected, purchased and distributed: 8,432,000 NIS

Cash equivalent service donations: 2,930,000 NIS.

Overhead Expenses

Latet strictly adheres to guidelines of proper and efficient management and maintains a reasonable salary level in order to recruit quality personnel, on the one hand, while channeling most of its resources to humanitarian activities, on the other. The share of organizational expenses in the entire budget is: 2004 – 6%, 2005 – 5%, 2006 – 5%, 2007 - 6% Thus, 94% of the Organization budget is directly allocated to humanitarian activist. This manner of operation illustrates our fundamental vision – saving in overhead in order to help the needy as much as possible.

Personnel

Over 4,000 volunteers are registered at Latet. The chairman and members of the board also act on a voluntary basis. The volunteering hours in 2004 reached 95,374, 168,502 in 2005, 176,000 in 2006 and 189,500 in 2007. Despite its broad scope of activity and professional practices, Latet currently employs only 25 full and part time salaried employees . The quantitative ratio of employees/volunteers at Latet is currently one salaried employee for every 200 volunteers!

Gross salaries for Latet employees

Part Time Project Coordinator 5,000-6,000 NIS

Full Time Project Coordinator 6,000-8,000 NIS

Project / Department Management 6,500-8,000 NIS

Fundraising Coordinator 8,000-10,500 NIS

Marketing/ Fundraising Management 12,000-13,000 NIS

Vice President 13,000 NIS

General Manager 21,000 NIS

Services and Administration

As part of our policy toward minimizing overhead costs, and with the help of companies and private individuals who offer their services voluntarily, the Organization is proud of its ability to maximize the value of the donations for helping the needy populations.

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