Page 69 - NZBRI_Annual Report 2017_FA
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Annual Report 2017 67
Where did our money come from? 2016 2017
Research Activity $572,486 $592,946
Investments $7,520 $40,794
Donations and fundraising $304,871 $303,105
Grants $510,000 $351,091
Bequests $1,050,601 —
Other $2,451 $132
Total revenue $2,447,929 $1,288,068
What did we spend our money on? 2016 2017
Research $597,507 $654,277
Occupancy $370,677 $383,172
Administration $296,648 $294,139
Total expense $1,264,832 $1,331,588
A word on operational costs
There are significant challenges in fairly reflecting operational costs for many
not for profits, including NZBRI. We are keenly aware of the need to keep
administrative costs at a reasonable level, but must also maintain all the usual
office and assessment systems that allow us to fulfil our purpose, all of which carry
a cost. We are confident that we run the organisation efficiently and without waste
and all supporters can be assured the majority of their generous donations get
directly to research support.
