Nigeria annual report 2018 Zakat Foundation

Zakat Foundation Nigeria annual report 2018

Zakat Foundation
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Zakat Foundation Annual repot
June 30, 2022
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EXPENSES $

REVENUE $

NET ASSETS $

Zakat Foundation™ Nigeria is a non-profit organization that works towards empowering the less privileged and vulnerable members of the society through a range of programs and initiatives. The organization operates with the core objective of alleviating poverty and promoting sustainable development across the country.

In its annual report for the year 2018, Zakat Foundation™ Nigeria highlighted the impact of its programs and initiatives across various communities in the country. The report provided a comprehensive overview of the organization's financial performance, achievements, and challenges during the year under review.

The report indicated that Zakat Foundation™ Nigeria was able to reach out to a significant number of individuals and communities across the country through its various programs. One of its major programs during the year was the Zakat distribution initiative, which involved the collection and distribution of Zakat funds to the needy. The initiative was successful in reaching out to over 20,000 beneficiaries in different parts of the country.

In addition, the organization's health program, which focused on providing medical support and assistance to the less privileged, was also successful in providing support to thousands of individuals across the country. The program included free medical check-ups, provision of drugs, and medical equipment to various hospitals and clinics in different parts of the country.

The annual report also highlighted the organization's efforts towards promoting education and skill acquisition among the youth. Zakat Foundation™ Nigeria provided support to schools and educational institutions, as well as scholarships to deserving students. The organization's vocational training program was also successful in providing skill acquisition training to over 2,000 individuals across the country.

In terms of financial performance, the report indicated that Zakat Foundation™ Nigeria was able to achieve its revenue targets for the year, with significant contributions from individual donors and corporate organizations. The organization was also able to manage its expenses effectively, ensuring that its programs and initiatives were executed in a cost-effective manner.

In conclusion, the Zakat Foundation™ Nigeria annual report for 2018 demonstrated the organization's commitment to its core objectives of poverty alleviation and sustainable development. Through its various programs and initiatives, the organization was able to impact the lives of thousands of individuals and communities across the country. The report also highlighted the organization's financial transparency and accountability, which are essential in ensuring continued support and trust from donors and stakeholders.

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Zakat Foundation Nigeria annual report 2018 All of our Zakat Foundation finances are independently audited in line with Charity Commission rules in Nigeria Read our annual reports to find out more: 2022 Zakat Foundation Annual Report In 2022, over 73,570 Muslims trusted Zakat Foundation to distribute their Zakat worldwide. It is a privilege to help Zakat payers with this important commitment. For those who have been paying Zakat or making voluntary donations to us from 1996 .in this year 2022 alone Zakat Foundation helped over 23156 Muslims worldwide .Together, we’ve helped individuals and families who have fallen on hard times or who are unable to move forward in their lives due to there financial circumstances.Zakat is a unique form of religious social welfare which has the power to uplift the entire Muslim community.Every dollar contributed by donors is used as efficiently as possible to maximize the impact on beneficiaries. Our due diligence process of tracking, monitoring, and allocating donations to our projects on the ground catalyzes the society and uplift the most impoverished people and communities. Please donate generously to support Zakat Foundation projects and all of your donations will be tax deductible*.

Introduction:

The Zakat Foundation™ Nigeria is a non-governmental organization (NGO) that is committed to improving the welfare of the less privileged and marginalized communities in Nigeria. The organization is based on the Islamic principles of Zakat, which encourages Muslims to give a percentage of their income to support the needy in society.

In this article, we will review the Zakat Foundation™ Nigeria Annual Report for the year 2018, which highlights the organization's achievements, challenges, and plans for the future.

Overview of Zakat Foundation™ Nigeria Annual Report 2018:

The Zakat Foundation™ Nigeria Annual Report for 2018 provides an overview of the organization's activities, accomplishments, and financial performance during the year. The report is divided into different sections, including a message from the Chairman, Executive Director's report, and financial statements.

Accomplishments:

The Zakat Foundation™ Nigeria achieved significant milestones in 2018, including the following:

Disaster Relief and Humanitarian Aid:
The organization provided humanitarian assistance to people affected by the Boko Haram insurgency, flood disasters, and other emergencies. The foundation distributed food, clothing, medical supplies, and shelter to the affected communities.

Education:
The Zakat Foundation™ Nigeria continued to provide scholarships to less privileged students to help them access quality education. In 2018, the foundation sponsored over 1,200 students in different levels of education, from primary to tertiary institutions.

Healthcare:
The Zakat Foundation™ Nigeria also made significant strides in improving access to healthcare services for vulnerable communities. The foundation established clinics and provided medical supplies and equipment to hospitals and health centers.

Economic Empowerment:
The Zakat Foundation™ Nigeria provided interest-free loans to small business owners and farmers to help them start or expand their businesses. The organization also provided vocational training to women and youths to equip them with relevant skills for entrepreneurship.

Challenges:

The Zakat Foundation™ Nigeria encountered some challenges in its operations in 2018, including the following:

Inadequate Funding:
The organization faced a significant funding gap, which affected its ability to implement all of its programs effectively. The foundation relied heavily on donations from individuals and organizations, and the funds were not always sufficient to meet the needs of the communities it served.

Security Challenges:
The Zakat Foundation™ Nigeria had to contend with security challenges, especially in the northeastern part of the country, where the Boko Haram insurgency was most prevalent. This made it difficult to access some of the affected communities and deliver humanitarian aid.

Limited Staff:
The Zakat Foundation™ Nigeria had a limited number of staff, which made it challenging to execute its programs efficiently. The organization had to rely on volunteers to complement its workforce, which sometimes led to delays in program implementation.

Financial Performance:

The Zakat Foundation™ Nigeria's financial performance for the year 2018 was impressive, considering the challenging operating environment. The organization recorded a total income of N1.6 billion, with a total expenditure of N1.5 billion. The foundation had a surplus of N100 million, which was carried over to the next financial year.

Conclusion:

The Zakat Foundation™ Nigeria's Annual Report for 2018 highlights the organization's achievements, challenges, and plans for the future. The organization made significant strides in improving the welfare of vulnerable communities in Nigeria, despite the funding gap, security challenges, and limited staff.

The Zakat Foundation™ Nigeria remains committed to its mission of providing humanitarian assistance, education, healthcare, and economic empowerment to less privileged communities in Nigeria. The organization's efforts are commendable, and it is hoped that it will continue to receive support from individuals, organizations, and the government to achieve its objectives.