Financial Accountability
China Children and Teenagers' Fund was established in 1981 by the All China Women's Federation. It was China's first independent and legally sanctioned charity fund, raising funds for the mission of caring, fostering and educating China's children and teenagers, especially those in impoverished areas. CCTF is managed by an independent Board of Directors, registered and regulated at the Ministry of Civil Affairs, and supervised by the All-China Women's Federation.
CCTF relies entirely on its own fund raising efforts both at home and abroad and receives no funding from government. Its accounts are audited by Deloitte and are available for public inspection. Deloitte, as our auditor, has conducted strict supervision to us.
According to its audition report, In 2009 the charity raised revenues of CNY 286,146,500.59 yuan, and spent CNY 325,933,341.25 yuan on its charitable activities, projects and programmes, which accounts for 110.74% of the annual revenue. The main reason is that the main revenue from 2008 earthquake relief was spent in 2009. The earthquake relief
project was one of the main tasks for CCTF in 2009 and at the end of 31st, Dec.2009, we have received donations of
RMB305,319,613.80 yuan and spent 234,762,007.26 yuan.
CCTF has spent 8,546,794.24 yuan on its administration and management, which was 2.62% of its total revenue in 2009.
Please see the balance sheet and activities statement below.
