Financial report

The strategic and operational development of Empow’Her goes hand in hand with the development of its finances. Thanks to the increased support of a growing number of financial partners we have been able to intensify our action and increase our impact. ln 2022, Empow’Her’s accounts will break even and even show a slight surplus, enabling us to strengthen our equity capital and thus consolidate our economic situation.

Our resources

Opertaing income in 2022 will be 2774K€ , compared with 1955K€ in 2021 (pro forma accounts), an increase of +42%, reflecting the growth in projects supported by EHG. This amount includes 1,491K€ of dedicated funds still to be committed at 31/12/2021 (dedicated funds correspond to the difference between the amounts contracted during the financial years and the progress of the programmes during the following financial years). Of this amount, 621K€ remains to be committed at 31/12/2022.

ln 2022, our 4 biggest financial supporters will be the Agence Française de Développement, the European Social Fund, the PIC and the Cargill Foundation, which together will account for 33% of our resources in 2022.

ln terms of geographical distribution, 46% of our resources were targeted at projects in West Africa, and 38% in Europe, particularly France. lt should be noted that 12% corresponded to cross sectional support.

A change in the accounting method was made this year, concerning multi-year resources acquired from 2022 onwards. From 1 January 2022, and only for new grants acquired during the year, we record the unused portion of multi-year grants in the current year as deferred income. ln 2022, 2657K€ was recorded as deferred income in Empow’Her’s balance sheet (whereas the dedicated funds carried forward were recorded as expenses in the income statement). This amount corresponds to the portion of multiyear grants contracted in 2022 but not used by 31/12/2022. This change is intended to make our financial statements easier to read.

Jobs

Operating expenses for 2022 totalled €2.698k. 1,956k in 2021 (up 38% on 2021, in line with the development of new projects and the recruitment of new staff).

It should be noted that 2% of expenses correspond to communication costs, 5% to office costs and 8% to miscellaneous operating costs (including fundraising), reflecting a reasonable and controlled level of structural costs.

Empow’Her has finished to reimburse the deferred URSSAF and pension charges it benefited from in 2020 and 2021 during the Covid-19 health crisis.

Human resources

Expenditure on human resources increased by 166K€ ( + 23%) compared with the previous year, due in particular to:

a review of the wage grid to bring it more into line with the associative ecosystem

the recruitment of support functions in line with the group’s growth (communication, anance, etc.)

a larger workforce in order to successfully complete projects