Our Finances
We believe this world gets a little bit better when we are open and honest with one another, so here is a peek into our finances. Have questions or concerns, or want more details? Feel free to contact us.
Key Metrics
- We subsidize over 97% of our costs - allowing us to offer scholarships to over 90% of all our trainees.
- 69% of our funding has come from individuals and families.
- 16% of our funding has come from corporations, businesses, churches and other civic groups.
- 6% of our funding has come from family trusts and small foundations.
- Though we have received approximately 5% of our funding from the 2020 and 2021 Payroll Protection Program as part of COVID relief, we do not rely on government grants.
The annual growth of Cultivate reflects some exciting trends!
- Our income has always covered our costs and allowed us to expand our program as the demand grows. We anticipate 2022 to be a year of even greater expansion as we continue to offer our programs to a new cohort of trainees, as well as expanding our programming across the globe.
- We are working diligently to diversify our sources of funding, so that our programs have stability to allow for even greater impact.
A few explanations:
- From 2016 to 2019, all donations designated to our trainees' programs were disbursed to those programs and are reflected as regrants. Eight percent of all designated donations were retained by Cultivate to cover credit card processing fees, bank fees, transfer fees, accounting and other costs associated with accepting, managing and disbursing those funds. Due to our limitations, we retired this program at the end of 2019. The programs using this service by our trainees were given referrals to other fiscal sponsorship organizations we trust so that their programs would not be affected by this change.
- We know that strong, well-managed nonprofits aim for 80% of all their expenses to be allocated to their program and that is also our goal. As any startup organization, it takes more resources to initiate an effort than it does to maintain it. We ask you to be patient with our administrative expenses, knowing we're working diligently to lower these costs and focus our efforts on our program.
