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  • Sote Hub Summary For The Year Ended 2023

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    The SOTE HUB income statement for 2023 shows total income of $53,468,082.91 from grants and consultancy fees. Total expenses were $41,532,662.81, including large line items such as training and mentorship, travelling and entertainment, consultancy fees, and salaries. This resulted in net ordinary income of $11,935,420.10. Additional other income of $889,095.47 from exchange gains increased the total net income and profit for the year to $12,824,515.57.

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    Sote Hub Summary for the Year Ended 2023

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    The SOTE HUB income statement for 2023 shows total income of $53,468,082.91 from grants and consultancy fees. Total expenses were $41,532,662.81, including large line items such as training and mentorship, travelling and entertainment, consultancy fees, and salaries. This resulted in net ordinary income of $11,935,420.10. Additional other income of $889,095.47 from exchange gains increased the total net income and profit for the year to $12,824,515.57.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    2 views2 pages

    Sote Hub Summary For The Year Ended 2023

    Uploaded by

    grace
    The SOTE HUB income statement for 2023 shows total income of $53,468,082.91 from grants and consultancy fees. Total expenses were $41,532,662.81, including large line items such as training and mentorship, travelling and entertainment, consultancy fees, and salaries. This resulted in net ordinary income of $11,935,420.10. Additional other income of $889,095.47 from exchange gains increased the total net income and profit for the year to $12,824,515.57.

    Copyright:

    © All Rights Reserved
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    SOTE HUB INCOME STATEMENT FOR THE YEAR 2023

    Income
    Grants 17,126,119.65
    Consultancy 36,341,963.26
    Total Income 53,468,082.91

    Expense
    Accommodation 2,753,073.22
    Association Fees 5,000.00
    Awards and Grants 20,000.00
    Bank Service Charges 99,826.00
    Booths Payments 174,000.00
    Building and Repair 1,653,454.00
    Branding Materials 288,120.00
    Cheque Issue Fee 4,220.00
    Cleaning Services 113,259.00
    Communication 168,708.00
    Conference and Meeting 583,151.00
    Consultancy 11,151,751.28
    Courier Charges 49,335.00
    Depreciation Expense 1,070,840.00
    Domain Fees 4,700.00
    Entertainment 45,000.00
    Equipment Rental 50,000.00
    Gifts 199,637.00
    Grant 500,000.00
    Gross Salaries Expenses 2,261,603.00
    Insurance Expense 572,976.61
    Interest Expense 75,806.06
    Labour 138,880.00
    Laptop repair and Maintenance 12,033.00
    Legal 70,000.00
    Licenses & Permits 27,305.00
    Media & Visibility 423,528.00
    Medical 246,867.00
    Membership Fee 148,372.00
    Night Security 6,000.00
    Office Consumables 147,172.00
    Office Expense 401,029.07
    Office Supplies 27,000.00
    Overheads 518,000.00
    Painting 2,500.00
    Parking fee 6,450.00
    Penalties 213,500.00
    Printing & Stationaries 122,260.00
    Professional Fees 1,448,631.20
    Rechargeable Batteries 7,000.00
    Rent and Rates 2,525,000.00
    Repairs and Maintenance 10,500.00
    Sanitary 6,405.00
    School Fees 255,500.00
    Sponsorship 20,105.00
    Staff Welfare 58,000.00
    Start up Capital 117,000.00
    Software Installation 1,000.00
    Training and Mentorship 1,421,296.00
    Travelling and Entertainment 8,740,396.49
    Utilities 353,184.00
    Vehicle Expense 1,603,044.00
    Venue Hire 6,096.00
    Volunteer Allowances 604,148.88
    Total Expenses 41,532,662.81

    Net Ordinary Income 11,935,420.10


    Other Income/Expense
    Exchange Gain or Loss 889,095.47
    Total Other Income 889,095.47
    Net Other Income 889,095.47
    Profit for the Year 12,824,515.57

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