The year we just finished was really an odd one. The economy in Ukraine was actually in worse condition than the US. The “official” inflation rate was over 20%. When you combine this kind of inflation with our growth in ministry, we were forced to increase spending by as much as 65% in some areas. The overall increase was just over 56%.
We had all the elements of a “perfect storm.” The US economy put a strain on our partners. We feel blessed that 2009 giving matched 2008. When you consider we had a capital campaign asking for donations over and above our operating budget and 2009 could have been a disaster.
The strength of the US dollar relative to the Ukrainian currency gave us a very favorable exchange rate. Our dollars went 59% farther in 2009 than they did in 2008! Notice the similarity of those two numbers! We increased ministry costs in local currency by 56% and actually spent 2% fewer dollars.
Did I say this was an odd year? Maybe it was more of a God year.
Friday, January 29, 2010
Thursday, January 14, 2010
2009 Year-end
2009 was a year of growth for Mulberry International. We were able to finish the third unit at Dyetski Dom. There are now 28 children living in these three Christian homes. And, this is a building built by the Soviet Union as a kindergarten. Children were to begin their Communist-Atheist indoctrination here!
A second transitional living home was added in October. There are now seven teens in these two homes who are too old for the state institutions but not ready for life on their own. All seven are still in school.
We continue to work with hospitals in Simferopol and Sevastopol. In addition to providing basics (food, medicine and diapers), we were able to make some physical improvements in both locations.
For the second year in a row, we received donations from over 170 individuals and organizations. If you would like more information on Mulberry’s ministries or its finances, please contact us at Mulberry International, PO Box 43623, Louisville, KY 40253.
Don't grow weary,
Charles
A second transitional living home was added in October. There are now seven teens in these two homes who are too old for the state institutions but not ready for life on their own. All seven are still in school.
We continue to work with hospitals in Simferopol and Sevastopol. In addition to providing basics (food, medicine and diapers), we were able to make some physical improvements in both locations.
For the second year in a row, we received donations from over 170 individuals and organizations. If you would like more information on Mulberry’s ministries or its finances, please contact us at Mulberry International, PO Box 43623, Louisville, KY 40253.
Don't grow weary,
Charles
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