USD 87.6 Million for LWF Projects and Programs in 2008

Total income for the Lutheran World Federation (LWF) in 2008 amounted to USD 102.9 million compared to USD 100.2 million the previous year. According to the recently published LWF Annual Report 2008, the LWF member churches and their related agencies provided financial assistance amounting to USD 68.8 million toward the organization’s administrative support and programs.

The remainder included income from United Nations’ agencies, different governments, local income in the field programs and interest earned on short-term deposits. In 2008 the LWF Secretariat expenditure totaled USD 101.3million, compared to USD 96.8 million in 2007. Out of this amount, USD 13.7 million was used for coordination, while USD 87.6 million was distributed to LWF projects and programs. In addition, the total expenditure includes a provision to cover actuarial pension liabilities of USD 549,000.

The Department for World Service spent USD 81.8 million for its work in 36 countries. Some USD 14.1 million went to activities of the Department for Mission and Development; Department for Theology and Studies, USD 1.2 million; and USD 4.2 million to the General Secretariat. The LWF financial statement in the past year showed a USD 1.06million surplus. By the end of 2008, the organization's reserves amounted to USD 22.5 million.

The LWF Foundation - Endowment Fund had an amount of CHF 9.7million by the end of the year. The Fund was registered in April1999 to supplement financial support for the organization’s work. Its current target is CHF 20 million by 2017, but the long-term goal is to reach CHF 50 million.

Produced in July 2009 with the theme "A Reconciling Communion,"the 2008 Annual Report highlights LWF's work through its Geneva Secretariat units and field offices. The 36-page full-color brochure includes focuses on food security, sustainability,healing and reconciliation, communion as a gift and task, and preparations for the 2010 LWF Eleventh Assembly, with the theme"Give Us Today Our Daily Bread."

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