Looking at the possibility of generating funds and creating partnership with International investors to support in CSR activities, SISL released CSR Financial Report dated September 26, 2019.

As at the period of release, the total of 152,849.57 USD equivalent to NGN55,080,000.00 has been spent to support different categories of CSR activities as follows:

  • Education and Sponsorship: 18,010.68 USD equivalent to NGN6,500,000.00
  • Events Sponsorship: 12,372.22 USD equivalent to NGN4,500,000.00
  • Charity and Other Donations, 37,744.44USD equivalent to NGN13,500,000.00
  • Job Creations:84,722.22 USD equivalent to NGN30,500, 000.00

It was projected that before the end of the Year 2019 from the month of August 2019, there might be need for the company to generate the total of 55,555.56 USD equivalent to NGN20,000,000.00 more or less to be able to meet the high demand of people’s daily need for support.

The CEO in his comment recognized the need to fast track the implementation of getting partnership to support this project.

SUMMARY OF STEPH PIOTTI FOUNDATION EXPENSES FROM YEAR 2016- 2018

S/N

DESCRIPTION

YEAR 2018

YEAR 2017

YEAR 2016

1.

ACCOMODATION

2,561,100

2,730,000

5,027,000

2

EMPOWERMENT

6,977,373.05

4,321,550

5,298,143

3.

MEDICALS

1,654,520

2,332,000

2,175,800

4.

SPONSORSHIP

33,869,062.50

10,071,705

9,884,570

5.

CHARITY

3,303,200

1,835, 500

1,584,000

6

ADMIN/GENERAL EXPENSE

10,293,241.84

4,289,579.25

0

7.

AUDIT SERVICES

1,050,000

1,075,000

0

8.

LEGAL SERVICES

150,000

200,000

0

 

TOTAL

56,558,600.59

26,855,334.25

23,969,513.00

STEPH FOUNDATION CHARITY EXPENSES 2018

DESCRIPTION

Amount

Direct Charity Contributions

ACCOMMODATION

2,561,100.00

EMPOWERMENT

6,977,373.05

MEDICAL

1,654,520.00

SPONSORSHIP

33,869,062.50

CHARITY

3,303,200.00

TOTAL

48,365,255.55

Administrative Cost

Stationary

92,950.00

Other Expenses

10,073,607.53

Bank Charges

126,684.31

Audit Services

1,050,000.00

Legal Services

150,000.00

TOTAL

11,493,241.84

GRAND TOTAL

59,858,497.39

 

STEPH FOUNDATION CHARITY EXPENSES 2018 (1st Quarter)

DESCRIPTION

Amount

Direct Charity Contributions

ACCOMMODATION

2,333,750.00

EMPOWERMENT

1,280,000.00

MEDICAL

864,140.00

SPONSORSHIP

2,770,330.00

CHARITY

618,870.00

TOTAL

7,867,090.00

Administrative Cost

Stationary

34,450.00

Other Expenses

70,000.00

Bank Charges

31,504.61

Salaries

920,717.00

Audit Services

728,700.00

Legal Services

150,000.00

TOTAL

1,935,371.61

STEPH FASHION SHOP EXPENSES TOTAL 1,463,720.00

GRAND TOTAL

11,266,161.61

Total Income 2018 = 11,346,895.47

STEPH FOUNDATION CHARITY EXPENSES 2017

DESCRIPTION

Amount

Direct Charity Contributions

ACCOMMODATION

2,730,000.00

EMPOWERMENT

4,321,550.00

MEDICAL

2,332,000.00

SPONSORSHIP

10,071,705.00

CHARITY

1,835,500.00

TOTAL

21,290,755.00

Administrative Cost

Assets

284,800.00

Other Expenses

832,230.00

Bank Charges

67,882.25

Salaries

3,104,667.00

Audit Services

1,075,000.00

Legal Services

200,000.00

TOTAL

5,564,579.25

GRAND TOTAL

N26,855,334.25

Total Income 2017 = 26,878,246.99

Starting from 2016, Steph Foundation will be audited by the world wide known company, Deloitte. The new auditors will guarantee the highest level of transparency to our foundation.

MISSION

To support the least privileged individuals, offering more chances in life.

VISION

Starting from an initial capital of 5 million Naira (year 2014) to increase constantly and become a leading charity/skills development foundation in Nigeria.

Motto

  • "Helping the persons in need is a privilege for few"
    Stefano Piotti
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