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2009/2010 has been another challenging year for both the Commercial and not-for-profit organisations. 2009/2010 has seen the world go through the Global Financial Crisis which has seen many an organisation downsize and cut their spending. Through all this, Allergy NZ has been no different. We have managed through these very difficult times and in the financial year ended 31 March 2010, Allergy NZ made a small profit of $6,943. This is due to the difficult decisions that Allergy NZ made during the year to keep the organisation safe and focused on its core activities. While it is sad to state that redundancies were necessary and what little discretionary spending there may have been was cut, it is great to know that these very difficult decisions have resulted in this profit and in keeping Allergy NZ safe for the future. Due to the Global Financial Crisis both personal and corporate discretionary spending has been cut and with this, the not-for-profit sector has seen donations reduce. Allergy NZ has been no different and with what funding is available there are multiple deserving organisations all fighting for their piece. Due to this we would like to thank the following funders for their continued support, COGS, Sir Peter Leitch, Ted and Mollie Carr Endowment Fund, Lotteries, Pub Charity and all other funders outlined in the Audited report. As a result of the funding restrictions Allergy NZ has been actively looking for new sources of funding and during 2009/2010 we signed a sponsorship deal with Electrolux. This is a great new adventure where corporate and not-for-profit organisations can work together to align both parties strategic outlook. In the corporate environment we have been talking about green shoots since the beginning of the year. Despite this, the economic outlook for 2010/2011 and beyond is still very fragile. The latest economic forecasts show employment below 6% but the environment and especially for the not-for-profit sector is going to be a challenging time for years to come and we will be looking at even more opportunities to secure a safe and secure further for Allergy NZ. The success of Allergy NZ during these times could not be possible without the support from the staff, board, charitable organisations and volunteers that make Allergy NZ what it is. While 09/10 has been very difficult, we have left this year in a positive position with a great outlook for the future. Matthew Leaning Treasure August 2010 |