2012 Annual Review

Letter from the president

Our world needs people of action. People who are willing to respond to God’s call by offering hope to others in need. Children and families living in poverty don’t need well-wishers. They don’t need warm thoughts. They need courageous people who act with conviction.

To read the rest of the president's letter, download this PDF.

Financial assessment of 2012 and outlook for 2013

(Letter from the CFO)

While 2012 was a challenging financial year for World Vision, we give thanks for donations that exceeded $1 billion and ministry impact that grew solidly. Total revenue in fiscal 2012 declined 4% to $1,019 million. Private cash donations, our most important measure of financial health, grew 2% in 2012 to $567 million.

To read our CFO's complete assessment and outlook, download this PDF.

Financial highlights

Your gifts are in good hands

In 2012, 85 percent of World Vision’s total operating expenses were used for programs that benefit children, families, and communities in need.

Revenue and overhead trends (in millions)

While 2012 was a challenging financial year for World Vision, we give thanks for donations that exceeded $1 billion and ministry impact that grew solidly. Total revenue in fiscal 2012 declined 4% to $1,019 million. Private cash donations, our most important measure of financial health, grew 2% in 2012 to $567 million. In addition to a difficult economic environment, cash donations in the past year were affected by the absence of a major disaster relief event (with Hurricane Sandy striking after the end of our fiscal year). Importantly, donations to World Vision’s core child sponsorship program rose 3%, and cash funding to the local communities of our sponsored children increased 10%.

Overhead rate (percent of total revenue)

Fundraising, management, and general expenses (sometimes called overhead) rose 5% in 2012. Our overhead rate (overhead expenses as a percent of total revenue) increased from 14.4% to 15.7%.

2012 World Vision U.S. Officers

Richard Stearns, President

When Rich Stearns became president of World Vision U.S. in 1998, he brought with him 23 years of corporate experience, including his time as CEO of Lenox Inc. Rich holds an MBA from the University of Pennsylvania's Wharton School.

Larry Probus, Sr. Vice President, Strategic Solutions and Chief Financial Officer

A CPA with more than 25 years' experience in public accounting and corporate finance, Larry directs World Vision's finance, information technology, legal, and corporate services functions.

Joan Mussa, Sr. Vice President, Donor Engagement, Advocacy, and Communications

With nearly two decades of experience serving at World Vision, Joan leads the organization's mass market and private donor fundraising, public policy, advocacy, branding, and media relations efforts. She holds an MA in film and television production and management from the University of Michigan.

Julie Regnier, Sr. Vice President, Human Resources

Julie has specialized in human resources for more than 20 years. She holds two master's degrees from the University of Southern California and has been part of the World Vision team since 1995.

Chris Glynn, Sr. Vice President, Corporate Development, Gifts-in-Kind, and U.S. Programs

Chris joined the World Vision team in 2010, bringing more than 20 years of leadership and management experience. Chris holds an MBA in Strategic Quality Management from Eastern Michigan University.

Kent Hill, Sr. Vice President, International Programs Group

Kent joined World Vision in February 2011 after more than three decades serving in U.S. Government, academic, and nonprofit leadership roles. As head of international programs for WVUS, Kent collaborates with the international partnership of World Vision to help facilitate the overseas allocation of resources from government grants, corporate donated goods, and individual donors.

World Vision's 2012 Board of Directors