Financial Transparency of the WFA: 2024 Financial analysis
Often, when discussing activism, we focus primarily on its substantive components, overlooking the significant resources required for mobilization and technical work. These aspects demand considerable time and effort. In the traditional approach taken by foundations and donors, funding is often allocated to specific actions, sometimes neglecting crucial elements like developing the resilience of organizations or addressing individuals’ well-being.
As a result of this narrow focus, financial and technical support for organizations, initiatives, and individual activists often gets overlooked. In other words, human-centered approaches are sidelined in favor of actions that cannot be executed without the human factor.
The Women’s Fund Armenia, committed to the principles of feminist philanthropy from its inception, has consistently kept these issues at the forefront. Over the years, the Fund has developed and continuously updates various mechanisms to effectively address these challenges.
In 2024, 96 projects were implemented with funding from the Women’s Fund, aimed at advancing the feminist movement in Armenia and empowering women and girls across the country—from small villages to large cities.
In line with our commitment to transparency and accountability, we have reviewed all the programs funded by the Fund in 2024 and assessed how effectively we addressed the objectives and challenges set before us.
Financial Analysis of 2024 Sub-Grant Programs: A Thematic Approach
This analysis was conducted based on the final financial reports of the programs. We classified the financial expenditures into five categories based on the thematic focus of the programs:
- Salaries
- Office expenses
- Event expenses
- Self-financing expenses
- Humanitarian assistance expenses
The total cost for the 96 programs implemented in 2024 amounted to 118,614,045 AMD. Of the total program expenditures, 58.2% went toward salaries and honoraria, 19.21% to event expenses, 11.62% to humanitarian assistance, 9.21% to office expenses, and 2.49% to well-being-related expenses.
Even at a glance, it is clear that the largest portion of the funding is allocated to salaries, fees, and service provision. Initially, this might seem unsettling when considering program effectiveness and the results achieved. However, from a human-centered perspective, this allocation makes sense. Since the work is carried out by people, it is just logical that they should be compensated for their efforts.
Many of our partner organizations have mentioned in discussions that the WFA’s flexibility in funding salaries helps maintain their organizational stability and provides employment opportunities. This need is especially pronounced in regional communities, where jobs are scarce and specialists are in high demand.
Event expenses come in second place, covering costs for various events and meetings held as part of the programs. This includes travel expenses for participants, coffee breaks, venue rentals, event travel to locations, and the printing of informational materials.
Humanitarian assistance programs take third place in terms of cost distribution. These programs primarily address the needs of forcibly displaced people from Artsakh.
Office expenses rank fourth, including costs for organizational needs during program implementation, such as stationery, equipment, office supplies, and staff travel.
The final and, perhaps, the most crucial category for us is the well-being, self-care component. This is an area where the culture has yet to take root in Armenia, and the WFA is a pioneer in integrating it into grant programs.
Starting in 2023, the Fund introduced the self-care component in sub-grant programs. According to this initiative, 10% of the entire program budget must be allocated for the well-being and self-care of those involved in implementing the programs. The definition of self-care is broad and flexible, with the Fund allowing each individual to decide what it means for them based on their needs. For example, programs funded in the past two years have used these funds for health insurance, gym memberships, or even driving lessons.
Building a culture of self-care and well-being remains a central focus for the Women’s Fund Armenia. Over the past two years, the inclusion of this component has been flexible, leaving its implementation up to the discretion of program implementers. While there has been limited progress in this area in 2024 compared to 2023, we are optimistic that this aspect will grow in significance in 2025. Additionally, feedback from our partners has led us to recognize that, in some cases, the salary component of programs also serves as a means of well-being and is perceived as a form of self-care.
In conclusion, the analysis of the WFA’s funding allocations in 2024 underscores the critical importance of taking a holistic, human-centered approach to activism and philanthropy. While traditional funding models often prioritize immediate actions and outputs, it is clear that supporting the people behind these actions—through fair compensation, organizational stability, and a focus on well-being—plays a crucial role in the long-term success and sustainability of social change efforts.
The Fund’s commitment to feminist philanthropy and its integration of self-care components reflect a progressive shift toward recognizing the humanity of those driving change. As we continue to evolve and refine our funding practices, we remain focused on fostering a culture of care, accountability, and empowerment, with the hope that these efforts will inspire broader change both within Armenia and beyond. We look forward to further expanding these initiatives in 2025, with the belief that supporting the well-being of individuals and organizations is just as vital as supporting the causes they champion.
Yelena Sargsyan
