NDFD reports over $1 million assets in 2015

NDFD building in Roseau
NDFD building in Roseau

The National Development Foundation of Dominica (NDFD) is reporting an increase in assets of more than $1 million for December 31st 2015.

Chairman of the Board of NDFD, Oliver Henderson made the announcement at the 34th Annual General Meeting (AGM) on Thursday night.

“Our overall performance for December 31st 2015 our balance sheet showed an increase in assets of more than $1 million,” he revealed. “This was mainly due to growth in the loan portfolio.”

According to him, liabilities show an increase of $690,000 and revenue for the period also showed a slight increase over the previous year.

“This resulted in an operating surplus of $765,000,” Henderson stated. “From this performance, we made provision for loan loss of $371,000 and we also wrote off some bad debts of $10,835.”

He went on to say that the financial performance and position is important to note and has put the company in a position to continue delivering services to the sector.

“These figures are signs that all the financial indicators point to the desired directions,” he noted. “This movement in assets, as well as the cash position, is encouraging and despite these positive impacts on its performance and position we are able to finance our services…”

Copyright 2012 Dominica News Online, DURAVISION INC. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.

Disclaimer: The comments posted do not necessarily reflect the views of DominicaNewsOnline.com and its parent company or any individual staff member. All comments are posted subject to approval by DominicaNewsOnline.com. We never censor based on political or ideological points of view, but we do try to maintain a sensible balance between free speech and responsible moderating.

We will delete comments that:

  • contain any material which violates or infringes the rights of any person, are defamatory or harassing or are purely ad hominem attacks
  • a reasonable person would consider abusive or profane
  • contain material which violates or encourages others to violate any applicable law
  • promote prejudice or prejudicial hatred of any kind
  • refer to people arrested or charged with a crime as though they had been found guilty
  • contain links to "chain letters", pornographic or obscene movies or graphic images
  • are off-topic and/or excessively long

See our full comment/user policy/agreement.

3 Comments

  1. Jon Jones
    September 27, 2016

    Is there an asset register available online so the public can see what exactly these assets are?

  2. Thumbs up
    September 26, 2016

    Kudos to the founders for their vision in starting this organization and for the hard work and contributions of board members, executive directors and staff over the years. Best wishes for continued success.

  3. Nice
    September 25, 2016

    What an NGO! Still going from strength to strength more than 34 years after commencement.

Post a Comment

Your email address will not be published. Required fields are marked *

:) :-D :wink: :( 8-O :lol: :-| :cry: 8) :-? :-P :-x :?: :oops: :twisted: :mrgreen: more »

 characters available