The Cook Islands Breast Cancer Foundation (CIBCF) has reported a significant increase in its funds, marking a 48.5 per cent rise compared to the previous year.

The finances were discussed during the Foundation’s Annual General Meeting held late last month at the Tamarind House, where the majority of the board members were re-elected.

According to the 2024 Treasurer’s report presented by Kelly Bullivant, the CIBCF’s assets increased from $139,459 in 2023 to $171,649 at the end of 2024, reflecting an increase of $32,190 in net profit.

This growth was attributed to successful fundraising activities, including the CIBCF Ribbons of Hope Ball and October donation efforts last year, which raised approximately $85,769.

The Foundation’s income sources included membership fees, fundraising, donations and bank interest, which together resulted in a $67,630 increase from the previous year.

While operating costs saw a rise of $48,833 compared to 2023, CIBCF managed to cut some expenses due to the screening programme for 2024 being put on hold, which meant no referrals from the Pa Enua.

The CIBCF operates four accounts: one operating account and three long-term deposit accounts.

The operating account at BSP saw a substantial increase from $26,356.15 at the beginning of the year to $54,310.74 at year’s end.

Similarly, the BSP Term deposit 1 grew from $28,411.31 to $29,304.81, and the BSP Term deposit 2 increased from $70,060.23 to $72,448.83.

The ANZ term deposit remained unchanged at $14,630.99.

In an auditor’s report attached to the treasurer’s summary, CMS Accounting & Business confirmed that the CIBCF’s financial records were properly maintained and complied with accepted accounting practices.

The report emphasised that the financial statements gave a true and fair view of the Foundation’s performance as of December 31, 2024.

The Foundation expressed gratitude towards the Cook Islands community, including businesses, government, NGOs and individuals, for their unwavering support throughout the year, which significantly contributed to the Foundation’s financial stability and growth.

As discussed during the AGM, the funds raised will continue to support ongoing initiatives and future projects aimed at helping those affected by breast cancer.