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HELPING CHILDREN WORLDWIDE, INC. AUDITED FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2023

Helping Children Worldwide, Inc. Table of Contents Page Independent Auditor’s Report 1 - 2 Audited Financial Statements Statement of Financial Position 3 Statement of Activities and Changes in Net Assets 4 Statement of Functional Expenses 5 Statement of Cash Flows 6 Notes to Financial Statements 7 - 17

Advisory Assurance Tax Private Client Outsourcing - 1 -Independent Auditor’s Report To the Board of Directors of Helping Children Worldwide, Inc. Chantilly, Virginia Opinion We have audited the accompanying financial statements of Helping Children Worldwide, Inc. (a nonprofit organization), which comprise the Statement of Financial Position as of December 31, 2023, and the related Statements of Activities and Changes in Net Assets, Functional Expenses, and Cash Flows for the year then ended, and the related notes to the financial statements. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Helping Children Worldwide, Inc. as of December 31, 2023, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Helping Children Worldwide, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Helping Children Worldwide, Inc.’s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

- 2 -Independent Auditor’s Report (Continued) Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit.• Identify and assess the risks of material misstatement of the financial statements, whether due tofraud or error, and design and perform audit procedures responsive to those risks. Suchprocedures include examining, on a test basis, evidence regarding the amounts and disclosures inthe financial statements.• Obtain an understanding of internal control relevant to the audit in order to design auditprocedures that are appropriate in the circumstances, but not for the purpose of expressing anopinion on the effectiveness of Helping Children Worldwide, Inc.’s internal control.Accordingly, no such opinion is expressed.• Evaluate the appropriateness of accounting policies used and the reasonableness of significantaccounting estimates made by management, as well as evaluate the overall presentation of thefinancial statements.• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,that raise substantial doubt about Helping Children Worldwide, Inc.’s ability to continue as agoing concern for a reasonable period of time.We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit. Rockville, Maryland March 19, 2024

December 31,2023AssetsCurrent assetsCash and cash equivalents470,158$ Pledge receivable43,345 Prepaid expenses11,880 Total current assets 525,383 Other assetsDeposit2,323 Right-of-use asset - finance lease14,465 Right-of-use asset - operating lease22,491 Property and equipment, net3,642 Total other assets 42,921 Total assets 568,304$ Liabilities and Net AssetsCurrent liabilitiesLease liability - finance lease, current portion3,857$ Lease liability - operating lease, current19,640 Accounts payable and accrued expenses17,355 Deferred revenue9,982 Total current liabilities 50,834 Long-term liabilitiesLease liability - finance lease, net of current portion10,608 Lease liability - operating lease, net of current portion3,467 Total long-term liabilities14,075 Total liabilities 64,909 Net assetsWithout donor restrictions365,135 With donor restrictions138,260 Total net assets 503,395 Total liabilities and net assets 568,304$ Helping Children Worldwide, Inc.Statement of Financial PositionThe accompanying Notes to Financial Statements are an integral part of these financial statements.- 3 -

Without DonorWith DonorFor the Year Ended December 31, 2023Restrictions Restrictions TotalSupport and revenueContributions and foundation grants319,410$ 489,795$ 809,205$ Special events166,665 15,688 182,353 Less: cost of direct donor benefit(17,870) - (17,870) UMVIM volunteer funds75,195 - 75,195 Interest income15,528 - 15,528 Net assets released from restrictions622,916 (622,916) - Total support and revenue 1,181,844 (117,433) 1,064,411 ExpensesProgram services:Child Welfare / Child Reintegration Centre 371,680 - 371,680 Global Health / Mercy Hospital366,519 - 366,519 Empowerment programs304,255 - 304,255 Supporting services:Management and general144,243 - 144,243 Fundraising76,101 - 76,101 Total expenses 1,262,798 - 1,262,798 Change in net assets(80,954) (117,433) (198,387) Net assets, beginning of year 446,089 255,693 701,782 Net assets, end of year 365,135$ 138,260$ 503,395$ Helping Children Worldwide, Inc.Statement of Activities and Changes in Net AssetsThe accompanying Notes to Financial Statements are an integral part of these financial statements.- 4 -

Helping Children Worldwide, Inc.Statement of Functional ExpensesChild Welfare/ GlobalChildHealth/For the Year Ended Reintegration MercyEmpowerment ManagementDecember 31, 2023 Centre Hospital Programs and GeneralFundraisingTotalAdministrative4,345$ 4,605$ 11,726$ 23,480$ 5,111$ 49,267$ Contributions148,249 191,871 27,016 - - 367,136 Depreciation and amortization2,295 1,702 1,135 594 603 6,329 Equipment and computer software2,444 2,117 6,760 7,207 9,643 28,171 Insurance1,928 1,430 954 500 507 5,319 Legal and professional13,528 8,641 7,207 49,595 - 78,971 Licenses127 94 63 33 33 350 Lease expense7,082 5,254 3,503 1,835 1,862 19,536 Salaries and benefits188,874 140,117 93,428 48,940 49,655 521,014 Special events - other- - - - 3,253 3,253 Travel and meetings2,808 10,688 152,463 12,059 5,434 183,452 Total 371,680$ 366,519$ 304,255$ 144,243$ 76,101$ 1,262,798$ ProgramsThe accompanying Notes to Financial Statements are an integral part of these financial statements.- 5 -

Helping Children Worldwide, Inc.Statement of Cash FlowsFor the Year Ended December 31,2023Cash flows from operating activitiesChange in net assets(198,387)$ Adjustments to reconcile changes in net assets to netcash used in operating activitiesDepreciation and amortization6,329 (Increase) decrease in:Pledge receivable6,655 Prepaid expenses(5,264) Right-of-use asset - operating lease19,336 Increase (decrease) in:Lease liability - operating lease(19,251) Accounts payable and accrued expenses2,616 Deferred revenue(968) Net cash used in operating activities(188,934) Cash flows from investing activitiesPurchases of property and equipment(2,416) Cash flows from financing activitiesPayments on lease liability - finance lease(3,857) Net change in cash and cash equivalents(195,207) Cash and cash equivalents, beginning of year665,365 Cash and cash equivalents, end of year 470,158$ The accompanying Notes to Financial Statements are an integral part of these financial statements.- 6 -

Helping Children Worldwide, Inc. Notes to Financial Statements - 7 - 1. Organization and significant accounting policies Programmatic and organizational information: Helping Children Worldwide, Inc. (the “Organization” or “HCW”) was incorporated on April 4, 2003, under the laws of the Commonwealth of Virginia, as a non-stock not-for-profit organization. Helping Children Worldwide, Inc. is a faith-based organization whose mission is to help children by strengthening and empowering families and communities. The Organization has built partnerships with other faith-based and secular organizations. The bylaws of the Organization require that 30% of the Board of Directors be affiliated with partner churches and reserve a seat for one pastor from one of the partner churches. Helping Children Worldwide, Inc. ministers in Sierra Leone, West Africa through support of programs to protect children, strengthen and empower families and communities. The Organization is the primary financial supporter of the Child Reintegration Centre, Mercy Hospital and Missionary Training Centre in Sierra Leone as described below. In 2023, the work continued to expand worldwide, expanding to more than 26 countries, with increased global recognition and influence through collaborations and with travel to Mozambique to speak to all of the UMC Bishops in Africa about working to transition orphanages to family care models, increasing collaborations with other NGOs supporting orphans and vulnerable children in Sierra Leone, hosting an international conference in Washington, D.C., filming a documentary in Africa regarding strong family supports, and presenting at two international conferences on research, best practices, and our approach to managing global partnerships in health and child protection and orphan care. Child Welfare and Child Reintegration Centre – The Organization provides support in Sierra Leone for aid to young women, children and families suffering from extreme poverty and continued to provide primary financial support for the Child Reintegration Centre (“CRC”) in Sierra Leone. The collaboration between the Organization and CRC offers direct services to children and families in one of the most impoverished regions of the world, and provides training, coaching and mentoring services to child welfare agencies in Sierra Leone and West Africa to change their service model to family support work. In Sierra Leone, illiteracy hovers between 60% and 70%, 60% live below the global poverty line of $1.90 per day and poverty is the number one reason children are living on the street and do not go to school. Because of CRC programs, 1231 children under 18, 1457 young people in school, and 422 families were supported during 2023. CRC programming is family-centered, and community based, with a professional case management staff, and offers clients educational scholarships, access to medical care, and family strengthening services through counseling, parenting education, economic supports, community education and training.

Helping Children Worldwide, Inc. Notes to Financial Statements - 8 - During 2023 the CRC hosted multiple educational and training seminars for provider organizations in Africa on how to reintegrate children living without parental care or on the street into families and homes and traveled outside the borders of Sierra Leone in support of collaborations. The Organization’s professional staff traveled with CRC professional staff and provided remote support and curriculum for seminars. In addition to direct collaborative efforts in programs, the Organization supports training teams to assist CRC case managers’ efforts to provide quality care that meets global standards, despite extreme low resource environments. Global Health and Mercy Hospital – The shared mission of Mercy UMC Hospital (“Mercy”) and HCW is to improve infant and maternal mortality rates in Sierra Leone by providing holistic, community-focused care, regardless of ability to pay. Mercy is a 50-bed facility with a trained and dedicated medical staff including a full-time doctor, a medical laboratory, a research laboratory, a fully stocked pharmacy on-site, an HIV/Aids clinic, and a surgical wing with two operating theatres. In 2023, between malaria clinics (11,580), nutrition clinics (614), hospital admissions and hospital outpatient services (3623), aids clinics (599) and prenatal clinics (218) Mercy Hospital and Mercy Outreach were able to provide medical and diagnostic services to 16,634 patients in Bo and 45 villages. Mercy’s outreach into the surrounding villages includes nutrition clinics and treatment provided for malnourished infants, prenatal care and education, malaria testing and treatment, diarrhetic disease diagnosis and treatment, and HIV/AIDS testing and counseling, as well as support for basic health needs in clean water and sanitation. Together for Global Health, the Organization’s network of practitioners across the globe collaborated on the Rising Tides policy conference in Washington, D.C., met monthly to discuss issues in more than 23 countries, and provided informational podcasts regarding global health.

Helping Children Worldwide, Inc. Notes to Financial Statements - 9 - Empowerment programs – The Organization’s United Methodist Volunteers in Mission (UMVIM) teams are comprised of individuals who are trained and then travel to Sierra Leone to volunteer at CRC and Mercy Hospital. Over the years, teams have engaged in a wide variety of service projects to support the lives of children and their families, including medical and dental clinics, construction projects, teacher training collaborations, and capacity building work with local leadership. Three Village Partnerships were active during 2023, funding the construction of basic community infrastructure, providing medical and nutrition clinics for children and mothers, and supporting family strengthening services to villages through Mercy Hospital, mission team volunteers overseen by the medical staff and mission partnership liaison at the Missionary Training Centre and by Child Reintegration Centre case managers and social workers, and various contractors in Sierra Leone. The Organization’s professional staff provided direct support on the ground and via remote collaborations. The Organization continued to build the capacity of the CRC and Mercy staff in 2023, by bringing in experts from the United States of America and the United Kingdom in medicine, surgery, physical rehabilitation, and nursing care, organizational leadership, case management and social work. UMC Advance - The Organization regularly collaborates with the General Board of Global Ministries of the United Methodist Church Advance (“UMC Advance”) to fundraise for the CRC and Mercy programs. In 2023, $55,667 that was donated through the UMC Advance to support the CRC and Mercy directly, offset the Organization's total expenses for the year. Basis of accounting: The accompanying financial statements of the Organization are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Basis of presentation: Net assets and revenues are classified based on the existence or absence of donor-imposed restrictions and reported as follows: Net assets without donor restrictions - net assets that are not subject to donor-imposed stipulations. Net assets with donor restrictions – net assets subject to stipulations imposed by donors and grantors. Some donor restrictions are temporary in nature; those restrictions will be met by actions of the Organization or by the passage of time. Other donor restrictions are perpetual in nature, whereby the donor has stipulated the funds be maintained in perpetuity. There were no donor restrictions that are perpetual in nature as of December 31, 2023.

Helping Children Worldwide, Inc. Notes to Financial Statements - 10 - Cash and cash equivalents: The Organization classifies all highly liquid investments, with original maturities of three months or less as cash equivalents. Cash and cash equivalents consist of demand deposit accounts, money market accounts, and certificates of deposit with original maturities of three months or less. The Organization maintains cash balances at two commercial banks, these balances can exceed the FDIC insured deposit limit of $250,000 per financial institution. At December 31, 2023, the Organization’s cash balances held at the commercial banks exceeded the FDIC limit by approximately $35,000. Management does not believe that this results in any significant credit risk. The Organization has not experienced any losses through the date when the financial statements were available to be issued. Pledge receivable: Pledge receivable consists of an unconditional promise to give that is expected to be collected in future years. An allowance for doubtful accounts is allocated on an account by account basis, if necessary. Contributions expected to be collected in future years are recorded at the present value of their estimated future cash flows. There is no discount on the pledge receivable. The amount is considered collectible at December 31, 2023. The full balance of the pledge receivable is expected to be collected within a year. Property and equipment: The Organization capitalizes all expenditures for property and equipment in excess of $1,000. Property and equipment are recorded at cost and depreciated on a straight-line basis over the estimated useful lives of the assets, which is generally three to five years. Leasehold improvements are amortized using a straight-line basis over the shorter of their estimated useful life or the remaining lease term.

Helping Children Worldwide, Inc. Notes to Financial Statements - 11 - Leases: For operating leases with initial lease terms greater than 12 months, operating lease right-of-use (ROU) assets and lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. ROU assets also include adjustments related to lease payments made and lease incentives received at or before the commencement date. The ROU assets resulting from operating leases are disclosed as a right-of-use asset – operating lease and the related liabilities are included in the lease liability – operating lease in the Statement of Financial Position. The ROU assets resulting from finance leases are disclosed as a right-of-use asset - finance lease and the related liabilities are included in the lease liability - finance lease in the Statement of Financial Position. At lease commencement, lease liabilities are recognized based on the present value of the remaining lease payments and discounted using the risk-free rate. Operating lease cost is recognized on a straight-line basis over the lease term as lease expense in the accompanying Statement of Functional Expenses. Lease and non-lease components of office space lease agreements are accounted as a single component. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Organization will exercise that option. The Organization determines if an arrangement is a lease at inception. All leases are recorded on the Statement of Financial Position except for leases with an initial term less than 12 months for which the Organization made the short-term lease election. The Organization had no short-term leases as of December 31, 2023. Deferred revenue: Deferred revenue is made up of volunteer mission trip funds received for trips in future periods. Revenue recognition: The Organization recognizes revenue in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers “ASC 606”. The standard outlines a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. The five-step model is outlined below: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

Helping Children Worldwide, Inc. Notes to Financial Statements - 12 - Accordingly, the following revenue stream is within the scope of ASC 606: UMVIM volunteer funds - UMVIM volunteer funds are received for short-term mission trips to aid the African Programs. The performance obligation is satisfied and the revenue is recognized when the trip takes place. The transaction price is the minimum amount that must be raised by volunteers to go on the trip. Funds received for trips taking place in a future period are recorded as deferred revenue and reported as a liability on the Statement of Financial Position. The following revenue streams are outside the scope of ASC 606: Contributions and foundation grants - The Organization recognizes all contributions as revenue in the period received or unconditionally promised. The Organization reports such gifts as with donor restricted support and revenues if they are subject to time or donor-imposed restrictions. Net assets with donor restrictions are reclassified to net assets without donor restrictions and reported in the Statement of Activities and Changes in Net Assets as net assets released from restrictions when a stipulated time restriction ends, purpose restriction is accomplished, or both. Special events - The Organization holds fundraising galas or events. In exchange for a specified fee, event attendees receive meals along with other miscellaneous benefits (“direct donor benefits”). Proceeds from the events are recognized net of the cost of any direct donor benefits, as required by ASC 958 – Not-for-profit Entities. The excess of special event proceeds over the cost of direct donor benefits is recognized as a contribution. The portion of special event proceeds associated with the cost of direct donor benefits is recognized as an exchange transaction and accounted for under ASC 606. The nature of direct donor benefits is subject to change at the discretion of the Organization and is generally not identifiable to event attendees before the event. As a result, the Organization has concluded receipt of direct donor benefits does not meet the definition of a contract in ASC 606 until certain criteria are met. Accordingly, revenue is recognized under such arrangements when payment is received, the event takes place, and the Organization is no longer obligated to provide any additional goods or services to attendees (generally, after the event takes place). Contract liabilities: Contract liabilities include amounts paid by customers for which services have not yet been provided and are included in deferred revenue. Contract costs: Contract fulfillment costs generally include direct costs such as event venue and food related to galas and events, and mission costs related to UMVIM trips. Costs are expensed when incurred.

Helping Children Worldwide, Inc. Notes to Financial Statements - 13 - Functional allocation of expenses: The cost of providing the various programs and supporting services has been summarized on a functional basis in the Statement of Functional Expenses. Accordingly, certain costs have been allocated among the programs and supporting services benefited. The expenses that are allocated include administrative, depreciation and amortization, equipment and computer software, insurance, licenses, lease expense, salaries and benefits, travel and meetings which are allocated on the basis of estimates of time and effort. Income taxes: The Organization is a Section 501(c)(3) not-for-profit corporation exempt from federal income taxes as provided under section 501(a) of the Internal Revenue Code and applicable regulations of the Commonwealth of Virginia. The Organization has no unrelated business income. Uncertainty in income taxes: The Organization evaluates uncertainty in income tax positions based on a more-likely-than-not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of December 31, 2023, there are no accruals for uncertain tax positions. If applicable, the Organization records interest and penalties as a component of income tax expense. Tax years from 2020 through the current year remain open for examination by tax authorities. Use of accounting estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recently Adopted Accounting Guidance: In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), or (“CECL"), which prescribes an impairment model for most financial instruments based on expected losses rather than incurred losses. Under this model, an estimate of expected credit losses over the contractual life of the instrument is to be recorded as of the end of a reporting period as an allowance to offset the amortized cost basis, resulting in a net presentation of the amount expected to be collected on the financial instrument. For most instruments, entities must apply the standard using a cumulative-effect adjustment to beginning net assets as of the beginning of the fiscal year of adoption. The adoption of CECL did not have a material impact. A cumulative effect adjustment to beginning net assets was not required. Financial assets and liabilities held by the Organization subject to the “expected credit loss” model prescribed by CECL include contract assets.

Helping Children Worldwide, Inc. Notes to Financial Statements - 14 - Subsequent events: Management has evaluated subsequent events for disclosure in these financial statements through March 19, 2024, which was the date the financial statements were available to be issued. 2. Liquidity and the availability The following represents the Organization’s financial assets at December 31, 2023: of resources Financial assets at year end: Cash and cash equivalents $ 470,158 Pledge receivable 43,345 Total resources available: 513,503 Less amounts not available to be used within one year: Donor restrictions: Temporary purpose restrictions (138,260) Financial assets available to meet general expenditures over the next twelve months $ 375,243 The Organization’s goal is to maintain financial assets to meet at least 90 days of general expenditures. Additionally, it strives to maintain financial assets to also meet at least 90 days of programmatic expenditures. The Organization has a policy to structure its financial assets to be available as general and programmatic expenditures are incurred. 3. Property and equipment Property and equipment consists of the following at December 31, 2023: Equipment and furniture $ 16,424 Less: Accumulated depreciation and amortization (12,782) Property and equipment, net $ 3,642 Depreciation and amortization expense for the year ended December 31, 2023 was $6,329.

Helping Children Worldwide, Inc. Notes to Financial Statements - 15 - 4. Net assets with donor restrictions Net assets with donor restrictions are available for the following purposes at December 31, 2023: Temporary purpose restrictions Empowerment programs $ 129,964 Child Welfare / Child Reintegration Centre 8,296 Total $ 138,260 Net assets with donor restrictions were released from restrictions during the year ended December 31, 2023 as follows: Child Welfare / Child Reintegration Centre $ 224,961 Global Health / Mercy Hospital 147,445 Empowerment programs 250,510 Total $ 622,916 5. Operating lease Upon adoption of the new lease standard ASC 842, the Organization evaluated current contracts to determine which met the criteria of a lease. The ROU assets represent the Organization’s right to use underlying assets for the lease term, and the lease liabilities represent the Organization’s obligation to make lease payments arising from these leases. The ROU asset and lease liability under the operating lease agreements were calculated based on the present value of future lease payments over the lease terms. The Organization has made an accounting policy election to use a risk-free rate in lieu of its incremental borrowing rate to discount future lease payments. The weighted-average discount rate applied to calculate lease liabilities as of December 31, 2023, was 1.04%. As of December 31, 2023, the weighted-average remaining lease term for the Organization’s operating lease was approximately 1.2 years. The Organization is obligated under an operating lease for space in Chantilly, Virginia. On January 27, 2022, the Organization signed a one-year lease agreement effective March 1, 2022 through February 28, 2023. On January 30, 2023, the Organized signed a two-year lease agreement to renew the lease until February 28, 2025.

Helping Children Worldwide, Inc. Notes to Financial Statements - 16 - The future maturities of the lease liability under these operating lease agreements at December 31, 2023 are as follows: Year Ending December 31, Amount 2024 $ 20,051 2025 3,358 Total 23,409 Less: imputed interest (302) Lease liability – operating lease $ 23,107 Total operating lease cost was $19,536 for the year ended December 31, 2023. Total cash flows from operating leases were $19,451 for the year ended December 31, 2023. 6. Finance lease In 2022, the Organization entered into an agreement to lease a copier under a lease which qualifies as finance lease. In connection with this finance lease, the Organization recorded a ROU asset and a corresponding lease liability in the amount of $19,286, using the risk free rate as interest rate. The ROU asset and lease liability under this finance lease agreement are being amortized over the life of the lease agreement. As of December 31, 2023, the unamortized ROU asset was $14,465. The future maturities of the lease liability under the finance lease agreement at December 31, 2023 are as follows: Year ending December 31, 2024 $ 4,176 2025 4,176 2026 4,176 2027 3,133 Total minimum payments 15,661 Less: interest (1,196) Total principal due 14,465 Less: current portion (3,857) Non-current portion $ 10,608 Total interest expense incurred on the finance lease for the year ended December 31, 2023 was $319. Total amortization expense for the year ended December 31, 2023 was $3,857, and was included in the balance of depreciation and amortization expense on the Statement of Functional Expenses.

Helping Children Worldwide, Inc. Notes to Financial Statements - 17 - 7. Concentration In 2023, the Organization received 16% of its total revenue from one entity. 8. Retirement plan The Organization participates in a defined contribution retirement plan sponsored by Floris UMC. Total employer contributions from the Organization to the plan for the year ended December 31, 2023 were $6,591.