Avon Foundation for Women 2010 Audited Results –

Topline Financial Summary

The Avon Foundation for Women, a 501(c)(3) public charity, is proud to share an overview of its 2010 year-end audited financial results. The full audited report, the Avon Foundation’s IRS form 990, and a list of all new grants awarded in 2010 are posted on the Avon Foundation website under “Financial Reports.”

In 2010, the Avon Foundation generated public support and revenues of $80.18 million.

Highlights of the full financial report include:

·  Total Avon Products, Inc., contributions to support the Avon Foundation reached almost $26 million for the year, including the sale of fund-raising products by independent Avon Sales Representatives and a special contribution for Haiti earthquake relief. This total contribution does not include the donation of invaluable services and resources from all sectors of Avon Products, including, marketing, advertising, finance, legal, communications, public relations, manufacturing, field sales, distribution and creative services.

·  In 2010, the Avon Foundation approved new or renewed grant commitments of $43.6 million. In addition, the Foundation made payments on numerous grant commitments from prior years. Due to continued global economic uncertainty, the Foundation remained conservative in making new grant commitments in order to help ensure its ability to continue to support critical programs and current highly deserving beneficiaries in the future.

·  The Avon Foundation raised $58.3 million in cash and in-kind donations from all special events, including: $4.7 million in event contributions from Avon Products, Inc.; donations solicited by tens of thousands of dedicated participants in the nine-event Avon Walks for Breast Cancer series; donations collected through Walk the Course against Domestic Violence; gifts from generous donors to the Avon Foundation Gala; and other gifts throughout the year.

·  Total expenditures for programs and grants represented 75.5% of all Foundation expenses, while fund raising expenses were 21.5% and management and general expenses were 3%. These expense metrics are superior to the recommended guidelines of major philanthropic review organizations.

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