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ICCF logo Stichting ICCF Holland
Clematisstraat 30
5925 BE Venlo
The Netherlands

tel. 077 - 3872340
giro 4548774
KvK Venlo S 64588
www.vim.org/iccf

Financial report 1999

Overview of assets and liabilities
(in Dutch guilders)

1999

1998

Assets

   
sponsor contributions

15,558

13,145

one-time donations

17,759

8,908

sale of Vim

0

0

interest

          9

          7

total

33,326

22,060

Liabilities    
contributions towards the project in Uganda

33,054

21,646

expenses    
     foundation expenses

   64

   78

     bank expenses

 208

 248

     administration expenses

     0

   88

     interest

     0

     0

total expenses

      272

      414

total

33,326

22,060

Balance

nil

nil

Explanation

The assets and liabilities show that the total assets have grown 51% in 1999, compared to 1998. Both the contributions from sponsors as well as the one-time donations have grown considerably compared to 1998. There has been no sale of Vim in 1999. Donations have been received for the use of Vim, but this is not mentioned separately, because it is not always clear if a donation was because of using Vim. In the next table can be seen that, despite the growth of the assets, the share from the sponsors has become smaller. There have been two remarkable large one-time donations, which causes this ratio to be different in 1999.

Assets in percentages

1999

1998

sponsor contributions

47 %

60 %

one-time donations

53 %

40 %

sale of Vim

0 %

0 %

 

100 %

100 %

We aim at very low costs. The goal is to limit the costs to 5% of the assets.
The assets and liabilities show that the cost in 1999 was 0.8% of the total assets. Thus the goal has been met by a large margin. The largest part of the costs are the for the bank. They are mostly for transferring the money to Uganda and to cash foreign donations.

Balance at December 31
(in Dutch guilders)

1999

1998

 

1999

1998

      Fixed assets

nil

nil

Fund balances

3,112

5,534

To be send to the project in Uganda

3,112

5,534

total

3,112

5,534

 

3,112

5,534

Explanation

As can be seen from the balance, the foundation does not have fixed assets. All assests are send to the project in Uganda, after reduction by expenses.

The balance (only at a bank) are lower by the end of 1999 than they were in 1998, but still quite high. The reason is that quite a few of the donations are received in December. Early 2000 most of the balance will be send to Uganda. To reduce banking costs larger amounts are transferred at a time.

Expectations for 2000

January 2000 there are 36 sponsors. The monthly income is fl 1317. We hope to further increase the number of sponsors in 2000. Therefore we expect that the total income from sponsors will be higher in 2000.
The income from one-time donations and sale of Vim are, considering their incidental nature, hard to predict. Considering that two large donations have been received in 1999, it is very well possible that the income from one-time donations will decline in 2000.

 

Venlo, February 16, 2000,

Bram Moolenaar, treasurer.

For comments on the ICCF Holland pages and for more information contact Bram Moolenaar (Bram AT iccf-holland DOT org).
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These pages are available at:   iccf-holland.org     www.iccf.nl