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Stichting ICCF Holland
Clematisstraat 30
5925 BE Venlo
The Netherlands
tel. +31 77 3872340
giro 4548774
KvK Venlo 41064588
https://iccf-holland.org
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Financial report 2001
Overview of revenue and expenses
(in euro) |
2001 |
2000 |
Revenue |
|
|
| sponsor contributions |
11,655 |
8,907 |
|
one-time donations |
14,776 |
8,418 |
|
interest |
10 |
8 |
|
total |
26,441 |
17,333 |
|
Expenses |
|
|
|
contributions towards the project in Uganda |
26,265 |
17,218 |
|
costs |
|
|
|
foundation costs |
33 |
19 |
|
Bank costs |
143 |
87 |
|
administration costs |
0 |
9 |
|
total costs |
176 |
115 |
|
total |
26,441 |
17,333 |
|
Result |
nil |
nil |
Explanation
The revenue and expenses show that the total revenue has grown 53% in 2001, compared to 2000. Both the contributions from sponsors as well as the one-time donations have grown. There has been no sale of Vim in 2001. Most of the 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 made because of using Vim.
In the next table can be seen that the share from the sponsors has become smaller, which makes the dependency on one-time donations a bit bigger.
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Revenue in percentages |
2001 |
2000 |
|
sponsor contributions |
44 % |
51 % |
|
one-time donations |
56 % |
49 % |
| |
100 % |
100 % |
We aim at very low costs. The goal is to limit the costs to 5% of the
revenue.
The revenue and expenses show that the cost in 2001 was 0.7% of the total
revenue. Thus the goal has been met by a large margin. The largest parts of
the costs are the banking costs. They are mostly for transferring the money to
Uganda and to cash foreign donations.
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Balance at December 31
(in euro) |
2001 |
2000 |
|
2001 |
2000 |
| To be received from sponsors |
52 |
631 |
Equity |
nil |
nil |
|
Fund balances |
1,235 |
1,008 |
To be send to the project in Uganda |
1,287 |
1,639 |
|
total assets |
1,287 |
1,639 |
total liabilities |
1,287 |
1,639 |
Explanation
As can be seen from the balance, the foundation does not have any equity.
All revenue is sent to the project in Uganda, after reduction by expenses.
The fund balances are lower by the end of 2001 than they were in
2000, but are still quite high. The reason is that larger amounts are
transferred to Uganda at a time, to reduce banking costs.
The monthly payment from some sponsors for December 2001 was only received in January 2002. These assets are considered to be part of the year 2001 and are therefore noted here as "to be received" in the balance.
Expectations for 2002
In January 2002 54 children are being sponsored. The monthly income is about 800 euro. We hope to further increase the number of sponsors in 2002. The monthly amounts have been raised by about 20% in January 2002. Therefore we expect that the total income from sponsors will be higher in 2002.
The income from the one-time donations and sale of Vim are, considering their incidental nature, hard to predict. Considering that a few large one-time donations have been received in 2001 and sponsors in Germany now have another way for making donations that allows for a tax reduction, it is very well possible that the income from one-time donations will decline in 2002.
Venlo, 14 January, 2002,
Bram Moolenaar, treasurer.
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