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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 2002
Overview of revenue and expenses
(in euro) |
2002 |
2001 |
Revenue |
|
|
| sponsor contributions |
12,012 |
11,655 |
|
one-time donations |
17,237 |
14,776 |
|
interest |
9 |
10 |
|
total |
29,258 |
26,441 |
|
Expenses |
|
|
|
contributions towards the project in Uganda |
28,998 |
26,265 |
|
costs |
|
|
|
foundation costs |
33 |
33 |
|
Bank costs |
227 |
143 |
|
total costs |
260 |
176 |
|
total |
29,258 |
26,441 |
|
Result |
nil |
nil |
Explanation
The revenue and expenses show that the total revenue has grown 11% in 2002, compared to 2001. Especially the one-time donations have grown.
Most sponsors and donors from Germany started paying through MISEREOR in 2002. This gives them a tax advantage. In 2002 about 10,140 euro has been received by MISEREOR. This money goes directly to the project and can therefore not be found in the ICCF Holland figures. When adding MISEREOR to the total amount that sponsors and donors have contributed towards the project, the increase is almost 50%.
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 even bigger.
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Revenue in percentages |
2002 |
2001 |
|
sponsor contributions |
41 % |
44 % |
|
one-time donations |
59 % |
56 % |
| |
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 2002 was 0.9% 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) |
2002 |
2001 |
|
2002 |
2001 |
| To be received from sponsors |
nil |
52 |
Equity |
nil |
nil |
|
Fund balances |
1,078 |
1,235 |
To be send to the project in Uganda |
1,078 |
1,287 |
|
total assets |
1,078 |
1,287 |
total liabilities |
1,078 |
1,287 |
Explanation
As can be seen from the balance, the foundation does not have any equity. All revenue is send to the project in Uganda, after reduction by expenses.
The fund balances (only a bank balance) are completely destined to be send to Uganda. Larger amounts are transferred 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 2003
In January 2003 61 children are being sponsored. The monthly income is about 900 euro. Additionally there are quite a few sponsors that pay yearly. We hope to further increase the number of sponsors in 2003.
The income from the one-time donations is, considering the incidental nature, hard to predict. The past few years the amount has been rising, but does not necessarily mean this will continue in 2003.
Venlo, 27 January, 2003,
Bram Moolenaar, treasurer.
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