General commentary

Capital
The foundations’ capital consists of subsidies, donations and gifts obtained via inheritance, as well as other means.

Fiscal position
All three foundations are exempt from sales tax and the corporate tax.

Valuation grounds and grounds for result determination

General
Insofar as not stated otherwise, the assets and liabilities are listed against their nominal values. In coming to valuation of the assets and liabilities, the assumption was made that the entirety of the works of the corporation that the assets and liabilities are in service to, will continue.

Foreign currencies
Amounts in foreign currencies were converted into Euros using the exchange rates valid on the balance date. Exchange rate fluctuations are processed in the profit and loss account.
Assets and liabilities in foreign currencies are converted at the average exchange rate for the period in question. Any rate differences are accounted for as either profit or loss.

Tangible fixed assets
The tangible fixed assets are valued against acquisition cost minus the write-offs. Write-offs are calculated based on expected economic lifespan, taking into account any expected residual value. Write-offs are based on the following percentages:
Office interiors 20%
PC system 33 1/3%
Website 33 1/3%

Accounts receivable
Accounts receivable are valued based on nominal value, if necessary reduced by an amount as provision for funds which cannot be collected.

Stocks
Stocks are valued against stock market value on balance date.

Result determination
Profits are only listed insofar as they have been realized on the balance date. Losses and risks that fall before the end of the booking year are taken into consideration if they were known before drawing up the annual account.

Received donations are credited to the booking year they correspond with.
Donation commitments are reported as soon as a written agreement has been obtained. If the support commitment is for several years, donations and commitments are reported for the relevant year.

Project costs are reported when aid funds are actually paid out. If there are (long-term) commitments to projects, these are listed as ‘Commitments not included in the balance’. Any donation commitments obtained covering these financial commitments are also listed.

Period determination
All income is assigned to the period in which it was realized, all expenses to the period that they are linked to.

Income
All income is the result of fundraising. No subsidies were received.