Net4kids Aid Foundation

All donations made for aid projects and spending on aid projects go through the Net4kids Aid Foundation. One 100% of the donations go to the aid projects, which are executed by carefully selected project partners. The Net4kids Aid Foundation does not have any operational costs. This ensures transparency and the 1:1 relation between money donated and money going to projects. It offers donors and sponsors optimal insight into what happens with the money.

Balance as per 31 december 2006
(€)
Assets
31dec06
31dec05
Current assets
Accounts receivable
debtors 10.880 1.700
to be received donations 0 21.330
Net4kids Organisation 14.067 15.621
Total Accounts receivable 24.947 38.651
 
Liquid assets
current bank account 225.332 36.986
cash 0
322
Total liquid assets 225.332 37.308
Total assets 250.279 75.959
     
Liabilities
31dec06
31dec05
Short-term debts
advanced project costs -77.539 -91.125
Net4kids Continuity Fund 94.852 94.852
to be spent on projects 127.526 69.052
donations received in advance 105.440 3.180
     
Total short term debts 250.279 75.959
Total Liabilities 250.279 75.959

Commentary on the balance

Liabilities: short-term debts
The item advanced project costs relates to amounts already paid to projects before donors are found or donations are received. The payments are funded via advances from the Net4kids Continuity Fund. If and when it becomes likely that insufficient donations will be collected for these projects, the Net4kids Continuity Fund donates the balance for that specific project to the Net4kids Aid Foundation.

The advanced project costs dropped for 2006. Additionally, the balance during the first weeks past the balance date has dropped by about half thanks to donor pledges.

The item to be spent on projects relates to received donations that have not yet been paid out to our project partners. This increase is consistent with the increase in total donations.

Donations received in advance are donations for support over the course of several years. The increase is primarily driven by a single donor who is offering 5 years of support via a single large donation.

Commitments not included in the balance

On the balance date, project commitments amounted to € 242,141.

These commitments are balanced by donation commitments to the amount of € 176,158.

Statement of income and expenditure (€)
2006
2005
Income
Fundraising
received donations 510.275 300.083
capital transfer tax 0 2.081
Income from fundraising 510.275 298.002
special receipts 0 2.081
Available for goal 510.275 300.083
Project spending 510.275 300.083
Balance of statement of income and expenditure 0 0

Commentary on statement of income and expenditure

Current donations for 2006 grew by over 70% compared to 2005, thereby just exceeding the budget for 2006 (€ 500,000). This result reflects the unimpeded growth Net4kids is displaying. The strong growth over the past years is primarily fuelled by increases in business donations. In 2006, this represented an increase of over 100%.

All activities required for fundraising, backoffice and infrastructural support of the Net4kids Aid Foundation are covered financially by the Net4kids Organisation.