Net4kids Continuity Fund
The Net4kids Continuity Fund guarantees the continuity of Net4kids. To this end, the foundation manages the capital. Any operational cost deficits in the Net4kids Organisation are covered by the Continuity Fund using earnings on capital, or, if this is insufficient, using the capital itself. Additionally, the Continuity Fund ensures project continuity by committing to cover project costs in the event no external donors can be found.
| Balance as per 31 december 2006 (€) |
|
|
|
|
| Assets |
31 dec 06 |
31 dec 05 |
| Current assets |
|
|
| Accounts receivable |
|
|
| to be received interest |
0 |
1.025 |
| to be received coupon interest |
3.769 |
766 |
| Net4kids Aid Foundation |
94.852 |
94.852 |
|
|
|
| Net4kids Organisation |
20.313 |
-23.480 |
| Total accounts receivable |
118.934 |
73.163 |
|
|
|
| Stocks |
1.117.494 |
1.210.281 |
|
|
|
| Liquid assets |
|
|
| deposits |
111 |
30.517 |
| bank |
13.636 |
32.160 |
|
|
|
| Total liquid assets |
13.747 |
62.677 |
|
|
|
| Total assets |
1.250.175 |
1.346.121 |
|
|
|
| |
|
|
| Liabilities |
31 dec 06 |
31 dec 05 |
| Own capital |
|
|
| Exploitation balance through 2005 (2004) |
1.346.101 |
1.458.465 |
| Exploitation balance through 2006 (2005) |
-95.953 |
-112.364 |
|
|
|
| Total own capital |
1.250.148 |
1.346.101 |
|
|
|
| Short-term debts |
|
|
| to be paid bank interests and costs |
27 |
20 |
|
|
|
| total short-term debts |
27 |
20 |
|
|
|
| Total liabilities |
1.250.175 |
1.346.121 |
Commentary on the balance
Function and size of own capital
The own capital exists to cover commitments in projects that are not entirely covered by donations. Furthermore, the fund covers potential shortfalls within the Net4kds Organisation where not covered completely by organisation sponsors. No specifically earmarked reserves are held.
Currently there are no problems regarding continuity, based on the current capital balance (€ 1,250,148), the average returns in relation to project and donor commitment, and the level of annual out-of-pocket expenses in 2006 (€ 123,862). You may wish to view Financial Policy and Risks.
| Statement of income and expenditure (€) |
2006 |
2005 |
|
|
|
| Fundraising |
|
|
| annuity donations |
0 |
22.689 |
| capital transfer tax |
0 |
1.974 |
|
|
|
| Income from fundraising |
0 |
20.715 |
|
|
|
| general costs |
203 |
360 |
|
|
|
| Special income and expenditure |
|
|
| contribution to Net4kids Organisation |
106.757 |
106,539 |
|
|
|
| Balance |
-106.960 |
-86.184 |
|
|
|
| Financial income |
|
|
| interest income and expenditure |
1.003 |
17.715 |
| coupon interest |
55.719 |
15.166 |
| Total financial income |
56.722 |
32.881 |
|
|
|
| Financial expenditure |
|
|
| bankcosts for selling/buying stock/currency |
2.608 |
5.875 |
| unrealized stock results |
42.087 |
49.990 |
| realized stock results |
1.020 |
3.196 |
| Total financial expenditure |
45.715
|
59.061 |
|
|
|
| Total financial income and expenditure |
11.007 |
-26.180 |
| Available for goal |
-95.953 |
-112.364 |
|
|
|
| Project spending |
0 |
0 |
|
|
|
| Balance of statement of income and expenditure |
-95.953 |
-112.364 |
Commentary on statement of income and expenditure
Financial income and expenditure
Commentary on financial income and expenditure is given in chapter 11.5.
|