Stichting Net4kids Aid Foundation
Financial Report
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 2007 (€) |
| Assets |
31 dec 2007 |
31 dec 2006 |
| Current assets |
|
|
| Accounts receivable |
|
|
| debtors |
75.559 |
10.880 |
| surplus payments |
11.072 |
0 |
| Net4kids Organisation |
14.488 |
14.067 |
| Total accounts receivable |
101.119 |
24.947 |
|
|
|
| Liquid assets |
|
|
| bank account |
326.462 |
225.332 |
| Total liquid assets |
326.462 |
225.332 |
| Total assets |
427.581 |
250.279 |
|
|
|
|
|
|
| Liabilities |
|
|
| Short-term debts |
|
|
| advanced project costs |
-112.764 |
-77.539 |
| to be spent on projects |
143.831 |
127.525 |
| donations received in advance |
301.662 |
105.441 |
| Net4kids Continuity Fund |
94.852 |
94.852 |
| Total short-term debts |
427.581 |
250.279 |
| Total liabilities |
427.581 |
250.279 |
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. To date, this situation has not occurred. Enough donors have been found in time for all projects.
The advanced project costs increased in 2007. This increase is in line with the increase in donations and project spending.
The item to be spent on projects consists of donations that have been received but not yet transferred to our project partners. This increase is also in line with the increase in donations and project spending.
Donations received in advance are donations received for several years of support or donations that have not yet been assigned to a project. The increase is driven by a limited number of large donors.
Obligations not visible in the balance
On the balance date, the following project obligations existed but were not included in the balance:
For the period 2008: |
€ 119.222 |
For the period 2009: |
160.316 |
For the period 2010-2011: |
165.625 |
The following donation commitments balance these obligations:
In addition to these donation commitments, in part to cover project obligations, a sum of donations received in advance of € 301,662 is available.
| Statement of income and expenditure (€) |
2007 |
2006 |
| Income |
|
|
| Fundraising |
|
|
| received donations |
619.961 |
510.275 |
| Income from fundraising |
619.961 |
510.275 |
|
|
|
| Expenditures |
|
|
| Project spending |
619.961 |
510.275 |
| Total spent on goal |
619.961 |
510.275 |
|
|
|
| Balance of statement of income and expenditure |
0 |
0 |
Commentary on statement of income and expenditure
Actual donations in 2007 grew by 21.5% compared to 2007, but do not reach the budget for 2007 (€ 685,000). Despite the lower than budgeted amount, Net4kids continues to grow. Strong growth in past years was primarily driven by growth in business donations. Over the past year, growth in business donations slowed (+ 22%), while private donations showed a 15% increase after a relatively large drop in 2006.
All activities required for fundraising, back-office and infrastructural support of the Net4kids Aid Foundation are covered financially by the Net4kids Organisation.
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