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 per 31 December 2007 (€) |
| Assets |
31 dec 2007 |
31 dec 2006 |
| Current assets |
|
|
| Accounts receivable |
|
|
| to be received coupon interest |
5.614 |
3.769 |
| Net4kids Organisation |
24.855 |
20.313 |
| Net4kids Aid Foundation |
94.852 |
94.852 |
| Total accounts receivable |
125.321 |
118.934 |
|
|
|
| Stocks |
927.305 |
1.117.494 |
| |
|
|
| Liquid assets |
|
|
| deposito |
0 |
110 |
| bank |
11.661 |
13.637 |
| Total liquid assets |
11.661 |
13.747 |
|
|
|
| Total assets |
1.064.287 |
1.250.175 |
| |
|
|
| Liabilities |
|
|
| Own capital |
|
|
| Exploitation balance through 2004 (2003) |
1.250.149 |
1.346.102 |
| Eexploitation balance 2005 (2004) |
-185.890 |
-95.953 |
| Total own capital |
1.064.259 |
1.250.149 |
|
|
|
| Short-term debts |
|
|
| to be paid bank interest and costs |
28 |
26 |
| Total short-term debts |
28 |
26 |
|
|
|
| Total liabilities |
1.064.287 |
1.250.175 |
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 Net4kids Organisation that can not be covered completely by organisation sponsors. No specifically earmarked reserves are held.
Currently there are no problems regarding continuity, based on the current capital balance (€ 1,064,259), the average returns in relation to project and donor commitment, and the level of annual out-of-pocket expenses in 2007 (€ 128,182). This is also commented on in chapter 11.5 (Financial Policy) and chapter 12.3 (Risks).
| Statement of income and expenditures (€) |
2007 |
2006 |
| Expenditures |
|
|
| general costs |
100 |
203 |
|
|
|
| Special income and expenditures |
|
|
| contribution to Net4kids Organisation |
-52.894 |
-106.757 |
|
|
|
| Balance |
-52.994 |
-106.960 |
|
|
|
| Financial income |
|
|
| interest income and expenditures |
465 |
1.003 |
| coupon interest |
59.182 |
55.719 |
| Total financial income |
59.647 |
56.722 |
|
|
|
| Financial expenditures |
|
|
| bank costs for stock trading |
2.354 |
2.608 |
| unrealized stock results |
190.189 |
42.087 |
| realized stock results |
0 |
1.020 |
| Total financial expenditures |
192.543 |
45.715 |
|
|
|
| Total financial income and expenditures |
-132.896 |
11.007 |
|
|
|
| Balance of statement of income and expenditures |
-185.890 |
-95.953 |
Commentary on statement of income and expenditure
Financial income and expenditure
Commentary on financial income and expenditure is given here.
|