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ICCF logo Stichting ICCF Holland
Clematisstraat 30
5925 BE Venlo
The Netherlands

tel. +31 77 3872340
giro 4548774
KvK Venlo 41064588
http://iccf-holland.org

Financial report 2001

Overview of revenue and expenses
(in euro)

2001

2000

Revenue

   
sponsor contributions

11,655

8,907

one-time donations

14,776

8,418

interest

         10

          8

total

26,441

17,333

Expenses    
contributions towards the project in Uganda

26,265

17,218

costs    
     foundation costs

   33

   19

     Bank costs

 143

   87

     administration costs

     0

     9

total costs

      176

      115

total

26,441

17,333

Result

nil

nil

Explanation

The revenue and expenses show that the total revenue has grown 53% in 2001, compared to 2000. Both the contributions from sponsors as well as the one-time donations have grown. There has been no sale of Vim in 2001. Most of the donations have been received for the use of Vim, but this is not mentioned separately, because it is not always clear if a donation was made because of using Vim.
In the next table can be seen that the share from the sponsors has become smaller, which makes the dependency on one-time donations a bit bigger.

Revenue in percentages

2001

2000

sponsor contributions

44 %

51 %

one-time donations

56 %

49 %

 

100 %

100 %

We aim at very low costs. The goal is to limit the costs to 5% of the revenue.
The revenue and expenses show that the cost in 2001 was 0.7% of the total revenue. Thus the goal has been met by a large margin. The largest parts of the costs are the banking costs. They are mostly for transferring the money to Uganda and to cash foreign donations.

Balance at December 31
(in euro)

2001

2000

 

2001

2000

To be received from sponsors

   52

  631

Equity

nil

nil

Fund balances

1,235

1,008

To be send to the project in Uganda

1,287

1,639

total assets

1,287

1,639

total liabilities

1,287

1,639

Explanation

As can be seen from the balance, the foundation does not have any equity. All revenue is sent to the project in Uganda, after reduction by expenses.

The fund balances are lower by the end of 2001 than they were in 2000, but are still quite high. The reason is that larger amounts are transferred to Uganda at a time, to reduce banking costs.

The monthly payment from some sponsors for December 2001 was only received in January 2002. These assets are considered to be part of the year 2001 and are therefore noted here as "to be received" in the balance.

Expectations for 2002

In January 2002 54 children are being sponsored. The monthly income is about 800 euro. We hope to further increase the number of sponsors in 2002. The monthly amounts have been raised by about 20% in January 2002. Therefore we expect that the total income from sponsors will be higher in 2002.
The income from the one-time donations and sale of Vim are, considering their incidental nature, hard to predict. Considering that a few large one-time donations have been received in 2001 and sponsors in Germany now have another way for making donations that allows for a tax reduction, it is very well possible that the income from one-time donations will decline in 2002.

 

Venlo, 14 January, 2002,

Bram Moolenaar, treasurer.

For comments on the ICCF Holland pages and for more information contact Bram Moolenaar (Bram AT iccf-holland DOT org).
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