ICCF logo ICCF Holland - helping children in Uganda English
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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 2002

Overview of revenue and expenses
(in euro)

2002

2001

Revenue

   
sponsor contributions

12,012

11,655

one-time donations

17,237

14,776

interest

         9

          10

total

29,258

26,441

Expenses    
contributions towards the project in Uganda

28,998

26,265

costs    
     foundation costs

   33

   33

     Bank costs

 227

 143

total costs

      260

      176

total

29,258

26,441

Result

nil

nil

Explanation

The revenue and expenses show that the total revenue has grown 11% in 2002, compared to 2001. Especially the one-time donations have grown.

Most sponsors and donors from Germany started paying through MISEREOR in 2002. This gives them a tax advantage. In 2002 about 10,140 euro has been received by MISEREOR. This money goes directly to the project and can therefore not be found in the ICCF Holland figures. When adding MISEREOR to the total amount that sponsors and donors have contributed towards the project, the increase is almost 50%.

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 even bigger.

Revenue in percentages

2002

2001

sponsor contributions

41 %

44 %

one-time donations

59 %

56 %

 

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 2002 was 0.9% 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)

2002

2001

 

2002

2001

To be received from sponsors

  nil

   52

Equity

nil

nil

Fund balances

1,078

1,235

To be send to the project in Uganda

1,078

1,287

total assets

1,078

1,287

total liabilities

1,078

1,287

Explanation

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

The fund balances (only a bank balance) are completely destined to be send to Uganda. Larger amounts are transferred 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 2003

In January 2003 61 children are being sponsored. The monthly income is about 900 euro. Additionally there are quite a few sponsors that pay yearly. We hope to further increase the number of sponsors in 2003.

The income from the one-time donations is, considering the incidental nature, hard to predict. The past few years the amount has been rising, but does not necessarily mean this will continue in 2003.

 

Venlo, 27 January, 2003,

Bram Moolenaar, treasurer.

For comments on the ICCF Holland pages and for more information contact Bram Moolenaar (Bram AT iccf-holland DOT org).
Information about these pages, privacy, etc.:   colofon
These pages are available at:   iccf-holland.org     www.iccf.nl