The financial figures are determined in accordance with the accounting principles, valid for non-profit organizations. Income and expenses are recognized in the year in which they occur.


Statement of financial activities (€)
  2018 2017
Return on securities (416,178)  439,183
Donations 664,566            645,238            
Total income 248,388  1,084,421
Project donations  1,419,176 612,314
Adjustments for prior years/exchange rate differences  (60,000)       6,175               
Net amount assigned to projects  1,359,176 618,489
Operational cost 39,537             
Total expenses 1,398,713  669,224
Total operating income minus expenses (1,150,325) 415,197
Financial income and expenses 5,807  27,902
Net result (1,144,518)  443,099
Guide to terms used

Return on securities are defined as the sum of the income received from investment in securities and the unrealized value changes in securities. The return on securities also include costs payable to professional asset managers.

Donations are recognized in the statement of financial activities when the amount is virtually certain to be received and can be reliably measured.

Total income is recognized in the statement of financial activities when it is probable that the economic benefit will flow to the foundation and the amount of incoming resource can be reliably measured. Expenses are allocated to the year to which they incurred.

Project donations are accounted for in the statement of income and expenses and recorded as an obligation on the balance sheet once a commitment is done in the framework of a project application.

Operational expenses are calculated based on historical costs and are attributed to the year to which they relate, unless stated otherwise. For risks and charges, inherent to the activities of the foundation, facilities are affected.

Financial income and expenses include the interest rate (costs and benefits) and exchange results on foreign currency, recognized in the accounting period to which they relate.

Net result is determined as the difference between the returns on securities and donations and all direct and indirect costs and expenses connected with the reporting year in accordance with the goals of the foundation.