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AFEW:
Annual Report 2001/2002 >>
Fundraising and finances
Annual Report 2001/2002
Fundraising and finances
Financial support
Bilateral and foundation support
Since AFEW became an independent organisation one year ago, the range of donors
supporting its existing and new programmes has expanded and now includes Sweden's
SIDA, USAID, the Elton John AIDS Foundation, the Dutch Ministry of Foreign Affairs,
NOVIB (Oxfam – The Netherlands), Cordaid (The Netherlands), AIDS FONDS (The
Netherlands), TACIS/EU and the UK's Department for International Development
(DfID) which is a project partner of OSI-Russia.
Business community
AFEW has also begun targeting the international and Russian business communities,
thus far receiving contributions totalling nearly EURO () 30,000 from Unilever,
Akzo Nobel, the van der Pas Construction Group and Yukos Director Mikhail Soublin.
AFEW has signed a memorandum of understanding with the Global Business Coalition
on HIV/AIDS, which aims to mobilise the resources of national and international
businesses in response to the epidemic.
Financial review
This financial review covers the first operational year of AFEW ending 31 December
2002.
On 8 April 2002, the Central Bureau for Fundraising (CBF), which is a quality
hallmark for Dutch registered fundraising organisations, awarded the hallmark
of 'no objection' to AFEW which is the first step in the registration process
for the full CBF quality hallmark. In 2003, AFEW will complete the final step
in the registration process for the full CBF quality hallmark.
AFEW maintains its accounting records in accordance with the legislative requirements
of the Russian Federation, Ukraine, Kazakhstan, and The Netherlands. The financial
statements on pages 47-48 have been derived from the annual statements, a copy
of which may be obtained directly from AFEW.
Since its formation, AFEW has attracted over EURO10 million in subsidy commitments.
Actual income in the first operational year was 2,811 (in thousands), of which
2,794 (in thousands) consists of subsidies.
The total amount spent on Foundation objectives in the first operational year
was 2,634 (in thousands). Given the nature of the organisation, the largest
expenditures were for Human Resources and Training, and Material Development
- 1,306 (in thousands) (50%) and 471,000 (18%), respectively.
| Balance Sheet |
31 Dec 2002
EURO (in thousands) |
| ASSETS |
|
Operating assets
|
57 |
Stocks directly available for foundation goal
|
2 |
Subsidies receivable
|
6,866 |
| Other receivables
|
8 |
| |
6,933 |
Cash at bank and in hand
|
626 |
| Total assets |
7,559 |
LIABILITIES
|
|
Capital base
Freely disposable capital
|
120 |
| Tied up capital |
57 |
Liabilities
|
177 |
Subsidies commitments
|
7,282 |
Other liabilities
|
100 |
| Total liabilities |
7,559 |
| Statement of income and expenditure |
ACTUAL 2002
EURO (in thousands) |
| Income |
|
Income from own fundraising
|
49 |
Direct fundraising costs
|
(2) |
Subsidies from governments and others
|
2 ,794 |
| Other income & expenditure |
(30) |
| Total available for Foundation goals |
2,811 |
|
Spent on Foundation goals
|
|
|
Harm Reduction Programmes
|
1,292 |
|
HIV/AIDS Prevention and Health Promotion in Prisons
|
784 |
|
Mass Media Campaigns
|
211 |
|
Health Promotion among Sex Workers
|
44 |
|
New Project Development
|
303 |
|
Total spent on Foundation Goals
|
2,634 |
| Surplus |
177 |
| Income from subsidies in 2002 |
EURO (in thousands) |
Open Society Institute
|
226 |
Médecins Sans Frontières – Holland (MSF-H)
|
429 |
Dutch government
|
286 |
The Dutch Ministry of Foriegn Affairs (MATRA)
|
523 |
Cordaid
|
192 |
NOVIB
|
10 |
The UK Department for International Development (DfID)
|
542 |
The Swedish International Development Agency (SIDA)
|
346 |
The United States Agency for International Development (USAID)
|
89 |
| The Elton John AIDS Foundation (EJAF) |
151 |
| Total income subsidies in 2002 |
2,794
|
Total Spent on Foundation Objectives (EURO (in thousands))
| |
Harm Reduction
Programmes |
HIV/AIDS Prevention
and Health Promotion in Prisons |
Mass Media Campaigns |
Health
Promotion among Sex Workers |
New Project Development |
Total Spent
on
Foundation Objectives
|
| Salaries and social security charges
|
635
|
357
|
113
|
23
|
178
|
1,306
|
Travel and accommodation expenses
|
96
|
75
|
6
|
9
|
35
|
221
|
Office expenses
|
212
|
104
|
18
|
7 |
60
|
401
|
Consultancy fees
|
74
|
45
|
20
|
1
|
16
|
156
|
Training & material development
|
252
|
184
|
35
|
-
|
-
|
471
|
| Other general expenses |
23 |
19 |
19
|
4
|
14
|
79
|
| Total spent on Foundation objectives |
1,292
|
784
|
211 |
44 |
303 |
2,634 |
Auditors' Report
We have audited the abbreviated financial statements of AIDS Foundation East-West,
Amsterdam (The Netherlands), for the year 2002 (as set out on pages 47-48).
These abbreviated financial statements have been derived from the financial
statements of AIDS Foundation East-West for the year 2002. In our auditors'
report dated 3 March 2003 we expressed an unqualified opinion on these financial
statements. These abbreviated financial statements are the responsibility of
the company's management. Our responsibility is to express an opinion of these
abbreviated financial statements.
In our opinion, these abbreviated financial statements are consistent, in all
material respects, with the financial statements from which they have been derived.
For a better understanding of the company's financial position and results and
of the scope of our audit, the abbreviated financial statements should be read
in conjunction with the financial statements from which the abbreviated financial
statements have been derived and our auditors report thereon.
Amstelveen, 3 March 2003
KPMG Assurance N. V.
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