Women Win Annual Account 2013

Annual Accounts 2013

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Table of contents 1 Balance sheet as per 31 December 2013 2

Statement of income and expenses in 2013 3

Accounting policies for the Balance sheet and Statement of income and expenses 4

1. Tangible fixed assets 6 2. Receivables 7 3. Cash and cash equivalents 8 4. Reserves & funds 8 5. Current liabilities 10 6-9. Income 12 10. Allocation of expenses 13 11. Staff costs 14 Other information 16

Auditor's Report 17 Budget 2014 18

Appendix: Cash flow 19


2

Balance sheet as per 31 December 2013 (in euro)

(after proposed appropriation of results)

Ref 31 Dec 13 31 Dec 12

ASSETS

Tangible fixed assets

Property, plant & equipment 1 6,680 6,393

Current assets

Receivables and prepayment 2 727,323 562,449

Cash and cash equivalents 3 237,604 332,029

964,927 894,478

971,608 900,871

RESERVES, FUNDS & LIABILITIES

Reserves

Continuity reserve 4A 200,913 180,804

Funds

Earmarked funds 4B 519,988 580,486

Current liabilities

Accounts payable 5 38,938 35,389

Taxes and social security payments 5 13,663 12,220

Accruals, provisions & other liabilities 5 198,107 91,973250,707 139,581

971,608 900,871


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See note 4 for more information about the composition of the reserves and funds.

Statement of income and expenses in 2013 (in euro) Ref Actual 2013 Budget Actual 2012

2013 as a %

of 2012

Income

Income from direct fundraising 6 637,317 634,500 569,192 112%

Income from third party campaign 7 0 0 381,745 0%

Grants from governments 8 1,363,204 1,100,000 647,839 210%

Other income 9 21,856 25,000 26,187 83%

Total income 2,022,376 1,759,500 1,624,964 124%

Expenditures on objectives

Objective strengthen 10 1,111,685 772,000 647,520 172%

Objective impact 10 193,780 439,431 455,681 43%

Objective catalyze & learn 10 489,854 156,569 103,691 472%

Sub-total expenses on objectives 1,795,319 1,368,000 1,206,892 149%

Expenditures on fundraising 10 184,009 162,000 73,596 250%

Overhead and administration 10 83,436 229,500 95,675 87%

Total expenses 2,062,765 1,759,500 1,376,163 150%

Result (surplus/deficit) -40,389 0 248,801 -16%

Appropriation of the surplus/deficit (in euro) 2013 2012

Continuity reserve 20,109 -70,236

Earmarked fund -60,498 319,037

Total -40,389 248,801

Ratios (%) Actual 2013 Budget Actual 2012

Cost of own fundraising expense/Total income 9% 9% 5%

Cost overhead and administration/Total expenses 4% 13% 7%

Total expenditure on behalf of the objective/Total income 89% 78% 74%

Total expenditure on behalf of the objective/Total expenses 87% 78% 88%


4

Accounting policies for the Balance sheet and Statement of Income and expenses

General This report is drawn up following the principles of historical costs. The functional currency in the statement of annual accounts is the Euro and will be compared by the board of directors with the approved budget for 2013 and the actual accounts of 2013. Unless indicated otherwise, assets and liabilities are stated at the amounts at which they were acquired or incurred. The annual accounts are arranged according to the accounting principles generally accepted in the Netherlands for Fundraising Organisations RJ650 and the account policies are consistent with those used in previous years. The object of this directive is to give better insight into the costs of the organisation and expenditures of the resources in relation to the objective for which these funds were brought together. The company’s statutory seat is in the city of Amsterdam, with registered offices located at 127 Tolstraat, 1074 VJ Amsterdam. Fixed assets Fixed assets are value at purchase price minus depreciation, determined on a straight line basis over the economic life span, taking into account any residual values. Reserves and funds The equity of the organisation is in place in order for the organisation to achieve its objectives. The equity is divided into the continuity reserve and earmarked funds. The reserves are earmarked by the Board, whereas the funds are earmarked by the third parties, corporations and sponsors. Other assets and liabilities Other assets and liabilities are valued against amortised cost. The valuation of accounts receivable is made by the deduction of a provision because of uncollectibility based on the individual valuation of the accounts receivable. Impairment of non-current assets At each balance sheet date, the foundation tests whether there are any indications of assets being subject to impairment. If any such indications exist, the recoverable amount of the asset is determined. If this proves to be impossible, the recoverable amount of the cash-generating unit to which the asset belongs is identified. An asset is subject to impairment if its carrying amount exceeds its recoverable amount; the recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. Foreign currency Transactions in foreign currency are converted to Euro at the exchange rate of the transaction dates. At the end of the financial year all accounts receivable and liabilities in foreign currency are converted to Euro on the basis of the exchange rate as per balance date. Any conversion and exchange rate differences arising are added or charged to the profit and loss account.


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Interest paid and received Interest paid and received is recognised on a time-weighted basis, taking account of the effective interest rate of the assets and liabilities concerned. When recognising interest paid, allowance is made for transaction costs on loans received as part of the calculation of effective interest. Contributions, donations and grants The income consists of the proceeds from contributions, donations, grants and other income which are ascribed to the financial year concerned. Donations are recognized in the year in which they were committed. Donations that have been received but have not yet been assigned to objective spending are included in the balance sheet under earmarked funds. Losses are taken into account if they originate in the financial year in question and as soon as these are anticipated. Grants are accounted for in the year of receipt. Government subsidies Operating grants are accounted for as income in the profit and loss account, in the year in which the subsidized costs have been incurred or resulted in losses of revenue, or when a subsidized operating deficit occurred. The income is recognised when it is probable that it will be received by Women Win and that Women Win can show compliance with donor conditions. Gift in kind Gifts in kind are valued against fair value in The Netherlands. Contributions from volunteers are not financially accounted for. Processing of in kind does not affect the results and the equity, but only in volume of the income and expenses. The income is accounted for under the income own fundraising. The expenses are accounted for where they are usually accounted for. Cross-charged expenses Based on the accounting principles generally accepted in the Netherlands for Fundraising Organisations RJ650, the following activities have been determined within the organisation: * Project activities - Strengthen

- Impact - Learn & Catalyse

* Fundraising activities * Administration & overhead activities The organisation has cost in support of these activities. These costs are recognised to the year concerned and are charged to the respective activities based on a fixed distribution matrix as approved by the Board of directors. This distribution formula is determined per staff member based on time spent on the activity. Direct costs on behalf of the main activity are also ascribed to the year concerned. Administration and overhead cost is presented as net, after charging time and cost to the other activities based on the board approved allocation distribution matrix.


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Notes to Balance Sheet as per 31 December 2013

Depreciation percentage used: 33% Office equipment is depreciated over a life term of 3 years Capital assets An investment of € 4,742 was made in 2013, for computer hardware and software. Devices were added to the asset registered and will be depreciated over the lifetime of 3 years at 33%. There were no divestitures of assets during the year. Women Win anticipates the purchase of several new computers in 2014, in order to support organisational growth and/or the replacement of obsolete devices that have been fully depreciated.

1. Tangible fixed assets (in euro) Capital assets

Opening balance on 1 January 2013

Acquisition costs 10,690

Accumulated depreciation 4,297

Book value 6,393

Changes

Investments 4,742

Divestments 0

Depreciation 4,455

Depreciation divestments 0

Balance 287

Closing balance 31 December 2013

Acquisition costs 15,432

Accumulated depreciation 8,752

Book value 6,680


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Receivables general

Overall there was an increase of € 164,874 in receivables during 2013. This was the result of an increase in receivable income due to pre-financing activities and an increase in the security deposits for the new office location. All receivables fall due in less than 1 year. Taxes Due to Collective WGA tax rate change during 2013, a notification of a tax credit in the amount of € 1,991 was received in January 2014, and reflected in the 2013 results. Receivable income The impact of pre-financing activities under our DFID and MFSII donor agreements has resulted in an increase of receivable income from € 549, 443 in 2012, to € 706,761 in 2013, or an increase of €157,318. Receivable interest There was a decline in earned interest of € 2,581 or 48% as compared to 2012, as a result of less available cash in interest bearing accounts due to pre-financing activities. Deposits In September 2013, Women Win signed a new rental agreement for office space; effective 15 November 2013 to 14 November 2016. A bank guarantee in the amount of € 10,548, equivalent to 3 month’s rent, was secured with our financial institution for the deposit on the new location. Due to overlapping rental periods at the end of the year for office relocation, security deposits are being held by both the former and present lessors. Women Win expects full return of the security deposit on the former office location minus an outstanding commitment of € 1,187 for rent during the termination period.

2. Receivables (in euro) 31 Dec 13 31 Dec 12

Taxes and social security 3,049 0

Other receivables, prepayments and accrued income 724,275 562,449

727,323 562,449

Taxes and social security

Taxes 1,991 0Pensions 1,058 0

3,049

Other receivables, prepayments and accrued incomeReceivable income 706,761 549,443Receivable interest 2,771 5,352Deposits 14,137 4,730Prepaid cost 605 2,924

724,275 562,449


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Cash and cash equivalents include cash in hand, bank balances and deposits held at call with maturities of less than 12 months. Cash and cash equivalents are stated at face value and are at free disposal of the organization.

The reserves are spent in concordance with the designated purpose given to them with the establishment of the income. In the view of correct justification of the tied-up reserves, already, at the receipt of gifts, donations and grants, the earmarking of funds for projects is taken into account. At the end of 2013, the reserves and funds were € 720,901 (2012: €761,290), inclusive of a continuity reserve of €200,913. (A) Continuity reserve

The continuity reserve has been drawn up to cover risks in the short-term to ensure that Women Win can meet its obligations in the future. Guidelines For the determination of the size of the continuity reserve, Women Win follows the guidelines of the Dutch Fundraising Institutions Association (VFI). The guidelines allow for a maximum reservation of 1.5 times the cost of the operational organisation. The operational organisation is defined according to the VFI code as cost own staff (for the recruitment as well as the execution of the objectives), housing costs, office and administration cost on behalf of the organisation, management costs, costs for fundraising as well as the costs of out-sourced services concerning the above mentioned posts.

3. Cash and cash equivalents (in euro) 31 Dec 13 31 Dec 12

ABN AMRO, current account 9,179 5,044

ABN AMRO, savings account 201,705 196,383

ABN AMRO, internet savings account 23,735 130,399

Petty Cash 2,985 202

237,604 332,029

4. Reserves and funds (in euro)

(A)

Continuity

Reserve

(B)

Earmarked

Funds

Total

Opening balance as per 01 January 2012 251,040 261,448 512,488

- Additions 716,424 716,424

- Withdrawals 70,236 397,386 467,622

Opening balance as per 01 January 2013 180,804 580,486 761,290

- Additions 20,109 409,868 429,977

- Withdrawals (470,367) (470,367)

Closing balance as per 31 December 2013 200,913 519,988 720,901


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Women Win is not a member of the VFI. However, we can confirm that our continuity reserve falls within the range given in the VFI guidance for reserves. The continuity reserve is currently at 0.35 times the operational cost. The board of directors strives to reach a minimum of 0.5 times the annual operational cost for the continuity reserve in order to minimize the short-term risk and to ensure that the ongoing obligations of the organisation can be met in the future. (B) Earmarked funds

When third parties, thus not Women Win, have given specific destinations to its funds, an earmark fund is created. At the end of 2013, Women Win earmarked the following funds:

At the close of 2013, Women Win earmarked € 409,868 in income, to be spent in future years, for the specific purpose it had been granted for. Additionally, Women Win released € 470,367 in funds that had been previously earmarked in prior years. Use of these funds in 2013, were consistent to the donor's wishes. The net result in 2013, to the earmarked funds was a decline of € 60,498 from € 580,486 in 2012, to € 519,988 in 2013. The following funds were earmarked as per wish of the donors.

.

Earmarked funds

As of 31 Dec

2012 Additions Withdrawals

As of 31 Dec

2013

Novo 7,121 -547 6,575

Comic Relief 154,267 -69,491 84,776

Women Win Foundation, Inc. 0 21,000 21,000

Standard Chartered Bank 263,460 223,868 -244,533 242,795

Nike 0 165,000 -158 164,842

Ribbink van den Hoek 75,000 -75,000 0

Reta Lile Howard 5,638 -5,638 0

Stichting Hivos 75,000 -75,000 0

580,486 409,868 -470,367 519,988


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Different types of Rights & Obligations that are not included in the balance sheet Rental contract In 2013, Women Win made the decision to relocate office space to a larger and more suitable location in Amsterdam in order to accommodate future growth. A three year rental contract with an additional three year option was signed in September of 2013, with an effective date of 15 November 2013 until 14 November 2016. As per 31 December 2013, the value of rental obligation remaining is € 124,819 + annual indexation. MFS II / Girl Power Alliance Promoting Equal Rights and Opportunities for Girls and Young Women - The subsidy for the Girl Power alliance is a five year program for €52 million financed by the Ministry of Foreign Affairs (MFSII). The alliance consists of Women Win, Child Helpline International, DCI-ECPAT, Free Press Unlimited, ICDI and Plan Nederland as coordinator. The program is an effort by six allied Dutch civil society organizations to fight the injustices girls and young women face daily in 10 developing countries. The total contribution for Women Win is EUR 1.9 million over five years. Income is realized under RJ 274, therefore income must equal expenditures. The contributions from 2012 - 2013, that have not been spent are referred to in other current liability as "subsidies received in advance (MFSII)." 2013 was the third year of the five year program.

5. Current Liabilities (in euro)

31 Dec 13 31 Dec 12

Accounts payable 38,938 35,388

Taxes and social security 13,663 12,220

Other current liabilities, accruals and deferred income (in euro) 198,107 91,973

250,707 139,581

The current liabilities all have a residual maturity of less than one year.

Creditors (in euro)

Creditors 38,938 35,388

38,938 35,388

Taxes and social security (in euro)

Wage taxes 13,663 12,220

13,663 12,220

Other current liabilities, accruals and deferred income (in euro)

Grant obligations 134,717 18,075

Accruals 27,853 28,584

Subsidies received in advance (MFSII) 0 21,193

Obligated future expenditures 33,140 23,750

Net Salary and staff cost 2,397 371

198,107 91,973


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Department of International Development (DFID) In the 4th Quarter of 2012, Women Win entered a 3 year agreement with the Department for International Development (DFID) in the United Kingdom. The project, part of DFID’s Leadership for Change programme, focuses on building leadership in young women through sport. As part of the project, Women Win works with 8 local partners in 7 different countries. Women Win will pre-finance the cost for implementing programs under the terms of the contract to an agreed upon maximum budget with DFID per annum. Incurred cost from the previous quarter will be realized as "Income from government grants and subsidies" on date of invoicing, following the close of the quarter. The total contribution for Women Win is EUR 1.8 million over three years. Embassy of the Kingdom of the Netherlands (EKN) Women Win is in year two of a three year agreement with the Embassy of the Kingdom of the Netherlands in Nairobi. We are supporting 3 young and innovative organisations that work in Nairobi and Marsabit. All organisations use sport in an innovative way to address peace, FGM or HIV/AIDS in Kenya. The grant will focus on building their capacity in becoming a sustainable organisation beyond the 3-year grant of the Embassy. Contract is worth EUR 149,400 over three years. Terms of contract run from 01 Dec 2012 to 30 Nov 2015. Contributions received in advance from EKN are referred to in other current liability as "obligated future expense."


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Notes to Statement of Income & Expenses 2013

*Gift in kind In 2013, the gifts in kind amounted to approximately € 53,880. In 2012, this was approximately €11,600 and 2011, €109,667. In accordance with the notes to the balance sheet, Women Win values gifts in kind against fair value in the Netherlands.

6. Income from sponsoring and donations (including pro bono donations) (in euro) 2013 Budget 2012

2013 as a %

of 2012

Received sponsoring grants* 445,520 229,000 280,456 159%

Donations and gifts 191,796 405,500 288,736 66%

Total income from sponsoring and donations (including pro bono) 637,317 634,500 569,192 112%

Sponsoring grants from:

Discover Football 0 0 400 0%

Standard Chartered Bank 223,861 189,272 263,098 85%

Swiss Academy of Development (SAD) 2,779 4,728 5,358 52%

Nike 165,000 0 0 0%

391,640 194,000 268,856 146%

*Women Win received in-kind donations from the following partners:

Salesforce 19,440 11,600 11,600 168%

Microsoft / Tech Soup 15,580 23,400 0 0%

Nike 11,860 0 0 0%

Bussum Football League 4,800 0 0 0%

Standard Chartered Bank 600 0 0 0%

DLA Piper 1,600 0 0 0%

53,880 35,000 11,600 464%

Total received sponsoring including pro bono 445,520 229,000 280,456 159%

7. Income from third party campaign

Comic Relief 0 0 231,745 0%

Stichting Hivos 0 0 150,000 0%

Total income from third party 0 0 381,745 0%

8. Grants from government

DFID 824,598 652,610 135,233 610%

Embassy of the Kingdom of the Netherlands 41,335 49,500 46,374 89%

Australian Sports Commission (ASC) 0 0 63,471 0%

Plan Nederland / MFS2 497,270 397,890 402,762 123%

Total grants from government 1,363,204 1,100,000 647,839 210%

9. Other income

Additional Plan Nederland (MFSII) 0 0 2,332 0%

Donor Reimbursed Expenses 17,941 15,000 15,500 116%

Bank Interest Earned 3,915 10,000 8,356 47%

Total other income 21,856 25,000 26,187 83%

Total income 2,022,376 1,759,500 1,624,964 124%


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10. Summary: Specification and cross-charge of expenses to objectives (in euro)

The above overview is in accordance with the “Model Toelichting lastenverdeling” from RJ 650.

Allocation of expenses by percentages

Staff cost 20% 17% 25% 25% 13% 100%

Rent and accommodations 20% 17% 25% 25% 13% 100%

Office and general cost 20% 17% 25% 25% 13% 100%

Depreciation and interest 20% 17% 25% 25% 13% 100%

Cost allocation of expenditures (cross-charge) Women Win allocates cost based on percentages. We have used the estimated time spent per full time employee as the most important allocation percentages. The Board of directors has approved these allocation percentages. Costs spent on objectives calculations A total of € 1,795,319 was spent in 2013, on the objective of the organization. Increase was due to the accelerated release of grants, originally planned for 1Q14. Cost of fundraising calculation In 2013, Women Win's total income from fundraising was € 2,000,520. Total cost for fundraising in 2013 was €184,009. The percentage of fundraising cost (cost of direct fundraising/income from direct fundraising) for Women Win is very low. Our total cost of fundraising is 9% (2012: 5%), (inclusive of direct fundraising cost). Women Win anticipated higher fundraising cost in 2013, as we expanded our fundraising efforts by adding a full-time staff position to support sustainable future growth. This is well below to 25% as stipulated by the Central Bureau of Fundraising (CBF), which is the Dutch Certificate for charitable institutions. Cost of overhead and administration The total cost of Women Win’s overhead and administration was € 83,436 (2012: € 95,675). The total cost for Women Win in 2013, was € 2,062,765. The total overhead and administration cost expressed as a percentage of expenses for 2013, is 4% (2012: 7%).

FundraisingOverhead &

AdminTotal 2013 Budget 2013 Total 2012

Objectives Strengthen Impact Learn

Grants and contributions 965,428 84,672 204,248 1,254,348 778,262 564,274

Work done by third parties 17,893 0 125,151 23,554 166,598 177,738 75,931

Staff costs 94,024 79,920 117,530 117,530 61,116 470,120 666,500 553,028

Rent and accommodation 6,042 5,135 7,552 7,552 3,927 30,208 28,438 28,438

Office and general costs 27,430 23,314 34,287 34,287 17,829 137,148 105,034 150,963

Depreciation and interest 868 738 1,086 1,086 564 4,342 3,528 3,528

1,111,685 193,780 489,854 184,009 83,436 2,062,765 1,759,500 1,376,162

Objectives


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For the percentage cost overhead & administration, Women Win maintains a low cost policy. For that reason, Women Win has put the long term objectives for the percentage at 15% or below. The entire growth in costs should be made on behalf of the objectives in order to keep the percentage overhead and administration low.

Periodic affordable benefits

Wages, salaries and social security according to the employment terms and in accordance with Dutch labour laws are included in the profit and loss account as long as they are due to employees.

Pensions The foundation pays premiums based on (legal) requirements, contractual and voluntary basis to pension funds and insurance companies. Premiums are recognised as personnel costs when they are due. Prepaid contributions are recognised as deferred assets if these lead to a refund or reduction of future payments. Contributions that are due but have not been paid yet are presented as a liability. Number of full time equivalents

In the year 2013 there were on average 8 employees, employed full-time. No employees were employed abroad during 2013. In 2012, there were on average, 7 full-time employees, 2011, 6 and 2010, 4 full time employees. Volunteers & interns

The non-financial contribution that is provided by volunteers and interns is not accounted for in the statement of income and expenses. In 2013, Women Win had on average 2 volunteers and 2 interns working on programme activities. Board remuneration

No remuneration was offered to board members and no loans, advances or guarantees were given.

The President & Executive Director

The fee for the remuneration of the Executive director and President is set well below the maximum guidelines of the Dutch Fundraising Institutions Associations for management salaries. Management salaries are annually determined by the Board of Directors on the basis of the evaluation of management.

11. Staff Costs (in euro) 2013 2012

Salaries and wages 341,625 400,113

Social security 51,568 53,375

Pensions 17,787 20,497

Freelancers 94,325 71,974

Other staff costs 7,956 7,071

513,261 553,029


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Director Remuneration (in euro) 2013

The total salary of the Founder and President was:

Gross salary 14,420

Holiday allowance 1,154

Social security 2,545

Pension 930

Full-Time percentage: (Jan - Jul: 16 hrs./wk.) 19,049

The total salary of the Executive Director was

Gross salary 77,760

Holiday allowance 6,221

Social security 8,838

Pension 7,217

Full-Time percentage: 100% 100,036


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Other Information Result Appropriation The board of directors strives to reach a minimum of 0.5 times the annual operational cost for the continuity reserve in order to minimize the short-term risk and to ensure that the ongoing obligations of the organisation can be met in the future.

Subsequent events There were no subsequent events after year end with an impact on the 2013 financial statements.

Proposed Result Allocation 2013

Result (surplus/deficit) -40,389

Added to/withdrawn from:

Continuity reserve 20,109

Earmarked reserve

Earmarked fund -60,498

Other reserve

Total -40,389


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Independent auditor's report

To the Board of Stichting Women Win

We have audited the accompanying financial statements 2013 of Stichting Women Win, Amsterdam, which comprise the balance sheet as at 31 December 2013, the statement of income and expenditure for the year then ended and the notes, comprising a summary of accounting policies and other explanatory information.

Board of directors’ responsibility The board of directors is responsible for the preparation and fair presentation of these financial statements in accordance with the Guideline for annual reporting 650 “Charity organisations” of the Dutch Accounting Standards Board. Furthermore, the board of directors is responsible for such internal control as it determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the foundation’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the foundation’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the board of directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the financial statements give a true and fair view of the financial position of Stichting Women Win as at 31 December 2013, and of its result for the year then ended in accordance with the Guideline for annual reporting 650 “Charity organisations” of the Dutch Accounting Standards Board.

Announcement according to the directors’ report We have read the directors’ report in order to identify material inconsistencies, if any, with the audited financial statements. Based on reading the directors’ report we established that the directors’ report is consistent with the information in the financial statements and that the directors’ report contains all information required by Guideline for annual reporting 650 "Charity Organisations" of the Dutch Accounting Standards Board. We have not audited or reviewed the information in the directors’ report.

The Hague, 5 May 2014 PricewaterhouseCoopers Accountants N.V.

Original has been signed by M. van Ginkel RA


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Budget 2014

Programs & Operations Budget 2014

Income:

Direct fundraising 59,500€

Sponsoring grants 380,000€

Gifts in kind 35,000€

3rd party campaign 315,760€

Grants/Subsidies from government 1,100,000€

Other income 10,000€

Total Income 1,900,260€

Expenses:

Pillar 1: Strengthen

1.1 Identify and invest in flagships and incubators worldwide 2013 785,959€

1.2 Learn, evaluate and document impact 92,380€

Total Programs - Strengthen 878,339€

Pillar 2: Learn

2.1 Pollinate good practices € 375,965

2.2 Document and open source a robust collection of guidelines & curriculum € 87,992

Total Programs - Learn 463,957€

Pillar 3: Catalyze

3.1 Inform & engage key stakeholders to influence practices and policies 33,496€

3.2 Build a movement that mobilizes resources 24,731€

Total Programs - Catalyze 58,227€

Development & Fundraising

Development & Fundraising Cost 210,234€

Total Develop & Fundraising Cost 210,234€

Operations

Operational Cost 289,503€

Total Operations Cost 289,503€

Total Expenses

Total Programs & Operational Cost 1,900,260€

Result:

Result (surplus/deficit) -€

Women Win Budget by Pillar

2014 Budget (EUR)


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Appendix: Cash flow

The cash flow statement that is presented takes no account for the exchange rate differences per 31 December 2013. The Cash Flow statement is provided for informational purposes only and is not required under Dutch laws and regulations; therefore the statement has been presented as an appendix to the annual statement of accounts.

Cash flow overview 2013 2013 2012

Cash flow from operational activities (in euro)

Income 2,022,376 1,624,964

Expenses -2,062,765 -1,376,163

-40,389 248,801

Adjustment for:

Depreciation on tangible fixed assets 4,455 3,528

Book value of divestment 0 0

Gross cash flow from operational activities -35,934 252,329

Changes in working capital:

Receivables and prepayments -164,874 -234,745

Current liabilities 111,126 -246,135

-53,749 -480,880

Cash flow from operational activities (A) -89,682 -228,551

Cash flow from investment activities

Investments tangible fixed assets -4,742 0

Cash flow from investment activities (B) -4,742 0

Net cash flow (A + B) -94,425 -228,551

Movements in cash and cash equivalents: 2,013 2,012

Opening balance cash and cash equivalents 332,029 560,579

Changes in cash and cash equivalents -94,425 -228,551

Closing balance cash and cash equivalents 237,604 332,029

Documents

Women Win Annual Account 2013