Financial Report – 2019

Income

The Foundation successfully closed the year 2019 with 310,000 euros in revenues. Once again this year, our Foundation was able to count on a large number of loyal donors and permanent partners who support our projects. Besides, additional income was allocated to specific projects: the Paula Van de Watering Fund supported the Malnutrition project, and the Amélie & Elisabeth Fund supported the construction and maintenance of water wells and toilets in schools. The city of Leuven and the province of Flemish Brabant also increased their contributions respectively to “Every Woman a Banana Tree” and to the Foundation’s partner farm “Training Centre – Sokounon Farm”.

The expenses

Once again this year, the Foundation managed to limit total management costs in Belgium to 8,843 euros, or 2.88% of total income. These are administrative costs for publications in the Moniteur, financial costs, stamps, costs for the Newsletter and depreciation. The remaining 295,508 euros was spent in Benin on projects in the fields of health (85,276 euros), malnutrition (47,786 euros), education (39,829 euros) and agriculture (63,860 euros), office operations, staff and local costs (bank) (46,960 euros), logistics (2 containers of medical and other equipment: 11,797 euros).

The CIAP (Centre d’InnovAction Parakou) was completed and solemnly inaugurated in November 2019. On the assets side of our balance sheet, the centre is recorded with an evaluation of 85 490 euros for the land and the building. The Foundation has also purchased a second-hand all-terrain vehicle that is used for larger goods and journeys that cannot be made by moped. In 2019, the building and the car were depreciated on a pro-rata basis: 2 months for the building and 3 months for the car.

For the health programme, a total of 20,538 euros was spent on investments in the two partner hospitals in Papané and Boko. The largest amount, 64,738 euros, was spent on hygiene; the construction of 6 wells, 2 latrines and 7 urinals for schools and villages in the region.

The Foundation devoted 47,786 euros to the project to fight malnutrition in 50 villages in the N’dali region, under the direction of our nutrition specialist, with 12 animators, actively tracking malnourished children and setting up awareness campaigns.

The education programme for schools, the Summerschool programme with scholarships, support for the orphanage and the resumption of training for girls without diplomas at the CAMFP (Centre des Arts et Métiers de la Femme de Parakou) took 39,829 euros from the budget.

The Foundation devoted 22,745 euros to the agricultural program PRAFA (Project for Resilience and Empowerment of Women in Agriculture), a DGD program in collaboration with the NGO Eclosio. The banana project continued and amounted to 16,967 euros this year. The partner farm Centre de Formation et Ferme Sokounon received a total of 7,512 euros in support. The Foundation installed several Aquaponics systems (a solar-powered pump system that combines fish farming and small-scale horticulture): an investment of 16,635 euros.

The result

The Foundation closes with a positive result of 28,206.31 euros, which is added to the reserve. The projects undertaken by the Foundation are usually spread over several years, both in terms of income and expenditure. This addition to the reserve also guarantees the continuity of ongoing projects in the near future. Thanks to the annual reservation of reserves, the Foundation’s assets are more than sufficient to ensure the continuity of the commitments made. If income is disappointing in a given year, projects can always be continued and completed.