Financial Report – 2020

Income

The Foundation ended the year with 286,000 euros in donations. A large part of this amount came from our partners such as Materialise, the Gillès Foundation, the Paula Vandewatering Fund and the Amélie and Elisabeth Fund. We were also able to count on contributions from public authorities, individuals, and companies. Due to the corona crisis, service clubs and schools could not organise fundraising activities, but we did achieve a good result with our virtual sports event “A leg up for Benin”.

Expenditure

In terms of expenditure, management costs in Belgium represent only 3,17% of the income.
Expenditure for the Benin team, including salaries, specific operating funds and building maintenance costs, amounted to 47,583 euros. In what has been an exceptionally difficult year, a lot of valuable medical, IT and educational equipment was donated, including three ambulances, two X-ray machines, a mobile clinic in excellent condition, personal computers, laptops, and servers. The transport and logistical costs for shipping all of this amounted to 26,673 euros.

The two hospitals, Saint-Martin in Papané and Saint-Jean-de-Dieu in Boko, invested their annual allocations of 25,000 euros. Saint-Martin also used a transfer from previous years to complete the construction of the surgical block, among other things. Saint-Jean-de-Dieu used it to start the construction of the recovery. The new investment item in the income statement, “Support to AMCES hospitals”, amounts to 25,328 euros. This item represents support to the AMCES network of hospitals through a training programme and the distribution of a wide range of quality medical equipment. Our two hospitals are also part of the AMCES network.

Construction work on the neglected and dilapidated dispensary in Kassoula made good progress (34,000 euros). The contribution to the multi-annual agricultural programme with Eclosio amounted to 34,770 euros and activities with CAMFP were resumed (9,818 euros). A total of 20,700 euros was spent this year on the banana project in 24 villages. The Sokounon Farm, a partner of the Foundation, was able to build a solid building for its many trainees at a cost of 18,817 euros. The sum of 28,121 was spent on the anti-malnutrition project, which aims to raise awareness and to search for and treat malnourished children. In the field of education, 4,467 euros was spent on the PFAN project to support girls at school and 12,567 euros on the Summerschool and associated scholarships for young people in Benin.

Finally, the Foundation decided to show solidarity with the entire population of Benin amid the coronary crisis by making a donation of 1,905 euros to the national fund.

The result

Total expenditure amounted to 347,125 euros, which means that the Foundation recorded a loss for 2020 of 15,334 euros, which we will offset with our reserves from previous years. Even after this deduction from the reserves, the Foundation’s capital is more than sufficient to ensure the continuity of the commitments made.