FINANCIALS 2022

This is the third year that the Black Jaguar Foundation is presenting consolidated financial statements. The Dutch and Brazilian entities administer their finances separately, but because we are a single integrated Foundation, we have decided to present our finances as such.

In 2022, the Black Jaguar Foundation managed the finances of the Dutch organization in-house, but towards the end of the year we started to count on the great support of Alsberg Accountants & Adviseurs. Thank you Claudia Brant and Paul Rijnbeek for joining us in this mission.

The Brazilian organization’s finances were managed by our longstanding partner, Pró Result. They have supported us since the initiation of our Brazilian entity in 2016, know our Foundation well and fully support our mission. The experience of João Bosco and his team provided us with the necessary support for our financial team. Many thanks to them.

To ensure we are fully in compliance with all the rules and regulations and to provide additional reassurance to our existing and future partners, auditors at Baker Tilly, a global top 10 auditing firm, reviewed our Dutch, Brazilian and consolidated Financials before publication.

13.1.1. ACTIVITIES

The goal of the Black Jaguar Foundation, with registered offices in Amsterdam, Netherlands and São Paulo, Brazil, is to make a tangible contribution to the realisation of the Araguaia Biodiversity Corridor. The Dutch entity is a non-profit organisation registered at the Chamber of Commerce in Amsterdam; registration number 34327956. The Brazilian entity is registered in the Cadastro Federal with CNPJ 24.230.587/0001-93.

13.1.2 ANBI

As per 2009 the Foundation was identified by the Dutch Tax Authority as an ‘Algemeen Nut Beogende Instelling’ (ANBI) - a Public Benefit Organization. All donations are deductible from the taxable income of donors as long as the Foundation maintains its ANBI status.

13.1.3 REMUNERATION OF OUR BOARD MEMBERS

None of our Board Members, Advisory Board Members or Ambassadors receives financial compensation for their efforts to support to Black Jaguar Foundation, supporting us with their time, connections and wisdom. We are very thankful for their generous contributions.

13.1.4 GENERAL ACCOUNTING PRINCIPLES

The financial statements have been prepared on the past cost agreement. Assets and liabilities are presented at nominal value minus any necessary provisions.

13.1.4.1. TANGIBLE FIXED ASSETS

Tangible fixed assets are prepared at acquisition cost, minus depreciation and if applicable, impairments in value. Depreciation is based on the estimated useful life and is calculated as a fixed percentage of cost, taking into account any residual value.

13.1.4.2 CASH AND CASH EQUIVALENTS

Cash and cash equivalents are presented at nominal value. If cash is not freely available, this is taken into account in the valuation.

13.1.4.3 CURRENT LIABILITIES

Current liabilities are stated at fair value.

13.1.4.4 ACCOUNTING PRINCIPLES FOR DETERMINING THE RESULT

Income from donations and grants are only recognised when the amounts are received.

13.1.4.5 CURRENCY

The annual accounts are presented in Euros, which is the functional currency of the organisation. Accounting for the Brazilian entity was performed in Brazilian Real. All transactions for 2022 were translated into Euros based on the average conversion rate for the year. The Balance Sheet items were converted based on the rate on 31/12/2022. Previous years’ Income Statement and Balance Sheet items for the Brazilian entity were converted based on the rate of 31/12/2021 and 31/12/2020, respectively.

* Intercompany income and intercompany expenses cancel each other out in the combined statement.

Amounts stated in thousands of Euros

13.3 BALANCE SHEET

Amounts stated in thousands of Euros