The Annual Report 2011 was composed
with help of many volunteers: Editing
In 2011 we were challenged in many ways to grow.
page 06 Max Foundation A private initiative aiming to give a healthy future to as many children as possible.
Marlien Scheffer Design Martijn de Heer, i.s.m. NoSuchCompany Photography Bestuursleden Max Foundation 17 maart: Mick Ellerbeck, Pieter Jansen (Kiwi fotografie), Martine Miedema Financial control and approval KPMG Printing
page 10 Looking back at 2011 2011â€™s highlight was the celebration of the 1000th village supported with wash.
page 18 Board Report Between February 2011 and April 2012 we approved Max-wash program proposals for 1,162 villages.
Platform P, Rotterdam Translation
page 24 Message from
We asked our partner organisation space to start a pilot with our new monitoring & evaluation tool.
64% of all revenues were generated from corporate donors.
Jan Erik Rottinghuis
the Dutch language.
This document is the English translation this
The original annual report was drawn up in
Report statement of kpmg In case of discrepancies between the English and the Dutch text, the Dutch text will prevail.
Foreword 2011 was a year of many developments for Max Foundation. Not only did we change the name and corporate identity from ‘Stichting Max’ to ‘Max Foundation’; we also celebrated a milestone in Royal company, and were challenged to grow in many different directions: in the number of local partners, in programs and supported villages, in funding, in media attention and in the number of programs almost ready to approve. It was a turbulent year in which we
This healthy future for children, that’s what
redefined our growth strategy and chose
our work is all about. We like to conclude
to further structure and professionalize our
this foreword with a heartfelt ‘thank you’
organisation. This is necessary to scale our
to everyone who has supported us in 2011.
approach whilst keeping authenticity and
Thanks to you we helped no fewer than
vigour. Vigour needed to ensure that no
19,320 children in 276 villages in Bangla-
more children die from lack of clean drink-
desh* in this year! That’s what it’s all about!
ing water, sanitation and education; that these children get a healthy future.
On behalf of the board of Max Foundation Joke en Steven Le Poole
Foreword, page 4
* Average of 70 children per village.
Meanwhile this private initiative has grown into a foundation run by many volunteers, developing rapidly to a professional organisation.
Max Foundation was founded by Steven and Joke Le Poole following the death of their son Max in 2004. Max was eight months old when he died of a viral infection. Joke and Steven created the foundation to let something positive stem from his loss and set out to combat something as terrible as child mortality. Meanwhile, this private initiative has become a foundation run by many volunteers, now rapidly developing into a professional organisation.
impact on child mortality, especially in a
Our Max-wash approach
country like Bangladesh. This is one of the
We finance small-scale wash programs implemented by
world’s poorest countries. It belongs to
selected local partner organisations in the poorest and most
In our approach we are always looking for “Max value
the world’s countries with the highest child
remote areas of rural Bangladesh, where child mortality is
for money”. We do this by continuously measure,
mortality, partly due to the high population
highest. Our programs are always ‘community managed’,
benchmark and improve our working methods and that
density, and 30 million people still live
meaning that the local population actively participates in the
of our partners. Our approach is business orientated and
without water and sanitation. These factors,
focused on the measurable output of our partners and
What makes us different? 1. We think in return
together with the favourable geological conditions for placing water pumps (soft
Hygiene education: The most important component of wash
ground), gave us enough reason in 2005
is hygiene education. According to the who child mortality
to start with our own wash projects in this
is thus reduced by 45%. In a new Max Foundation project
Private donors can help the villagers for 350 euros to
area we therefore always start with providing information to
fund a well. Donors receive a photo of their well, with
villagers (in schools and on village squares) on the importance
a sign with their name on it. A tangible and direct way
of (personal) hygiene. A separate Max-wash education activity
to help. We also use a measurement system based on
is training local midwives, the tba’s (Traditional Birth Attend-
gps that we and our partner organisations use to give
ants). In addition to education about pregnancy, childbirth and
feedback on the outcome of a Max-wash project.
2. Direct feedback
mother and child health, they are equipped with kits contain-
Our mission To prevent child mortality in the most effective and efficient way.
Our vision Studies by the World Health Organisation
ing basic resources to guide the delivery in a hygienic manner.
3. No deduction of overhead 100% of private donations go to our projects in
Water wells: Once aware of the importance of hygiene,
Bangladesh. Overhead costs (0 up to 2011, slowly
villagers collect money and signatures to help finance the well
starting in 2012) are sponsored by funds and companies.
(usually 50-100 of the 450 euro). A maintenance committee is appointed and the preparations for the drilling of the well. Drilling the well is carried out by local contractors.
Our ambition From the start we have helped approximately 91,490
(who) and United Nations have shown that half of all infant mortality is (partly) caused
Latrines: Latrines are a crucial improvement compared to
children with our wash programs. Until the end of 2016
by water related diseases such as diarrhoea.
defecating in the open field. Most latrines are purchased by
we intend to help 350,000 children* with our
Every year 1.8 million children under five
families themselves (approximately 10 euros per family).
die of this, that’s one in every 17 seconds.
These latrines ensure that a local factory nearby can be started
Clean Water, Sanitation and Hygiene educa-
for the delivery of the required material. The poorest families
Meanwhile, this private initiative has become a foundation
tion (wash) addresses child mortality in the
receive financial support. Because schools play an important
run by many volunteers, and this is now rapidly developing
most effective and sustainable manner.
factor in the realization of children that clean toilets and
into a professional organisation.
wash projects can be rolled out in a simple,
hygiene prevent diseases, we also finance latrine buildings
cheap and quick way. They have a huge
Max Foindation, page 8
* nearly 5,000 villages, with an average of 70 children per village.
The highlight was the celebration of the 1000th village supported with wash. Below is a chronological overview of the highlights of 2011.
New local partner organisations and
Insead Business Case
‘Stichting Max’ Foundation becomes Max Foundation
guk and esdo
Martijn Thierry wrote a case about social
On March 1 2011, we launched our new name, corporate
On 1 April Bouwmaat responded immedi-
After an intensive process of selections
entrepreneurship for Business School insead
identity and website. The typical children’s hand with bright
ately to our call for office space and offered
and field visits, we could add local ngos’s
in Fontainebleau (Fr.). Max Foundation
colours is well received, many people responded very posi-
us a beautiful floor in her building at the
guk and esdo add to our ‘Max-family’, as
serves in this case as a good example of
tively. Not only in the Netherlands, but also in Bangladesh
Gyroscoopweg (Sloterdijk, Amsterdam).
our local partners like to call it. guk (Gana
‘business innovation’. He wrote the case
the partners are eagerly painting and printing the new logo
Since then a team operates a several days
Unnayan Kendra) is especially active in the
study in collaboration with Prof. Luk van
on our well signs.
per week from this location.
north and was started by a passionate man
Wassenhove, who founded the insead Social
who himself grew up in one of the poorest
Innovation Center. Martijn, who already had
Royal attendance at celebration 1000th village
Slopb-project with Simavi
areas of Bangladesh. esdo (Eco-Social
travelled several times to Bangladesh with
In March we celebrated the milestone of helping 1,000
Start of a three-year project (Sustainable
Development Organisation) focuses on the
us, became actively involved in improving
Bengal villages (200,000 people) with drinking water, sani-
Development Health & WatSan Project to
integrated approach of wash in combination
our monitoring & evaluation.
tation and education. It was a celebration of royal stature:
Coastal Areas of Bangladesh) of our partner
with other poverty programs in north-west-
hrh the Prince of Orange was present at the celebration as
organisation slopb together with Simavi.
ern Bangladesh. esdo directly started with a
chairman of the un Advisory Board on Water and Sanitation
two year project for sustainable sanitation.
(unsgab), taking the 1,000th well symbolically into use.
A panel discussion followed on the role small initiatives
Aungkur receives our approval for a three
can play in development aid, led by journalist Twan Huys.
year sanitation program helping 73,000
At the table were: 1. Director General for International
people (Community Focused Integrated
Cooperation Andre Haspels, 2. Boudewijn Poelmann,
Water Supply and Sanitation Program
founder of National Postcode Lottery, 3. Hans Spruijt,
Chief Water & Environmental Sanitation unicef Bangladesh, 4. Professor Luk van Wassenhove, insead professor and 5. Gertie Eikenaar of sca (Edet, Libresse, recently started an Oxfam campaign on sanitation in Africa). Afterwards, many guests had a chat with hrh. Press attended in large numbers, leading to great publicity on TV, radio and in various national newspapers.
Looking back on 2011, page 12
“You kept wondering: how can we help as many
children as possible with
the modest resources
at the source.“
“There’s nothing wrong with thinking in return of investment. On the contrary, emotion
“I really appreciate your way of working: together with the local population, practical and efficient.”
and common sense make excellent partners.”
Looking back on 2011, page 14
The complete speech of hrh the Prince of Orange can be found online. maxfoundation.nl
Start of the ‘business approachers’ team
Proposal National Postcode Lottery with
On field visit with the Dutch Embassy
Our organisation also grew fast in terms of
Cordaid ‘Mensen in Nood’ (people in Need)
In November, a team travelled together
volunteers. Many volunteers helped with
‘Cordaid Mensen in Nood’ invited us to
with wash experts from the Dutch embassy
projects such as Walking for Water and the
compose a joint proposal for the National
in Bangladesh to a project of partner organi-
1,000 villages’ event in March. A whole
Postcode Lottery (npl) of 1,2 million euro
sation Aungkur. We gave Martin Bos who
new team of business approachers kicked
for a combined program in Bangladesh
had just been appointed as first secretary
off in May. This group of business people
called ‘#waterduppels’ (#water drops).
of the water sector at the embassy a good
looks for funding opportunities within their
Cordaid provides a disaster prevention
impression of our approach and projects at
business networks. This resulted in 2011 a
program in the region of Bauphal, where we
few great results, including contact with
roll out our wash program. At the time of
writing this proposal just has been granted by the National lottery so we’re ready to get
Field Visit to the north of Bangladesh
In May at the beginning of the rainy season, we visited the north of Bangladesh. A whole new area for us with quite different chal-
lenges than in the south where we operate
We close 2011 with a record volume (worth over 2 million) of high quality project applications which gives us a good foundation
from the beginning. We also held our annual
for further growth in the coming years. By
partner meeting in Dhaka to meet and share
Start of a 15 month project (Facilitating
May 2012 many proposals were approved
experiences on sustainability in wash.
the Changes and Sanitation Behaviour of
the people or Gaibanda) with guk, helping
19,320 children’s lives a healthy future In 2011 we have helped 21,490 children* in Bangladesh to a healthy future, meaning
that we helped 276 villages** to clean
Start of a two-year school sanitation project
drinking water, sanitation and hygiene
(School Sanitation and Hygiene Education)
In 2011 many special initiatives of donors to help us took place. Below are some highlighted: Our loyal sponsor Bouwmaat organized
Wecycle, a national organisation that deals
another successful ‘building trip’ to
with the collection of small household
Bangladesh with their own staff to build
electrical appliances in primary schools.
a latrine building at a secondary school.
Each device provides a point that the school can redeem online for school
The staff of sponsor Crucell visited
materials, but also can donate to ‘water
Bangladesh twice in 2011. From various
stations’ of Max Foundation. This initiative
countries people travelled to Dhaka to
generated 40,000 euros!
visit a number of project areas. Both trips were successful and Crucell will continue
Rabobank Private Equity and a team of
to organise these trips in the future.
ihc Merwede ran the 10-mile annual Damto-Dam race again for Max Foundation.
The sponsored walk “Walking on Water”
The Max Foundation board kept the team
was a big event in 2011. More than 800
company and ran along. It was a nice event
school kids from the eldest two grades
with a wonderful result of 21,000 euros.
of primary school were sponsored to walk of 6 kilometres with 6 litres of water in
In June, a successful Dragon Boat Race
a backpack. The proceeds of this great
was organized by the Rotary IJburg Amster-
initiative were 32,000 euro, which was
dam on the IJ river. Anyone could register a
supplemented by the Wilde Ganzen
team to participate in rowing. The weather
Foundation to the great amount of 50,000
was great and the proceeds equally. In
euros, for the school sanitation project of
2012 the event will take place again.
our partner Aungkur.
with Aungkur, focusing on 19 schools.
Looking back on 2011, page 16
*average of 70 kids per village **approximately 61,400 villagers
Between February 2011 and April 2012 we approved Max-wash program proposals for 1,662 villages.
2011 was another exceptional year. Our total support increased by over 25% to € 703.037. This has helped us to approve Max-wash partner programs for as many as 1,662 villages between February ‘11 and April ’12.
in in growing numbers. Interestingly – and
Monitoring & evaluation
hopeful in these times – is the increased
At the same time was standardizing and expanding our
share of income from businesses, more
monitoring & evaluation a topic on the agenda. The
than 60%. We are strongly convinced that
measurability of our results is vital to be able to link back to
businesses really are willing to cooperate in
our donors, but also to the partners. All local partners are
development, provided that the formula is
working to ensure a uniform measurement system so we
business like and measurable.
can make good comparisons and better manage costs. We also receive all well sign pictures with gps data, so you can
End of 2010 we reached the oft-cited milestone: 1,000 villages = 70,000 children helped villages to wash. That called for a celebration and we felt none better suited than hrh the Prince of Orange as chairman of unsgab, the un advisory body for water and sanitation, to attend. Like no other he can endorse the importance of the integrated approach to water and sanitation. We booked – ardently desired, but unex-
Thanks to the attention that we received
see exactly in which areas we operate.
from celebrating the 1,000th village, we were challenged to compose a strategic plan for
Expansion of partner
Foreign Affairs and the National Postcode Lottery. Ambitious as we are we are going for maximum growth, but which growth scenario is realistic and achievable, especially with the current organisation? What got us here won’t get us there: It’s time for change.
time consuming; from many week nights to full office days. Where some – most individual donors – see it as a plus that no salary or expenses are withdrawn from the donations, on the other hand for others – mostly institutional partiers- it disqualifies us as amateurs. The latter – who consider multiyear donations – seek security about the sustainability of
pected – success: the Prince accepted our
invitation! It was a memorable day, thanks
At the time of writing this report, we
to secure sustainability by reimbursing expenses to some
to the efforts of many. A great opportunity
appointed a country director in Bangladesh,
extent and the employing of paid staff, both sponsored by
to put the many volunteers who work with
Imam Mahmud Riad. He was selected from
us in the limelight.
86 candidates and will collaborate closely
Growth and change But there was more: we changed our name and corporate identity and we kicked off heavily in social media, such as Facebook
with our local partners. This allows us to
Private donations will continuously be used for a 100% for
manage the strong growth in number of
projects in Bangladesh. We’d like to thank board members
projects and partners. We will still join him
Nathalie Besseling (till 1 March 2011) and Jasper Vet,
on his field trips a regular basis!
Henriette Berger and Martijn Thierry, who left the board
An important task which we had set our goal for 2011 was to find additional partner organisations. This required much time, but we selected two great partners: guk and esdo. From selecting a partner to approving a project took more time than anticipated which led to a delay with the delivery of well sign pictures to donors. Some donors had to wait almost a year before receiving the photo of their well project. Very annoying, so we’re working extra hard to make the waiting time shorter.
per 1 February 2012 for their many years of commitment as
and Twitter. We had the opportunity to
present our case for a large conference at
Alongside we have to manage growth in our
the business school insead in Fontaineb-
own organisation here in the Netherlands.
leau. The number of wash applications of
This is partly realized by standardizing, but
our partners doubled and donations came
the work load grows and becomes more
Board report, page 20
the organisation (even after seven years). In 2012 we want
board members. Femke Markus has joined the board as per February 1 and focuses on monitoring & evaluation of our programs in Bangladesh.
What can we learn
The board of Max Foundation:
Steven Le Poole
When it comes to goals, we do not only have on the number
(Monitoring & Evaluation),
of villages and children we helped in mind, but also how to
since February ‘12
grow as an organisation. For 2011 finding new local partners
Joke Le Poole
The measur-ability of our approach is important not only
as feedback to link to our donors, but also to learn and
Although income rose 25% higher than 2010, it ended 6% under the ‘11 budget. Therefore we will lower our growth ambition for 2012 to 20%. In practice it took far more time and effort to reach good proposals with new partners, so we will start selecting larger partners with more capacity and growth potential. Developing the right co-operation model with our partners has been time consuming. Our new country director will coop with this far more efficiently. Again it was a special year. Thanks to your support we helped many children to have
since ’04 Joris van Liebergen
ences between our local partners. Standardizing Monitoring
& Evaluation, at all local partners, has been substantially
(finance/fundraising), since ’09
€750.000 raised with funding (direct + indirect)
815,000 euro, 25% more than 2010
Select 3 extra local partners (from 6 to 9)
Guk, esdo, space (end ’10)
Table Goals for 2012
Raise our proactive role in partner affairs (knowledge sharing, standardisation)
€ 725,000 funding
Celebrate milestone 1000 villages, raising publicity for wash
Celebration with hrh the Prince of Orange, ivip panel members and 250 guests, a lot of publicity
Kick-off local Max Foundation office Bangladesh
Further structuring/professionalization volunteer-organisation NL
Further professionalization Dutch organisation
Implementation online monitoring system with gps-localised well images
Further develop Monitoring & evaluation tool
More proactive communication via social media.
implemented. Our online tool that will give easy access to Jasper Vet
all data, is not ready yet, but scheduled for 2012.
(till 1-2-’12) (fundraising/
communication), since ’10
Advisory Board: Huib Morelisse
Prof. Lucas Meijs
CEO, Nuon Energy NV
Professor of Strategic Philanthropy, Erasmus
Board report, page 22
Founder War Child
300 villages provided with water wells, latrines and education
Elinor Driesen -Rottinghuis
Our ambition for 2011
improve. It also provides us with good insight in the differ-
annual report 2010
and developing monitoring & evaluation were prioritised.
a healthy future. And that is what really
Key figures 20082011* (eur ‘000)
Goals as mentioned in the
500 villages provided with Max-wash
We asked our partner organisation space to start a pilot with our new monitoring & evaluation tool. A tool developed to enhance measurement of our Max-wash programs.
Azahar Ali Pramanik Md, (1958) started
We asked space to start a pilot with our
his career at a renowned national wash
new monitoring & evaluation tool. A tool
organisation in Bangladesh. In the following
developed to enhance measurement of our
18 years he implemented various wash
Max-wash programs. Not only to improve
programs in hard to reach and difficult areas
our approach, but also to give transparent
in his country. Obtaining long experience and
feedback to our donors. After the pilot, which
learning in the wash sector, he founded space
ran from February ’11 to January ’12, we asked
to apply a different approach to wash. He im-
Azahar to write down his experiences.
plemented innovative and low cost water and sanitation supplies. Over a period of 7 years space has developed to a unique and successful organisation with 72 staff members.
Azahar: “In 2011 we implemented the monitoring & evaluation (m&e) tool 29 villages and 6 schools in the Lama Upazila area in purpose to effectively monitor and evaluate wash program of mf’s partners in Bangladesh. Main objectives of m&e mechanism are to establish clear relationship between donor funding and activities performed utilizing funds; changes in knowledge and behaviour among people and resulting changes in child mortality in partner’s project areas of Max Foundation in Bangladesh. We developed a geographical map during the baseline survey indicating work locations, village-wise existing wells including source of installation, demographic information, tba (traditional birth attendants), child birth and mortality, maternal mortality, sanitary latrines coverage, school wash situations, medical facilities etc. All these information were coordinated to gps.
Message from Bangladesh, page 26
Later on, the map was inserted into Google with the technical cooperation of the Max Foundation, transferring gps coordinated data related to installation and sponsoring the funds that shows changed wash situations. Space initiated child birth registration and maintained cluster based records. space managed collecting data on monthly basis mothers which were facilitated by Community Facilitators. Utilizing m&e approach, space could easily measure impact of interventions related to wash and tba services among target people on mother and child health. At the end of the piloting phase, we measured that 80% of the villagers could share 3 to 5 Max-wash and safe motherhood messages and the school students could even share 5 to 7 wash messages. 100% people in selected areas have access to safe water and hygienic latrines, although the level of hygiene practice is still poor. About 90% of the trained tba’s are active in rendering safe deliveries and providing natal care. Consequently, child sickness and mortality rate in the project villages decreased from 7% to 1%. At the start of the project 92% of the children faced illnesses, which decreased to 21% after intervention. Space selected five control paras (approx. 200 households) where similar support is not (yet) provided to measure the difference. In these control villages the situation remains the same as it was before. Space thinks the m&e approach introduced by Max Foundation is comprehensive and efficient enough for measuring impact of activities and the level of financial usage. As the m&e approach has contributed much in measuring the performance of activities, financial status and benefits of people, it is important for sustainability of project outcomes and useful to the other partners and Max Foundation as well.
A report from the field Since the installation of water wells and sanitary latrines in the village of Kathalchora, water borne diseases reduced significantly and school attendance is rising every day.
Acknowledging this grave situation, space
is increasing day by day. The villagers are happy to have
installed 3 Infiltration Galleries, out of
these essential services and facilities at their door steps.
which 2 at Community level and 1 at nearby
Ms. Basanti Rani Tripura, a woman of 38 years, shared her
school funded by Max Foundation. space
satisfaction with smiling face “We never imagined for such
also facilitated in 100% sanitation cover-
facilities at our own village. We are free now from anxiety
age with improved low-cost latrines in the
of diseases and of fetching water from a long distance
village, which have contributed in safe
crossing the hilly paths. We – especially the women and
water and sanitation solution among the
girls – feel now secured socially, physically and mentally as
poor villagers. The villagers have shared 5%
we have all facilities at our convenience. We pray to God all
cost sharing for water options and 50% for
betterment of the agency that funded and helped us in our
low-cost latrines. Besides cost sharing, they
Kathalchora is located in a hilly area in Lama
involved in physically carrying materials,
Bandarban district, in the south eastern
supporting and entertaining foods to the
part of Bangladesh. The village inhabits 65
masons during installation of water options.
families, 330 people, including 47 children
Now, they have access to water at their
between 0-5 years old and 70 children
doorsteps, do not need for fetching water
between 5-14 years old. Out of the total
from longer distance and do not need for
families 61 are extremely poor: they live
going out in the bush or open places for
on daily manual labour in seasonal Jum
cultivation and remain unemployed during non-cultivation period (raining season).
All households are found neat and clean
Their daily income is too low to obtain their
and they practice hygiene in their personal
daily food. Sometimes, they starve during
and family life. As the consequence of safe
unemployment. Until recently they had to
water, sanitation and improved hygiene
drink and use unsafe water collected from
practices, they are experiencing better and
canals, streams and other surface sources.
healthy living; waterborne diseases are
The use of this unsafe water caused water-
dramatically reducing among children. The
borne diseases and malnutrition, especially
Health Supervisor of space regularly meets
with children and women. Many children
the women to learn about their improved
could not regularly attend school due to
and safe motherhood aspects. Trained and
sickness. The pregnant women did not get
skilled tba’s (traditional Birth Attendants)
regular safe motherhood services.
are counselling them regularly, pregnant women and their family are mostly aware of safe motherhood. School enrolment
Message from Bangladesh, page 28
64% of all revenues were generated from corporate donors.
Balance sheet 31 December after result (in euroâ€™s)
Statement of income and expenditure (in euroâ€™s) INCOME
Other accounts receivable, prepayments and accrued income (1)
Liquid assets (2)
Income from own fundraising Endowments and gifts (7)
671,406 Total assets
498,426 Income from actions third parties (9)
LIABILITIES Capital Reserves (3) Continuity reserve
Other income (10)
Long term debts Allocated subsidies (4)
Allocated subsidies (5)
Other debts and accrued liabilities (6)
Year figures, page 32
Expenditures Spent on objectives
Wash projects (11)
Costs own fundraising (12)
Reimbursed by third parties Reimbursed by board Exchange rate differences
Cash flow statement
Mutation long term debts
Mutation liquid assets
Size of liquid assets 1 January
Size of liquid assets 31 December
Mutation liquid assets
Cash flow from management Mutation claims Mutation current debts
Released/added to allocation to reserves and funds (3)
Year figures, page 34
Notes to the statement of income and expenditure
Notes to the balance sheet
Reserves and funds
The incomes and expenditures are allocated
To guarantee continuity of the foundation
to the year in which it was received. Contri-
Prepayments and accrued income
2. Liquid Assets
in unexpected situations for at least one
butions of third parties to projects are
Prepayments and accrued income have duration of less
All liquid assets are freely available for the Foundation. The
year, a part of the assets is allocated to a
assumed in the year it is received.
than two years.
balance of liquid assets is kept in order to meet the already
Accounting principles The annual figures concern of Max Foundation registered in Amsterdam. The annual report has been compiled according to the requirements of the Dutch Guideline Fundraising institutions rj 650 (Richtlijn Fondsenwervende
Interest paid in advance
Donations to be received
All expenses on objective that are menWhen financial results are disappointing
tioned in the state of income and
the reserve creates a one-years-time to
expenditure regard the allocated funds to
regenerate income. It also covers all
Max-wash projects in the financial year.
committed projects Max Foundation has
The costs for fundraising concern only
signed with local partners, including support
those costs that are incurred by the board
from the Netherlands.
in the financial year on behalf of the
number of intended commitments for 2011 took place in Q1 2012, which explains why end 2011 the liquid assets exceed the allocated subsidies.
Foundation. This amount does not include
Instellingen rj 650). Unless stated otherwise assets and liabilities are presented at face value. Income and expenditures are allocated to the period of time to which it relates.
allocated subsidies and funds with a specific purpose. A 31/12/2011
any costs for products/services that have
The allocation reserve comprises of all
been provided by third parties to the
assets, donated without a specific alloca-
Foundation. 3. Allocation fund, continuity reserve and allocation reserve
tion. These assets will be used for future projects, related to the foundation.
Paid liabilities in foreign currency are 2011 ContinuĂŻteit reserve
converted at the exchange rate on transacAllocation fund
tion date. Resulting exchange differences
Assets are designated to the allocation fund
are accounted in the statement of income
when third parties have provided a specific
allocation to these assets.
2011 Bestemming reserve
Size as of 1 January
2011 Bestemming fonds
2010 Continuiteit reserve
2010 Bestemmings reserve
2010 Bestemming fonds
Transfer from result
Size as of 31 December
Allocated subsidies All subsidies that still need to be realised by the accounting date are subdivided in current (to be realised within a year after the accounting date) and long term liabilities. Liabilities in a foreign currency
are converted using the conversion rate
Considering the strong growth of the foundation and the associated growing number of obligations, the continuity reserve has been set
of 31 December.
on â‚Ź 37,475. The reserve guarantees the foundationâ€™s continuity.
Year figures, page 36
Notes to the statement of
5. Current liabilities - Allocated subsidies
As per 31 December the reserve amounts â‚Ź 123,000.
This regards the amount of allocated, not yet realised subsidies by the end of the year, which are expected to be
completed within one year after the accounting date. These
This fund will be applied for Max-wash projects in the
amounts can be specified as follows:
This regards the amount of allocated but not yet realised subsidies for projects over multiple years. The amount for
projects over multiple years that will be allocated within one year is included under allocated subsidies under current liabilities. The allocated subsidies for the long term, which have duration of at the very most three years, can be specified as follows: Allocated subsidies
This regards duplication of endowments from private individuals by third parties. Wilde Ganzen has provided premiums of 35% on endowments of private individuals.
7. Endowments and gifts
coming years. 4. Long term debts - Allocated subsidies
income and expenditure
9. Benefits from actions third parties
All received endowments have been made available for the
All amounts have been made available for specific Max-
implementation of Max-wash projects.
10. Other benefits 2011
Year figures, page 38
6. Other debts, post payments and accrued liabilities
8. Other benefits from own fundraising
11. Spent on Max-WASH projects
12. Costs own fundraising
In 2011 Max Foundation has allocated support to partners 2011 Costs management/ admin.
for the realisation of projects. A total of 40% of all benefits was spent to the foundationâ€™s goal. In Q1 the remaining
2011 costs fundraising
2010 costs fundraising
60% was spent, by long-term subsidies. All projects focus on wash, unless mentioned otherwise.
2011 Aloshikha (2010/2011) Aungkur (2011-2013)
Aungkur - schoolsanitation (2010-2012) 29,882
esdo ( 2012)
Subtotal by board
Subtotal by third parties
The incurred costs have been reimbursed completely by the
13. Transactions with connected parties
board of the Foundation or by products/services/contribu-
Unlike the compensation of incurred costs and
tions of third parties. As a result all obtained funds can be
endowments by the board and sponsors of the
spent on Max-wash projects and the share of costs for own
foundation, no transactions exist with connected parties.
fundraising expressed as percentage of the funds raised through own fundraising (conform cbf-norm) is 0%*. The foundation has no employees. All activities are being done by volunteers. Neither the board nor the volunteers receive salary and/or expense allowance, the Foundation is professional but is unpaid.
Year figures, page 40
* Considering costs, Max Foundation so far has not applied for a CBF-mark.
Independent auditor’s report To: the Board of Max foundation Report on the financial statements We have audited the accompanying financial statements 2011 of Max foundation, Amsterdam, which comprise the balance sheet as at 31 December 2011 and the statement of income and expenses for the year then ended and the notes comprising a summary of the accounting policies and other explanatory information.
The board’s responsibility
audit. We conducted our audit in accord-
ance with Dutch law, including the Dutch
In our opinion, the financial statements give a true and fair
Standards on Auditing. This requires that we
view of the financial position of Max foundation as at 31
comply with ethical requirements and plan
December 2011, and of its result for the year then ended
and perform the audit to obtain reasonable
in accordance with guideline 650 ‘Charity organisations’ of
assurance about whether the financial state-
the Dutch Accounting Standards Board.
ments 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
The board of the Max Foundation is
control relevant to the entity’s preparation
responsible for the preparation and fair
and fair presentation of the financial state-
presentation of the financial statements
ments in order to design audit procedures
and for the preparation of annual report,
that are appropriate in the circumstances,
both in accordance with guideline 650
but not for the purpose of expressing an
‘Charity organisations’ of the Dutch
opinion on the effectiveness of the entity’s
Accounting Standards Board. Furthermore,
internal control. An audit also includes
the board is responsible for such internal
evaluating the appropriateness of account-
control as it determines necessary to enable
ing policies used and the reasonableness
the preparation of the financial statements
of accounting estimates made by the board,
that are free from material misstatement,
as well as evaluating the overall presentation
whether due to fraud or error.
of the financial statements.
We believe that the audit evidence we have
Our responsibility is to express an opinion on these financial statements based on our
Auditors’ report, page 42
Report on annual report We have no deficiencies to report as a result of our examination whether the annual report, to the extent we can assess, has been prepared in accordance with Guideline 650 ‘Charity organisations’ of the Dutch Accounting Standards Board. Further, we report that the management board report, to the extent we can assess, is consistent with the financial statements. Amstelveen, 9 August 2012 KPMG Accountants N.V. N.R. Tambach RA
obtained is sufficient and appropriate to provide a basis for our audit opinion.
Max Foundation Gyroscoopweg 142 1 hg 1042 AZ Amsterdam The Netherlands
Bank account: 50.51.07.333 In the name of Max Foundation, Amsterdam.
IBAN: NL36ABNA0505107333 BIC (SWIFT): ABNANL2A
Chamber of commerce: 34219433 ANBI code: 814054110