Page 1



page 04

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 2011’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

page 30


Year figures

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.

page 42

This document is the English translation this

Other information

The original annual report was drawn up in

annual report.

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

their projects.

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).

Max-wash programs.

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

on schools.

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

Amsterdam Office

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.

Program Aungkur

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,

(phase II)).

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


“Max Foundation

“You kept wondering: how can we help as many

tackles the

children as possible with

problem literally

the modest resources

at the source.“

we have.”

“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.





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

Request record

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

Program guk

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

and launching.

the people or Gaibanda) with guk, helping


3,000 people.

19,320 children’s lives a healthy future In 2011 we have helped 21,490 children* in Bangladesh to a healthy future, meaning

Partner Aungkur

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

Organisation Bangladesh

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

institutional donors.

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

Organisation Netherlands

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

organisations Bangladesh

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:


from setbacks

Steven Le Poole

Femke Markus

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 ’04

since February ‘12

grow as an organisation. For 2011 finding new local partners

Joke Le Poole

Nathalie Besseling

The measur-ability of our approach is important not only

(programs Bangladesh),

(till 1-4-‘11)

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

Henriette Berger

ences between our local partners. Standardizing Monitoring

(till 1-2-‘12)

& Evaluation, at all local partners, has been substantially

(finance/fundraising), since ’09

276 villages

€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/

Martijn Thierry

communication), since ’10

(till 1-2-’12)

Advisory Board: Huib Morelisse

Prof. Lucas Meijs

CEO, Nuon Energy NV

Professor of Strategic Philanthropy, Erasmus


Direct fundraising





Indirect fundraising





Total fundraising





Helped villages





Board report, page 22



Founder War Child


300 villages provided with water wells, latrines and education

Elinor Driesen -Rottinghuis

Willemijn Verloop

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 euro’s)

Statement of income and expenditure (in euro’s) INCOME




Other accounts receivable, prepayments and accrued income (1)



Liquid assets (2)



2011 Realised

2011 Budget

Income from own fundraising Endowments and gifts (7)


Other (8)



671,406 Total assets


2010 Realised



498,426 Income from actions third parties (9)

LIABILITIES Capital Reserves (3) Continuity reserve


Allocation reserve


Allocation fund




Oxfam Novib


Wilde Ganzen










Other income (10)




Total income




Long term debts Allocated subsidies (4)



Allocated subsidies (5)



Other debts and accrued liabilities (6)



Total liabilities



Current liabilities

Year figures, page 32


Expenditures Spent on objectives

2011 Realised

Wash projects (11)


2011 Budget

725,000 284,973

2010 Realised

589,734 725,000


Costs income

Costs own fundraising (12)




Costs management/admin.










Reimbursed by third parties Reimbursed by board Exchange rate differences


Total expenditures


Cash flow statement

52 725,000










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





Result allocation

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

Accounting policies

Continuity reserve

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

continuity reserve.

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

Allocation reserve

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

and expenditure.

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

Continuity reserve

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 ₏ 37,475. The reserve guarantees the foundation’s continuity.

Year figures, page 36


Notes to the statement of

Allocation reserve

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

Allocation Fund

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

Allocated subsidies



Aungkur School



Aungkur wash









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


Aungkur School






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.

wash projects.



Private individuals


















10. Other benefits 2011


Interest bank



Costs bank







Aungkur wash


slopb wash






Year figures, page 38

6. Other debts, post payments and accrued liabilities

8. Other benefits from own fundraising




Deferred endowments



Charity event









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 foundation’s goal. In Q1 the remaining

2011 costs fundraising

2010 management/admin.

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)

36,106 17,384

Aungkur - schoolsanitation (2010-2012) 29,882

esdo ( 2012)


guk (2012)


slopb (2010)


space (2011)


159,168 264,437

bds (2011)

Partnermeeting Bangladesh




Office supplies






Subtotal by board




Trip Bangladesh







Subtotal by third parties











78,168 51,917



Trip Bangladesh


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.

Auditor’s responsibility

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: In the name of Max Foundation, Amsterdam.


Chamber of commerce: 34219433 ANBI code: 814054110

Annual Report 2011 Max Foundation  

Annual Report Max Foundation 2011