Financial Report 2002
Income (in PLN)
| Open Society Institute, New York, Budapest |
26 666 530,50 |
| Ford Foundation, New York |
12 424 500,00 |
| Robert Bosch Stiftung, Stuttgart |
558 977,16 |
| Charles Stewart Mott Foundation, Flint, Michigan |
438 395,50 |
| Freedom House – PAUCI Program, Washington |
203 680,00 |
| Commercial Union Poland Ltd., Warsaw |
200 000,00 |
| Rockefeller Brothers Fund, New York |
199 315,00 |
| European Foundation Center, Brussels |
123 721,82 |
| American Express Foundation, New York |
101 323,75 |
| German Marshall Memorial Fund of the United States, Washington |
45 300,99 |
| World Bank, Warsaw |
40 267,00 |
| Royal Netherlands Embassy, MATRA Small Grants Program, Warsaw |
36 721,89 |
| Bertelsmann Stiftung, Gütersloh |
30 486,78 |
| National Endowment for Democracy, Washington |
26 214,16 |
| United Nations Development Program, Warsaw |
20 150,00 |
| Embassy of the United States of America, Warsaw |
12 906,00 |
| Ford Foundation Consultant Office, Warsaw |
7 063,59 |
| Polish-American Freedom Foundation, Warsaw |
6 760,48 |
| Institute of International Education, New York |
6 180,35 |
| Institut für die Wissenschaften vom Menschen, Vienna |
6 106,01 |
| Organisation for Security and Cooperation in Europe, Warsaw |
4 378,89 |
| East-West Management Institute, New York |
4 111,75 |
| EastWest Institute, New York |
3 904,86 |
| Koerber Stiftung, Hamburg |
3 875,49 |
| PLS Ramboll Management, Copenhagen |
3 599,80 |
| Trustees of Boston University, Boston |
2 604,48 |
| Big Brothers Big Sisters International, Philadelphia |
1 854,09 |
| Bond Regents Wharf, London |
1 844,06 |
| International Council of Museums, Berlin |
1 493,77 |
| Beata Burakowska-Szczygielska, Warsaw |
1 000,00 |
| Wojciech Miechowicz, Warsaw |
400,00 |
| Simon-Dubnow Institute, Leipzig |
757,65 |
| Wexler Marketing Group Inc, Alexandria, Virginia |
396,73 |
| Other revenues (including proceeds from office rent and revenue for depreciation) |
3 978 213,09 |
| Total (PLN) |
45 163 035,64 |
| Other revenues and interest income |
2 659 198,33 |
Expenditures (in PLN)
| Programs |
23 728 131,65 |
| Administration |
3 548 137,12 |
| Depreciation |
909 535,86 |
| Total (PLN) |
28 185 804,63 |
| Other costs, foreign exchange losses and income tax |
132 149,43 |
Expenditures according to programs (in PLN)
| Civil Society Program |
4 405 092,75 |
| Legal Education Program |
1 575 335,44 |
| Anti-Corruption Program |
541 649,48 |
| Women's Program |
1 188 589,68 |
| Youth Program |
1 546 702,36 |
| Children's Support Program |
2 200 590,08 |
| Cultural Program |
3 026 732,27 |
| Arts and Culture Network Program |
407 939,13 |
| Publishing Program |
1 547 609,96 |
| Academic Scholarships |
1 144 383,26 |
| International Program |
2 467 769,72 |
| East-East Program |
1 120 943,90 |
| Twin Cities Program |
534 844,81 |
| Commission on Alcohol and Drug Education |
982 141,49 |
| Medicine and Health Care |
762 191,19 |
| Commercial Union Charity Fund |
31 820,00 |
| Other |
243 796,13 |
| Total (PLN) |
23 728 131,65 |
Profit and Loss Account (in PLN)
| Item |
Description |
Amount |
| 2001 |
2002 |
| 1 |
2 |
3 |
4 |
| A |
Income for statutory activity |
33 534 064,29 |
45 163 035,64 |
| B |
Costs of statutory activities |
28 204 115,84 |
23 728 131,65 |
| C |
Gross profit (loss) on statutory activities |
5 329 948,45 |
21 434 903,99 |
| D |
Foundation office costs |
5 045 423,31 |
4 457 672,98 |
| 1 |
Material and energy consumption |
452 226,36 |
360 552,42 |
| 2 |
Outsourced services |
1 169 153,45 |
972 805,89 |
| 3 |
Depreciation |
945 878,81 |
909 535,86 |
| 4 |
Salaries and supercharges |
1 449 667,12 |
1 490 362,39 |
| 5 |
Other costs |
1 028 497,57 |
724 416,42 |
| E |
Other income (not recorded in items A and G) |
353 739,69 |
103 820,42 |
| F |
Other costs (not recorded in items B, D and H) |
1 660,58 |
1 841,75 |
| G |
Financial income |
2 659 045,23 |
2 555 377,91 |
| H |
Financial costs |
38 935,64 |
118 828,68 |
| I |
Result C-D+E-F+G-H |
3 256 713,84 |
19 515 758,91 |
| J |
Extraordinary profit (loss) |
|
|
| 1 |
Profit |
0,00 |
0,00 |
| 2 |
Loss |
0,00 |
0,00 |
| K |
Corporate tax |
12 130,00 |
11 479,00 |
|
2002 Net profit (loss) I(+/-J)-K |
3 244 583,84 |
19 504 279,91 |
Balance Sheet
| Assets |
As of |
| 01.01.2002 |
31.12.2002 |
| 1 |
2 |
3 |
4 |
| A |
Fixed assets |
31 868 666,59 |
54 866 326,75 |
| I |
Intangible fixed assets |
21 276,54 |
2 738,43 |
| II |
Tangible fixed assets |
31 678 319,75 |
30 635 658,32 |
| III |
Long-term receivables |
169 070,30 |
109 930,00 |
| IV |
Long term investments |
0,00 |
24 118 000,00 |
| B |
Current assets |
22 215 251,07 |
20 109 464,83 |
| I |
Short-term receivables |
100 677,62 |
128 558,78 |
|
- other receivables |
0,00 |
60 874,22 |
|
- trade debtors |
86 728,25 |
56 582,74 |
|
- receivables from employees |
6 394,83 |
1 598,85 |
|
- budget receivables |
7 554,54 |
9 502,97 |
| II |
Short-term investments |
22 051 430,19 |
19 931 219,07 |
| 1 |
Short-term assets |
831 420,34 |
127 682,28 |
|
- equities |
700 000,00 |
0,00 |
|
- others |
131 420,34 |
127 682,28 |
| 2 |
Cash and other monetary assets |
21 220 009,85 |
19 803 536,79 |
|
- cash in hand |
12 180,20 |
58 351,33 |
|
- current bank account (PLN) |
101 412,16 |
994 415,95 |
|
- adjunct bank account (PLN) |
81 405,63 |
17 040,40 |
|
- current foreign currency account |
215 996,55 |
1 586 495,26 |
|
- bank account - rental deposit (PLN) |
573 798,77 |
0,00 |
|
- cash in stock brokerage office |
10 000,00 |
13 930,26 |
|
- other cash (bank deposits, treasury bills) |
20 225 216,54 |
16 462 526,79 |
|
- other monetary assets |
0,00 |
670 776,80 |
| III |
Short-term deferred charges |
63 143,26 |
49 686,98 |
|
BALANCE |
54 083 917,66 |
74 975 791,58 |
Balance Sheet
| Liabilities |
As of |
| 01.01.2002 |
31.12.2002 |
| 5 |
6 |
7 |
8 |
| A |
Enterprise fund |
22 960 491,77 |
43 170 060,98 |
| I |
Statutory capital |
15 887 970,67 |
20 851 388,99 |
|
including: |
|
|
|
- net assets |
4 268 205,64 |
4 076 974,03 |
|
- undistributed profit (loss |
11 486 881,66 |
16 646 732,68 |
|
- start-up fund |
131 420,34 |
127 682,28 |
|
- intangible fixed assets |
1 463,03 |
0,00 |
| II |
Fund of long-term investments |
0,00 |
901 722,00 |
| III |
Financial result |
7 072 521,10 |
21 416 949,99 |
|
- from previous years |
3 827 937,26 |
1 912 670,08 |
|
- from this year |
3 244 583,84 |
19 504 279,91 |
| B |
Liabilities and reserve fund |
31 123 425,89 |
31 805 730,60 |
| I |
Long-term liabilities |
536 965,55 |
612 138,61 |
| II |
Short-term liabilities |
2 907 153,25 |
4 565 899,92 |
| 1 |
Liabilities |
2 874 376,36 |
4 549 926,40 |
|
- grant creditors |
2 160 856,86 |
3 435 988,68 |
|
- trade creditors |
161 904,33 |
248 678,28 |
|
- amounts owned to employees |
4 753,24 |
768,36 |
|
- uncollected salaries |
182 538,90 |
621 634,87 |
|
- amounts due to the state budget |
195 564,68 |
168 023,14 |
|
- social security contributions |
168 758,35 |
73 910,36 |
|
- others |
0,00 |
922,71 |
| 2 |
Company social fund |
32 776,89 |
15 973,52 |
| III |
Deferred income |
27 679 307,09 |
26 627 692,07 |
|
- long-term |
27 467 600,41 |
26 561 422,72 |
|
- short-term |
211 706,68 |
66 269,35 |
|
BALANCE |
54 083 917,66 |
74 975 791,58 |
Opinion of the Independent Auditor
We have audited the accompanying financial statements of the Stefan Batory Foundation, seated in Warsaw, consisting of the introduction to the financial statements, the balance sheet as at 31 December 2002 with total assets and total liabilities and equity of PLN 74,975,791.58; the profit and loss account for the year then ended with a net profit of PLN 19,504,279.91; and the supplementary information and explanations.
These financial statements are the responsibility of the management of the Foundation. Our responsibility is to audit and express an opinion on the financial statements and whether the financial statements are derived from properly maintained accounting records.
We conducted our audit in accordance with International Standards on Auditing as promulgated by the International Federation of Accountants, section 7 of the Polish Accounting Act dated 29 September 1994 (Revised Text, Official Journal from 2002, No. 76, item 694), the Minister of Finance’s decree on the specific accounting principles for certain entities which do not operate based on Commercial Code regulations and are not involved in business activities dated 15 November 2001 (Official Journal no. 137, item 1539), Act on Foundations dated 6 April 1984 (Official Journal no.21, item 97 with subsequent amendments) and the professional standards established by the Polish National Council of Certified Auditors. These standards require that we plan and perform the audit to obtain a reasonable basis for expressing an opinion on the financial statements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management of the Foundation, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements of the Stefan Batory Foundation have been prepared from properly maintained accounting records and present fairly, in all material aspects, the financial position of the Foundation as at 31 December 2002 and the results of its operations in accordance with the accounting standards applied in Poland as set out in the Polish Accounting Act dated 29 September 1994 and the Minister of Finance’s decree on the specific accounting principles for certain entities which do not operate based on Commercial Code regulations and are not involved in business activities dated 15 November 2001, and are in compliance with the respective laws, regulations and the provisions of the Foundation’s statute that apply to the Foundation’s financial statements.
Signed on the Polish original
/podpis/
Certified Auditor No. 90027/2766
Zofia Pop³awska,
Member of the Board of Directors
Signed on the Polish original
/podpis/
For KPMG Polska Audyt Sp. z o.o.
ul. Ch³odna 51, 00-867 Warsaw
Certified Auditor No. 90027/2766
Zofia Pop³awska,
Member of the Board of Directors
/podpis/
For KPMG Polska Audyt Sp. z o.o.
ul. Ch³odna 51, 00-867 Warsaw
Robert Novakowski, Director
Warsaw, 14 March 2003
Copyright © Fundacja Batorego
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