Annual Report 2006
Financial Report 2006
| Ford Foundation, New York |
13 249 808,14 |
| Open Society Institute, New York |
10 154 005,98 |
| Charles Stewart Mott Foundation, Flint, Michigan |
3 174 600,00 |
| Polish Foreign Ministry, Warsaw |
398 990,96 |
| 1% personal income tax donations |
338 060,87 |
| Robert Bosch Stiftung, Stuttgart |
149 537,09 |
| Agora Foundation, Warsaw |
100 000,00 |
| Friends of Batory Foundation, Waszington |
93 480,00 |
| Commercial Union Agora Foundation, Warsaw |
85 000,00 |
| Konrad Adenauer Foundation in Poland, Warsaw |
60 569,64 |
| Institute of International Education, Now York |
59 566,27 |
| Centre for European Policy Studies (CEPS), Brussels |
49 638,04 |
| Nestle Poland, Warsaw |
30 000,00 |
| Embassy of the United States, Warsaw |
15 050,00 |
| ZNAK Publishing Office, Cracow |
10 000,00 |
| Individual donors from Poland |
7 415,45 |
| Damage fines adjudged by the courts in favor of the Foundation |
5 100,00 |
| Centre for Liberal Strategies, Sofia |
4 137,90 |
| Warta Insurance Company, Warsaw |
1 500,00 |
| Polityka weekly, Warsaw |
965,09 |
| Antalis Poland, Warsaw |
830,09 |
| Bank Handlowy, Warsaw |
273,83 |
| Grants returned |
241 769,16 |
| Total (PLN) |
28 230 298,51 |
The exchange rate for the year 2006:
1 USD = PLN 3,1025
1 EUR = PLN 3,8951
Expenditure (in PLN)
| Programs |
16 826 295,86 |
| Information and development |
323 374,16 |
| Administration |
1 998 081,63 |
| Amortization |
890 432,56 |
| Total (PLN) |
20 038 184,21 |
Expenditure according to programs (in PLN)
Domestic Programs
|
| Civil Society Program |
2 970 636,08 |
| Third Sector Program |
3 916 514,84 |
| Equal Opportunities Program |
1 094 919,03 |
| Program for Tolerance |
539 040,00 |
| Legal Education Program |
729 635,07 |
| Anti-Corruption Program |
449 880,69 |
International Programs
|
| International Cooperation Program |
1 591 302,59 |
| Citizens in Action Program |
2 549 153,06 |
| Community Initiatives Partnership Program |
468 876,20 |
| Twin Cities Program |
24 586,45 |
| East-East Program |
1 868 412,47 |
| Regional Drug and Alcohol Program |
623 339,38 |
| Total (PLN) |
16 826 295,86 |
The exchange rate for the year 2006:
1 USD = PLN 3,1025
1 EUR = PLN 3,8951
Expenditure
Expenditure according to programs
Balance Sheet (in PLN)
| ASSETS |
As of |
| 01.01.2006 |
31.12.2006 |
| 1 |
2 |
3 |
4 |
| A |
Fixed assets |
63 573 206,98 |
86 689 065,83 |
| I |
Intangible fixed assets |
0,00 |
7 822,57 |
| II |
Tangible fixed assets |
27 622 616,98 |
26 876 178,26 |
| III |
Long-term receivables |
0,00 |
0,00 |
| IV |
Long -term investments |
35 950 590,00 |
59 805 065,00 |
| B |
Current assets |
71 311 640,58 |
72 865 293,48 |
| II |
Short-term receivables |
839 810,46 |
32 635,49 |
| - other receivables |
8 602,26 |
657,08 |
| - trade debtors |
43 509,93 |
29 840,69 |
| - receivables from employees |
3 313,69 |
1 837,56 |
| - budget receivables |
784 384,58 |
300,16 |
| III |
Short-term investments |
70 421 872,12 |
72 793 482,28 |
| 1 |
Short-term assets |
55 302 485,75 |
56 236 895,27 |
| - equities |
26 310 209,22 |
37 551 766,34 |
| - others |
28 992 276,53 |
18 685 128,93 |
| 2 |
Cash and other monetary assets |
15 119 386,37 |
16 556 587,01 |
| - cash in hand |
13 747,15 |
7 603,08 |
| - current bank account (PLN) |
1 051 372,66 |
723 091,48 |
| - adjunct bank account (PLN) |
43 039,22 |
54 761,68 |
| - current foreign currency account |
1 790 942,27 |
2 989 141,85 |
| - cash in stock brokerage office |
3 448 418,10 |
2 328 269,60 |
| - other cash (bank deposits, treasury bills) |
7 261 300,00 |
8 000 000,00 |
| - other monetary assets |
1 510 566,97 |
2 453 719,32 |
| IV |
Short-term deferred charges |
49 958,00 |
39 175,71 |
| |
BALANCE |
134 884 847,56 |
159 554 359,31 |
| LIABILITIES |
As of |
| 01.01.2006 |
31.12.2006 |
| 5 |
6 |
7 |
8 |
| A |
Enterprise fund |
106 961 963,63 |
133 061 597,37 |
| I |
Statutory capital, including |
69 528 827,21 |
83 220 322,87 |
| - net assets |
3 664 808,52 |
3 562 913,00 |
| - undistributed profit (loss) |
65 748 282,16 |
79 550 487,62 |
| - start-up fund |
115 736,53 |
106 922,25 |
| II |
Fund of long-term investments |
4 139 694,13 |
9 713 593,29 |
| III |
Financial result |
33 293 442,29 |
40 127 681,21 |
| - from previous years |
20 280 047,85 |
19 491 236,83 |
| - from this year |
13 013 394,44 |
20 636 444,38 |
| B |
Liabilities and reserve fund |
27 922 883,93 |
26 492 761,94 |
| I |
Long-term liabilities |
598 825,35 |
64 649,00 |
| II |
Short-term liabilities |
3 351 398,88 |
3 340 859,11 |
| 1 |
Liabilities |
3 308 359,66 |
3 286 097,43 |
| - grant creditors |
2 156 558,40 |
2 823 597,26 |
| - trade creditors |
182 813,63 |
176 470,07 |
| - amounts owned to employees |
106,80 |
1 413,90 |
| - uncollected salaries |
8 758,96 |
59 256,51 |
| - amounts due to the state budget |
144 123,14 |
112 935,87 |
| - social security contributions |
76 071,79 |
81 603,16 |
| - others |
739 926,94 |
30 820,66 |
| 2 |
Company social fund |
43 039,22 |
54 761,68 |
| III |
Deferred income |
23 972 659,70 |
23 087 253,83 |
| - long-term |
23 072 216,11 |
22 212 452,73 |
| - short-term |
900 443,59 |
874 801,10 |
| |
BALANCE |
134 884 847,56 |
159 554 359,31 |
Profit and Loss Account (in PLN)
| Item |
Description |
Amount |
| 2005 |
2006 |
| 1 |
2 |
3 |
4 |
| A |
Income for statutory activities |
20 857 626,78 |
30 044 533,65 |
| 1 |
Income for public benefit activity |
17 633 845,39 |
28 230 298,51 |
| 2 |
Other income defined by statute |
3 223 781,39 |
1 814 235,14 |
| B |
Costs of statutory activities |
16 521 962,94 |
16 826 295,86 |
| C |
Gross profit (loss) on statutory activities A-B |
4 335 663,84 |
13 218 237,79 |
| D |
Foundation office costs |
3 221 023,71 |
3 211 888,35 |
| 1 |
Material and energy consumption |
290 872,10 |
289 628,32 |
| 2 |
Outsourced services |
936 324,51 |
799 454,17 |
| 3 |
Depreciation |
917 448,02 |
890 432,56 |
| 4 |
Salaries and surcharges |
817 978,54 |
855 843,13 |
| 5 |
Other costs |
258 400,54 |
376 530,17 |
| E |
Other income (not recorded in items A and G) |
15 845,63 |
51 971,06 |
| F |
Other costs (not recorded in items B, D and H) |
2 450,93 |
776,34 |
| G |
Financial income |
12 093 462,92 |
11 973 075,64 |
| H |
Financial costs |
208 103,31 |
1 391 741,42 |
| I |
Result C-D+E-F+G-H |
13 013 394,44 |
20 638 878,38 |
| J |
Extraordinary profit (loss) |
0,00 |
0,00 |
| 1 |
Profit |
|
|
| 2 |
Loss |
|
|
| K |
Corporate tax |
0,00 |
2 434,00 |
| |
Net profit (loss) I (+/-J)-K |
13 013 394,44 |
20 636 444,38 |
Opinion of the independent auditor
For the Stefan Batory Foundation's Council
We have audited the accompanying financial statements of Stefan Batory Foundation, seated in Warsaw, Sapieżyńska 10 A („Foundation”), consisting of the introduction to the financial statements, the balance sheet as at 31 December 2006 with total assets and total liabilities and equity of PLN 159.554.359,31; the profit and loss account for the year then ended with a net profit of PLN 20.636.444,38; and the supplementary information and explanations.
The management of the Foundation is responsible for the accuracy of the accounting records and the true and fair presentation of the financial statements prepared in accordance with the accounting standards as set out in the Polish Accounting Act dated 29 September 1994 (Official Journal from 2002, No. 76, item 694 with amendments) and the executive regulations promulgated thereunder and other respective regulations. Said responsibility includes: design, implementation and maintenance of internal controls related to the drafting as well as true and fair presentation of financial statements free of intentional irregularities or errors, selection and application of appropriate accounting principles as well as accounting estimates appropriate to existing circumstances.
Our responsibility is to audit and express an opinion on the true and fair presentation of the financial statements and whether the financial statements are derived from properly maintained accounting records. We conducted our audit in accordance with section 7 of the Polish Accounting Act dated 29 September 1994, the professional standards established by the Polish National Council of Certified Auditors and International Standards on Auditing as promulgated by the International Federation of Accountants.
These regulations require us to proceed ethically and to plan and conduct the audit in a manner so as to attain a reasonable certainty that the financial statements and the underlying accounting records are free of material irregularities.
The audit consists of procedures that aim to cull audit records concerning amounts and information disclosed in the financial statements. Selection of audit procedures depends on our evaluation, including an estimate of the risk of the probability of material irregularities in the financial statements due to intentional acts or errors. In conducting an evaluation of this risk, we take into account the internal controls related to drafting as well as the true and fair presentation of the financial statements for the purpose of planning procedures appropriate to the circumstances, not for the purpose of expressing an opinion on the efficacy of the internal control within the entity. The audit also evaluates the appropriateness of applied accounting principles, justifiability of estimates performed by the Board of Directors as well as an evaluation of the general presentation of the financial statements. In our opinion, the audit records we obtained constitute a sufficient and appropriate basis for us to express an audit opinion.
In our opinion, the financial statements of the Stefan Batory Foundation present fairly, in all material aspects, the financial position of the Foundation as at 31 December 2006 and the results of its operations for the year then ended in accordance with the accounting standards as set out in the Polish Accounting Act dated 29 September 1994, and the executive regulations promulgated thereunder, and are in compliance with the respective laws and regulations, and the provisions of the Foundation's statute that apply to the Foundation's financial statements and have been prepared from properly maintained accounting records.
As required under the Polish Accounting Act dated 29 September 1994 we also report that the Report on the Foundation's activities includes the information required by article 12 of the Act on Foundations dated 6 April 1984 (Official Journal from 1991, No. 46, item 203 with amendments) and the information is consistent with the financial statements.
Certified Auditor No. 90060/74956
Wojciech Stopka
For KPMG Polska Audyt Sp. z o.o.
ul. Chłodna 51, 00-867 Warszawa
Certified Auditor No. 90060/74956
Wojciech Stopka, Member of the Board of Directors
Warsaw, April 4th, 2007
Copyright © Fundacja Batorego
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