Financial Report Main trends It is with heartfelt gratitude that we reflect on the 2020 financial results. Like no other year, not only our beneficiaries but also our constituency was affected by a worldwide health-crisis with a big economic impact. Despite this open-end crisis our constituency gave generously. Their donations - combined with contributions from institutional donors - enabled ZOA to accomplish more. We are grateful we were able to reach the most vulnerable people in the most dangerous places. Helping those in need demands a lot from our employees - both in the countries where we operate and at our headquarters in the Netherlands. We laud their accomplishments. Together we make a lasting impact in the lives of those affected by conflicts and natural disasters.
INCOME GENERATED FROM ZOA'S OWN FUNDRAISING ACTIVITIES AND THIRD-PARTY CAMPAIGNS
Actual 2020
Budget 2020
Actual 2019
5,583,583
6,357,200
5,611,834
42%
54%
47%
For reconstruction
4,872,976
3,847,000
4,532,320
For emergency campaigns
2,931,295
1,665,800
1,758,708
7,804,271
5,512,800
6,291,028
58%
46%
53%
13,387,853
11,870,000
11,902,862
Unearmarked
Earmarked
We are committed to responsibly spending funds on quality projects that have a lasting impact and for which income has been secured. There is, therefore, an unavoidable delay between the date income is received and the date of actual expenditure. Consequently, income received never equals expenditures on projects.
Net result The profit and loss account shows a negative result of € 2.2 million. Of this amount, € 1.1 million relates to expenditures in 2020 from programme funds received in previous years. Furthermore, € 1.5 million was withdrawn from specific earmarked reserves. On balance, we were able to make an addition to the general reserve of € 0.4 million, partly as a result of the implementation of cost savings.
Country portfolio Income from Dutch constituency Income from our constituency in 2020 was 12,5% higher than last year. Despite the corona crisis, more was given and the budget was more than met. We feel blessed with the large contributions of € 13.4 million from our constituency.
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ZOA A N N UA L R E P O RT 2 0 2 0
Project expenses in programme countries were in line with the budget (€ 54.6 million budgeted versus € 55.3 million realized on projects in 2020). Alongside the income from the Dutch constituency, income from institutional donors also increased. Due to the growth of institutional funding, the demand for pre-financing is growing as well. Strict financial management is required to manage the necessary growth in reserves.
