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HOW THIS HAPPENED? ............................................................................................... 4

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PLANNED VS EXECUTED ........................................................................................ 5

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PLANNED VS EXECUTED ........................................................................................ 6

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LOCAL ENTITIES ACCOUNTS ................................................................................. 7

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HEY AIESEC!

To all Network of AIESEC Guatemala, it was a pleasure from me to be the National

Director of Finances and Legality of AIESEC Guatemala during Term 2014-2015. A year

with a lot of challenges, but also with a lot of purpose and satisfaction of watching a

network now only grow, but also making an impact in Guatemala’s society and

Guatemalan youth.

More that Finances of an Organization, is the sustainability that this one can have to

escalate through generations, and continue giving impact were a country needs and

deserves better leaders. More than Legality, is how to represent and Back up all

stakeholder involved to have the best experience. Every number has a story, so I invite

you to read this report with lots of stories behind that can help us measure our impact.

The road to success is endless and the MCEB Border Breaker only started a travel of

Purpose and Fearless Actions to make AIESEC Guatemala bigger and better, but in

order to accomplish this, we strive and invite that each and every member and

stakeholder involved give the best version of themselves every day.

Remember to be always One in our Purpose, and Fearless in Our Actions!

A Border Breaker, a Guatemalan AIESECer by heart.

Sincerely yours,

Gabriela Alvarez Luna

MCVP Finance and Legal

MCEB Border Breaker

AIESEC Guatemala 14.15

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At June 30th 2014, MCEB 14.15 receives a Debt with the amount of $15.485,13, and no

reserves to operate during 14.15 Term. To see the list of debt, see link: http://bit.ly/Debt13-14

With this Financial Situation, MCEB 14.15 decides to work on June 10th 2014, 20 days

before their term starts, due to early leaving of whole MCEB 13.14 of their roles, with the

exception of the MCP 13.14, Raul Armenta, causing the operations of the Whole National

Executive Board of AIESEC Guatemala stop. Even though MCEB 14.15 starts operations on June

10th 2014, they don’t receive a salary until July 15th 2014, due financial situation and

understanding that the official start of the Term was on July 1st 2014.

It was until September 30th 2014, that AIESEC Guatemala accomplished to pay any external

debt they had and acquired , including external debts with AIESEC International.

Profit and Loss Statement AIESEC Guatemala 2014-2015

From July 1st 2014 to June 30th 2015

Currency in USD$

INCOME

% of I

Operating Income

Ingresos oGCDP Fee (Apply)

$19,510.63 26.8%

Ingresos oGIP Fee (Apply)

$4,741.00 6.5%

Ingresos oGIP Fee (MA)

$2,241.00 3.1%

Ingresos iGCDP - Trainee Fee (RE)

$50.00 0.1%

Ingresos IGIP Fee (Apply)

$6,950.00 9.5%

Ingresos IGIP Fee (MA)

$5,350.00 7.3%

Ingresos IGIP Innovation (MA)

$600.00 0.8%

Ingresos Margen Administrativo (AD)

$28,580.85 39.2%

Total Operating Income (OI)

$68,023.48 93.4%

Non-Operating Income

CXC

$4,798.75 6.6%

Total Non-Operating Income

$4,798.75 6.6%

Total INCOME

$72,822.23 100.0%

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EXPENSES

% of OE

Operating Expenses

OGX

$1,079.36 1.7%

IGIP + AD

$1,173.26 1.8%

IGCDP

$67.50 0.1%

Total Operating Expenses

$2,320.12 3.6%

Non-Recurring Expenses

TM + OD

$5,351.28 8.4%

Finance and Legal

$4,626.26 7.3%

MCP

$1,073.09 1.7%

Fixed Costs

$50,220.37 79.0%

Total Non-Recurring Expenses

$61,271.00 96.4%

Total EXPENSES

$63,591.12 100.0%

PROFIT Net Income Before Taxes

$9,231.11

Income Tax Expense ISR 5%

$0.00

NET INCOME

$9,231.11

(+) National Reserves in USD$ Account

$3,283.87

To receive 15.16 Term

$12,514.98 [42]

During MCEB Term 14.15, AIESEC Guatemala builds its financial Model based in Operations.

Leaving Reserves of $12,514.98. The MCEB Financial Reserves goal was $15,000.00,

making 83% of the Goal accomplished.

HOW THIS HAPPENED? For the financial sustainability, the following activities

were crucial:

Aligment National and Local Goals to create the

national Budget and Monthly tracking of this

Budget.

Financial Model based on Operations.

Icrease in the value of the programs and

diversifications of Programs.

Daily track of incomes and expenses to capitalize

areas of opportunity and efficiency in processes.

Corner Synergies with Back Office.

$-

$10.000,00

$20.000,00

$30.000,00

$40.000,00

$50.000,00

$60.000,00

$70.000,00

$80.000,00

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27%

6%

3% 0% 10%

7% 1%

39%

7%

oGCDP Fee (Apply)

oGIP Fee (Apply)

oGIP Fee (MA)

iGCDP - Trainee Fee(RE)

IGIP Fee (Apply)

IGIP Fee (MA)

IGIP Innov (MA)

Admin Margin (AD)

CXC

PLANNED VS EXECUTED We received incomes from the following programs/areas:

For incomes details, link to Cash Flow of AIESEC Guatemala:

http://bit.ly/CashFlowGuatemala2015

Incomes goals was reached in a 84% from what was projected. The projection was made from

Exchange Goal plus pricing MCEB receives and a risk implemented were not all incomes will

effectively enter due discounts. The biggest GAP is found in the OGCDP Financial Goal.

Our focus programs IGIP and OGCDP made 84% of the overall Income for the Term

2014-2015. The program that gives the most incomes is IGIP, giving 57% of overall incomes

during the Term.

INCOMES Planned Delivered

oGCDP Fee (Apply) $33.600,00 $19.510,63

oGIP Fee (Apply) $ 4.820,00 $ 4.741,00

oGIP Fee (MA) $ 2.310,00 $ 2.241,00

iGCDP - Trainee Fee

(RE)

$ 1.890,00 $ 50,00

IGIP Fee (Apply) $ 8.400,00 $ 6.950,00

IGIP Fee (MA) $ 5.600,00 $ 5.350,00

IGIP Innov (MA) $ 1.920,00 $ 600,00

Admin Margin (AD) $22.700,00 $28.580,85

CXC $ 4.950,00 $ 4.798,75

TOTAL $86.190,00 $72.822,23

OGCDP OGIP IGCDP IGIP+AD IGIP

Innovation CXC

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2% 2% 8%

0% 7%

2%

79%

OGX+MKT

IGIP + AD

TM + OD

IGCDP

Finance and Legal

MCP

Fixed Costs

PLANNED VS EXECUTED

The expenses were executed 82% according to planned in the National Budget. Out

of fixed costs, AIESEC Guatemala main investments are for Conferences, Rewards and

Recognitions and Finance&Legal Management, such as payments of debts to Local Entities

acquired from 13.14 Term.

79% of expenses are Fixed Costs, were its majority it for the Basics that AIESEC Guatemala

need to operate such as the National Office, Telephone, MC Flat and Salaries. The rest of fixed

costs are divided in in External, for our External Bodies such as SAT Accounter and Lawyer, and

International Partnerships that are Payments to AIESEC in Latinamerica, Payments to AIESEC

International and Representation of MCP on International Conferences.

To see the Last AIESEC Guatemala Budget, approved by General Assembly on Jan 31st 2015,

see link: http://bit.ly/BugetAIESECGT2015-1

EXPENSES Planned Delivered

OGX+MKT $ 2.130,00 $ 1.079,36

IGIP + AD $ 1.491,00 $ 1.173,26

TM + OD $ 7.088,02 $ 5.351,28 IGCDP $ 45,00 $ 67,50

Finance and

Legal $ 9.405,00 $ 4.626,26

MCP $ 4.320,00 $ 1.073,09

Fixed Costs $ 53.095,00 $ 50.220,37 HR in the MC $ 38.209,00 $ 36.472,89

External $ 7.970,00 $ 7.394,52 International

Partnerships $ 6.466,00 $ 6.755,45

TOTAL $ 77.574,02 $ 63.591,12

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$-200,00

$-

$200,00

$400,00

$600,00

$800,00

$1.000,00

$1.200,00

$1.400,00

$1.600,00

UFM USAC URL UVG Galileo

5%

7%

11%

7%

6%

64%

Income generated on 14.15 Term

UFM

USAC

URL

UVG

Galileo

MCEB

LOCAL ENTITIES ACCOUNTS

MCEB generated 64% of overall income of AIESEC Guatemala during 14.15 Term. It is

important to mention that from the $46.769,73 incomes that MCEB generated,

$41.480,85 were generated from the IGIP Program (88% of overall incomes that

comes from MCEB). The rest are CXC or OGX Sales at National Level.

All incomes form Local Entities are only from OGCDP and/or OGIP. The Local Entity

that generated the most income for AIESEC Guatemala during 14.15 Term was AIESEC

URL with 10% of overall incomes (most of them from July to December 2014). AIESEC

UFM is the Local Entity that generated the less income with only 5% of overall income.

Local Entitys that Close with Financial Debt on 14.15 Term: AIESEC USAC.

From July 1st 2014 to June 30th, 2015.

All in USD$

Local Entity Started Finished Status

UFM $ 775,00 $ 803,89 Profit

USAC $ 1.542,00 -$ 29,99 Loss

URL $ 2.560,01 $ 1.477,63 Profit

UVG $ - $ - SU

Galileo $ 100,00 $ - SU

TOTAL $ 4.977,01 $ 2.251,53

Entity INCOME

GENERATED

UFM $ 3.920,00

USAC $ 5.300,00

URL $ 7.570,00

UVG $ 5.075,00

Galileo $ 4.187,50

MCEB $ 46.769,73

TOTAL INCOME $ 72.822,23

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Activity Status

Ensure AIESEC Guatemala is a Full Member Entity at Global Level - Documentation for FM

Migration Issues for Trainees - Creation of Reception Booklet and List of Requirements to get

proper visa. Application of Visa Status

Legal Representation at Gobernación Guatemala - Legal Representation on SAT, Gobernación, Migración and Banco Industrial

Pricing Evaluation - Change of pricing of all programs and Legislation

Accounting - Creation of Donation Receipts for USD Account

Empowerment. NST Roles for F&L and Audit. Delegation of Account Management at Local Level

OGX + F&L Synergy. Creation of Contact Policies, contracts review and enforcement, Support at Close Selling, Creation of Price Chart to sell whole package on Exchanges

Audit at Local Level Implementation and Audit Culture at National Level

Accountability MC2LC and LC2MC. Changes at Compendium and Membership Criteria.

Accountability Culture

BOVP F&L Transition 2014 to 2015. Support and Transition to all VPes F&L for 2015 Term.

Migration Process for ICX - Wix creation for Trainee Reception

Deals and CXC Control. Creation of Deals in Corner with IGIP

Finance Coaching + LEAD for VPs F&L

Finance and Education Cycle Creation and Implementation. F&L Summit

Audience with Migration Affairs to create better Migration processes

Accountability Culture - Implementation of Monthly Reports in all areas

Approval of National Semester Bugdet. One in August 2014 and one in January 2015

SAT Responsibilities - Anual Tributary Declaration on Feb 2015

Financial, Legal and Gubernamental Transition to New MCVP F&L

Financial Close of Term 14.15

National Reserves Development

AIESEC Guatemala has Fiscal Solvency up to date, last one extended on May 29th 2015. This

Document is extended Monthly. See: http://bit.ly/SolvenciasFiscalesAIESECGT1

Planned results come from MC EB Plan based on entities plan For the evaluation: Green = 100% | Yellow > 60% | Red < 60% | Blue when plan is zero or non-evaluated.

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