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Annual Report Max Foundation 2011
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1
page 04Foreword
In 2011 we were challenged in many ways to grow.
page 10Looking back at 2011
2011’s highlight was the celebration of the 1000th village supported with wash.
page 42Other information
Report statement of kpmg
page 18Board Report
Between February 2011 and April 2012 we approved Max-wash program proposals for 1,162 villages.
page 30Year figures
64% of all revenues were genera-ted from corporate donors.
page 24Message from
Bangladesh
We asked our partner organisa-tion space to start a pilot with our new monitoring & evaluation tool.
page 06Max Foundation
A private initiative aiming to give a healthy future to as many children as possible.
Colophon
The Annual Report 2011 was composed
with help of many volunteers:
Editing
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
Platform P, Rotterdam
Translation
Jan Erik Rottinghuis
The original annual report was drawn up in
the Dutch language.
This document is the English translation this
annual report.
In case of discrepancies between the English
and the Dutch text, the Dutch text will prevail.
3
* Average of 70 children per village.
Foreword2011 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 chal-
lenged 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
redefined our growth strategy and chose
to further structure and professionalize our
organisation. This is necessary to scale our
approach whilst keeping authenticity and
vigour. Vigour needed to ensure that no
more children die from lack of clean drink-
ing water, sanitation and education; that
these children get a healthy future.
This healthy future for children, that’s what
our work is all about. We like to conclude
this foreword with a heartfelt ‘thank you’
to everyone who has supported us in 2011.
Thanks to you we helped no fewer than
19,320 children in 276 villages in Bangla-
desh* in this year! That’s what it’s all about!
On behalf of the board of Max Foundation
Joke en Steven Le Poole
05Foreword, page 4
Meanwhile this private initiative
has grown into a foundation run by
many volunteers, developing rapidly
to a professional organisation.
7
* nearly 5,000 villages, with an average of 70 children
per village.
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 some-
thing 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.
Our missionTo prevent child mortality in the most
effective and efficient way.
Our visionStudies by the World Health Organisation
(who) and United Nations have shown that
half of all infant mortality is (partly) caused
by water related diseases such as diarrhoea.
Every year 1.8 million children under five
die of this, that’s one in every 17 seconds.
Clean Water, Sanitation and Hygiene educa-
tion (wash) addresses child mortality in the
most effective and sustainable manner.
wash projects can be rolled out in a simple,
cheap and quick way. They have a huge
impact on child mortality, especially in a
country like Bangladesh. This is one of the
world’s poorest countries. It belongs to
the world’s countries with the highest child
mortality, partly due to the high population
density, and 30 million people still live
without water and sanitation. These factors,
together with the favourable geological
conditions for placing water pumps (soft
ground), gave us enough reason in 2005
to start with our own wash projects in this
country.
Our Max-wash approachWe finance small-scale wash programs implemented by
selected local partner organisations in the poorest and most
remote areas of rural Bangladesh, where child mortality is
highest. Our programs are always ‘community managed’,
meaning that the local population actively participates in the
program.
Hygiene education: The most important component of wash
is hygiene education. According to the who child mortality
is thus reduced by 45%. In a new Max Foundation project
area we therefore always start with providing information to
villagers (in schools and on village squares) on the importance
of (personal) hygiene. A separate Max-wash education activity
is training local midwives, the tba’s (Traditional Birth Attend-
ants). In addition to education about pregnancy, childbirth and
mother and child health, they are equipped with kits contain-
ing basic resources to guide the delivery in a hygienic manner.
Water wells: Once aware of the importance of hygiene,
villagers collect money and signatures to help finance the well
(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.
Latrines: Latrines are a crucial improvement compared to
defecating in the open field. Most latrines are purchased by
families themselves (approximately 10 euros per family).
These latrines ensure that a local factory nearby can be started
for the delivery of the required material. The poorest families
receive financial support. Because schools play an important
factor in the realization of children that clean toilets and
hygiene prevent diseases, we also finance latrine buildings
on schools.
What makes us different?1. We think in return
In our approach we are always looking for “Max value
for money”. We do this by continuously measure,
benchmark and improve our working methods and that
of our partners. Our approach is business orientated and
focused on the measurable output of our partners and
their projects.
2. Direct feedback
Private donors can help the villagers for 350 euros to
fund a well. Donors receive a photo of their well, with
a sign with their name on it. A tangible and direct way
to help. We also use a measurement system based on
gps that we and our partner organisations use to give
feedback on the outcome of a Max-wash project.
3. No deduction of overhead
100% of private donations go to our projects in
Bangladesh. Overhead costs (0 up to 2011, slowly
starting in 2012) are sponsored by funds and companies.
Our ambitionFrom the start we have helped approximately 91,490
children with our wash programs. Until the end of 2016
we intend to help 350,000 children* with our
Max-wash programs.
Meanwhile, this private initiative has become a foundation
run by many volunteers, and this is now rapidly developing
into a professional organisation.
09Max Foindation, page 8
The highlight was the celebration
of the 1000th village supported with
wash.
Below is a chronological overview
of the highlights of 2011.
11
January New local partner organisations and
guk and esdo
After an intensive process of selections
and field visits, we could add local ngos’s
guk and esdo add to our ‘Max-family’, as
our local partners like to call it. guk (Gana
Unnayan Kendra) is especially active in the
north and was started by a passionate man
who himself grew up in one of the poorest
areas of Bangladesh. esdo (Eco-Social
Development Organisation) focuses on the
integrated approach of wash in combination
with other poverty programs in north-west-
ern Bangladesh. esdo directly started with a
two year project for sustainable sanitation.
Program Aungkur
Aungkur receives our approval for a three
year sanitation program helping 73,000
people (Community Focused Integrated
Water Supply and Sanitation Program
(phase II)).
FebruaryInsead Business Case
Martijn Thierry wrote a case about social
entrepreneurship for Business School insead
in Fontainebleau (Fr.). Max Foundation
serves in this case as a good example of
‘business innovation’. He wrote the case
study in collaboration with Prof. Luk van
Wassenhove, who founded the insead Social
Innovation Center. Martijn, who already had
travelled several times to Bangladesh with
us, became actively involved in improving
our monitoring & evaluation.
March‘Stichting Max’ Foundation becomes Max Foundation
On March 1 2011, we launched our new name, corporate
identity and website. The typical children’s hand with bright
colours is well received, many people responded very posi-
tively. Not only in the Netherlands, but also in Bangladesh
the partners are eagerly painting and printing the new logo
on our well signs.
Royal attendance at celebration 1000th village
In March we celebrated the milestone of helping 1,000
Bengal villages (200,000 people) with drinking water, sani-
tation and education. It was a celebration of royal stature:
hrh the Prince of Orange was present at the celebration as
chairman of the un Advisory Board on Water and Sanitation
(unsgab), taking the 1,000th well symbolically into use.
A panel discussion followed on the role small initiatives
can play in development aid, led by journalist Twan Huys.
At the table were: 1. Director General for International
Cooperation Andre Haspels, 2. Boudewijn Poelmann,
founder of National Postcode Lottery, 3. Hans Spruijt,
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.
AprilAmsterdam Office
On 1 April Bouwmaat responded immedi-
ately to our call for office space and offered
us a beautiful floor in her building at the
Gyroscoopweg (Sloterdijk, Amsterdam).
Since then a team operates a several days
per week from this location.
Slopb-project with Simavi
Start of a three-year project (Sustainable
Development Health & WatSan Project to
Coastal Areas of Bangladesh) of our partner
organisation slopb together with Simavi.
13Looking back on 2011, page 12
“Max Foundation
tackles the
problem literally
at the source.“
“You kept wondering:
how can we help as many
children as possible with
the modest resources
we have.”
“I really appreciate
your way of working:
together with the
local population, prac-
tical and efficient.”
The complete speech of hrh the Prince of Orange can be found online. maxfoundation.nl
“There’s nothing
wrong with thinking
in return of invest-
ment. On the
contrary, emotion
and common sense
make excellent
partners.”
15Looking back on 2011, page 14
*average of 70 kids per village
**approximately 61,400 villagers
MayStart of the ‘business approachers’ team
Our organisation also grew fast in terms of
volunteers. Many volunteers helped with
projects such as Walking for Water and the
1,000 villages’ event in March. A whole
new team of business approachers kicked
off in May. This group of business people
looks for funding opportunities within their
business networks. This resulted in 2011 a
few great results, including contact with
Haskoning.
Field Visit to the north of Bangladesh
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
from the beginning. We also held our annual
partner meeting in Dhaka to meet and share
experiences on sustainability in wash.
JunePartner Aungkur
Start of a two-year school sanitation project
(School Sanitation and Hygiene Education)
with Aungkur, focusing on 19 schools.
AugustProposal National Postcode Lottery with
Cordaid ‘Mensen in Nood’ (people in Need)
‘Cordaid Mensen in Nood’ invited us to
compose a joint proposal for the National
Postcode Lottery (npl) of 1,2 million euro
for a combined program in Bangladesh
called ‘#waterduppels’ (#water drops).
Cordaid provides a disaster prevention
program in the region of Bauphal, where we
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
started!
October Program guk
Start of a 15 month project (Facilitating
the Changes and Sanitation Behaviour of
the people or Gaibanda) with guk, helping
3,000 people.
NovemberOn field visit with the Dutch Embassy
In November, a team travelled together
with wash experts from the Dutch embassy
in Bangladesh to a project of partner organi-
sation Aungkur. We gave Martin Bos who
had just been appointed as first secretary
of the water sector at the embassy a good
impression of our approach and projects at
Aungkur.
DecemberRequest record
We close 2011 with a record volume (worth
over 2 million) of high quality project ap-
plications which gives us a good foundation
for further growth in the coming years. By
May 2012 many proposals were approved
and launching.
19,320 children’s lives a healthy future
In 2011 we have helped 21,490 children*
in Bangladesh to a healthy future, meaning
that we helped 276 villages** to clean
drinking water, 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
another successful ‘building trip’ to
Bangladesh with their own staff to build
a latrine building at a secondary school.
The staff of sponsor Crucell visited
Bangladesh twice in 2011. From various
countries people travelled to Dhaka to
visit a number of project areas. Both trips
were successful and Crucell will continue
to organise these trips in the future.
The sponsored walk “Walking on Water”
was a big event in 2011. More than 800
school kids from the eldest two grades
of primary school were sponsored to walk
of 6 kilometres with 6 litres of water in
a backpack. The proceeds of this great
initiative were 32,000 euro, which was
supplemented by the Wilde Ganzen
Foundation to the great amount of 50,000
euros, for the school sanitation project of
our partner Aungkur.
Wecycle, a national organisation that deals
with the collection of small household
electrical appliances in primary schools.
Each device provides a point that the
school can redeem online for school
materials, but also can donate to ‘water
stations’ of Max Foundation. This initiative
generated 40,000 euros!
Rabobank Private Equity and a team of
ihc Merwede ran the 10-mile annual Dam-
to-Dam race again for Max Foundation.
The Max Foundation board kept the team
company and ran along. It was a nice event
with a wonderful result of 21,000 euros.
In June, a successful Dragon Boat Race
was organized by the Rotary IJburg Amster-
dam on the IJ river. Anyone could register a
team to participate in rowing. The weather
was great and the proceeds equally. In
2012 the event will take place again.
17Looking back on 2011, page 16
Between February 2011 and April
2012 we approved Max-wash
program proposals for 1,662 villages.
19
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 vil-
lages between February ‘11 and April ’12.
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-
pected – success: the Prince accepted our
invitation! It was a memorable day, thanks
to the efforts of many. A great opportunity
to put the many volunteers who work with
us in the limelight.
Growth and changeBut there was more: we changed our name
and corporate identity and we kicked off
heavily in social media, such as Facebook
and Twitter. We had the opportunity to
present our case for a large conference at
the business school insead in Fontaineb-
leau. The number of wash applications of
our partners doubled and donations came
in in growing numbers. Interestingly – and
hopeful in these times – is the increased
share of income from businesses, more
than 60%. We are strongly convinced that
businesses really are willing to cooperate in
development, provided that the formula is
business like and measurable.
Thanks to the attention that we received
from celebrating the 1,000th village, we were
challenged to compose a strategic plan for
Foreign Affairs and the National Postcode
Lottery. Ambitious as we are we are going
for maximum growth, but which growth sce-
nario is realistic and achievable, especially
with the current organisation? What got us
here won’t get us there: It’s time for change.
Organisation BangladeshAt the time of writing this report, we
appointed a country director in Bangladesh,
Imam Mahmud Riad. He was selected from
86 candidates and will collaborate closely
with our local partners. This allows us to
manage the strong growth in number of
projects and partners. We will still join him
on his field trips a regular basis!
Organisation NetherlandsAlongside we have to manage growth in our
own organisation here in the Netherlands.
This is partly realized by standardizing, but
the work load grows and becomes more
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 multi-
year donations – seek security about the sustainability of
the organisation (even after seven years). In 2012 we want
to secure sustainability by reimbursing expenses to some
extent and the employing of paid staff, both sponsored by
institutional donors.
Private donations will continuously be used for a 100% for
projects in Bangladesh. We’d like to thank board members
Nathalie Besseling (till 1 March 2011) and Jasper Vet,
Henriette Berger and Martijn Thierry, who left the board
per 1 February 2012 for their many years of commitment as
board members. Femke Markus has joined the board as per
February 1 and focuses on monitoring & evaluation of our
programs in Bangladesh.
Monitoring & evaluationAt the same time was standardizing and expanding our
monitoring & evaluation a topic on the agenda. The
measurability of our results is vital to be able to link back to
our donors, but also to the partners. All local partners are
working to ensure a uniform measurement system so we
can make good comparisons and better manage costs. We
also receive all well sign pictures with gps data, so you can
see exactly in which areas we operate.
Expansion of partner
organisations BangladeshAn 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.
21Board report, page 20
Key figures 2008-2011* (eur ‘000)
2011 2010 2009 2008
Direct fundraising 703 559 211 155
Indirect fundraising 112 167 167 167
Total fundraising 815 726 378 322
Helped villages 1339 1063 754 534
Goals as mentioned in the
annual report 2010
Our ambition for 2011 Status
300 villages provided with water wells, latrines and education
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)
Raise our proactive role in partner affairs (knowledge sharing, standardisation)
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
Further structuring/professionalization volunteer-organisation NL
Implementation online monitoring system with gps-localised well images
Largely
More proactive communication via social media.
Table Goals for 2012
€ 725,000 funding
500 villages provided with Max-wash
Kick-off local Max Foundation office Bangladesh
Further professionalization Dutch organisation
Further develop Monitoring & evaluation tool
The board of Max Foundation:Steven Le Poole
(chairman),
since ’04
Joke Le Poole
(programs Bangladesh),
since ’04
Joris van Liebergen
(finance/fundraising),
since ’09
Elinor Driesen -Rottinghuis
(fundraising/
communication), since ’10
Femke Markus
(Monitoring & Evaluation),
since February ‘12
Nathalie Besseling
(till 1-4-‘11)
Henriette Berger
(till 1-2-‘12)
Jasper Vet
(till 1-2-’12)
Martijn Thierry
(till 1-2-’12)
Advisory Board:Huib Morelisse
CEO, Nuon Energy NV
Willemijn Verloop
Founder War Child
What can we learn
from setbacksAlthough income rose 25% higher than
2010, it ended 6% under the ‘11 budget.
Therefore we will lower our growth ambi-
tion 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
a healthy future. And that is what really
matters! Prof. Lucas Meijs
Professor of Strategic
Philanthropy, Erasmus
University
GoalsWhen it comes to goals, we do not only have on the number
of villages and children we helped in mind, but also how to
grow as an organisation. For 2011 finding new local partners
and developing monitoring & evaluation were prioritised.
The measur-ability of our approach is important not only
as feedback to link to our donors, but also to learn and
improve. It also provides us with good insight in the differ-
ences between our local partners. Standardizing Monitoring
& Evaluation, at all local partners, has been substantially
implemented. Our online tool that will give easy access to
all data, is not ready yet, but scheduled for 2012.
23Board report, page 22
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.
25
Azahar Ali Pramanik Md, (1958) started
his career at a renowned national wash
organisation in Bangladesh. In the following
18 years he implemented various wash
programs in hard to reach and difficult areas
in his country. Obtaining long experience and
learning in the wash sector, he founded space
to apply a different approach to wash. He im-
plemented innovative and low cost water and
sanitation supplies. Over a period of 7 years
space has developed to a unique and succes-
sful organisation with 72 staff members.
We asked space to start a pilot with our
new monitoring & evaluation tool. A tool
developed to enhance measurement of our
Max-wash programs. Not only to improve
our approach, but also to give transparent
feedback to our donors. After the pilot, which
ran from February ’11 to January ’12, we asked
Azahar to write down his experiences.
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 relation-
ship 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 attend-
ants), child birth and mortality, maternal
mortality, sanitary latrines coverage, school
wash situations, medical facilities etc. All
these information were coordinated to gps.
Later on, the map was inserted into Google with the techni-
cal 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. Utiliz-
ing 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 mother-
hood 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 Founda-
tion 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.
27Message from Bangladesh, page 26
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.
Kathalchora is located in a hilly area in Lama
Bandarban district, in the south eastern
part of Bangladesh. The village inhabits 65
families, 330 people, including 47 children
between 0-5 years old and 70 children
between 5-14 years old. Out of the total
families 61 are extremely poor: they live
on daily manual labour in seasonal Jum
cultivation and remain unemployed during
non-cultivation period (raining season).
Their daily income is too low to obtain their
daily food. Sometimes, they starve during
unemployment. Until recently they had to
drink and use unsafe water collected from
canals, streams and other surface sources.
The use of this unsafe water caused water-
borne diseases and malnutrition, especially
with children and women. Many children
could not regularly attend school due to
sickness. The pregnant women did not get
regular safe motherhood services.
Acknowledging this grave situation, space
installed 3 Infiltration Galleries, out of
which 2 at Community level and 1 at nearby
school funded by Max Foundation. space
also facilitated in 100% sanitation cover-
age with improved low-cost latrines in the
village, which have contributed in safe
water and sanitation solution among the
poor villagers. The villagers have shared 5%
cost sharing for water options and 50% for
low-cost latrines. Besides cost sharing, they
involved in physically carrying materials,
supporting and entertaining foods to the
masons during installation of water options.
Now, they have access to water at their
doorsteps, do not need for fetching water
from longer distance and do not need for
going out in the bush or open places for
defecation.
All households are found neat and clean
and they practice hygiene in their personal
and family life. As the consequence of safe
water, sanitation and improved hygiene
practices, they are experiencing better and
healthy living; waterborne diseases are
dramatically reducing among children. The
Health Supervisor of space regularly meets
the women to learn about their improved
and safe motherhood aspects. Trained and
skilled tba’s (traditional Birth Attendants)
are counselling them regularly, pregnant
women and their family are mostly aware
of safe motherhood. School enrolment
is increasing day by day. The villagers are happy to have
these essential services and facilities at their door steps.
Ms. Basanti Rani Tripura, a woman of 38 years, shared her
satisfaction with smiling face “We never imagined for such
facilities at our own village. We are free now from anxiety
of diseases and of fetching water from a long distance
crossing the hilly paths. We – especially the women and
girls – feel now secured socially, physically and mentally as
we have all facilities at our convenience. We pray to God all
betterment of the agency that funded and helped us in our
improvement.”
29Message from Bangladesh, page 28
64% of all revenues were generated
from corporate donors.
31
Balance sheet 31 December
after result (in euro’s)
ASSETS 2011 2010
Other accounts receivable, prepayments and accrued income (1)
220,242 3,390
Liquid assets (2) 715,283 495,036
Total assets 935,525 498,426
LIABILITIES
Capital Reserves (3)
Continuity reserve 37,475
Allocation reserve 123,000
Allocation fund 367,000 67,266
Long term debts
Allocated subsidies (4) 125,644 220,979
Current liabilities
Allocated subsidies (5) 260,210 196,131
Other debts and accrued liabilities (6)
22,196 14,050
Total liabilities 935,525 498,426
Statement of income and expenditure (in euro’s)
INCOME 2011 Realised 2011 Budget 2010 Realised
Income from own fundraising
Endowments and gifts (7) 669,864 439,110
Other (8) 1,542
671,406 697,000 439,110
Income from actions third parties (9)
Cordaid 50,000
Oxfam Novib 18,000
Wilde Ganzen 17,742 9,893
ncdo 3,546 41,242
21,288 50,000 119,135
Other income (10) 10,379 3,000 3,086
Total income 703,073 750,000 561,331
33Year figures, page 32
Expenditures
Spent on objectives 2011 Realised 2011 Budget 2010 Realised
Wash projects (11) 284,973 725,000 589,734
284,973 725,000 589,734
Costs income
Costs own fundraising (12) 14,499 10,000 10,263
Costs management/admin. 39,404 30,000 30,100
Reimbursed by third parties (49,099) (30,000) (30,000)
Reimbursed by board (4,804) (10,000) (10,363)
Exchange rate differences (42,109) 52
Total expenditures 242,864 725,000 589,786
Result 460,209 25,000 (28,455)
Result allocation
Released/added to allocation to reserves and funds (3)
460,209 (28,455)
Cash flow statement
2011 2010
Cash flow from management 460,209 (28,455)
Mutation claims (216,852) 12
Mutation current debts 72,225 220,979
Mutation long term debts (95,335) 55,656
Mutation liquid assets 220,247 248,192
Size of liquid assets 1 January 495,036 246,844
Size of liquid assets 31 December 715,283 495,036
Mutation liquid assets 220,247 248,192
35Year figures, page 34
Notes to the balance sheet
Prepayments and accrued income
Prepayments and accrued income have duration of less
than two years.
31/12/2011 31/12/2010
Interest paid in advance
8,126 3,390
Donations to be received
211,096
Other 1,020
Total 220,242 3,390
2. Liquid Assets
All liquid assets are freely available for the Foundation. The
balance of liquid assets is kept in order to meet the already
allocated subsidies and funds with a specific purpose. A
number of intended commitments for 2011 took place in Q1
2012, which explains why end 2011 the liquid assets exceed
the allocated subsidies.
3. Allocation fund, continuity reserve and allocation reserve
2011Continuïteit reserve
2011Bestemmingreserve
2011Bestemming fonds
2010Continuiteit reserve
2010Bestemmings reserve
2010Bestemming fonds
Size as of 1 January 67,266 95,721
Transfer from result 37,475 123,000 299,734 (28,455)
Size as of 31 December
37,475 123,000 367,000 67,266
Continuity reserve
Considering the strong growth of the foundation and the associated growing number of obligations, the continuity reserve has been set
on € 37,475. The reserve guarantees the foundation’s continuity.
Notes to the
statement of income
and expenditure
Accounting principles The annual figures concern of Max Founda-
tion registered in Amsterdam. The annual
report has been compiled according to
the requirements of the Dutch Guideline
Fundraising institutions rj 650 (Richtlijn
Fondsenwervende
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.
Reserves and fundsContinuity reserve
To guarantee continuity of the foundation
in unexpected situations for at least one
year, a part of the assets is allocated to a
continuity reserve.
When financial results are disappointing
the reserve creates a one-years-time to
regenerate income. It also covers all
committed projects Max Foundation has
signed with local partners, including support
from the Netherlands.
Allocation reserve
The allocation reserve comprises of all
assets, donated without a specific alloca-
tion. These assets will be used for future
projects, related to the foundation.
Allocation fund
Assets are designated to the allocation fund
when third parties have provided a specific
allocation to these assets.
Allocated subsidiesAll 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
are converted using the conversion rate
of 31 December.
Accounting policiesThe incomes and expenditures are allocated
to the year in which it was received. Contri-
butions of third parties to projects are
assumed in the year it is received.
All expenses on objective that are men-
tioned in the state of income and
expenditure regard the allocated funds to
Max-wash projects in the financial year.
The costs for fundraising concern only
those costs that are incurred by the board
in the financial year on behalf of the
Foundation. This amount does not include
any costs for products/services that have
been provided by third parties to the
Foundation.
Paid liabilities in foreign currency are
converted at the exchange rate on transac-
tion date. Resulting exchange differences
are accounted in the statement of income
and expenditure.
37Year figures, page 36
Allocation reserve
As per 31 December the reserve amounts € 123,000.
Allocation Fund
This fund will be applied for Max-wash projects in the
coming years.
4. Long term debts - Allocated subsidies
This regards the amount of allocated but not yet realised
subsidies for projects over multiple years. The amount for
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 31/12/2011 31/12/2010
Aungkur School 48,590
Aungkur wash 75,644 172,389
slopb wash 50,000
Total 125,644 220,797
5. Current liabilities - Allocated subsidies
This regards the amount of allocated, not yet realised
subsidies by the end of the year, which are expected to be
completed within one year after the accounting date. These
amounts can be specified as follows:
Allocated subsidies 31/12/2011 31/12/2010
Aungkur School 48,520 48,605
Aungkur wash 76,251 96,284
guk 39,741
esdo 45,697
slopb 50,000
space 51,242
Total 260,210 196,131
6. Other debts, post payments and accrued liabilities
31/12/2011 31/12/2010
Deferred endowments 22,196 14,050
Total 22,196 14,050
Notes to the statement of
income and expenditure
7. Endowments and gifts
All received endowments have been made available for the
implementation of Max-wash projects.
2011 2010
Private individuals 67,290 92,722
Companies 446,797 120,659
Foundations 101,841 171,946
Schools 26,524 25,400
Rotary 27,412 28,383
Total 669,864 439,110
8. Other benefits from own fundraising
2011 2010
Charity event 1,542
Total 1,542
9. Benefits from actions third parties
This regards duplication of endowments from private
individuals by third parties. Wilde Ganzen has provided
premiums of 35% on endowments of private individuals.
All amounts have been made available for specific Max-
wash projects.
10. Other benefits
2011 2010
Interest bank 10,604 3,390
Costs bank (225) (304)
Balance 10,379 3,086
39Year figures, page 38
11. Spent on Max-WASH projects
In 2011 Max Foundation has allocated support to partners
for the realisation of projects. A total of 40% of all benefits
was spent to the foundation’s goal. In Q1 the remaining
60% was spent, by long-term subsidies. All projects focus
on wash, unless mentioned otherwise.
2011 2010
Aloshikha (2010/2011) 36,106
Aungkur (2011-2013) 17,384 159,168
Aungkur - school-sanitation (2010-2012)
264,437
bds (2011) 29,882
esdo ( 2012) 46,521
guk (2012) 40,714
slopb (2010) 150,000 78,168
space (2011) 51,917
Partnermeeting Bangladesh
471
Total 284,973 589,796
12. Costs own fundraising
2011Costs management/admin.
2011costs fundraising
2010management/admin.
2010costs fundraising
Trip Bangladesh 3,054 8,222
Office supplies 1,000 1,391 100
Other 750 750
Subtotal by board 4,804 10,363 100
Trip Bangladesh 6,600
Officecosts 6,000
Other 22,000 14,499
Subtotal by third parties 34,600 14,499 19,837 10,163
Total 39,404 14,499 30,100 10,263
13. Transactions with connected parties
Unlike the compensation of incurred costs and
endowments by the board and sponsors of the
foundation, no transactions exist with connected parties.
The incurred costs have been reimbursed completely by the
board of the Foundation or by products/services/contribu-
tions of third parties. As a result all obtained funds can be
spent on Max-wash projects and the share of costs for own
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.
* Considering costs, Max Foundation so far has not applied for
a CBF-mark.
41Year figures, page 40
Independent auditor’s reportTo: the Board of Max foundation
audit. We conducted our audit in accord-
ance with Dutch law, including the Dutch
Standards on Auditing. This requires that we
comply with ethical requirements and plan
and perform the audit to obtain reasonable
assurance about whether the financial state-
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 assess-
ment 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
control relevant to the entity’s preparation
and fair presentation of the financial state-
ments in order to design audit procedures
that are appropriate in the circumstances,
but not for the purpose of expressing an
opinion on the effectiveness of the entity’s
internal control. An audit also includes
evaluating the appropriateness of account-
ing policies used and the reasonableness
of accounting estimates made by the board,
as well as evaluating the overall presentation
of the financial statements.
We believe that the audit evidence we have
obtained is sufficient and appropriate to
provide a basis for our audit opinion.
OpinionIn our opinion, the financial statements give a true and fair
view of the financial position of Max foundation as at 31
December 2011, and of its result for the year then ended
in accordance with guideline 650 ‘Charity organisations’ of
the Dutch Accounting Standards Board.
Report on annual reportWe 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
Report on the financial
statementsWe 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 The board of the Max Foundation is
responsible for the preparation and fair
presentation of the financial statements
and for the preparation of annual report,
both in accordance with guideline 650
‘Charity organisations’ of the Dutch
Accounting Standards Board. Furthermore,
the board is responsible for such internal
control as it determines necessary to enable
the preparation of the financial statements
that are free from material misstatement,
whether due to fraud or error.
Auditor’s responsibilityOur responsibility is to express an opinion
on these financial statements based on our
Auditors’ report, page 42 43
Max Foundation
Gyroscoopweg 142 1 hg
1042 AZ Amsterdam
The Netherlands
Bank account: 50.51.07.333
In the name of Max Foundation,
Amsterdam.
IBAN: NL36ABNA0505107333
BIC (SWIFT): ABNANL2A
Chamber of commerce: 34219433
ANBI code: 814054110
www.maxfoundation.nl