Stichting WakaWaka Foundation Annual Report 2013

Stichting WakaWaka Foundation Annual Report 2013

Introduction 3

Mission and Approach 4

1. Our Mission 4

2. Our Approach 4

3. Our Values 5

Activities & Impact 2013 6

1. Light Up Haiti 6

3. Solar For Philippines 7

2. Solar For Syria 7

4 Crisis Aid 8

5. Microcredit Program 8

6. Sun Sharing Alliance 9

Program & Outlook 2014 10

1. Crisis Aid 10


3. Partner Projects 10


Governance 11

Financial Statements 12

1. Balance Sheet 12

2. Statement of Income and Expenses 12

3. Commentary on Financial Statements 13

4. Cash flow statement 14

5. Budget 2014 15

6. Commentary on Budget 2014 16

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Table of contents

During the year, we’ve built a network of local, grass roots organizations with whom we coordinate the responsible in-tegration of WakaWakas in rural commu-nities and established plans for long term involvement and monitoring. We’ve also invested in developing different organi-zational strategies and business models to reach those who live on less than 2 dollars a day. And lastly, we were blessed to see the birth of the global WakaWaka community of backers, supporters and donors, which amplify our message and work with us for the WakaWaka mission to end energy poverty. All in all, we now have over 70.000 WakaWakas on develo-ping countries listed on our impact map, thanks to the combined efforts by the WakaWaka Foundation and our partner company Off-Grid solutions B.V. This is an incredible feat for our young WakaWaka organization, and something which we are very proud of.

Last year, Off-Grid Solutions B.V. (the producer of the WakaWaka products), transferred all of the responsibility for WakaWaka aid projects and cooperation with NGO’s to the WakaWaka Foundation. This enabled the foundation to focus on its main goal: to provide the poorest of the poor with safe, sustainable and self-sufficient light and energy solutions.

With regular market models it is extre-mely hard to reach this ‘bottom of the py-ramid’, so a non-profit like the Foundation is necessary to coordinate donor-projects and pilot new strategies.

We were supported in 2013 by the ge-nerous donations of Off-Grid Solutions B.V., which enabled the establishment of the foundation, and thanks to generous exter-nal donors we are able to start operating financially independent from 2014 onwards.2013 was also the year of laying the founda-tion for some exciting, large-scale projects to light up the bottom of the pyramid in a financially and ecologically sustainable way. We’ve developed new micro-finance models aimed at women, which we will launch in the summer of 2014. We’ve also built exciting partnerships with Dutch cor-porates who will donate large amounts of WakaWakas to off-grid communities. For 2014 we’re expecting to be able to reach an exponential number of people who live on less than two dollar a day with WakaWakas. We will remain focused on this group in 2014 because they are the ones who will benefit most from safe, self-sufficient and sustainable solar solutions. All in all, we’re planning for 2014 to be a year of growth.

We are looking forward to intensifying the relationship with our partners from the NGO and corporate sector and continue to be grateful for the support of the global WakaWaka community. If you are not yet in a part of this vibrant group of people, we encourage you to contact us and see if we can work together to end energy poverty

for the 1.2 billion people living off-grid.

Looking forward to hear from you in 2014.

Cas van Kleef, PresidentMaurits Groen, Vice President

dear readerWelcome to the annual report of the WakaWaka Foundation 2013!

2013 was an exciting year for the Waka-Waka foundation. We launched our first big aid programs in Haiti, Syria and the Philippines resulting in 20.000 donated WakaWaka Lights and Powers for people living in crisis situations. More than 100.000 refugees now enjoy clear, safe and clean light and energy, all day long. It was also a year of kickstarting growth and capacity building for our organiza-tions.

Introduction 3

Mission and Approach 4

1. Our Mission 4

2. Our Approach 4

3. Our Values 5

Activities & Impact 2013 6

1. Light Up Haiti 6

3. Solar For Philippines 7

2. Solar For Syria 7

4 Crisis Aid 8



Program & Outlook 2014 10

1. Crisis Aid 10


3. Partner Projects 10


Governance 11

Financial Statements 12

1. Balance Sheet 12

2. Statement of Income and Expenses 12

3. Commentary on Financial Statements 13

4. Cash flow statement 14

5. Budget 2014 15

6. Commentary on Budget 2014 16

Introduction

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We devise strategies and team up with NGOs and corporations to make sure solar solutions become available to those who suffer from extreme poverty, live in remote regions or are a victim of forced migration.

Mission and Approach

We believe we’re on the verge of a mobile energy revolution, which will primarily affect the 1.2 billion people living off grid. Personal solar power solutions will enable them to develop their lives in an economi-cally and ecologically sustainable way.

However, there is very little research or experience with reaching the poorest of the poor, who often live in very remote rural regions, with these kind of relatively new small-scale solar products. Those living ‘off-grid’ are not only not connected to the electricity grid, but are also disconnected in terms infrastructure, information, education etc. that is why it has proven so difficult to

reach this target group in a financially and organizationally sustainable way.

For this reason the WakaWaka Foundation invests in research and pilot projects to re-ach these communities and also pro-acti-vely shares the results with our partners to eradicate expensive and dirty fossil-based energy solutions as soon as possible. One of our main functions is also to connect people and organizations, advocate on energy poverty and inspire businesses, NGO’s and governments to come together to end energy poverty.

We’re convinced that the only way to reach every one of the poorest of the poor with solar solutions are organizational models that combine the best that ‘trade’ and ‘aid’ have to offer.

our missionThe WakaWaka Foundation is an interna-tionally operating NGO combating energy poverty. We focus on providing safe, sustainable and self-sufficient energy and light solutions to people living at the bot-tom of the pyramid.

our approachThere are 1.2 billion people living off-grid (no access to the conventional electri-city grid) who are dependent on toxic, dangerous and dirty kerosene lamps for lighting or simply live in the dark at night.

The effects on the lungs of the indoor air pollution caused by kerosene light and in-door cooking is tremendous. No access to light is detrimental to safety, school results, economic activity and community life. Off-grid options to obtain electricity to charge mobile phones or transistor radios are also very limited, very expensive and rely on dirty fossil fuels. The WakaWaka Founda-tion believes that these people should not wait for the arrival of old-fashioned, large-scale energy grids, which largely run on fossil energy. We envision a similar transi-tion in personal energy as we have seen in personal communication. Many people at the bottom of the pyramid have never had a phone landline; they jumped straight to affordable cell phones. Why shouldn’t this be possible with energy as well?

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Long-term Commitment: Integrating solar solutions in local cultural practices and harnessing their long-term benefits in rural communities requires is a complicated matter. We don’t believe in a ‘drop and run’ of solar products where the recipients are left to their own devices, leading to little impact. The organizational framework of our projects are, scalable, dynamic, flexible and involve training, service & mainte-nance-regimes and long term monitoring. Whenever possible, we prefer market-based organizational models.

Empowerment: We prefer to empower local, grassroots partners instead of ‘going at it alone’. Often, local organizations are much more efficient in reaching the target group with WakaWakas. We believe in trust and verification instead of employing resources to have a heavy, redundant, on the ground presence.

Equality: In our approach towards the recipients of WakaWaka we try to establish a more equal relationship between donor and end-user. That is why we work with the ‘free, but not for nothing’-principle and do not prescribe what users should use the WakaWaka for. We encourage individual initiative.

Knowing before doing: Our programs are based on scientific research and tho-rough monitoring. Whether big or small, the activities of development organization often have a profound effect on the lives of rural, impoverished communities, for better or worse. Too often, NGO’s re-invent the wheel time or let themselves be guided by best wishes instead of best practices. We discourage small scale ‘NGO-hobbyism’.

Transparency: We strive towards being as transparent as possible, maintain a pro-active communication about our successes and mistakes and make our research and experiences freely available to anyone who wants to eradicate energy poverty. There are 1.2 billion people living off-grid and we need to work together to light up the world.

Our Values

These are the five values that guide us in everything we do.

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Activities & Impact 2013

with grass roots organizations from Haiti.

The WakaWaka Lights have been distri-buted throughout the country with special attention given to poor, off-grid areas, such as the tent camps around Port-au-Prince. Children in these areas often have to walk long distances to arrive at school, and by the time they return home it is often dark. With the arrival of the WakaWakas, they are able to get home safe and do their homework in the evening. Villages that have been built to house earthquake victims are replacing the tent camps. These homes are not connected to the grid, and probably never will be. The WakaWaka solar LED lamp is a real completion to these residences.

This project has acquired a place in the spot-light by supporting the efforts of local Haitian NGOs to ensure safety, work opportunities, longer studying time for children, cleaner streets, new roads, more trees replaced and a higher disposable income. In the course of our Haitian involvement, we developed the ‘free, but not for nothing’ principle. Even though the recipient might have very little or no money, we know there is always a small (symbolic) amount of money or community service that can be provided by the recipient. This encourages sustainable ownership and creates a more equal relationship between the donor and recipient. Any donation-based project guided by the WakaWaka Foundation will work from this principle, if at all possible.

Light up HaitiAfter the devastating earthquake in 2010 and Superstorm Sandy in 2012, more than 370.000 Haitians were still suffering from its after-effects and were living in camps and makeshift tents with complete darkness at night.

NGO WakaWakas Beneficiaries Service in return

Save the Children 1.000 Children Contribution to community projectsHaiti Survive 250 Vulnerable groups Community clean up day, Planting treesMISSEH 1.000 Poor Families Cleaning the community, Planting trees.GARR 250 Homeless Haitians Small contribution for maintenanceLWF 500 Families Participation in community reforestation Wereld Ouders 800 Children -Aid Still Required 2.000 Sexual assault victims land clearing, construction, tree plantingIOM 2.000 Families in tent camps -Vibrant Village Foundation 1.000 Poor families Small contribution to community solar panelCDECH Haitin 500 - -Habitat for Humanity 900 Poor families Community workDigicel Haiti 500 - -J/P HRO 300 - -Haiti 155 100 - -

Total 11.100

In December 2012, WakaWaka launched a Buy One, Give One campaign on Kickstarter that introduced the WakaWaka Power. For every Power bought in America, one family in Haiti was lit up with a WakaWaka Light. This campaign raised more than 12.000 WakaWaka Lights, of which the majority was distributed in the summer of 2013. This project and the distribution was coordina-ted by the WakaWaka Foundation together

Crisis Aid

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WakaWaka is getting solar powered lamps and chargers on the ground. Already more than 4.000 WakaWaka Lights and Powers have been donated by businesses and Wa-kaWaka supporters around the globe.

Kofi Annan expressed his support for our campaign. Mr. Annan: “The Solar for Philip-pines campaign brings light into darkness in a sustainable and energy efficient way. It will hopefully soon be available to Typhoon victims in the Philippines. It may well prove to be a viable solution to people facing similar hardships in other places around the world.”

Solar for PhilippinesOn november 8th, Haiyan, the strongest typhoon ever hit The Philippines leaving 3.4 million people displaced and 1.1 million houses damaged or destroyed. The deva-station left by Haiyan is a humanitarian catastrophe. Millions in the Philippines are without electricity and it will take up to a year or more to restore that.

Solar for SyriaThere are more than 7 million refugees as a result of the Syrian civil war, and the number continues to grow each day. The most basic care and needs are missing.

Because of the lack of electricity in most refugee camp there is hardly any light and communication is almost impossible. Sadly this situation is expected to get worse before any improvement. WakaWaka’s solar powered devices provide immediate assistance as well as long-term relief and enables survivors to see after dark and to charge their phones to connect with family members and loved ones elsewhere.

WakaWaka is working with the Internatio-nal Rescue Committee to ensure timely and responsible distribution of the WakaWakas.

“WakaWakas are among the most valued aid tools we’ll distribute.” according to Bob Kitchen, Director Emergency Preparedness and Response of the IRC.

Crisis Aid ProgramOur experiences in Haiti gave rise to our Crisis Aid Program. When natural disasters strike or millions of refu-

gees flee their homes to escape the out-

break of a war, access to light and power is a matter of life and death. In our crisis aid program, the WakaWaka Foundation works directly with local humanitarian aid organizations, such as the International Rescue Committee, to get our solar lamps and chargers on the ground - as many as

we can, as soon as possible. WakaWaka’s solar powered devices provide immediate assistance as well as long-term relief and enable survivors and refugees to see and live after dark and to charge their phones to connect with family members and loved ones elsewhere.

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Activities & Impact 2013

Microcredit ProgramIn 2013 we’ve invested in developing new micro-finance models to make sure the bottom of the pyramid are able

to purchase the WakaWakas. Thanks to an intensive partnership with the IVY Foundation we have designed the Women Empower Initiative, which we will pilot in Indonesia in 2014.The women Empower Initiative is an inno-vative, scalable and sustainable business model, which gives rural women at the bottom of the pyramid access to working capital, WakaWakas and entrepreneurial training. In cooperation with local Micro-finance Institutions (MFI’s) we offer the women an ‘integrated loan’; a package

consisting of a working capital loan and a product loan for WakaWaka products. By offering a loan for a financial and non-

financial product we aim to fully unleash the women’s entrepreneurial potential in two mutually reinforcing ways. Firstly, the working capital loan and entre-preneurial training will enable unbankable women to start up their own enterprise. And secondly, the WakaWaka will in-crease productive entrepreneurial time by providing 3 hours of extra light in the evening. It will also reduce daily household expenses spent on dangerous, inefficient and unsustainable energy, light and mobile phone charging, eventually reducing the costs to zero. The increase in entrepreneu-rial hours and decrease in household costs will enable the women to repay their loan and grow their business much faster, but also exponentially increases their fate to influence their own lives.

Sun Sharing Alliance WakaWakas Country Beneficiaries

Stichting Dogon Vrouwen Initiatief 1.973 Mali Women in the Dogon region Stichting Wenzi 24 Kenya Children at the Mwamtsefu school Stichting Rondom Baba 100 Mali Families in Here Bugu V!VE l’initiative 150 Burkina Faso Children in Burkina Faso and Mali Stichting Karibu - Tanzania 75 Tanzania Children at the Mudindi secondary school J.J. Kesler 100 Tanzania Children at the Safina orphanage in Shirati Stichting Bos & Vaart 600 Zimbabwe Children in Mutare

Total WakaWaka Lights 3.022

Sun Sharing AllianceThe WakaWaka Foun-dation believes that we need strong partnerships to reach everyone living in off-grid communities.

There is an enormous amount of small non-profits with a relatively small budget, often without any staff, which are founded by concerned individuals who often have a special relationship with a particular off-grid community in a developing country. These NGO’s support small-scale, concrete projects in a particular community where WakaWakas are often needed most. These organizations would benefit from acquiring WakaWaka products in small batches but often lack the resources to do so.

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In order to provide the communities they serve with safe, sustainable and self-sufficient energy solutions, we offer the possibility for non-profits to buy WakaWaka products for a heavily reduced price. Orga-nizations can apply to become a WakaWa-ka Sun Sharing Alliance Partner in order to obtain WakaWaka products for a reduced

price if the products are designated for a WakaWaka target community.

In 2013, a total of 3,022 WakaWaka Lights were distributed through the Sun Sha-ring Alliance. The following table gives an overview of the different projects and beneficiaries.

2000

100

500

100

100

900 500

12000

25000

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Program & Outlook 2014

Microcredit Program

We will pilot the Waka-Waka Empower Initiative in Indonesia from July 2014 onwards. Already,

the local MFI’s are very enthusiastic to cooperate as they see the integration of WakaWaka-products in an entrepreneurial loan as a way to expand their activities and lift thousands more out of poverty.

We expect 2014 to be a year of ‘proof of concept’ with a few thousand WakaWakas on the ground. Because word of mouth is such an important part of where local wo-men receive their information in Indonesia, it is extremely important to get the organi-zational model and service & maintenance-regime in perfect shape before scaling up.

Crisis Aid

We will continue with our Solar for Syria campaign throughout 2014. Unfortunately, the

number of Syrian refugees is still climbing everyday and the situation on the ground will only get worse before it gets better. We feel continued international support and attention is essential for this relatively forgotten conflict of enormous proportions. We’ll continue to work with our private and corporate donors to provide Syrians with as many WakaWakas as possible in 2014.

Aside from the Solar for Syria-campaign, we’re investing in our organization so that we can be ready to launch a new Solar for… Campaign if a large-scale disaster happens to strike in another region.

Partner Projects

For WakaWaka Partner Projects the WakaWaka Foundations will team up with corporations and

NGOs to provide WakaWakas to families in developing countries. The WakaWaka Foundation will develop and implement the-se large scale (+1000 WakaWakas) partner projects according to the WakaWaka qua-lity principles, to get the maximum social and environmental benefits and responsibly integrate personal solar solutions in local communities. Within a partner project, the WakaWaka Foundation will be responsible for overall project management, finding a local target group and partner to implement the project, arrange the logistics, monito-ring, repairs and recycling. We expect the first Partner Project to be implemented in the first 6 months of 2014.

Sun Sharing Alliance

In 2014, the WakaWaka Foundation will continue to work with small and local NGOs to provide

WakaWakas to the communities who need it most. We intend to further professionalize the implementation of the Sun Sharing Alli-ance. This will involve setting up a detailed monitoring system to measure the impact of the WakaWakas, but also communica-ting more effectively on the impact that we achieve.

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Governance

The day-to-day operations of the Waka-Waka Foundation are managed by the daily board of the foundation, consisting of:

< Cas van Kleef (President)

< Maurits Groen (Vice-president)

< Robin Sheridan (Treasurer)

The board meets every month to discuss ongoing business and to report to the Supervisory board.

The supervisory board is assigned with the task of supervising management, advising on strategic matters, authorizing financial statements and appointing, sus-pending and discharging members of the management team. The supervisory board consists of:

> Wouter Scheepens (Chairman)> Sywert van Lienden> Froukje Jansen

The supervisory board generally meets every 3 months, and in 2013 met 4 times.

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Financial Statements

2013 2012Current AssetsReceivables and prepayments 173 3.065 Cash at banks and in hand 23.446 18.496 Total Assets 23.618 21.560 Reserve and FundContinuity reserve 18.826 981-Destination fund 3.187

Total Capital 22.012 981- Current liabilities 1.606 22.541 Total capital and liabilities 23.618 21.560

Actuals 2013 Actuals 2012IncomeSun Sharing Alliance 13.846 56.080 Donations 75.962 1.282 Total income 89.808 57.363 ExpendituresOperating expendituresPersonnel expenses 23.431 3.000 Office expenses - 85 Marketing costs - 1.762 General expenses 2.903 1.830

Total operating expenditures 26.334 6.677 Financial expenses 262 164

Project expendituresDevelopment folders - - Project Kenya - - Project Haiti - Crisis Aid - - WakaWakas (Sun Sharing Alliance) 20.019 51.503 WakaWakas (Solar for Philippines) 20.200 -Total project expenditures 40.219 51.503 Total expenditures 66.815 58.344 Balance of Income and Expenditures 22.993 981-

Balance SheetDecember 31, 2013 (€)(After proposed appropriation of the balance of income and expenses)

Statement of Income and ExpensesFor the period ended December 31, 2013 (€)

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2013 2012Current AssetsReceivables and prepayments 173 3.065 Cash at banks and in hand 23.446 18.496 Total Assets 23.618 21.560 Reserve and FundContinuity reserve 18.826 981-Destination fund 3.187

Total Capital 22.012 981- Current liabilities 1.606 22.541 Total capital and liabilities 23.618 21.560

IncomeThe WakaWaka Foundation provides small NGOs the possibility to buy WakaWaka products for a heavily reduced price under the Sun Sharing Alliance. This led to a total income of €13.846. It should be noted that midway through the year the WakaWaka Foundation changed the procedure for the Sun Sharing Alliance. Instead of selling WakaWaka products at a reduced price, which were in turn purchased from Off-Grid Solutions, NGOs who qualify to buy WakaWaka products at a reduced price can now purchase these directly from Off-Grid solutions B.V. through the Sun Sharing Alliance. The foundation has chosen to only take on a facilitating and advisory role, identifying which NGOs should be eligible for a reduced price.

The donations that the WakaWaka Founda-tion received far exceeded the budget and our expectations, totaling €75.962. In total €21.330 was received for the Solar for Phi-

lippines program, and €2.057 was received for Solar for Syria. In 2013 we were able to use €20.200 for the purchase of Waka-Waka Powers for Haiyan survivors in the Philippines. The rest of these earmarked donations will be spent early in 2014.

ExpendituresPersonnel expenditures were close to what was budgeted, and included the hiring of a finance manager and volunteer fees for 2 volunteers. At the end of the year, 2 full-time employees were working for the Foundation, but both salaries were covered by Off-Grid Solutions B.V.. Starting January 1, 2014, the Foundation will cover these salaries independently from Off-Grid Solutions B.V.

Office and marketing costs were covered by Off-Grid Solutions B.V. as well. General expenses were slightly higher than bud-geted. These costs include the financial administration by Brouwer & Oudhof and

other advisory costs.

The majority of the project costs in 2013 incurred were covered by Off-Grid Soluti-ons B.V. These costs included the design and printing of marketing materials and the personnel cost of the Haiti project and Sun Sharing Alliance (including the Mwamtsefu project in Kenya).

Appropriation of the resultIn total, €21.330 in donations were received for the Solar for Philippines pro-gram, and €2.057 was received for Solar for Syria. €20.200 was spend in 2013, and the remaining €3.187 will be added to the destination fund for these program. The remainder of the balance of income and expenditures (€19.807) will be added to the continuity reserve.

Actuals 2013 Actuals 2012IncomeSun Sharing Alliance 13.846 56.080 Donations 75.962 1.282 Total income 89.808 57.363 ExpendituresOperating expendituresPersonnel expenses 23.431 3.000 Office expenses - 85 Marketing costs - 1.762 General expenses 2.903 1.830

Total operating expenditures 26.334 6.677 Financial expenses 262 164

Project expendituresDevelopment folders - - Project Kenya - - Project Haiti - Crisis Aid - - WakaWakas (Sun Sharing Alliance) 20.019 51.503 WakaWakas (Solar for Philippines) 20.200 -Total project expenditures 40.219 51.503 Total expenditures 66.815 58.344 Balance of Income and Expenditures 22.993 981-

Addition to destination fund Solar for Syria 2.057 Solar for Philippines 1.130 Total addition to destination fund 3.187 Addition to continuity reserve 19.807 22.993

The balance of income and expenditures 2013 is appropriated as follows:

Additions to the destination fund imply timing differences between recognition of income and spending. Additions mean that donations have been made for specific projects, while costs have not yet been incurred.

Commentary on Financial Statements

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Cash flow statement

2013 2012Cash flow from operating activities

Balance of income and expenses 22.993 981- Changes in working capitalReceivables and prepayments 2.892 3.065-Current liabilities 20.935- 22.541

Cash flow from operating activities 4.950 18.495

Movements in cash and cash equivalents

Opening balance cash and cash equivalents 18.496 - Increase cash and cash equivalents 4.950 18.496

Closing balance cash and cash equivalents 23.446 18.496

For the period ended December 31, 2013 (€)

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2013 2012Cash flow from operating activities

Balance of income and expenses 22.993 981- Changes in working capitalReceivables and prepayments 2.892 3.065-Current liabilities 20.935- 22.541

Cash flow from operating activities 4.950 18.495

Movements in cash and cash equivalents

Opening balance cash and cash equivalents 18.496 - Increase cash and cash equivalents 4.950 18.496

Closing balance cash and cash equivalents 23.446 18.496

Budget 2014

Income (€) Sun Sharing Alliance 5.000 Partner Projects 138.200 Founding partners & Partnerships 85.000 Company commitments 10.000 Other donations 15.000 Total income 253.200 Expenditures (€) Staff expenditures

Gross staff salaries 79.560 Holiday Fee 5.760 Employer costs 14.400 Travel costs 14.911

Total staff expenditures 114.631 Partner Project expensesWakaWaka units 83.750 Shipping 10.000 Local Logistics 15.000 Other local project costs 6.000 Travel & accommodation costs 6.000 Communication expenditures 1.200

Total Partner Project expenditures 121.950 General expendituresAccountant/admin costs 3.000 Liability Insurance 1.200 Bank/PayPal charges 600 Communication/printing costs 1.200 Rent 6.000 Office costs 300 Website/IT costs 1.200 Phone costs 600 Representation costs 840 Total general expenditures 14.940 Total Expenditures 251.521

Balance of Income and Expenditures 1.679

IncomeThere are two programs that lead to a direct income stream, the Sun Sharing Alliance Program and the Partner Pro-jects Program. Partner Projects income is directly linked to project expenditures, and these expenditures have been included separately from other expenditures in the budget.

In addition to one-off donations from individuals and companies, we distinguish between 2 types of structural partners, founding partners/partnerships and company commitments. Founding partners

contribute €25.000 annually to the work of the Foundation. Partnerships are smal-ler structural contributions by individuals or companies. Company commitments include agreements with companies to donate part of their profit to the Foundation and commitments from companies to make a contribution for every order they receive.

ExpendituresStaff expenditures are based on 2 fulltime employees (the director of the foundation and a finance/project manager), and 2 interns.

Partner Projects expenditures have been presented separately, and are directly linked to the income for these projects. The costs include purchase of WakaWaka units and all direct costs involved with these projects.

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Commentary on Budget 2014

Documents

Stichting WakaWaka Foundation Annual Report 2013