Annual Report 2011 Max Foundation

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.”


*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.


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


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.


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


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.


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

[email protected]

www.maxfoundation.nl

Annual Report 2011 Max Foundation

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