Finances 2022
The income of the Alvan Tsarik Foundation consists entirely of donations.
In 2022, we received a total of €62,133.00 in donations.
We spent €49,940.79.
Income
This year, we started specifically requesting funds for our new Technasium project. We wanted to launch a pilot in Gyumri to introduce this form of education in Armenia. We submitted our project proposal to several specific funds, which generated €30,600.00.
A second major income item was our real estate. This year, we were able to purchase a neighboring house to our center in Gyumri. This house was in good condition, providing us with many more opportunities to carry out our work. Among other things, an office has been created here, and it will become the kitchen and dining room for the preschool. The “Stichting Het Bosje” donated €18,000.00 for this purpose.
Expenditures
For the time being, the Alvan Tsarik Foundation still supports the organization in Armenia by providing reembursement expenses for director Lilit and coordinator Yester. Gagik also receives a reembursement expenses as our building manager, responsible for the real estate and largely the implementation of the work. The remaining reembursement expenses are paid from the income of the Alvan Tsaghik Foundation in Gyumri.
The purchase and renovation of the neighboring house was a significant cost. Part of the renovation costs were offset because a delegation of Frisian youth from Achlum worked on it for a week.
Due to new legislation on real estate and uncertainties in the land registry in Armenia, we incurred quite a bit of legal costs this year. For example, we had to amend the statutes of our Armenian “daughter” organization, Alvan Tsaghik Social Educational Centre NGO, and we sought legal assistance regarding issues around property rights. Unfortunately, this has not yet led to a final resolution.
The first solar panels are now on our roof. The purchase and installation cost €4,450. The panels will result in significant savings on energy costs, especially since Armenia also has a net metering system. The abundant sunshine in summer will provide heating in winter. We also immediately invested in several electric heaters, so the gas central heating will mainly be used during extreme cold.
The first pilot for the Technasium education has started. The expenses are primarily in salaries. This is an additional contribution to the salaries of the participating teachers, as they are carrying out the Technasium project in their own time. Additionally, our staff for the Technasium activities are also paid. The extra flights from the Netherlands for the project leader are also covered by this budget. Part of these expenses was reimbursed through donations back to the foundation.
This year, we achieved a relatively large positive result. This money has been reserved for the Technasium expenses for the first half of 2023.
Other
If desired, the 2022 financial statements can be requested from the treasurer.
INCOME STATEMENT
Overview 2022
The results can be summarized as follows:
Receipts
- General Donations: €9,433.00
- General Donations: €4,100.00
- Technasium Project: €30,600.00
- Expansion Project: €18,000.00
Total Income: €62,133.00
General Expenses
- Solar Energy Project: €4,445.00
- Technasium Project: €11,140.46
- Hovik Project: €1,700.00
- Real Estate Purchase Project: €12,300.00
- Heating: €2,000.00
- Electricity: €3,000.00
- Construction: €5,700.00
- Organization: €7,600.00
Total General Expenses: €30,600.00
Other Costs
- General Expenses: €67.75
- Travel Expenses: €6,114.45
- Donation: €4,576.87
- Kilometer Reembursement: €1,537.58
Total Expenditures: €49,490.79
Net Result: €12,642.21