Current Financial
About NOTS


Financial
From a financial perspective, NOTS has a simple structure. NOTS has four sources of income, and all expenses are charged to NOTS Support B.V. This makes the financial operations of NOTS totally transparent. As from the financial year 2008, the annual accounts of the NOTS Foundation, NOTS Investments B.V. and NOTS Support B.V. will be audited by PricewaterhouseCoopers.

NOTS has four sources of income:
  • Donations. Of the donations received, 90% is invested in the project of the donor’s choice. The remaining 10% is used to cover NOTS’ operating expenses.
  • Proceeds of the sale of NOTS100% gift vouchers. The full amount shown on the voucher is invested in the project selected by the recipient of the NOTS100%. Buyers of NOTS100% pay the value of the voucher plus 10%. NOTS uses the 10% to cover its operating expenses.
  • Income from the issue of NOTS Microcredit Bonds. This money is used to issue loans to and shares in MFIs. Every year NOTS receives 0.5% of the nominal value of the outstanding bonds to cover its operating expenses.
  • Current account credit provided by Bart Hartman (chairman of NOTS Foundation) to NOTS Support B.V. This current account credit enables any deficits at NOTS Support B.V. to be cleared.
In addition to these sources of income, NOTS also receives income in kind. This takes the form of donations from individuals and businesses that enable to NOTS keep its operating expenses down.

In the last few years, the NOTS team has invested a great deal of its time to developing and defining the NOTS concept, identifying and contracting suitable scholarship projects and developing and defining the NOTS Microcredit Bonds. Relatively little time is spent on promoting NOTS, so the amount of donations in recent years has been quite small. To change that situation NOTS took on two employees on 1 March 2008 for fundraising and PR. It is expected that the NOTS Microcredit Bonds will be launched on the 14th of October 2008. The assistance of several banks and asset managers will be enlisted to promote the bonds