Edukans is an international NGO with offices in Ethiopia, Kenya, Malawi, the Netherlands, and Uganda. Alongside our dedicated and passionate teams, we are working to strengthen the education systems across Eastern Africa. We believe education is the most powerful engine for progress. It can enable young people to flourish as they discover and develop their talents, resulting in a healthier, happier and more successful life. It has the power to change societies from within and to support sustainable, inclusive and safe communities. Edukans is committed to unleashing the power of education. To realise its full potential for improving the well-being of individuals and communities, especially those who are marginalised and displaced. We work towards education that equips children and young people with the skills they need to participate in a rapidly changing world, ranging from reading and writing to social and digital skills.

Edukans Theory of Change 

With over 20 years of experience, we have developed a solid Theory of Change that is guiding our work for quality education.

Geographical focus

Edukans is active in four focus countries: Ethiopia, Kenya, Malawi and Uganda. Country offices have been established and registered in these countries, and national staff engaged. In these countries, Edukans aims to develop a diversified portfolio, offering the full range of Edukans programmes to change the long-term prospects of people in these countries. In addition to the focus countries, Edukans also implemented projects in Ghana, Lebanon, and Rwanda in 2024.

Skills for Work and Life

Skills for Work and Life is an Edukans programme for young people which helps them to develop their skills in preparation for work and for meaningful participation in society. Employers are looking for employees with the skills that will be needed tomorrow, for the jobs of the future. The programme focuses on the development of skills which are relevant to the labour market so as to increase the chances of decent (self) employment. We support the development of relevant skills for young people with our 7 steps to WORK model, our Work Based Learning approach, life skills and digital pedagogy trainings. Learn more about these interventions below.

Learn more about Skills for Work and Life

Exchange 

At the heart of Edukans’ mission is the belief that empowered teachers shape the future of education. The Exchange Programme promotes collaboration between educators in the Netherlands and our focus countries, creating opportunities for knowledge-sharing, professional development, and the advancement of quality teaching and learning. By connecting teachers international, Edukans facilitates peer-to-peer learning, pedagogical skill growth, and improved school management while reinforcing educators as role models in children’s lives. In doing so, we empower teachers to inspire and motivate one another.

Learn more about Exchange

As in the former years, also in 2024, we were fortunate to receive warm support from foundations, corporations, individual donors, schools, churches, and our dedicated ambassadors. Each of these supporters recognises that quality education is the key to a sustainable future for children and young people in the countries where we work. Sofie van den Enk, one of our ambassadors, put it beautifully: 

Thanks to this support, we raised €5,831,845, enabling 334,294 children and young people to embrace their right to education and confidently shape their futures.

The year 2024 also marked a period of rapid change. Political shifts and significant subsidy cuts in the NGO sector have influenced the fundraising landscape, intensifying competition among donors, corporates, and foundations. Edukans has responded to these challenges by strengthening existing relationships, deepening our understanding of our audiences, and staying agile in a fast-evolving environment. Innovation, adaptability, and maintaining a fun and impactful approach remain at the heart of our mission.

This year, we worked diligently to develop a forward-thinking Engagement & Fundraising strategy, placing a strong emphasis on data-driven and client-centred approaches. We also continued to build strategic partnerships with corporates, foundations, and knowledge institutes, recognising the growing potential of international fundraising. One shining example of our global collaboration is the Wear the Green Future project, which showcases the power of teamwork across borders. This flagship initiative not only inspires our colleagues but also external partners, making it a true co-creation success.

The importance of green education became a central theme in our campaigns, including ‘The Greenies’ and Green Wish campaigns, which resonated deeply with a broad audience. Our enhanced social media presence played a key role in amplifying these messages, getting strong support from a growing community of followers.

In the sections below, you will find more details about our donors, partners, activities, and the outcomes we have achieved together. If you have any questions, we invite you to reach out to our Engagement & Fundraising team at info@edukans.nl. We will be happy to respond personally.

Thank you for being part of our transformative journey to unleash the power of education.

4.1 Sources of income

Trust funds

Last year 59 foundations supported Edukans with generous contributions amounting to €840,893. Some trust funds have been supporting our work for many years for example, ASML Foundation who has supported us before, contributed again in 2024 to further expand and validate our approach to climate education and green schools with the Green Start Heroes project. Although the ASML Foundation is closing, we are delighted that ASML remains committed to the mission of improving lives through inclusive and quality education.

Another trusted partner for many years is the AFAS Foundation. Their contribution has enabled us to train 9,000 young people in Kenya, equipping them with professional and personal skills tailored to labour market demands, enabling them to secure employment or start their own businesses. In October, we were honoured to present this programme at the annual AFAS partner event.

The video below showcases the programme funded by the AFAS Foundation: the training of teachers and school directors, highlighting the positive impact of qualitative vocational education in their schools.

With the support of partners such as CCHO, we expanded the AFAS-project by providing start-up kits with essential tools to some of the young participants who want to start their own businesses. The tools give them the opportunity to execute their business plans and realise their dreams.

In 2024, Edukans also partnered with The Chocolonely Foundation to improve the quality of education and the prospects for girls in rural cocoa-producing communities in Ghana. Thousands of children benefit from empowered teachers who were trained in Active Teaching and Learning methodologies and from strengthened parental and community involvement.

After several years of supporting emergency education in Ethiopia, this year Dioraphte choose to support a validation and research project on ‘Active Teaching and Learning,’ one of Edukans’ core programmes. This project will be carried out in 2025 in both the Netherlands and Kenya in collaboration with knowledge partners from both countries.

Schools
Edukans is grateful for the contribution of €80,275 from schools. Besides their fundraising activities, the exchange of information and expertise from both students and teachers is highly valued.

4.3 Our ambassadors

In 2024, our ambassadors Sofie van den Enk, Nick Schilder, Ron Boszhard, Bracha van Doesburgh and Martine van Os supported us greatly. They promoted us in various media and with our campaigns (‘The Greenies’ and Green Wish campaign). We are proud of our ambassadors and how they advocated for unleashing the power of education, resulting in a growing support for the work of Edukans. We look forward to resuming our activities in 2025.

Engagement & Fundraising

Funding for programmes and projects is essential to generate the desired impact on education. The constantly changing donor landscape and the role of civil society and INGOs require deep reflection and the ability to adapt to these developments, without losing focus on our mission and realisation of our strategic agenda. Therefore, the Engagement & Fundraising (E&F) team is even more committed to working in a data-driven way and staying closely attuned to the needs of diverse donor groups and evolving market trends.

In 2024, Edukans transitioned from one-off partnerships with foundations, corporations, and schools to more strategic, multi-year collaborations with these key segments. This approach strengthened our existing relationships and resulted in a renewed and more diverse stakeholder base.

Organisational culture

In 2024, as One Edukans, we reinforced our commitment to an inclusive and culturally sensitive work environment, especially in the context of working across countries and cultures. As our teams become increasingly international, we recognised the importance of bridging cultural differences and enhancing communication across diverse backgrounds.

Our efforts in 2024 reflect our belief that an organisation’s culture is not static but continuously evolving. By fostering a culture that embraces diversity and international collaboration, we strengthen our collective ability to innovate, exchange, connect, and succeed on a global scale.

Integrity

To make sure that the integrity system is completely implemented, it is necessary to keep integrity on the agenda and actively invite staff members and partners to discuss sensitive issues together, with respect for each other. Therefore, in 2025, moral deliberations will be continued to contextualise integrity and support a culture of open communication.

Edukans was founded in 2002 and is pursuing a mission to create opportunities, enabling children and young people in Eastern Africa to shape their futures with confidence. Edukans’ work could not succeed without our professional and dedicated staff across the world, our dedicated volunteers, and our ambassadors.

7.1 Organisational chart

Cornerstones approach

The essence of Edukans is built on four fundamental cornerstones:

1. Core values
2. Strategic partnerships
3. People to Value
4. Environmental Social Governance

Obviously, quality education is at the heart of the organisation.

Learn more

7.5 Supervisory Board

Members of the Supervisory Board of Edukans are appointed for a period of four years and may be reappointed twice. As of 31 December 2024 the Supervisory Board consisted of the following members:

• J. Mesman, chairman, as a member responsible for integrity, Professor (Youth & Society) at Leiden University. Field of expertise: education, pedagogical skills, diversity and inclusion (appointed in 2023).
• D.M.J. Haaksma, chairman audit committee, Director Finance, Control & Analytics at Stichting Hogeschool in Utrecht. Field of expertise: accountancy (appointed in 2022).
• K.R. Rosalina, as a member responsible for integrity, educationalist and consultant at Drakenfruit. Field of expertise: education (appointed in 2023).
• R.N. Zomer, member audit committee, Manager International Business at Evofenedex. Field of expertise: Fundraising, small medium enterprises, (appointed in 2023).

None of the members of the Supervisory Board have declared additional positions which may conflict with their membership of the Supervisory Board of Edukans. Each year, the members of the Supervisory Board receive attendance fees in line with the guidelines of Goede Doelen Nederland and CBF.

The Supervisory Board acts in accordance with the provided framework and the ‘Regulations of the Supervisory Board’. The audit committee consists of two members of the Supervisory Board. The Supervisory Board monitors continuity, supervises the realisation of strategic objectives, reviews the quality of management, and advises the management board about relevant social developments. The Supervisory Board approves the strategic plan, the annual plan and budget, the annual accounts and the annual report, including auditors report, as part of the financial planning and control cycle, and focuses on the assessment of financial management and the quality of controls. In 2023, The Supervisory Board held 5 meetings.

The current Strategic Agenda 2021-2025 was approved by the Supervisory Board in November 2020. In December 2022 the Supervisory Board approved a revision of the strategic plan supporting sustainable investment in the development of Edukans as one global organisation as part of the annual plan for 2023.

8.1 Statement of responsibility

Edukans holds a quality mark issued by the Dutch Central Fundraising Bureau (CBF). Our organisation complies with the Dutch Standards Committee (Erkenningsregeling Commissie Normstelling). In the statement of responsibility, Edukans indicates how it implements the three main principles of the CBF quality mark:

1. Distinguishing supervision, management, and performance
2. Optimisation of effectiveness and efficiency of spending
3. Optimisation of dealings with stakeholders

1. Governance structure

Edukans Foundation has an Executive Board, which consists of 1 Board member, the Chief Executive Officer who is responsible for managing the Foundation. The CEO reports to the Supervisory Board. Our organisation operates with a decentralised structure and following the subsidiarity principles, supported by an international management team that includes Country Directors / Representatives from the offices in Ethiopia, Kenya, Malawi and Uganda and from the office in the Netherlands the Manager Programmes, and Manager Engagement & Fundraising (formerly known as Marketing, Communication and Fundraising), completed by the HR Manager and Financial Controller. The CEO also serves as the chair of the International Management Team (IMT).

In Kenya, Malawi, and Uganda, we have established in-country advisory boards to comply with national laws and regulations.

To guarantee a separation of functions and to prevent conflicts of interest, no close relationships are permitted between members of the Supervisory Board and the International Management Team. In addition, no connections are permitted between any of these members and an organisation with which Edukans, in the normal course of its work, conducts transactions that can be valued in monetary terms. In case of a potential conflict of interest, this will be resolved through discussion.

2. Optimisation of effectiveness and efficiency of spending

Edukans is always seeking to improve quality. For the implementation of its educational programmes Edukans has an extensive knowledge system that monitors the quantitative and qualitative results that were targeted for each programme. This shows both the increase in the number of children and young people going to school or enjoying better quality schooling, as well as the extent to which learning outcomes have improved and whether young people experience an increase of employment opportunities as a result of the interventions by Edukans. For each programme, several qualitative results are also monitored, for example the available educational resources or the level of training of the teachers. Both the availability and quality of education are key indicators for Edukans. Through the strategic plan and the budget, Edukans determines the guiding objectives.

Following the CBF guidelines on ratios for effective and efficient spending, the management board has set standards for objectives and the costs that may be incurred to achieve the objectives. A multi-annual forecast and annual budget is prepared, discussed in the audit committee and approved by the Supervisory Board. If there is a difference between the spending of resources with that provided for in the budget this is reported to the International Management Board, addressed in the audit committee and stated in the management report to the Supervisory Board.

3. Optimisation of dealings with stakeholders

The direct stakeholders of Edukans are children and young adults, teachers and public and private partner organisations in the focus countries, donors, subsidy providers, employees and volunteers. Expectations and means of collaboration are made explicit in Memoranda of Understanding and other legal agreements. Due diligence is performed to mitigate financial, capacity and integrity risks. Contact with these stakeholders is maintained through various means of communication. Regularly, stakeholders are asked for their feedback which is then used to improve our services. Guidelines and procedures are laid down in the ISO procedure. In addition to personal contacts, collaboration with partner organisations is given substance through partner consultations, closely connected as they are with future policy development.

8.3 Compliance, quality and transparency 

Edukans, as a recipient of public funds and receiving gifts and donations from private donors, foundations and companies, churches and schools, needs and wants to be transparent, accountable and efficient. This is why continuous learning, improvement of quality, progress and efficiency are laid down in the strategic plan, the management report and the quality system (in accordance with ISO standard 9001: 2015 and the Partos Declaration 9001-2015, version 2018).

ISO 9001:2015 & Partos Declaration (version 2018)

Edukans has been ISO-certified since 2006. Edukans is certified under the ISO 9001:2015 standard and holds a valid Partos declaration (version 2018). The ISO-standard provides a quality management framework and ensures a philosophy of continual improvement, good governance, integrity and transparency. The Partos Declaration is a sector-specific application to implement ISO 9001:2015 (version 2018) which takes into consideration the specific circumstances of our work and the activities we undertake, with specific attention to integrity. Operations are audited internally and externally by KIWA, and findings are discussed with management and the Supervisory Board. At the beginning of 2024 Edukans was again assessed as having no shortcomings. The recommendations of the audit in 2023 were addressed successfully.

Central Bureau on Fundraising (CBF)

The Central Bureau on Fundraising (CBF) monitors all philanthropic bodies in the Netherlands and evaluates their management and policy in order to increase the transparency of the charitable sector. Edukans holds the CBF Seal of Approval and complies with its requirements.

Tax Authorities

Edukans is recognised by the Dutch Taxation Department as a charitable institution (ANBI), which means that donations and bequests to Edukans are not taxed. Donors can obtain income tax deductions for their contributions to Edukans.

Dutch Association of Fundraising Organisations (GDN)

The Dutch Association of Fundraising Organisations (GDN – Goede Doelen Nederland) is the umbrella organisation for philanthropic organisations that raise private funds in the Netherlands. Edukans upholds the principles of GDN in relation to respect, reliability, openness and quality.

Dutch Accounting Standards Board (DASB)

Our annual accounts are drawn up in accordance with the Guidelines (650) for Financial Reporting by Fundraising Institutions of the Dutch Accounting Standards Board (DASB). External reporting includes an annual report and accounts, which are verified by an auditor and accompanied by an auditor’s statement. Edukans has appointed Crowe Foederer as its external auditor. The external audit covers the audit of the annual accounts as well as those for various projects. The auditor does not provide any non-auditing (e.g., advisory) services.

OPTA

In its telemarketing activities, Edukans complies with the laws and regulations of the Netherlands’ Independent Post and Telecommunications Authority (abbreviated in Dutch as: OPTA). For donations via text messaging through ‘Geef SMS (4333)’, Edukans complies with the SMS Service Provision Code of Conduct and the Advertising Code.

Complaint procedure 

Should anyone wish to make a complaint, Edukans provides multiple channels and has a complaint policy, all of which are published on the Edukans websites. This includes one external channel facilitating anonymity on integrity complaints.

Net result and result distribution

In 2024 Edukans realised a net result on recurring activities of €297,912. A strong improvement on 2023 (-/- €512,040).
This improvement is also reflected in the deficit on the continuity reserve, which in 2024 was €129,554 (compared to €246,551 in 2023). The budgeted deficit on the continuity reserve was €180,678.
The net result for 2024 was distributed to restricted funds (€314,495) and earmarked reserves (€112,941). In 2024 Edukans received a legacy from a couple who were previously personally involved with Edukans’ work. This legacy will be used to strengthen Edukans’ education programmes, starting in Ethiopia. One of our corporate partners supported Edukans with a donation from its foundation. The funds will be used to validate and evaluate our interventions on ‘green education’ and ‘school gardens’.

The tables below provide an overview of the budget realisation of Edukans in 2024, and a comparison of key figures with the previous 3 years.

Income and expenses

In 2024 an amount of €5,831,845 in revenues was generated, a decrease of €627,817 compared to 2023 (-/-9.7%). Below are some notes on the development of Edukans’ income.

1. Individual giving increased by 2.9% on 2023, mostly driven by strong income from legacies.
2. Income from private profit organisations increased to an amount of €159,539 (up from €85,007). We expect further growth in the coming years.
3. Income from lottery organisations is a stable source of income due to the annual contribution of €500,000 from multi annual partnership with the Dutch Postcode Lottery. In 2023 a new contract was signed with the Dutch Postcode Lottery, extending their commitment for a further 5-year period. In 2025 the Dutch Postcode Lottery increased that amount to a standard annual contribution of €600,000.
4. In 2024 we also received additional project funding from the Dutch Postcode Lottery, for the amount of €1,990,000. This money is for our flag-ship project “Wear the Green Future” and will be allocated to our annual income in the coming years, according to project spending. For 2024 an amount of €301,794 was allocated.
5. The revenue from international grants was lower than in 2023. Edukans is targeting a number of leads with our strategic partners, but the process of transforming those leads into actual revenue takes significantly more time than originally anticipated, meaning that the growth ambition for institutional grants has not yet been realised. Edukans’ income from institutional grants was also affected by the reduction in international donor funding of national governments. This reduction is leading to reductions and delays in both existing and new programs.
6. Building on consistent and loyal support from foundations and following a renewed fundraising strategy to engage with new partners Edukans managed to maintain its revenue from non-profit organisations. We expect further growth in the coming years.

Total spending in 2024 was €5,798,656, a decrease of 18,2% as compared to 2023. This decrease largely follows from the reduction in revenue from institutional grants, which resulted in lower spending on our key educational objectives.

Edukans spent €4,312,046 on its core objectives in 2024, 20.6% down on 2023.

Spending ratios

Spending relative to income dropped because certain projects are still under development. The spending on these projects (related to €565,000 in income in 2024) will come in 2025 and 2026.

Spending on objectives relative to expenditure slightly dropped to 74.4% (down from 76.7% in 2023).

Fundraising costs ratio

In 2024, the percentage of the fundraising costs in relation to the income (excluding grants) was 20.5% (down from 26.0% in 2023), which means it costs Edukans 1 euro to raise 5 euros in donations.

Management and administration costs ratio

In 2024 management and administration costs ratio increased to 8.0%, up from 6.4% in 2023. The increase in the ratio was caused by the drop in spending on the objectives, rather than by an increase in costs (costs in 2024 were €463,353, marginally up on 2023).
In June 2024, after evaluation of the interim results, Edukans decided to develop a focused boosting strategy for 12 months, aimed at increasing income and managing expenditure in the short term. In 2025, at the end of the strategic framework 2021-2025, Edukans will redefine the organisation’s management and governance model, with the aim to bringing down this ratio to 5%.

Continuity reserves

In 2024 an amount of €129,524 was withdrawn from the continuity reserves, which leaves the reserve at €2,491,136.

Earmarked reserve “Sustainable Borderless Organisation”

An earmarked reserve of €1,100,000 was established in 2022 as part of the Sustainable International Edukans one-time gift from UnieNzv of €2,200,000. This earmarked reserve, referred to as “Sustainable Borderless Organisation”, enables Edukans to invest in developing further as a financially sustainable, innovative and professional civil society organisation.

In 2024 an amount of €127,059 was withdrawn from this reserve. €80,131 in costs were for the annual investments in the further professionalisation of the organisations in Ethiopia, Kenya, Malawi and Uganda. The remaining costs were for one-time activities in support of this process, such as desk studies and fundraising support. In 2025, when preparing the new long-term strategy for the period 2026-2030, it will be decided how investments from this reserve (with a balance of €676,532 per 31 December 2024) will be best aligned with the new strategy.

Earmarked reserve “Green Star School”

In 2024 Edukans received a donation from a corporate partner that will be used to validate and evaluate our interventions on ‘green education’ and ‘school gardens’.

Restricted funds

A balance of €314,495 was added to the various restricted funds that have been built over the previous years. In 2024 €803,543 was received in new funding, and €489,048 was spent on the project activities related to these funds.
The total amount in the restricted funds per 31 December 2024 was €1,054,505.

In 2025 the total anticipated income is €7,466,000, an increase of 28.8% compared to 2024. This increase will come from the allocation of the project funding received from Dutch Postcode Lottery (estimated at €850,000 in 2025). Edukans also expects to sign the multi-annual partnership with the Mastercard Foundation for a 5-year programme in Uganda (total value USD 4,5 million). The estimated income from the programme in 2025 is €800,000.

An amount of €95,900 from the continuity reserve will be used to fund part of the operational costs, and a budget of €194,300 will be made available from the earmarked reserves. Furthermore, €301,200 will be made available from the restricted funds in 2025.

Multi-annual forecast

2025 marks the last year of our current 5-year strategy. In the course of 2025, the new strategy will be developed. Following the strengthening of the organisation during 2024, the validation of our learning methodologies, and the investments we will make in our fundraising capacity and methodologies in 2025, we anticipate a modest further growth in revenue.
The strengthening of the organisation, combined with the validation of our methodologies, will increase our capacity te secure more, larger and longer-term institutional funding projects. This will not only lead to a growth in revenue, but also to a better cost recovery.
We expect the investments in our fundraising capacity and methodology to lead to a growth in revenue of 4-5% annually on our fundraising from private donors and foundations, based on modest projections. In more ambitious projections a growth of 8-10% is possible.
In our current five-year strategy, we are working towards a more programmatic approach through long-term strategic partnerships, resulting in more substantive and multi-year programmes which is a driver for modest growth.

FINANCIAL STATEMENTS 2024, EDUKANS FOUNDATION 

General explanatory notes and accounting principles

General

Activities
The Edukans Foundation, which was founded in 2002, has its registered office in Amersfoort and is registered at the Chamber of Commerce of the Netherlands (no. 32092131).

The foundation has two objectives:

a) Access to education and the quality of education in developing countries

b) Involving the Dutch public and in particular the educational sector in the Netherlands with this mission

and beyond this, everything that directly or indirectly relates to this or can be conducive to this, in the broadest sense of the word.

Consolidation
Since 2023 the Edukans Foundation Ethiopia, Kenya, Malawi and Uganda financial statements are included in the consolidated financial statements.

Continuity
The annual accounts have been prepared on a going concern basis.

Accounting principles for valuation of assets and liabilities and revenue recognition

The financial statements have been drawn up in conformity with the guidelines for financial reporting by fundraising organisations (RJ 650) provided by the Dutch Council for Accounting Standards (Raad voor de Jaarverslaggeving). In general, assets and liabilities have been valued at acquisition price. If no specific accounting principle is mentioned, valuation has been made at acquisition price. The actual rate differences on stocks (bonds and shares) and foreign currencies have been processed directly in the statement of income and expenditure. Income and expenditures are allocated to the year to which they relate and/or have been granted to third parties.

Estimates
In order to be able to apply the principles and rules for preparing the annual accounts, it is necessary for the management of Edukans to evaluate various matters and make estimates that can affect the amounts recorded in the financial statements. If it proves necessary, to provide the insight described in Art. 2:362 paragraph 1 of the Dutch Civil Code, the nature of these opinions and estimates, including the underlying assumptions, are described in the related notes to the financial statements.

Functional and presentation currency
The entries in the financial statements have been valued in accordance with the currency of the economic environment in which Edukans mainly operates (functional currency). The annual accounts have been prepared in euros; the euro is both the functional and the presentation currency of Edukans.

Amounts in foreign currencies are converted into euros at the rates of exchange applicable at the balance sheet date. Transactions denominated in foreign currencies are converted at the rates of exchange applicable at the time of the transaction. The average rate for the current financial year is applied.

Any resulting exchange differences are taken into account in the statement of income and expenditure.

Financial instruments
‘Financial instruments’ is understood to mean both primary financial instruments such as receivables and debts, and financial derivatives. For the principles underlying the primary financial instruments, reference is made to the treatment of each balance sheet item.

VALUATION PRINCIPLES FOR THE BALANCE SHEET

Intangible and tangible fixed assets
Software and other inventory and operating assets are valued at historical cost or manufacturingprice including directly attributable expenditure, less straight-line depreciation over their estimateduseful lives and impairment losses.

Financial fixed assets
A historical cost-based accounting system has been used. In general, assets and liabilities have been valued at acquisition price.

Participations (associates), over which significant influence can be exercised, are valued according to the net asset value method. The net asset value is calculated in accordance with the accounting principles that apply for these financial statements; regarding participations in which insufficient data is available for adopting these principles, the valuation principles of the respective participationare applied. If the valuation of an associate based on the net asset value is negative, it will be stated at nil. If and in sofar as the Edukans Foundation can be held fully or partially liable for the debts of the associate or has the firm intention of enabling the participation to settle its debts, a provision is recognised for this.

Receivables
Receivables have been recorded at fair value and thereafter at amortised cost, after deduction of the necessary provisions for the risk of non-payment.

Investments
Investments (bond and share funds) are measured at fair value. Changes in value and transaction costs are noted in income and expenditure.

Provisions
Provisions are made for legally enforceable or actual liabilities existing on the accounting date, which are likely to entail an outflow of resources, the size of which can be estimated in a reliable manner.

Debts
In the initial accounting, debts have been valued at fair value. Transaction costs that are directly attributable to the acquisition of debts have been included in the valuation in the initial accounting. After the initial accounting, debts have been valued at the amortised cost, being the amount received taking into account the premium or discount and after deduction of the transaction costs.

ACCOUNTING PRINCIPLES FOR REVENUE RECOGNITION

General
The balance (result) is defined as the difference between total income and total expenditure. The revenues are accounted for in the year in which they are realised; expenses are accounted for as soon as they are foreseeable. Income that is received in the form of goods or services is valued at fair value, to the extent that this can be determined. In such cases, this income is included in the statement of income and expenditure.

Revenues that are designated for a particular purpose have been incorporated into the statement of income and expenditure; if these revenues are not spent in full in the year under review, the unspent funds are included in the relevant earmarked reserve or restricted fund, respectively. A withdrawal from an earmarked reserve or restricted fund is recorded as an expense in the statement of income and expenditure.

Expenses are determined on a historical basis and assigned to the year under review to which they relate.

Gifts
Gifts are accounted for in the year in which a specific campaign was held, or – if no specific campaign took place – in the year in which the gift was received.

Legacies
Revenues from legacies are accounted for in the financial year if a deed of partition is available per balance date. Payments in the form of advances are accounted for in the financial year of receipt.

Government subsidies and other grants
Subsidies from governments, municipalities, etc., that are received to carry out projects or programmes, whereby the subsidy-provider acts as a financer or co-financer, have been accounted for separately in the income statement. Operating grants are accounted for as income in the statement of income and expenditure in the year in which the subsidised costs are incurred or revenues foregone, or when a subsidised operating deficit occurs. The income is accounted for if it is likely to be received and if the foundation can demonstrate the conditions for receipt.

Fundraising expenses
The costs of Edukans’ own fundraising are allocated per cost item and personnel costs on the basis of the estimated number of hours spent. Other expenses – including housing costs – are likewise attributed to the objectives based on the actual time spent by staff.

Implementation costs of own organisation
The implementation costs of the organisation are allocated per cost item and personnel costs based on estimated hours spent. The implementation costs of the organisation are divided on the basis of the amount of time spent by staff members.

Management and administration expenses
According to Guideline 650 of the Dutch Council for Accounting Standards, the statement of income and expenditure should include a separate line about management and administration costs. The management chose the model attribution method provided by Goede Doelen Nederland. The management and administration expenses are expressed as a percentage of total expenditure. The management set a target of 5% as the maximum norm for management and administration expenses.

Pensions
The Edukans Foundation has placed all employee pension schemes with the PFZW pension fund, based on the standard PFZW pension scheme (average pay scheme). Guideline 271 offers the possibility of treating this scheme as a defined contribution scheme, because:

a) the foundation is affiliated with a sectoral pension fund (PFZW) and uses the same pension scheme as other legal entities.
b) the foundation is under no obligation to make supplementary contributions, there being no rise in future premiums in the event of a deficit at PFZW.

The PFZW (pre-) pension scheme satisfies both conditions. The scheme may therefore be treated as a defined contribution scheme under RJ 271. This means that the premium invoices from PFZW have been accounted for under pension expenses and the outstanding part of the premiums under short-term liabilities.

Staff remuneration
Periodic payable remuneration such as salaries and social security expenses has been included in the statement of income and expenditure on the basis of the terms of employment, to the extent that this is owed to employees. Edukans foundation adheres to the collective labour terms and conditions of PKN.

ACCOUNTING PRINCIPLES FOR THE CASHFLOW STATEMENT

The funds in the cashflow statement consist of cash and floating stocks. The stocks can be seen as highly liquid assets. Cashflow in foreign currency has been valued at the transaction rate.

NOTES ON THE BALANCE SHEET AT 31 DECEMBER 2024

For ‘Accounts receivables’, a provision for doubtful debts is not necessary.
Prepaid expenses programmes mainly contain expenses for programmes which will be implemented in 2025.

Edukans selected Insinger Gillisen as their asset manager. The asset manager is instructed to invest following a defensive green sustainable profile.

The investment mix in fixed income (bonds) and shares is 70% fixed income and 30% shares, with a bandwidth of 10%.

Cash and bank comprise the cash and bank balances of the Edukans office in Amersfoort as well of the Country Offices in the four focus countries.

Continuity reserves

As a precautionary measure, the Edukans Foundation maintains a continuity reserve to cover setbacks in revenues and costs for a calculable period (short-term risks). Such setbacks can result from harm to the organisation’s image, for example, the short-term effects of financial crises, the loss of major donor partners or seasonal factors. Goede Doelen Nederland has set a norm for the continuity reserve of a maximum of 1.5 times the annual expenses of the work organisation. Based on the costs in 2024, the maximum continuity reserve is €5,965,265. The size of Edukans’ continuity reserve is 62.6% of the annual organisational costs (base year 2024). Management considers this sufficient for the short term, in view of expected developments in relation to both revenues and expenditure.

Earmarked reserves
Funds that have been allocated by Edukans for specific activities are accounted for through earmarked reserves. The two reserves are described below.

Sustainable International Edukans
Edukans decided to create an earmarked reserve to invest in the development of an impactful and financially sustainable international organisation. This requires further professionalisation and boosting capacity at regional and national level in our countries of operation.

Green Star School Fund
In 2024 Edukans received a donation from a corporate partner that will be used to validate and evaluate our interventions on ‘green education’ and ‘school gardens’.

Restricted funds
Gifts received for a specific purpose are accounted for through restricted funds. Major funds are described below.

Emergency aid
In 2022, a campaign was held for emergency aid in Ethiopia due to the drought. These donations were added to the Emergency aid fund, some of which has been spent on this objective and further spending will take place in 2025.

DARE2GO educational exchanges
In 2016, Edukans decided to take over the exchange programme previously provided by Youth and Mission under the brand name DARE2GO. Edukans recovered €400,000 in 2016. As of 1 January 2024, an amount of €224,015 remained. The fund will be invested in the development of new exchange programmes. Fundraising continues, with €13,015 in new funds received in 2024. As of 1 January 2025, an amount of €180,488 remained.

Teaching with Impact
The EDU Active Learning Project uses a learning resource (Correctbook) that helps learners to practice basic skills (e.g. in writing, maths, art) and carry out application and problem-solving tasks individually and together. It provides new opportunities to train teachers and reach learners at STAR schools, reach new schools, offer third parties a partnership possibility and practice training on digital platforms. Several projects have been completed and new projects related to the EDU Active Learning Project will be rolled out in 2025.

UNICEF Ethiopia
Edukans started raising funds to finance the improvement of access to safe and protective education for displaced boys and girls in Afar. UNICEF is an important cooperation partner in Ethiopia. For UNICEF projects, own contributions are raised from donors in the Netherlands. As soon as the projects are implemented, the raised contribution is transferred to the projects in Ethiopia.

Basic education Kenya
Edukans received a legacy in December 2021, to be spent on basic education in Kenya. Another amount was received from this same legacy in 2022. An implementing programme started in 2022, and this will be completed in 2025.

Skills and Employment AFAS
AFAS Foundation supports the Skills and Employment project which involves strengthening and increasing the capacity of TVETs in providing value-based, quality, market-oriented, relevant skills training to young people. The long-term impact of this project is to improve the productivity and employability of graduates of TVETs in the Kenyan labour market. This project started in 2022 and will continue to be implemented in the coming years.

Sustaining Lives and Education Ethiopia
Edukans launched a crowdfunding campaign to supply drink water, meals, and school supplies in the regions in Ethiopia that have been heavily affected by extreme drought and the war in Tigray. The programme is expected to continue to run for the coming years.

Ethiopia Greening Schools and Communities
Funded by several foundations Edukans offers education to refugees in the north of Ethiopia. The programme, which involves ‘greening’ the environment, aims to make young people and their families aware of the importance of fruit and vegetables. A curriculum on climate change has been put together to raise awareness amongst the children and within the communities affected and help them with measures to combat the effects of climate change. The programme will continue until 2026.

Rural Youth Ghana Chocolonely Foundation
Funded by the Chocolonely Foundation, Edukans started a project that aims to improve education and strengthen the position of girls, who often drop out of school and face early marriages and pregnancies. This programme is set to run until 2025.

Legacy Fund

This fund was formed in 2024 from a legacy received from a couple who were previously personally involved with Edukans’ work. It will be used to strengthen Edukans’ education programmes, starting in Ethiopia.

This provision is intended to cover expenses arising from obligations in collective labour agreements (CAOs) for staff anniversaries. The provision for anniversaries is recorded as the cash value of the expected payments during the period of employment. No interest is added to the provision.

This provision is intended to cover the direct costs of an integrity issue in one of our country offices. In addition to the direct costs, amounts are included for investigation of the issue, as well as legal advice. In 2024 expenses were made related to this, and these have been charged to this provision. Further expenses will be incurred in 2025.

Prepaid amounts international grants represent received grants for defined projects which continue in 2024. The grants are mainly received from International World Wide (€215,218) and UNHCR Ethiopia (€46,997).

The changes in liabilities for education projects and development cooperation can be summarised as follows:

The commitments during the year are the contractual commitments entered into during the year. The payments are the payments made relating to commitments.

The amount ‘projects development cooperation’ of €772,243 represents conditionally committed funds by international partners for the coming years.

Edukans has a total lease obligation for the office in Amersfoort of €228,324 for the coming 3 years.

NOTES TO THE STATEMENT OF INCOME AND EXPENDITURE, 2024

Incoming revenues
In 2024 an amount of €5,831,845 in revenues were generated, a decrease of €627,817 compared to 2023 (-/- 9.7%).

Revenues from individual giving consist of €2,499,012 of donations and gifts and €469,023 of legacies.

Lottery organisations
The income from Lottery organisations concerns the donation from multi annual partnership with the National Postcode Lottery of the Netherlands. In addition, in 2024 Edukans received additional project funding of €1,990,000, from which an amount of €301,794 was spent on the Wear the Green Future project.

In 2024, opportunities for securing educational funding through institutional fundraising were limited. Furthermore, the process of converting leads into revenue and working together with strategic partners, takes significantly more time than originally anticipated. Also, in 2024 Edukans’ revenue was affected by the reduction of international donor funding, leading to reductions/delays of both existing and new programmes. Edukans is forging strategic partnerships to effectively transform this trend in a positive direction.

The salaries, social security expenses, pension expenses and other staff costs have been allocated in accordance with the estimated hours spent. The direct project expenses consist of expenses that are directly attributable to the objectives (including materials and travel costs). The other costs are likewise attributed to the objectives in accordance with the estimated time spent by the staff.

(Project) subsidies granted and (project) contributions

Elsewhere in the annual report, we explain how we achieved our objectives and what this entailed.

Direct project expenses (for example materials, travel expenses) are those spent on objectives.

The communication expenses cover items such as leaflets, posters and other printed matter, but also public campaigns, the website and Edukans’ WIJS! magazine. This allows us to inform our donors, supporters and partners about our results.

In order to allocate the management and administration expenses, the management of Edukans selected the model provided by Goede Doelen Nederland. This model states that expenses that are not directly attributable to the objectives fall under ‘management and administration’. The costs of the director of Edukans, ICT and human resource management have been attributed proportionally to the objectives and to ‘management and administration’. The following overview shows in percentages the extent to which the cost types have been attributed to ‘management and administration’:

The salary of the director of Edukans is in conformity with the Dutch Civil Servants’ Pay Decree (BBRA). The managing director of Edukans has a maximum salary set at scale 16. This remuneration falls within the norms of the GDN (Goede Doelen Nederland) annual income, which for Edukans is set at 440 BSD points. According to the GDN norm, the managing director’s salary may not exceed €136,639 (full-time). The directors are not awarded any loans, advances or guarantees.

The pension costs concern the employer’s share of the premium owed to the sectoral pension fund.

The GDN norm for the total amount for remuneration is €169,660 (full-time).

Renumeration of the supervisory board

For their supervisory board role for Edukans’ Supervisory Board, Mrs. J. Mesman, Mrs K.R. Rosalina, Mr D.M.J. Haaksma and Mr R.N. Zomer received €827.50 per person. Following a revision of the policy in 2023, in 2024 additional payments of €496.50 per person were made to Mrs J. Mesman, Mrs K.R. Rosalina and Mr R.N. Zomer.

Edukans selected Insinger Gillisen as their asset manager. The asset manager is instructed to invest following a defensive green sustainable profile.

The investment mix in fixed income (bonds) and shares is 70% fixed income and 30% shares, with a bandwidth of 10%.

The unrealised and realised result is calculated by respectively deducting the market value and the sales value in the financial year less the valuation at the beginning of the financial year.

Other information

Adoption and approval of accounts

The 2024 annual accounts were adopted by the management and approved by the Supervisory Board at the meeting of 22 May 2025.

Result allocation

The management determined the result allocation in accordance with the result appropriation set out in the statement of income and expenditure.

No events have yet occurred in 2025 that have an influence on the net assets at the end of 2024 and the results for 2024.

Auditor’s report
The auditor’s report by an independent audit firm has been included hereafter.