Financial statements

Donaties 2022

• 1The table only shows donations received and disbursements made in the form of grants. Other withdrawals or deposits (such as bank charges) are not listed here.

Notes to the financial statements

The Tilburg University Fund is included in the 2022 consolidated financial statements of Tilburg University. Tilburg University provides financial resources so that the university fund can carry out its work. The fund is facilitated by the Development and Alumni Relations Office (DARO). Its employee and other expenses are therefore recognized in the financial statements of Tilburg University.

Donations received (revenue)

The revenues of the Tilburg University Fund amounted to €358,778 in 2022. Donations to the university fund consist of:

• bequests and endowments

• other donations, gifts and contributions

• grants

• sponsorship funding

• other lawfully acquired financial resources

Investments

In 2021, the university fund, on behalf of a major donor, instructed an external party to start investing part of its assets. As long as donations remain unallocated, the external party will invest on behalf of the donor in accordance with a risk profile selected by the donor. This specifically concerns the assets belonging to the Women of Bethany named fund. In 2021, the sum of €624,000 was invested through an asset manager (ABN AMRO). At the end of 2022, the total value was €538,932, of which €517,845 was in securities and €21,087 in liquid assets. The year 2022 saw a negative return of €83,123 on the investment portfolio, with the bank charges for managing the account amounting to a total of €6,458.

Grants disbursed (expenses)

In 2022, a total of €345,246 was paid to or made available for the benefit of Tilburg University, its employees, students, and alumni, in accordance with the criteria laid down by the board of the university fund and, where applicable, in line with any wishes expressed by donors.

Other expenses

The other expenses of the university fund in 2022 amounted to €7,335. They consisted of bank charges, interest expenses, and other costs.

Accounting policies

Liquid assets are carried at nominal value. The investment portfolio consists of securities valued at their current value (fair value). The current value of listed securities is the same as the market value. The current value of non-listed securities is calculated with the help of generally accepted valuation models and techniques. The income and expenditures have been included in accordance with the cash accounting method.

Operating results

The cash flow of the university fund is divided over a number of funds. Donations received and disbursed are allocated to these funds. Detailed information can be found under Notes on funds.

A large proportion of donations are pledged over a period of several years. Disbursements to projects can also be spread over several years. 2022 saw a negative operating result, due to the negative return on securities.

Since 2021, a distinction has been made between the general reserve and the special-purpose reserve. The general reserve is freely available to the fund (within clear parameters). The special-purpose reserve is linked to specific objectives set by donors.

• 1Following an audit of the financial statements, it has emerged that an erroneous entry was made concerning the results from the investment portfolio. The negative result should have been €79,362, and not €83,123. A correction to this effect will be incorporated in 2023.