DIE ERSTE österreichische Spar-Casse ... - ERSTE Stiftung

Total fundings &
project expenses
8,468.4 7,588.1 7,839.3
The charitable sphere comprises three categories of payments: Fundings for projects, direct
project expenses and the building of and the investment in adequate organisations which fulfil
the foundation aims through specific tasks. With fundings, funds are provided directly and
charitably to project partners who co-develop and implement projects. The costs for the
development of projects, preparatory workshops, drawing up feasibility studies and research
work are typical direct project costs. Direct project expenses do not contain personnel
expenses but only non-cash benefits and services which are purchased. Good.bee is an
initiative of ERSTE Foundation and Erste Group Bank in the area of microfinance and social
entrepreneurs. ERSTE Foundations holds 40%, and Erste Group Bank holds 60% in
good.bee Holding. The development and implementation of alternative financial services are
a strategic focus.
In EUR thousands
(rounded)
Investments in fixed
assets
Total investments in
fixed assets
2009 2010 September
2011
637.6 68.3 158.5
637.6 68.3 158.5
Personnel expenses 2,272.7 2,407.4 1,930.1
General
administrative
expenses
Expenses affiliated
company
Total administrative
expenses
1,975.6 2,105.4 1,900.0
36.1
4,248.3 4,512.8 3,866.2
The predominant part of the personnel and general administrative expenses are indirect
project expenses. They also comprise all employees which directly co-develop, evaluate,
prepare, select, control and accompany the projects.
Net interest income
and taxes
Non-profit activities
-49,295.4 -54,322.3 -32,972.5
Between 12% and 15% of the income earned from investments of ERSTE Foundation are
invested in non-profit projects developed by ERSTE Foundation and its partners.
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