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  AUDITOR'S REPORT
 
EUROPEAN CENTER FOR NOT-FOR-PROFIT LAW KHT.
Public Benefit Report
Year 2004

1.
The Quotaholders' Meeting approved the Accounting Report of the Company on May 31, 2005. The Accounting Report was signed by the Managing Director and certified by the auditor. The Accounting Report (Simplified Annual Report Balance Sheet and Activity Statement) can be found in the next pages of the present Annual Report.

2.
The Company did not receive any support from the Hungarian Government central budget in 2004.

3.
The assets of the Company were used for the purposes described in this Annual Report. The financial breakdown of how these were used is laid out in the Accounting Report.

4.
The Company did not provide any financial support to private or legal persons during 2004.

5.
The Company did not receive financial or other support in 2004 from the Hungarian Government central budget, central fund, local government, association of local governments, social security self government or any of their agencies thereof.

6.
The Company did not pay a salary to the Quotaholders, the Supervisory Board Members or the Managing Director during 2004. Members of the Supervisory Board did receive reimbursement for travel and accommodation expenses connected with their Board meeting attendance.

7.
The narrative activity report of the public benefit activities of the Company is as follows. The Company conducted research and prepared analysis on law and policy affecting NGO/government partnership to support the development of a framework for cooperation in Latvia. The Company conducted research and analysis on the legal framework for social services in Hungary for a project in Bulgaria. The Company conducted a training on civil society law for UNDP staff in Bratislava. The Company assisted with the implementation of NGO law reform projects in Bosnia, Croatia, Macedonia and Serbia. The Company prepared a comprehensive analysis of NGO law reform needs in Hungary. The Company conducted an assessment of the NGO legal framework in Montenegro. The Company provided technical assistance in Macedonia on legal mechanisms of percentage philanthropy. The Company helped teach the Nonprofit Law Clinical Course and hosted research interns at its office.

8.
The Quotaholders' Meeting approved this Public Benefit Report and its publication in the Annual Report on May 31, 2005.

 
  PUBLIC BENEFIT REPORT
 

ECNL KHT.
Public Benefit Report
Statement of operations as December 31, 2004

Nr. Category Previous year HUF* Current year HUF*
1 A. Total Income from Public Benefit Activity (1+2+3+4+5) 2 152 37 482
2 1. donations 1 571 33 329
3 a) from founder 1 571 33 329
9 3. from public benefit activity 569 4 011
11 5. other income 12 142
13 C. Total Income (A+B) 2 152 37 482
14 D. Expenditures of Public Benefit Activity (1+2+3+4+5+6) 1 926 35 758
15 1. material expenses 1 472 13 664
16 2. personnel expenses 388 17 560
17 3. depreciation 6 121
18 4. other expenses   3 620
19 5. expenditures of financial transactions 60 793
28 F. Expenditures of all Activities (D+E) 1 926 35 758
29 G. Results Before Taxation (B-E)    
32 J. Current Year Public Benefit Result (A-D) 226 1724


Supplementary data
33 A. Personnel Costs 17 560
34 1. Salaries 12 926
35   From salaries: commisional fees 239
37 2. Other personnel type costs 178
38 3. Overhead on personnel costs 4 456
39 Subsidies by the organization 2 851


ECNL KHT.
Public Benefit Report
Balance sheet as December 31, 2004

Nr. Category Previous year HUF* Current year HUF*
1 A. Fixed Assets (2-5) 73 349
2 I. Intangible Assests    
3 II. Tangible Assets 73 349
4 III. Long-Term Investments    
5 IV. Long-Term Investments Value Correction    
6 B. Current Assets (7-10) 2 604 12 065
7 I. Inventory    
8 II. Accounts Receivable 333 406
9 III. Short-Term Investments    
10 IV. Cash & Cash Equivalents 2 307 11 659
11 C. Prepaid Expenses 833 41
12 Total Assets (1+6+11) 3 546 12 455
13 D. Net Worth (14-19) 3 233 4 957
14 I. Start-Up Fund Balance 3 000 3 000
15 II. Change in Fund Balance 7 233
16 III. Reserves    
17 IV. Valuation Reserves    
18 V. Current Year Public Benefit Result 226 1 724
19 VI. Current Year Result from Financial Activities    
20 E. Provisions    
21 F. Liabilities (22-23) 60 665
22 I. Long-Term Liabilities    
23 II. Short-Term Liabilities 60 665
24 G. Acrued Expenses 253 6 833
25 Total Net Worth and Liabilities (13-20,+21+24) 3 546 12 455

* Note: amounts shown are in thousands 		 
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ECNL TURNS 10!
ECNL, founded on June 19th, 2003, celebrates its 10th anniversary this year. We thank all our colleagues, partners and donors who have made this decade an exciting journey and have helped us grow into a leading European research center in the field of civil society law.

 
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