Sources of Financing

The CASE Foundation raises funds for its statutory activities through two types of financing mechanisms:

1. Project-based funding - funds obtained by CASE for the implementation of specific projects (see Annual Report for further information). These funds constituted the large majority of CASE current statutory revenues (97.85% in 2007) and totalled 8,654,646.01 PLN in 2007.

2. Institutional support - general donations granted to CASE by different institutions to be used according to CASE statutory goals and at the discretion of CASE Management.  These funds totalled 190,000.00 PLN in 2007.

In addition, in 2007 CASE raised funds for its endowment.

Revenues for statutory activities in 2007

From the financial point of view 2007 was a record year for CASE.  Revenues totalled PLN 9,645,225.46 and increased by PLN 2.5 millions as compared with the previous year, that is a 34.8% increase. 

Revenues consisted of revenue for statutory activity, operating and financial revenue.  The bulk (98.5%) of funds came from revenues for statutory activity.

Project-based funding and institutional support together constituted revenue for statutory activities that totalled PLN 8,844,646.01 in 2007.In terms of financing sources, these funds were obtained from the following institutions (as a % of the total). 

European Commission funding dominated in 2007, as was true a year earlier, when it accounted for an even bigger portion of the CASE budget (55,4%).  Other public sources ranked second, constituting close to 36% of the funding received for statutory activities.  Grants from private sources amounted to 14.4%.

Institutional support in 2007 came to a total of PLN 190,000.  This was 2.15% of CASE statutory revenue and was received from Rabobank Poland SA, Westdeutsche Landesbank Polska S.A. and PEKAO SA.  CASE management decided to use these funds mainly for co-financing research projects, publication activities, and for subsidizing the participation of CASE experts in conferences and trainings.

Endowment

In 2007, CASE continued to build its endowment in order to strengthen its long-term financial stability and independence and improve its capacity to carry out large-scale EU research projects.  While income from endowment investments may be used for financing current statutory activities, the endowed funds will accumulate indefinitely.  Their proper use is ensured by the Endowment Regulations that set out clear rules for fundraising, investing and using endowed funds, while outstanding experts in the area of finance have been appointed members of the Investment Committee to advise CASE management on investment strategies.

As of 1 January 2007, the CASE endowment came to a total of 1,883,028.02 PLN.  In the course of the year, it increase by PLN 555,555.50 (29,5%), and by the end of the year it reached the level of PLN 2,369,473.49 (or EUR 626,364.29).  The income earned on investment in 2006 was used in 2007 for the institutional development of CASE.  The income earned in 2007 will be used in 2008.