Financial accounts

The Foundation is funded by public donations collected during the so-called “Grand Finale of the Great Orchestra of Christmas Charity”, an event which has been organized by the Foundation annually since the very beginning of its existence in 1993.

The final sum of money raised during each of the Finale events is confirmed in a bank statement and publicly announced on the last day of February. Also at that time, the Ministry of the Interior and Administration receives a report on the money collected during the Finale (every year, the Ministry grants us permission to organize the event again, as it is regulated in the Public Money Collection Bill from March 15, 1933 with subsequent amendments).

Then the Foundation investigates the requests for equipment which have been submitted by hospitals from all over Poland to see which of them best suit the Finale’s theme. In order to best analyze the needs, the Foundation consults medical experts. Only then, the Donors’ Council passes a resolution on the type of medical equipment which will be bought by tender. The decision made in accordance to the Finale’s goal.

The next step are the tenders which allow the Foundation to select the best equipment and medical devices. A report on every tender is delivered to the Ministry of the Interior and Administration. Finally, when all contracts have already been paid and all financial settlements have been made, the Foundation produces a general financial report, in which it informs the Ministry about the type of the purchased equipment, its quantity, value as well as where it has been donated.

A yearly balance sheet of the Foundation is first examined by an accounting company and then sent to: the Commercial Register Court, the reginal Tax Office, the official Internet register of public benefit organizations in Poland (http://bopp.pozytek.gov.pl) – for the full transparency of our work – and to the Ministry of Health. The Ministry of Health also receives an additional yearly report on our activities, prepared according to the general report guidelines as formed in the Minister of Justice Regulation from April 8, 2001. Since the moment when WOŚP became a public benefit organization, we have also been obliged by law to report to the Minister of Labor and Social Policy.

On its website, the Foundation publishes the financial results of the fundraising events, the report sent to the Ministry of the Interior and Administration, and the balance sheet. Also, it publishes the list of purchased medical devices and the list of hospitals which have received the donations.

All the money raised during the annual Grand Finale is spent on medical equipment and used to fund medical programs.

The administrative costs are covered from bank interests and other donations made throughout the year.

Both the Grand Finale and Przystanek Woodstock Festival are funded by our sponsors. Every year, the Foundations seeks donations for these events anew.

Among the costs connected with the Foundation’s statutory activity (i.e. administrative activity) there are: salaries and social security benefits of the Foundation’s workers; costs of keeping the office and of transportation; bank, post, telecommunication, legal, courier and transportation services, office supplies, electricity charges, rents, taxes, insurance charges and other charges, and many others. We are trying to keep the office operating costs as low as possible. It is, however, difficult, as the Foundation is becoming involved in a growing number of medical initiatives which are not only connected with medical equipment but also with running more and more medical programs.

At present, the Foundation is running and funding the following programs: Universal Neonatal Hearing Screenings Program, The Infant Flow Non-invasive Breathing Sustention in Neonates Program, Personal Insulin Pumps in Diabetic Children Therapy Program, Retinopathy of Prematurity Prevention and Treatment Program and the CPR for Schools Educational Program.

Additional funds obtained by the Foundation throughout the year, which have been mentioned before, are used to:

1.    Purchase additional medical equipment;
2.    Cover the costs connected with the Foundation’s statutory activity, that is:

a.    the workers’ salaries;
b.    taxes and other charges;
c.    office operation costs;
d.    bank, post and telecommunication services, as well as other services;
e.    promoting the Foundation in Poland and abroad by, for example, taking part in medical conferences connected with the Foundation’s medical programs, assisting the victims of natural disasters, and organizing concerts for young Poles to thank them for their annual involvement with the Grand Finale,
f.    promoting anti-drug and anti-violence actions;
g.    initial costs of preparing the next Grand Finale.

The Foundation would like to thank all our donors and sponsors!