Wikimedia chapters/Reports/Wikimedia Eesti/Financial statement 2014

This is the unofficial English translation of the Estonian original of financial statement of the year 2014 of Wikimedia Eesti. For further information You can consult Estonian original here.

General informationEdit

Beginning of fiscal year: 01.01.2014
End of fiscal year: 31.12.2014
Name: Mittetulundusühing Wikimedia Eesti (Non-profit organisation Wikimedia Eesti)
Estonian registry code: 80316310
Address: Lai 6
City: Tartu
County: Tartu
Postal code: 51005
Phone number: +372 58145381
E-mail address: wikimedia.eesti@gmail.com

Activity ReportEdit

The Aim of ActivityEdit

Non-profit organisation Wikimedia Eesti has as its aim supporting of the collection, preservation and distribution of educational, scientific, cultural and historical data available under a free license, especially in Estonian and Võro languages and making more freely licensed information available about Estonia in other languages, as well as providing support to activities and projects of international non-profit organization Wikimedia Foundation.

Main Activities of Year 2014Edit

The main activity of Wikimedia Eesti in year 2014 was supporting the improvement of the content of Estonian Wikipedia and bringing Estonia-related media content to Wikimedia Commons through various competitions, bees and training activities. As a direct result of the activity of Wikimedia Eesti more than 300 articles in Estonian and Võro Wikipedia were added or significantly improved and almost 2200 pictures were published in Commons under a free license. Main expenses for such activities are expenses for prizes and various administrative costs. Wikimedia Estonia does not pay directly to collaborators on Wikipedia and other Wikimedia projects for their work.
A second important field of activity of Wikimedia Eesti in year 2014 was active participation in the gatherings of international Wikimedia movement with the main cost article of traveling expenses. In year 2014 Wikimedia Eesti was presented with 3 representatives on the Wikimedia Conference in Berlin and Wikimania in London. 2 representatives of Wikimedia Eesti took part of the meeting of Wikimedians from Central and Eastern Europe in Kyiv.

Financial Sources in Year 2014Edit

In year 2014 Wikimedia Eesti received grants from Wikimedia Foundation to carry out its programmatic activities and cover administrative costs. The expenditure period of the grants does not correspond to the fiscal year of Wikimedia Eesti, but allthe activities related to the grants were carried out in the year 2014 and as a result from the year 2015 funding from Wikimedia Foundation is in accordance with the fiscal year of Wikimedia Eesti.
In the end of December of year 2013 a contract was signed with Estonian Ministry of Education and Research for wikipedization of the research work of the students of secondary schools in Estonia and the activities related to this funding were carried out during the whole fiscal year. As the initial model for the project proved to be ineffective, in the last quarter of the year 2014 the project was restructured and activities will be continued in the year 2015.
In addition in year 2014 Wikimedia Eesti received targeted grants from the Council of Gambling Tax, Ministry of Culture, as well as from national Kindred Peoples' Programme. The project related to the grant form the Council of Gambling Tax was executed partially.
The percentage of non-targeted funding in the financial sources of Wikimedia Eesti remains very small.

Investments in Year 2014Edit

In year 2014 Wikimedia Eesti did not make any remarkable investments.

Important Developments in Year 2014Edit

In 2014 Wikimedia Eesti continued with the process of professionalization. In Spring appraisal intreviews with the board assistant and project writer and as a result the position of project writer was restructured to the position of an executive director and the position of the board assistant to the one of assistant supporting both executive director and the board.
In year 2014 Wikimedia Eesti continued its activity on a wide scope and in the end of the year these activities were grouped under 3 programmatic fields: 1) work with the community, 2) education program and 3) developing collaboration with possible partner organisations.
Wikimedia Eesti has increased its collaboration with international community and discussions with possible local partners, which may have a positive effect on the future activities of Wikimedia Eesti. In the framework of education program, collaboration with Ministry of Education and Research, as well as University of Tartu will be continued. A temporary project of increasing environmental awareness through Wikipedia has been launched with the support of Environmental Investment Center with its main activities carried out in year 2015.


Wikimedia Eesti jätkas 2014. aastal strateegiatööd ning selle põhjal valmis lühiajaline strateegia, mis võimaldab ühingul tegutseda koordineeritumalt.

In the end of the year 2013 an agreement was made with Estonian Ministry of Education and Science to carry through a pilot project of wikipedization of research work of students of Estonian secondary schools and on the 30th of November Wikimedia Eesti hired 2 employees related to the project. In the framework of the project involvement of other employees is planned on the basis of agency agreements and employment contracts.
In year 2014 Wikimedia Eesti continued its strategy work and as a result a short-term strategy was formed, which helps the organisation to operate in a more coordinated manner.

Human ResourcesEdit

As of the 31st of December 2014, Wikimedia Eesti had 34 members.
In 2014 Wikimedia Eesti continued with its hired employees and went through a restructuring process of its payed staff. As a result Wikimedia Eesti has an executive director since the 1st of July 2014 with a termless contract. Obligations related to this position will be covered with the funds received from Wikimedia Foundation.
In relation to the educational pilot project 3 contractors were hired to fill different positions and a contract was signed with the trainer, whose activities will continue also in year 2015. Also a project based position was created to coordinate Wiki Loves Monuments competition in Estonia. This project was finished by the end of the fiscal year.
In the beginning of year 2014 Wikimedia Eesti had 3 members of the board, but in February one of them resigned. On the General Assembly held in March 2014 2 new members were elected to the board and since then Wikimedia Eesti operates with a 4-member board. There is no position of Chairman in the board.
During the year 2014 board members did not receive neither wage nor remarkable benefits in kind. One of them was employed in relation to the education project.

Financial StatementEdit

Balance SheetEdit

(in euros)

31.12.2014 31.12.2013 Appendice No
Assets
Current Assets
Cash and Cash Equivalents 32,032.00 45,827.00 2
Accounts receivable and deferred expenses 1,889.00 588.00
Total Current Assets 33,921.00 46,415.00
Total Assets 33,921.00 46,415.00
Liabilities and Equity
Liabilities
Current Liabilities
Accounts payable and deferred income 5,056.00 2,279.00 4
Targeted fees, donations, subsidies 25,902.00 0.00
Total Current Liabilities 30,958.00 2,279.00
Long-term Liabilities
Targeted fees, donations, subsidies 0.00 41,149.00 5
Total of Long-term Liabilities 0.00 41,149.00
Total Liabilities 30,958.00 43,428.00
Equity
Accumulated retained earnings from previous periods 475.00 2,757.00
Retained earnings from fiscal year 2,488.00 230.00
Total Equity 2,963.00 2,987.00
Total of Liabilities and Equity 33,921.00 46,415.00


Income StatementEdit

(in euros)

2014 2013 Appendice No
Income
Membership fees 170.00 150.00 6
Donations and subsidies 69,981.00 18,687.00 7
Income from business activity 2,209.00
Other incomes 0.00 50.00
Total Income 72,360.00 18,887.00
Expenses
Direct expenses of projects with targeted funding -32,292.00 -3,702.00 8
Various operating costs -12,851.00 -11,036.00 9
Labour costs -24,703.00 -3,920.00 10
Other expenses -27.00 0.00
Total Expenses -69,873.00 -18,658.00
Result from Operating Activities 2,487.00 229.00
Other Financial Incomes and Expenses 1.00 1.00
Retained Earnings from Fiscal Year 2,488.00 230.00


Statement of Cash FlowsEdit

(in euros)

2014 2013 Appendice No
Cash Flows from Operating Activities
Result from operating activities 2,487.00 229.00
Change in accounts receivable and deferred expenses related to operating activities -1,301.00 688.00
Change in accounts payable and deferred income related to operating activities 2,777.00 2,217.00
Income from targeted fees, donations and subsidies -17,759.00 35,910.00
Other cash flows from operating activities 0.00 -17.00
Total of Cash Flows from Operating Activities -13,796.00 39,027.00
Cash Flows from Investing Activities
Interest received 1.00 1.00
Total of Cash Flows from Investing Activities 1.00 1.00
Total of Cash Flows -13,795.00 39,028.00
Cash and cash equivalents in the beginning of the fiscal year 45,827.00 6,799.00 2
Change in cash and cash equivalents -13,795.00 39,028.00
Cash and Cash Equivalents in the End of the Fiscal Year 32,032.00 45,827.00 2


Statement of Changes in EquityEdit

(in euros)

Accumulated Retained Earnings Total Equity
31.12.2012 2,774.00 2,774.00
Retained Earnings from Fiscal Year 230.00 230.00
Other Changes in Equity -17.00 -17.00
31.12.2013 2,987.00 2,987.00
Retained Earnings from Fiscal Year 2,488.00 2,488.00
Other Changes in Equity -2,512.00 -2,512.00
31.12.2014 2,963.00 2,963.00

AppendicesEdit

Appendice 1 Accounting PoliciesEdit

General InformationEdit

The 2013 Financial Statement has been composed on the basis of Estonian Accounting Standard. The main requirements of the Estonian Accounting Standard are presented in the Accounting Act, supplemented by the Guidelines of the Accounting Standards Board.
Any materially fixed, known, and potential liabilities are reflected in the balance.
In reflecting incomes and expenses the accrual method of accounting has been implemented. According to this principle, income and expenses will be presented as part of the reporting period they are related to, regardless of actual cash flows.
Financial statement has been composed in euros. Financial statement has been composed in the time period from the 1st February 2015 to 30th May 2015.

CashEdit

Cash in treasury and bank account balances are considered as cash and its equivalents in cash flow statement. Foreign exchange currency accounts are presented as of 31.12.2014 with the exchange rate of European Central Bank.

Accounts Receivable and Deferred ExpensesEdit

Accounts receivable and deferred expenses are evaluated on the basis of the accrual method of accounting.

Material and Immaterial Fixed AssetsEdit

Assets will be registered as fixed assets if their value exceeds 639 euros and 12 cents.

IncomeEdit

Income is presented on the basis of the accrual method of accounting.
Income from membership fees is presented for the period for which they are accounted for.
Received donations and subsidies (incl. assets from collections and targeted income) are accounted according to the following principles:
  1. Non-targeted donations are depicted as income at the moment their accrual is practically certain (considering, if necessary, the period they have been paid for);
  2. targeted donations and subsidies (incl. non-monetary donations and subsidies) are depicted on the basis of principles of targeted financing accounting as presented in Guide RTJ 12 (income is depicted in time periods where expenses for which the donations and subsidies have been allocated occur).

Appendice 2 CashEdit

(in euros)

31.12.2014 31.12.2013
Cash in Treasury 51.00 58.00
Bank Accounts 31,981.00 45,769.00
Cash Total 32,032.00 45,827.00

Appendice 3 Tax Advances or ArrearsEdit

(in euros)

31.12.2014 31.12.2013
Tax Advances or Arrears
Income Tax of Business 92.00 0.00
Income Tax 1,533.00 166.00
Social Tax 2,733.00 370.00
Pension Expenses 187.00 22.00
Social Security Costs 260.00 34.00
Interest 14.00 2.00
Total of Tax Advances or Arrears 4,818.00 594.00

Appendice 4 Accounts Payable and Deferred IncomeEdit

(in euros)

31.12.2013 In 12 Months In 1-5 Years More than 5 Years Appendice No
Trade Payables 193.00 193.00
Tax Arrears 4,819.00 4,819.00
Other Payables 24.00 24.00
Deferred Income 20.00 20.00
Total of Accounts Payable and Deferred Income 5,056.00 5,056.00
Distribution According to Due Date
31.12.2013 In 12 Months In 1-5 Years More than 5 Years Appendice No
Trade Payables 2.00 2.00
Payables to Employees 1,493.00 1,493.00
Tax Arrears 594.00 594.00
Other Payables 153.00 153.00
Deferred Income 37.00 37.00
Total of Accounts Payable and Deferred Income 2,279.00 2,279.00

Appendice 5 Targeted Fees, Donations and SubsidiesEdit

(in euros)

Gross Method

31.12.2012 Received Income 31.12.2013
Targeted Financing for operating activities
Wikimedia Foundation 5,239.00 26,668.00 -16,249.00 15,658.00
Estonian Ministry of Education and Science 27,000.00 -1,509.00 25,491.00
Estonian Research Council 600.00 -600.00 0.00
Municipality of City of Tartu 300.00 -300.00 0.00
Total of Targeted Financing for Operating Activities 5,239.00 54,568.00 -18,658.00 41,149.00
Total of Targeted Fees, Donations and Subsidies 5,239.00 54,568.00 -18,658.00 41,149.00
31.12.2013 Received Returned Income 31.12.2014
Targeted Financing for operating activities
Estonian Ministry of Education and Science 25,491.00 -15,236.00 10,255.00
Wikimedia Foundation 15,658.00 47,028.00 -51,446.00 11,240.00
Estonian Ministry of Social Affairs 1,700.00 -500.00 1200.00
Estonian Ministry of Culture 1,890.00 -1,195.00 695.00
Fenno-Ugria Foundation 2,000.00 -531.00 -1,469.00
Grant Reserves 2,512.00 2,512.00
Total of Targeted Financing for Operating Activities 41,149.00 55,130.00 -531.00 -69,846.00 25,902.00
Total of Targeted Fees, Donations and Subsidies 41,149.00 55,130.00 -531.00 -69,846.00 25,902.00

Appendice 6 Payments from MembersEdit

(in euros)

2014 2013
Non-Targeted Fees
Membership Fees 170.00 150.00
Total of Payments from Members 170.00 150.00

Appendice 7 Donations and SubsidiesEdit

(in euros)

2014 2013
Targeted Financing for Operating Activities 69,846.00 18,657.00
Non-Targeted Donations and Subsidies 135.00 30.00
Total of Donations and Subsidies 69,981.00 18,687.00

Appendice 8 Direct Expenses of Targeted Financed ProjectsEdit

(in euros)

2014 2013
Science Photo of the Year 15.00 800.00
Wiki Loves Monuments 1,852.00 539.00
Digitization Program 105.00 6.00
Fenno-Ugric Seminar 3,123.00 0.00
Translation Bee 334.00 211.00
Latvian Expedition 201.00 158.00
Environmental Awareness Project 2,150.00 0.00
Freedom of Panorama 1,200.00 0.00
Publishing of Free Culture 4,246.00 0.00
Small Projects 352.00 144.00
Tartupe(e)dia 935.00 335.00
Wikipedization of Research Work of Secondary School Students 15,236.00 1,509.00
Visit to Armenia 1,068.00 0.00
Gender Equality Project 600.00 0.00
Itinerant Exhibitions 572.00 0.00
University Course on Wikipedia 303.00 0.00
Total of Direct Expenses of Targeted Financed Projects 32,292.00 3,702.00

Appendice 9 Various Activity ExpensesEdit

(in euros)

2014 2013
Rent 1,669.00 120.00
Various Office Expenses 785.00 163.00
Traveling Expenses 7,179.00 6,704.00
Training Expenses 248.00 770.00
Transport Expenses 470.00 349.00
Banking Services 74.00 51.00
IT Costs 19.00 24.00
Advertising Expenses 684.00 705.00
Hiring Costs 0.00 1,019.00
Motivational & Strategy Events 926.00 754.00
Other Expenses 797.00 377.00
Total of Various Activity Expenses 12,851.00 11,036.00

Appendice 10 Labour ExpensesEdit

(in euros)

2014 2013
Salary Expenses 31,979.00 4,418.00
Social Security Taxes 11,465.00 995.00
Total of Labour Expenses 43,444.00 5,413.00
Depicted as Direct Expenses of Targeted Financed Projects 18,741.00 1,493.00
Number of Employees Reduced to Full-time Positions 2 1

Appendice 11 Involved PartiesEdit

Number of Members by the End of Fiscal Year
31.12.2014 31.12.2013
Number of Natural Person Members 34 33


Payments and Other Benefits in Kind Calculated for the Executive and Higher Management (in Euros)
2014 2013
Calculated Payment 16,914.00 0.00

SignaturesEdit

Financial statement was finished on the 30th of June 2015

Correctness of the financial statement of Wikimedia Eesti (registry code 80316310) for the period 01.01.2014-31.12.2014 has been digitally verified by:

Name Role Date of Signature
Teele Vaalma Board member 30.06.2015
Eva Lepik Board member 30.06.2015
Sven-Erik Soosaar Board member 30.06.2015
Tanel Pern Board member 30.06.2015