Oxfam novib Annual Accounts 2017-2018

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Oxfam novib Annual Accounts 2017-2018
oxfam
novib
Annual
Accounts
2017-2018
Oxfam novib Annual Accounts 2017-2018
oxfam
novib
Annual
Accounts
2017-2018

In line with Oxfam International, our reporting period
covers the fiscal year April 1, 2017 to March 31, 2018.
The Annual Report and Annual Accounts are available
online at oxfamnovib.nl/jaarverslag.

                                                          2017/2018 3
Oxfam novib Annual Accounts 2017-2018
CONTENTS
                      Oxfam Novib Annual
                      Accounts 2017-18
                      1 Directors’ Report                               9
                       1.1 General Information                          10
                       1.2 Activities and Financial Position            12
                       1.2.1 Core activities                            12
                       1.2.2 Key financials                             13
                       1.2.3 Fundraising                                14
                       1.2.4 Policies                                   14
                       1.2.5 Risk and uncertainty                       15
                       1.3 Information about the Board of Directors     17
                       1.4 Outlook                                      18

                      2	Board of Supervisors’
                         Report                                         21

                      3	Consolidated Financial
                         statements                                     24
                       3.1 Consolidated balance sheet as at March 31
                            after appropriation of net result           25
                       3.2 Consolidated statement of income and
                            expenditure                                 26
                       3.3 Consolidated cash flow statement             27
                       3.4 A ccounting policies for the valuation
                            of assets and liabilities                   28
                       3.4.1 General                                    28
Joel van Houdt

                       3.4.2 Consolidation                              28
                       3.4.3 Tangible fixed assets                      28
                                                                         2017/2018 5
Oxfam novib Annual Accounts 2017-2018
3.4.4 Financial fixed assets                        28    3.7 Notes to the statement of income
                                  3.4.5 Inventories                                   28         and expenditure                                  46
                                  3.4.6 Receivables                                   29    3.7.1 Income from private individuals                 46
                                  3.4.7 Cash and cash equivalents                     29    3.7.2 Income from companies                           46
                                  3.4.8 Provisions                                    29    3.7.3 Income from lottery organizations               46
                                  3.4.9 Other assets and liabilities                  29    3.7.4 Income from government subsidies                47
                                  3.4.10 Related parties                              29    3.7.5 Income from affiliated non-profit
                                  3.5 Accounting policies for the consolidated                    organizations                                  48
                                       statement of income and expenditure            29    3.7.6 Income from other non-profit organizations 48
                                  3.5.1 Income from private individuals               29    3.7.7 Income from delivery of product
                                  3.5.2 Income from companies                         29           and services                                   48
                                  3.5.3 Income from lottery organizations             29    3.7.8 Other income                                    49
                                  3.5.4 Income from Government grants                 29    3.7.9 Expenditure allocation                          50
                                  3.5.5 Income from affiliated non-profit                  3.7.9.1 Costs of direct fundraising                   54
                                         organizations                                29    3.7.9.2 Salary and emoluments paid to directors 54
                                  3.5.6 Income from other non-profit organizations 29       3.7.9.2.1 Executives’ Pay Financed from
                                  3.5.7 Income from delivery of products and                          Public Funds (Disclosure) Act              55
                                         services and other income                    29    3.7.10 Balance of financial income and expenses 56
                                  3.5.8 Expenditure on structural poverty alleviation 30    3.8 Separate Financial Statements Oxfam Novib 58
                                  3.5.9 Costs of generating income                    30    3.8.1 Separate balance sheet of Oxfam Novib as at
                                  3.5.10 Management and administration costs          30           March 31 after appropriation of net result     58
                                  3.5.11 Foreign currencies translation               32    3.8.2 Separate statement of income and
                                  3.5.12 Pension cost                                 32           expenditure of Oxfam Novib                     59
                                	3.6 Notes to the consolidated balance sheet         33    3.8.3 Accounting policies for the valuation of
                                  3.6.1 Tangible fixed assets                         33           assets and liabilities in the separate financial
                                	3.6.2 Financial fixed assets                        34           statements                                     60
                                  3.6.3 Inventories                                   37    3.8.4 Notes to financial statement items affected
                                  3.6.4 Receivables, receivables from governments                 by the consolidation of Oxfam Sweden           55
                                         and project funds overview                   37    3.9 SHO                                               62
                                  3.6.5 Cash and cash equivalents                     38    3.9.1 Famine Action (Hongersnood Actie)               62
                                	3.6.6 Notes to the reserves and funds               39    3.9.2 Nepal                                           63
                                  3.6.6.1 Reserves                                    39    3.10 Events after the balance sheet date              64
                                  3.6.6.2 Funds                                       43
                                  3.6.7 Provisions                                    44
                                  3.6.8 Debts                                         45   4 Other information                                 65
                                  3.6.9 Project liabilities                           45    4.1 Result appropriation according to statutes       66
                                  3.6.10 Assets and liabilities not included              4.2 Report of the independent auditor                67
                                           in the balance sheet                       45

6 OXFAM NOVIB ANNUAL ACCOUNTS                                                                                                                     2017/2018 7
Oxfam novib Annual Accounts 2017-2018
Directors’
                REPORT
Maartje Geels
Oxfam novib Annual Accounts 2017-2018
our organiZation
1.1 General                                   Our approach                                  - We work with people to protect their
Information                                   Oxfam’s approach is rights-based.                land rights and make sure they can
                                              We believe sustainable development is            continue to grow the crops they
Oxfam Novib is a member of the Oxfam          about cooperating with people, enabling          depend on.
network and a worldwide development           them to get what they need, because           - We help people get a fairer deal for
organization that mobilizes the power of      they are entitled to. That is why we help        their work.
people to fight poverty. Around the globe,    people around the world to stand up for     • We create opportunity
we work to find practical, innovative         their rights.                                 - We champion people, especially
ways for people to lift themselves out of                                                      women and youth, so that they can
poverty and thrive.                           We use a combination of rights-based             take their places as full and equal
                                              sustainable development programs,                members in their communities and
In the past fifteen years alone, global       campaigns, advocacy, and humanitarian            influence others to respect that.
extreme poverty has been cut in half.         assistance in disasters and conflicts,        - We advocate for the right of women
Billions of people are standing up            while putting gender justice at the              and youth to have full control
to injustice, the trauma of war, and          heart of all our programs. We challenge          over their bodies, income, and the
complex problems like climate change          the structural causes of the injustice           decisions that affect their lives.
and economic inequality. But there is         of poverty, and work with allies and          - We support organizations where
much more to be done. That is why Oxfam       partners locally and globally.                   women have an equal role in
Novib exists: to tackle the injustices that                                                    leadership.                                                                    board of supervisors
cause and perpetuate poverty. We work         Together we tackle the root causes of         - We see a world where all of us
to make the world safer and fairer for        poverty.                                         exercise our right to a life free from
                                                                                                                                                                               board of directors
everyone. We exist to defeat poverty.         • We overcome inequality                         fear and violence.
                                                - We challenge the concentration of
Our vision                                         wealth and power in the hands of       Our goals                                                                                             Secretary Pool
A just world, without poverty. That is our         the few.                               Oxfam Novib contributes to Oxfam’s six                       CORPORATE GROUPS
vision. We want a world where people are        - We fight to ensure that the wealthy    strategic change goals as stated in the                                                               INNOVATION TEAM
valued and treated equally, enjoy their            pay their fair share of taxes, and     Oxfam Strategic Plan 2013-2019, ‘The           QFC   HR   ICT Corporate     Inst. funding &
rights as full citizens, and can influence         that governments use that money        Power of People Against Poverty.’                             Communication Donor relations           Humanitarian Team
decisions affecting their lives.                   to provide quality public health and   •	The right to be heard
                                                   education for everyone.                   More people will exercise civil and
Our values                                      - We campaign to change the systems         political rights to influence decision-                                                            PROGRAM SUPPORT
                                                                                                                                           public engagement             THEMATIC UNITS                                Oxfam
When people’s basic rights are                     that keep people trapped in the           makers and hold them accountable.                                                                  & IMPACT
                                                                                                                                                                                                                       International
respected, we can rid the world of                 injustice of poverty.                  •	Advancing gender justice
                                                                                                                                                                                                                       Global Program
poverty and injustice. This is what we        • We save lives                                More women will claim and advance            Marketing                           Food Land       IMPACT Measurement
                                                                                                                                                                                                                       Director
stand for:                                      - We support communities to be better       their right to lead, and violence against    Communications                      & Water
•	Empowerment                                    prepared to cope with shocks and          women will be significantly less             & Production                                        Country relations
    Everyone, from our staff and                   uncertainties.                            socially-acceptable and prevalent.
                                                                                                                                                                                                                       Regional
    supporters to people living in poverty,     - We work quickly to meet peoples’       •	Saving lives – now and in the future         Acquisition & Loyalty               Conflict &      Information
                                                                                                                                                                                                                       Platforms
    should feel they can be a catalyst for         essential needs when disaster             Fewer people will die or suffer as a                                             Fragility       Management
    change.                                        strikes, and we ensure the most           result of natural disasters and conflict.    Major Accounts
•	Inclusiveness                                   vulnerable are kept safe from harm.       Those most at risk will have exercised                                                           Knowledge Hub
                                                                                                                                                                              Governance                               Country Teams
    We seek out partnerships and embrace        - We partner with local humanitarian        their right to have clean water, food,       Front & Back Office                                 Governance Citizenship
    inclusive decision-making. We believe          actors who play a leading role            sanitation, and other fundamental
                                                                                                                                                                              & Financial
    everyone has a contribution to make,           before, during, and after crises.         needs met. More people will be free
                                                                                                                                                                              Flows
                                                                                                                                                                                              Capacity Building
    regardless of visible and invisible       • We defeat hunger                             from violence and coercion, and better
    differences.                                - We believe in a future where              able to take control of their own lives                                          Gender
                                                                                                                                                                                              Program Quality
•	Accountability                                  everyone has enough to eat and            in dignity.                                                                      & Youth
                                                                                                                                                                                              & Support
    We take full responsibility for our            a fair chance to provide for their     •	Sustainable food
    actions and are committed to the               families.                                 People who live in rural poverty will                                                            Flex Team
    highest standards of integrity. We will     - We help people to build livelihoods       enjoy greater food security, income,
    also hold others – individuals as well         that are more secure against the          prosperity, and resilience through
    as companies and governments - fully           impact of climate change or sudden        significantly more equitable and
    accountable for their actions.                 market shifts, which hit poor people      sustainable food systems.
                                                   hardest.                               •	Fair sharing of natural resources
                                                                                             The world’s most marginalized people
                                                                                                                                                           COORDINATORS INFLUENCING AND PRIVATE SECTOR

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Oxfam novib Annual Accounts 2017-2018
will be significantly more prosperous      In each country there is a single Oxfam      to projects and activities that further       2. Food, Land and Water                      Novib’s goal of creating transformational     million was unrealized, €0.4 million was
   and resilient, despite climate stress      program strategy, program, and budget        embedded the project organization.            We support people living in poverty          change. Furthermore, we strive to enable      realized and €2.3 million related to the
   and rising competition for land, water,    as well as a single country team. Oxfam      Our project ‘Embedding Integrity              in their efforts to claim their right to     young people to participate in society        Oxfam Novib microfinance portfolio.
   food, and energy sources.                  Regional Platforms, led by an Oxfam          Management’, set up in 2016, spiked           food, land and water. In the long term       and have an effective voice in decision-      The net results of the microfinance
•	Financing for development and              regional director, provide strategic         to the top of our priority list in February   this results in a more just food system,     making processes which affect them,           portfolio are financed by the loan
   universal essential services               leadership, deliver regional impact          2018. On this date, the British newspaper     one which sustainably addresses the          including in our own projects.                reserve therefore the negative foreign
There will be higher quality and increased    and facilitate connections between           The Times reported on a case of sexual        needs and aspirations of smallholders,                                                     exchange result of €2.3 million does not
quantity of financial flows that target       practitioners. Affiliates engage with        misconduct by Oxfam Great Britain aid         agricultural workers, and vulnerable         5. Conflict and Fragility                     affect the fundraising operations of the
poverty and inequality.                       countries and regions as Partner             workers in Haiti, which occurred during       communities. We develop and implement        Our work on conflict and fragility takes      organization.
                                              Affiliates, providing thematic and           the aid operation following the 2011          a food justice campaign – GROW –             a long-term approach that seeks to
Legal and organizational structure            capacity building support; some act          earthquake. The story was picked up by        addressing the unequal division of profit    address the underlying root causes of         With the negative effect of €3.5 million
Oxfam Novib is a Foundation (in Dutch:        as Executing Affiliates that provide         many other media outlets and developed        in international value chains, we work       conflict, such as structural inequality,      excluded, the net result of Oxfam Novib
Stichting) registered with the Chamber of     back office support. In 2017-18 Oxfam        into a leading news story, with several       on specific value chain rights and the       marginalization, and lack of access to        would have been negative €2.3 million,
Commerce (Kamer van Koophandel or KvK)        moved forward helping organizations in       new revelations of sexual misconduct          position of small-scale farmers (palm        natural resources. We seek to create          which is €1.8 million higher than the
in The Hague under number 27108436.           Turkey and Colombia to prepare to join       in the aid sector. In response, Oxfam         oil, rice, aquaculture) and work on land     inclusive security for all, with an           budgeted amount.
                                              the confederation. By the end of the         apologized for the wrongs of its former       rights and water governance; and have        emphasis on the inclusion of women and
Organization chart                            reporting year, all regional directors had   colleagues in Haiti, and announced a          a special program on the potential           marginalized groups.                          The total income from fundraising
In 2016-17 Oxfam Novib developed a new,       been recruited, and regional platforms       series of additional measures to root out     of traditional seeds in tackling food                                                      activities in 2017-18 not only exceeded
lean organizational structure, which was      were installed. For most countries, line     misconduct in its programs and offices,       security and climate change.                 6. Humanitarian work                          the budgeted amount by €23.3 million
further implemented and refined (i.e. minor   management responsibilities have by          including a worldwide comprehensive                                                        We work closely with our partners             but was in fact up compared to last
changes were made) in the past year.          now shifted from affiliates to Oxfam         plan of action to strengthen                  3. Gender                                    – in collaboration with other Oxfam           year (an increase of €19.4 million). The
                                              International.                               safeguarding systems.                         We work towards changing the attitude        organizations – to deliver specialized        additional income was spent mainly on
Oxfam Novib is an Executing Affiliate                                                                                                    of tolerance for gender discrimination.      and efficient emergency response. Our         the organization’s structural poverty
in thirteen countries, where the              Oxfam projects                               1.2 Activities and                            We challenge social norms and values         expertise covers two broad themes:            alleviation goals. The expenditure on
organization provides the necessary           Oxfam Novib collaborates in several          Financial Position                            that, even in the 21st century, try to       emergency food security and livelihoods       goals was €23.6 million higher than
legal commitments, operational                Oxfam International projects, in order                                                     legitimize and even promote the use          (EFSL), and water, sanitation and hygiene     budgeted and €19.0 million higher than
services, management support and              to further develop the confederation         1.2.1 Core activities                         of violence against women and girls;         (WASH). Operating independently, without      the previous year. The management and
systems to enable Oxfam to deliver            and strengthen our Executing Affiliate       Oxfam Novib is organized according to         rules and structures that excuse the         influence from any interest groups, we        administration costs remained constant
effective programs. These countries are:      role. In 2017-18 Oxfam Novib staff           the following major themes: Governance        violation of their sexual and reproductive   design and implement programs that            with a slight increase (up by €109
Afghanistan, Burundi, Cambodia, Egypt,        contributed time and energy to these         and Financial Flows, Food, Land and           rights, and limit their full participation   are sensitive to existing tensions and        thousand compared to the budgeted
Mozambique, Niger, Nigeria, Occupied          activities on a structural basis through     Water, Gender, Youth, Conflict and            in political and income-generating           violence. We make communities more            amount and down by €64 thousand
Palestinian Territory and Israel (OPTI),      the implementation of several joint          Fragility, and humanitarian work.             activities. Together with our partners,      resilient to future crises. To strengthen     compared to the previous year). The costs
Somalia, Tunisia, Turkey, Uganda and          projects in collaboration with the                                                         we provide women and girls with              their ability to cope, we routinely           of generating income were €0.7 million
Vietnam.                                      confederation HR units. Among other          1. Governance and Financial Flows             opportunities to mobilize and raise their    incorporate disaster preparedness into        lower than the budgeted amount and
                                              things, these involve, the digitalization    We support civil society organizations        voices, to develop their leadership,         our development work. We also take            €0.2 million higher than in the previous
One Oxfam                                     of HR in the country offices, developing     in empowering citizens to hold                to influence and participate in              a long-term view of rebuilding when           year. The balance of financial income
Oxfam Novib is an affiliate of the Oxfam      the HR collaboration between The             governments and the private sector            decision-making spaces, and to create        providing emergency aid immediately           and expenditure was €2.0 million lower
confederation, in which 20 likeminded         Hague and the country offices through        to account, including protecting and          sustainable economic opportunities           after a crisis. We aim to strengthen and      than budgeted and €3.1 million lower
organizations join forces to defeat           workshops and training, and introducing      widening the space for civic actions.         in local markets using household             empower local organizations so that           compared to the previous year.
poverty and injustice. The confederation      the National Staff Terms and Conditions      We influence governments and                  methodologies.                               they have an in-depth understanding of
is active in more than 90 countries.          (NSTCs) in the country offices where         international institutions to tackle tax                                                   the needs of affected communities and         In addition, by the end of the financial
Oxfam builds on the strengths of each         Oxfam Novib is Executing Affiliate, with     evasion and avoidance. We encourage           4. Youth                                     are more prominently represented at an        year 2017-18 Oxfam Novib had sufficient
affiliate to seek maximum impact and a        the aim of bringing a high standard of       them to increase the transparency and         We aim to work jointly with young people     international level.                          cash and cash equivalents to cover its
truly global reach. In accordance with        working conditions to every office.          accountability of their budgets, and to       to challenge the barriers that prevent                                                     current debts and project obligations.
the Oxfam 2020 plan, the confederation                                                     ensure reliable fiscal policies. We engage    them from enjoying their rights. Ensuring    1.2.2 Key financials                          The level of the contingency reserve
is nearing completion of the One Oxfam        Looking back                                 them in enhancing development aid and         that the next generation is educated and     The fiscal year 2017-18 was financially       (€16.0 million) remained well within the
initiative, which means we are becoming       In our previous Annual Accounts (2016-       innovative finance. We advocate for           healthy, can earn a living as employees      a successful year. The net result was         desirable range of €13 million to €20
a stronger Oxfam, with more affiliates        17) we reported on a year of recovery        governments, international institutions,      or as entrepreneurs, and awareness of        negative €5.8 million which is €1.7 million   million (see 3.1 ‘Consolidated balance
in the global South; a confederation          and finalizing the new organization’s        and the private sector to ensure an           the importance of developing leaders         lower than the budgeted amount of             sheet as at March 31 after appropriation
that is sustainable, accountable, and         structure and way of working. In 2017-       inclusive, sustainable, and stable            and movements for active citizens at         negative €4.1 million and €2.8 million        of net result’ and 3.6.6 ‘Notes to the
relevant in every country in which            18 Oxfam Novib continued to develop          financial sector; a sector that works         a young age are crucial factors in the       lower than last financial year. However,      reserves and funds’). Although the
we work. Improving the collaboration          and optimize our business processes          in the public interest and that serves        global fight against inequality and          the net result was significantly affected     level of the contingency reserve did
will also enhance our efficiency, cost        with an emphasis on the importance           smallholders and people living in poverty     injustice. Harnessing the energy and         by the negative foreign exchange              not drop below the desirable minimum
effectiveness, impact, and ability to         of transparency, accountability, and         with adequate financial services.             strength of young people and working         results which amounted to €3.5 million.       in the financial year 2017-18, a decline
influence.                                    integrity. Special attention was paid                                                      with this target group is core to Oxfam      Out of the amount of €3.5 million, €0.8       is expected in the following years as a

12 OXFAM NOVIB ANNUAL ACCOUNTS                                                                                                                                                                                                                                   2017/2018 13
Oxfam novib Annual Accounts 2017-2018
result of the anticipated income decrease     Online media presence                         Entrepreneurs for entrepreneurs              maximize mission-related objectives              reserve and the earmarked reserves.       organizations. Conversely, when a loan
due to the Haiti incident. The Board of       In response to social media trends, we        In 2017-18 Oxfam Novib organized             while at the same time managing the              The earmarked reserves are intended       is disbursed, the corresponding amount
Directors adopted several mitigating          have revised our strategy to diversify        regular meetings to enable our business      financial risks resulting from these             for purposes that have been approved      is withdrawn from the earmarked reserve
measures in the final multiannual budget      our presence across different social          ambassadors to inspire and learn from        investment activities. The investment            by the Board of Directors and the         for loans and guarantees and added to
2018-2023, including a reduction in           channels. This strategy, which will be        each other and learn more about the          criteria set targets on the following            Board of Supervisors.                     the earmarked fund for loans to partner
operational costs and investments in the      implemented next year, should make us         organization’s work.                         aspects, amongst others:                      •	The funds are resources that are tied     organizations.
countries where Oxfam Novib contributes       be less dependent on Facebook for both        In October 2017, six business                                                                 to particular purposes by third parties   The second element of this reserve
as a Partner Affiliate. However, these        online outreach and lead generation.          ambassadors travelled to Vietnam             •	A single microfinance institution (MFI)                                                 consists of the value of the participating
measures do not fully compensate the                                                        with Oxfam Novib to see the impact of           is eligible for a maximum of 7.5 percent   Contingency reserve                          interests held in TCX, ASN-Novib Fund,
effect of the income drop therefore           Last year was marked by some                  our microfinance work with their own            of the total Oxfam Novib fund (ONF)        The contingency reserve exists to ensure     Oikocredit, Triple Jump, and Impact
additional mitigation through the use of      major improvements in our online              eyes. “A loan and coaching can help             microfinance portfolio.                    that the organization is able to meet its    Investments, which have been financed
contingency reserve is expected to be         infrastructure which improved our ability     companies forward and have a huge            •	Investments in any single local            obligations in the future. This reserve is   from Oxfam Novib’s own resources. These
required. Due to the fact that at the end     to communicate Oxfam Novib’s results to       impact on their environment”, one               currency may not exceed 7.5 percent        intended to guarantee the continuity of      participating interests are held in order
of 2017-18 the level of the contingency       our supporter base.                           business ambassador concluded.                  of ONF’s total microfinance portfolio      the organization. In line with the model     to enable the organization to carry out
reserve is €3.0 million above the                                                                                                           (except in the case of XOF, where up to    developed, the desirable size of the         its lending activities as effectively as
desirable minimum, we believe that the        Inspire and connect with supporters           Supporter contacts                              10 percent is permitted).                  contingency reserve has been calculated      possible.
organization is well prepared for taking      Supported by a new branding strategy,         In line with our multi-year strategy,        •	Un-hedged local currencies may not         on the basis of an estimate of the income
these mitigating measures. In addition,       Oxfam Novib continued to inspire and          we have continued to develop the                account for more than 30 percent of        flow insecurity and cost flexibility. The    Earmarked reserve for hypo tax
Oxfam Novib plans to increase the level       connect to both existing and potential        infrastructure needed to place our              ONF’s total microfinance portfolio.        Directive for the Financial Management       Staff members who work abroad and
of investments in direct fundraising in       private donors.                               donors at the heart of our fundraising.      •	The total investment in subordinated       of Charities (‘Richtlijn Financieel Beheer   who are non-Dutch residents or of
the next years. Consequently, we expect       To diversify our income channels and                                                          debt is limited to 15 percent.             Goede Doelen’) was taken into account in     non-Dutch origin are subject to ‘hypo
to increase the income base and be            raise our brand awareness, we developed       In 2017-18, Oxfam Novib’s ability to         •	The total indirect investments in          making the calculation. This calculation     tax’: an amount is withheld from their
able to start rebuilding the contingency      and tested several strategies. Though         respond to an extraordinary supporter           holdings may not exceed 15 percent of      indicates a desirable minimum size of €13    gross monthly salaries which is equal
reserve within the next three-year period.    the initial results were encouraging, we      contacts situation was tested, when             the total microfinance portfolio.          million and a maximum size of €20 million.   to the wage tax that Oxfam Novib would
This shows that the organization is well      unfortunately had to postpone further         the Haiti misconduct received extensive                                                                                                 be required to withhold if the staff
prepared to continue its operations in        testing due to the Haiti Incident. We         media attention.                             The investment criteria are laid down         Earmarked reserve for Oxfam Novib            member in question were resident in
the next financial years, retaining its       also ran some small-scale pilots to turn                                                   in the contract between Oxfam Novib           projects                                     the Netherlands for tax purposes. Oxfam
healthy financial position, with no need      engaged supporters into donors, which         In 2017-18 Oxfam Novib handled nearly        and Triple Jump BV. In addition, the          The ‘earmarked reserve for Oxfam Novib       Novib adds the hypo tax withheld to a
of additional external funding in the form    we will follow up in the coming year.         76 thousand communications. This             criteria are measured and monitored           projects’ consists of the part of the        provision and uses the funds in question
of loans from third parties.                                                                significant increase on the previous year    via quarterly portfolio and management        unrestricted net assets comprising the       to pay any wage tax or equivalent tax due
                                              Legacies and bequests                         is directly related to the news about        reports.                                      funds earmarked in any year – from           in respect of the staff members working
1.2.3 Fundraising                             In 2017-18 we had more personal               Haiti in February 2018. To handle this                                                     the income from direct fundraising,          abroad. During the financial year 2017-18
We are very grateful for the ongoing          conversations than ever before with           significantly larger workload and still      The foreign exchange risk on loans            from the Dutch Postcode Lottery, and         it was decided to release this reserve to
commitment of the many supporters             our supporters on the subject of ending       respond to our donors in a timely manner,    granted (for microfinance in developing       from the net income of the publishing        the contingency reserve. Any future need
who have stood with us in good times          poverty through making a bequest. As a        we called upon support both internally       countries) is hedged by means of forward      house – for program development,             to respond to wage or equivalent tax will
and bad times. They have shown their          result, we received 41 legacy gifts, and      and externally.                              exchange contracts. In order to avoid any     program implementation and innovation.       be withdrawn from the hypo tax provision
appreciation for our important work           many more people pledged to leave a                                                        currency risk to our beneficiaries, such      Approved grants to be disbursed from         or contingency reserve.
aimed at the poor and extreme poor all        legacy gift to Oxfam Novib, for which we      1.2.4 Policies                               contracts always match the duration and       these funds to partner organizations
over the world. Even during and after         are immensely grateful.                       Investment policy                            amount of the long-term microfinance          and own project implementation are           Earmarked reserve for management and
the publicity surrounding the Haiti                                                         Oxfam Novib’s investment activities          contract, except where there is no            recognized in the statement of income        administration costs
safeguarding incident, the vast majority      Major donors and private donations            relate to our mission to end injustice and   market for forward exchange contracts         and expenditure and charged to this          The ‘earmarked reserve for management
of our private donors continued to            Private individuals, family foundations and   poverty. In order to realize this mission,   in the local currency. However, in            earmarked reserve.                           and administration costs’ (the ‘ICR
support us.                                   other organizations contribute to Oxfam       the organization invests in Oxfam            accordance with the investment criteria                                                    reserve’) is used to finance operational
                                              Novib’s mission in a special and substan-     Novib Fund which is managed by Triple        mentioned above, the total un-hedged          Earmarked reserve for loans and              support costs. The level of this
We started our fiscal year with a             tial way. Some of these donors have a         Jump BV on behalf of Oxfam Novib. The        FX exposure may not exceed 30 percent         guarantees                                   earmarked reserve is determined with
steady growth in income and supporter         Personal Fund, which Oxfam Novib man-         Fund provides funding to microfinance        of the total investment portfolio.            The earmarked reserve for loans and          due regard for internal guidelines
numbers. At the end of our fiscal year        ages for them. In 2017-18 we increased        institutions in order to support access                                                    guarantees comprises two elements.           designed to guarantee the continuity of
331 thousand people were supporting           our network and engaged a number of new       to finance for the poorest, because they     Policy on the size and the function of        The first element consists of all funds      the project cycle.
our work financially, which is a growth of    major donors. In 2017-18 the possibility of   have no access to the official banking       reserves and funds                            intended for the provision of loans
1.2 percent compared to 2016-17. This         supporting specific projects was intro-       system. By way of an exception Oxfam         In accordance with the Dutch Accounting       and investments in the Triple Jump           1.2.5 Risk and uncertainty
growth was lower than initially expected      duced to major donors; their money will       Novib also made equity investments in        Standard for Fundraising organizations        Innovation Fund. When a loan is repaid,      Oxfam Novib works in a complex, multi-
due to the Haiti incident. For more details   be entirely spent on the project of their     the past (see 3.6.2 ‘Financial assets’).     (RJ 650), Oxfam Novib’s equity is divided     a corresponding amount is added to           level and dynamic environment. It is
on the number of donors refer to section      choice, while Oxfam Novib will inform the                                                  into reserves and funds:                      the earmarked reserve for loans and          therefore of paramount importance
3.7.1 Income from private individuals.        donors of the results once a year.            Oxfam Novib has set a number of              •	Within the reserves, a distinction         guarantees and withdrawn from the            to identify risks on different levels
                                                                                            investment criteria which allow it to           is made between the contingency            earmarked fund for loans to partner          within the organization and manage

14 OXFAM NOVIB ANNUAL ACCOUNTS                                                                                                                                                                                                                                   2017/2018 15
them adequately. Risk management,            and the Board of Directors, before being        method, ‘Risk Assessment Method Oxfam         data belonging to the people and           Council for advice.                          Oxfam Novib Innovation Star and is Chair
throughout the organization, is              submitted to (the financial committee of)       Novib’ (RAMON) is mandatory whenever          organizations with which we work.          Oxfam Novib adheres to the Advisory          of Oxfam Sweden. She is also Chair of the
therefore considered a high priority.        the Board of Supervisors.                       we take on a new partner organization.        People have the right to access to their   Scheme for the Remuneration of               Executive Board of the Oxfam Novib Fund.
Oxfam Novib has integrated risk              Based on the risks mentioned in the             In addition, an annual update of the          personal data and the right to rectify     Directors of Charity Organizations of        Within Oxfam International, Ms. Karimi
management at all organizational             risk registers, we determine mitigation         findings is obligatory. We manage risks       these. The General Data Protection         Goede Doelen Nederland (the Association      is a member of the Executive Board,
levels, as well as in our relationships      measures which are monitored through            regarding our partners through this tool      Regulation (GDPR) is a new EU directive    of Fundraising Organizations) and the        the Executive Board Operational
with our partner organizations. Our risk     the Balanced Score Card and through the         and through periodical reporting and field    which replaced the previous data           SBF Code of Good Charity Governance          Committee, the Executive Board Long
approach is based on the internationally     annual update of the register. In some          visits. As our country offices manage         protection directive on May 25, 2018.      (replaces the Wijffels code). The            Term Development and Knowledge
recognized management model for              cases, we create internal project teams         our local partners, potential risks are       The GDPR requires personal data to         ‘Remuneration Policy for the Board of        Committee, the Executive Board, and the
risk management, COSO (Committee of          to deal with these risks.                       carefully managed from the country            be processed lawfully, fairly and in a     Directors’ is based on the criteria of       Executive Board Finance, Risk and Audit
Sponsoring Organizations) and on the                                                         itself. Payments to partner organizations     transparent manner. In order to ensure     this Scheme and on the Code relating to      Committee. She also participates in the
risk management policy of the Oxfam          One of the important vulnerabilities            are made only when all contractual            that it was prepared for this change       remuneration, job grading, and maximum       Humanitarian Committee.
confederation.                               that the Haiti-incident has thrown into         conditions have been fulfilled.               in the law, Oxfam Novib launched an        salary for directors.                        Ms. Karimi represents Oxfam Novib on the
                                             sharp relief, is the risk we have as Oxfam                                                    internal GPDR project and adopted                                                       Board of the Foundation of Cooperating
Risks at confederation level: One Oxfam      Novib in relation to the Oxfam brand.           The RAMON method is used within the           the ten-step approach promoted             In the 2017-18 financial year there were     Aid Organizations (SHO, the Dutch
The financial year 2017-18 is our first      The different Oxfam affiliates have been        countries in which Oxfam Novib is acting      by the Dutch Supervisor (Autoriteit        changes in the composition of the Board      umbrella organization for emergency
year of operation after the transition to    increasingly working together to achieve        as an Executing Affiliate. In the countries   Persoonsgegevens). Following an            of Directors of Oxfam Novib. Ms. van der     appeals).
the Oxfam 2020 model, working as One         our mission, which means that there             in which we are a Partner Affiliate,          assessment of the processing activities    Woude completed her assignment as the
Oxfam in country offices. This model         is also a shared brand risk; this again         we rely on the methodology of other           across the organization, we created        Director of the International Department     In September 2017, Farah Karimi
strengthens the way we work together         stresses the importance of a mutual risk        affiliates to cover the risk when taking      a data processing register (one of the     as the country offices transitioned to       announced that she would be leaving
on our common mission, but also brings       framework.                                      on a new partner.                             key requirements under the GDPR). We       the One Oxfam model. Mr. van der Lee         the organization by October 1, 2018
with it an interdependency risk that                                                                                                       raised awareness and built capacities      stepped down as the Director Programs        at the latest. Farah Karimi has led
requires careful management.                 Risks at the country level: control             Risks at the personal level: security and     on the new legislation, ensured the        and Campaigns and was replaced by Mr.        Oxfam Novib for ten years, during
                                             framework                                       safety                                        user-friendliness of our websites and      Meijers, appointed as Director Programs      which the organization, as part of
Within the One Oxfam model, Oxfam Novib      We also provide a control framework             As we work in high-risk, conflict-            updated our privacy statements. As part    and Campaigns.                               Oxfam International, has grown into a
acts as Executing Affiliate in thirteen      in the countries in which Oxfam Novib           sensitive and fragile areas, the safety of    of our internal awareness-raising, we                                                   movement of people fighting poverty,
country offices, providing back office       is an Executing Affiliate; all of these         our employees is paramount. Oxfam Novib       developed an online course that was        In September 2017, Farah Karimi              inequality, and injustice, with worldwide
services. In the countries in which we are   country offices have separate risk              provides mandatory security training          followed by all staff prior to May 25,     announced that she would be leaving          influence.
active only as a Partner Affiliate, other    profiles (including financial risk profiles).   for all travelling employees, a global        2018. We are determined to make the        the organization by October 1, 2018 at
Oxfam affiliates provide these services      Wherever and whenever needed, Oxfam             toolkit for security management, security     fundamental right to respect for privacy   the latest. The Board of Supervisors         Arnold Galavazi (1956)
(upon which we rely). Line management        Novib supports its country offices from         briefings in-country and constant             an integral part of how we work with       has started the process of recruiting a      Mr. Galavazi was appointed as Director
in all country offices is done by Oxfam      the office in The Hague. We minimize            monitoring of the security situation in       information about people.                  new Executive Director, who will remain      of Operations in September 2014 and
International.                               risks by providing support and training,        designated areas. If a security situation                                                responsible for Public Engagement,           as such is responsible for the Quality,
                                             as well as through a solid control              prevents our staff working safely,            The measures Oxfam Novib has taken         Corporate Communications, and                Finance & Control, Human Resources, ICT,
Close cooperation within the                 framework. Furthermore, all main risk           our projects continue to be closely           to mitigate the risks mentioned in this    Innovation.                                  Institutional Funding and Donor Relations
confederation is needed to mitigate          areas are tested and checked regularly          monitored from another location.              section are sufficient. In addition, the                                                and Facility Services units. Mr. Galavazi
the risks of interdependency, as well        through the internal audits. When audits                                                      levels of the reserves are sufficient      For more information refer to 1.1 ‘General   holds consultation meetings with the
as a clear framework on roles and            prove that risks are not managed and            In order to ensure a safe working             to absorb the financial consequences       Information’ and for remuneration details    Works Council and negotiates with the
responsibilities and on how, as a            mitigated well enough, we draft an              environment for all Oxfam Novib               related to these risks.                    refer to 3.7.9.2 ‘Salary and emoluments      union on the collective labour agreement
confederation, we are working together       action plan, provide support, and plan a        employees, the organization complies                                                     paid to directors’.                          on behalf of the Board of Directors.
to prevent risk areas from materializing     follow-up.                                      with an anti-bullying and anti-               1.3 Information                                                                         Mr. Galavazi also chairs the Value Board,
and to mitigate them.                                                                        harassment policy in addition to              about the Board of                         Composition of the Board of Directors        which oversees and defines investment
                                             Risks at the project level: partner             the Code of Conduct. Oxfam Novib                                                                                                      thresholds, and evaluates, prioritizes,
Risks at the organizational level:           assessments                                     also provides in-house confidential
                                                                                                                                           Directors                                  Farah Karimi (1960)                          and selects new investments for the
The Risk Register                            Risks within the projects we execute are        counselors and initiated a new Speak-Up       The Directors of Oxfam Novib are           Ms. Karimi started as Executive              Board of Directors’ approval.
Oxfam Novib’s Risk Register identifies       managed throughout the entire process.          protocol as of March 2018. Following the      appointed following a formal and           Director on February 1, 2008. She was        Within the Oxfam International
potential internal and external risks,       The Oxfam Novib Project Cycle describes         Haiti case, Oxfam launched a worldwide        transparent procedure. Vacancies on        reappointed to this position by the          confederation, he is a member of the
classifies these risks and defines and       our ways of working and the checks and          comprehensive plan of action to               the Board of Directors are published       Board of Supervisors in February 2016.       Executing Affiliate Working Group.
monitors mitigation measures. Our risk       balances we have implemented.                   strengthen its safeguarding measures.         internally and externally. According to    As Executive Director and Chair of the       In April 2017, Arnold Galavazi announced
register is alternately renewed and                                                                                                        this formal procedure, the members of      Board of Directors, Ms. Karimi has final     that he will not be seeking a second
updated every six months, on issues          When a (local) partner organization             Risk at privacy level: GDPR and data          the Remuneration Committee of the Board    responsibility for the strategic direction   term as a Director of Operations. He
such as the progress of the (renewed)        implements a project, a financial and           privacy                                       of Supervisors work with the Executive     and organizational development of            will be leaving the organization by
mitigation measures. Both renewal            governance risk assessment is carried           As a rights-based organization, Oxfam         Director to select the most suitable       Oxfam Novib. She is also the responsible     September 1, 2018. Arnold Galavazi has
and update are carried out in close          out as part of the assessment of this           Novib is committed to taking care with        candidate. A formal ‘voorgenomen besluit   director for the Public Engagement and       tirelessly worked and dedicated himself
consultation with the management team        partner. A uniform risk assessment              the use and processing of personal            ter benoeming’ is submitted to the Works   Corporate Communication units, the           throughout the last four years. Mr.

16 OXFAM NOVIB ANNUAL ACCOUNTS                                                                                                                                                                                                                                  2017/2018 17
Galavazi contributed tremendously to the      In the next financial year we encourage       Account), due to both reduction of the      MULTI ANNUAL BUDGET 2018-2023
change to project organization objective.     our public to follow on our projects, such    number of existing donors as well as
                                              as the Climate Change Combating, Sowing       lower rate of increase of new supporters.                                                         FY            FY            FY            FY            FY
Ton Meijers (1958)                            Diversity and Harvesting Security program,    This is a direct consequence of the Haiti   Amounts in thousands of Euros                         2018-19       2019-20       2020-21       2021-22       2022-23
Mr. Meijers started as Director of Programs   supported by the Swedish International        incident. This is partly compensated by
and Campaigns in September 2017. He is        Development Cooperation Agency (Sida),        higher other unrestricted income (an
the responsible director for the Thematic     which is having a major positive impact on    increase of €1.6 million), mainly related   INCOME
Units, the Program, Support & Impact unit,    the lives of women farmers in Asia, Africa,   to ICR income.                              Income from private individuals                           20,702        22,038        22,961        23,991         25,081
and the Humanitarian Team. Since Mr.          and Latin America. The IKEA Foundation-                                                   Income from companies                                     33,644        26,971        22,035        22,817         23,409
Meijers first joined Oxfam Novib in 1994      backed Empower Youth for Work program,        To compensate for the Haiti incident
                                                                                                                                        Income from lottery organisations                         15,200        16,900        18,700        18,800         19,000
he has held various positions, including      is as well making (and will continue          related income drop of €3.6 million, the
                                                                                                                                        Income from government subsidies                          81,770        77,363        78,361        80,163         81,868
those of Program Officer West Africa,         making) a remarkable difference in the        Board of Directors took a decision to
Regional Manager East Asia, Head of           lives of young people from Bangladesh to      use the funds set aside in the reserves     Income from affiliated non-profit organisations           29,930        31,370        34,277        35,468         36,776
the Knowledge & Program Management            Pakistan.                                     in the previous years to the amount of      Income from other non-profit organisations                      0             0             0             0             0
Department and Manager of the Program                                                       €2.6 million (of which €1.4 million from    Income from delivery of products / services                4,608         4,608         2,984         1,359          1,359
Support & Impact Unit. Mr. Meijers is also    Alongside these areas, Oxfam Novib            the contingency reserve and €1.2 million    Other income                                                    0             0             0             0             0
a member of the Value Board. Within           will have a change of leadership in the       from the project reserve). The remaining
                                                                                                                                        Income from fundraising activities                       185,854       179,248       179,317       182,599        187,492
Oxfam International, he is a member of        2018-19 fiscal year, when our Director        amount was taken as a reduction in the
the Influencing Platform and the Long-        of Corporate Groups, Arnold Galavazi,         operational costs and investments in the
Term Development & Knowledge Platform.        and our Executive Director, Farah Karimi,     countries where Oxfam Novib acts as a       EXPENDITURE
Furthermore, Mr. Meijers represents Oxfam     hand over the management of the               Partner Affiliate.                          Food, Land and Water                                      43,041        41,558        41,233        41,630         42,432
Novib in the Dutch Relief Alliance.           organization to new leaders.
                                                                                                                                        Financial flows and Governance                            43,155        41,672        41,288        41,626         42,428
                                                                                            By the end of the fiscal year 2017-
                                                                                                                                        Conflict and Fragility                                    41,508        40,022        39,796        40,292         41,090
1.4 Outlook                                   The final budget approved by the Board        18 the level of the contingency
                                              of Directors and Board of Supervisors in      reserve (€16 million) is well above         Gender and Youth                                          37,399        35,913        35,774        36,358         37,156
For the coming period Oxfam Novib will        April 2018 assumes a net positive result      the desirable minimum of €13 million        Emergency                                                  1,959         1,809         1,218         1,227          1,237
continue delivering on our mission,           of € 1 million for the fiscal year 2018-19.   and the withdrawal from the project         Public Engagement                                          7,827         8,462         8,756         8,783          9,025
programs and campaigns, showing that                                                        reserve did not exceed the budgeted         Expenditure on goal 'structural poverty alleviation      174,890       169,437       168,064       169,917        173,369
we are worthy of the trust of our public.     The total income budgeted for the             amount. In addition, Oxfam Novib plans
We are investing heavily in safeguarding      fiscal year 2018-19 is €0.9 million lower     to increase the level of investments
our programs and becoming a global            compared to the budget published in the       in direct fundraising in the next years     Direct fundraising                                         6,243         7,227         7,645         7,524          7,839
leader in protecting people against           previous Annual Account. The restricted       therefore the Haiti related income drop     Third-party campaigns                                        478           480           482           484            485
abuses of trust and of power. We will         income from institutional donors is €1.1      is considered incidental. Due to these      Securing government grants                                 1,563         1,570         1,587         1,605          1,623
ensure to make more visible that we           million higher compared to the previous       reasons the choices made for the
                                                                                                                                        Costs of generating income                                 8,284         9,276         9,714         9,613          9,948
are reliably, competently, and honestly       budget while the unrestricted income is       mitigating measures are considered
committed to the highest standard             €2.0 million lower. The lower unrestricted    responsible and sustainable and we
of integrity. These topics will also be       income is mainly related to the expected      believe that the organization is well       Management and administration costs                        2,440         2,499         2,549         2,573          2,619
amongst the main focus points of the          drop of the direct fundraising income         prepared to continue delivering its
upcoming Oxfam confederation strategic        in The Netherlands (a decrease of €3.6        mission in the future.                      Expenditure from fundraising activities                  185,614       181,212       180,327       182,102        185,937
planning review, in which Oxfam Novib will    million compared to the multi annual
participate.                                  budget published in the previous Annual
                                                                                                                                        Balance of financial income and expenses                     796         1,114         1,170         1,227          1,285
                                                                                                                                        NET RESULT                                                 1,036         (849)           161         1,724          2,841

                                                                                                                                        APPROPRIATION OF NET RESULT
                                                                                                                                        Added / charged to: contingency reserve                   (1,412)       (1,916)       (1,387)          114          1,166
                                                                                                                                        Added / charged to: project reserve                       (1,192)        (800)         (800)         (800)           (800)
                                                                                                                                        Added / charged to: other earmarked reserves               4,559         2,827         3,356         3,468          3,583
                                                                                                                                        Added / charged to: funds                                  (919)         (960)        (1,008)       (1,058)        (1,108)
                                                                                                                                        NET RESULT                                                 1,036         (849)           161         1,724          2,841

18 OXFAM NOVIB ANNUAL ACCOUNTS                                                                                                                                                                                                                         2017/2018 19
Board of
Supervisors’
Report

               Sven Torfinn
The Board of Supervisors has a supervisory role at Oxfam Novib          Joyeeta Gupta (1964)                                                   Laurien Koster (1950)                                                  committee conduct performance reviews with the members of
and functions as the employer and a sounding board for the Board        Ms. Gupta was first appointed in November 2012, with a maximum         Ms. Koster was appointed in June 2015, with a maximum period of        Board of Directors. In 2017, the committee recruited a new Director
of Directors. The Board of Supervisors upholds the principles of        period of tenure ending in 2020.                                       tenure ending in 2024. She has been Chair of the Remuneration          of Program and Campaigns, Ton Meijers. Due to the announced
the Code of Good Governance for Charities and acts accordingly.         Ms. Gupta is Professor of Environment and Development in the           Committee since June 2015.                                             departure of Farah Karimi as Executive Director, the remuneration
The Board of Supervisors exercises its supervisory role beforehand      Global South at the University of Amsterdam (UvA) Faculty of           As of 2017, Ms. Koster is the independent Chair of the Children’s      committee has taken up the recruitment process to find a new
as well as retroactively.                                               Social and Behavioural Sciences, and at the UNESCO-IHE Institute       Rights Collective (KRC), a coalition of NGOs. Until 2015, Ms. Koster   Executive Director of Oxfam Novib.
                                                                        for Water Education in Delft. Her other positions include that of      was Chair of the Netherlands Institute for Human Rights and of its
The mandate and tasks of the Board of Supervisors are laid down         Vice-Chair of the Committee on Development Cooperation and             predecessor, the Equal Treatment Commission. Laurien Koster’s          Oxfam International
in statutes and further detailed in a regulation. Members of the        membership of the Advisory Council on International Affairs. She is    prior experience includes being President of the Court in Alkmaar      The Oxfam International Board of Supervisors holds at least one
Board of Supervisors are recruited on the basis of an agreed            presently Co-Chair of the UN Environment’s Global Environmental        and more than 32 years as a judge and a lawyer.                        face-to-face meeting each year. As mentioned, the Chair of
profile and through open advertisement.                                 Outlook.                                                                                                                                      Oxfam Novib’s Board of Supervisors participates in these meetings
                                                                                                                                               The Board of Supervisors as a sounding board                           on behalf of the organization. Among other things, the Oxfam
The Board of Directors of Oxfam Novib consists of an Executive          Kees Tukker (1955)                                                     The Board of Supervisors is regularly informed about and               International Board of Supervisors reviews and adopts proposals
Director and two Directors. The Directors are primarily responsible     Mr. Tukker was first appointed in November 2012, with a maximum        consulted on major changes and important strategic choices             for confederation development, operational plans, budget, and
for the realization of the statutory objectives and take the            period of tenure until 2020. He is a member of the financial           relating to organizational development, operations, finances, the      governance in its meetings. As our Chair was unable to attend the
necessary decisions to this end.                                        committee of the Board of Supervisors.                                 strategic direction of Oxfam Novib and decisions relating to Oxfam     March 2018 meeting, Board of Supervisors member Peter Verbaas
                                                                        As an independent consultant and advisor, Mr. Tukker has worked        International. Recurring topics include the ‘Oxfam 2020’ transition    attended this meeting in his place.
In 2017-18, the Board of Supervisors met five times for the regular     for organizations in the media and in mental health care. As a         process, working as a project organization, major projects,
face-to-face meetings and held a strategy day together with the         media professional he has held several leading positions in major      strategic policy choices of the organization, innovation and the       Compensation
Board of Directors. The Supervisors, and the Chair in particular,       public broadcasting organizations. He is also working on several       integrity project.                                                     Members of the Board of Supervisors perform their duties
also regularly act as a sparring partner and sounding board for         books, one of them being The Food Commissioner. This factual                                                                                  unremunerated. Costs of travel and accommodation made in
the Board of Directors. In addition, board members commonly join        story about a leading figure in the Dutch food supply system           The Board of Supervisors in its supervisory role                       the execution of their function are reimbursed, based on a
meetings with stakeholders and events organized by Oxfam Novib.         during Word-War II will be published in the fall of 2018.              In its supervisory role, the Board of Supervisors approved the         regulation applicable to all Oxfam Novib staff members and
                                                                                                                                               Board of Directors’ Balanced Scorecards, the 2016-17 Annual            volunteers of Oxfam Novib. A total of €2 thousand was paid out in
Composition of the Board of Supervisors                                 Peter Verbaas (1959)                                                   Accounts and Board Report, the 2017-18 Oxfam Novib Annual              reimbursements in 2017-18.
The Board of Supervisors has six members and is chaired by Hanzo        Mr. Verbaas was first appointed in November 2012. His maximum          Report and Annual Accounts, and the 2018-19 Annual Plan and
van Beusekom. At the time of writing, the Board of Supervisors          period of tenure will end in 2021. He is Chair of the Financial        Budget. The 2016-17 Annual Report on Internal Audits and the           Closing remarks
was in the process of recruiting new members. The maximum               Committee.                                                             Annual Report on possible fraud and irregularities were also           The Board of Supervisors would like to thank our member Kees
period of tenure of the current Chair expires on January 1, 2019.       Mr. Verbaas is a partner at Charistar, a not-for-profit consultancy    discussed with the Board of Supervisors.                               Tukker for his diligent service and excellent insights over the last
Kees Tukker does not seek reappointment for third term, as he           for impact with clients in the charity sector, culture, education,                                                                            six years.
wishes to dedicate his time to his writing. Moreover, the Board         and sports. His other positions include a non-executive position       The financial committee, a subcommittee of the Board of
of Supervisors wishes to recruit a seventh member. The statutes         at VU Medisch Centrum Fonds, and membership of the Non-                Supervisors, prepares advice for the Board of Supervisors on           The Board of Supervisors would like to take this opportunity to
prescribe that the Board of Supervisors consists of three to seven      Executive Board of ASN Beleggingsbeheer. He teaches at Nyenrode        the annual accounts, the budget, and the financial reports. The        thank all Oxfam Novib staff members for their outstanding work
members.                                                                University and the Center for Private Wealth Management.               committee members also monitor major projects, the follow-up           in the past year. We should not forget all the excellent work we
                                                                                                                                               of points raised in internal and external audits, recommendations      accomplish, and that Oxfam Novib has a positive impact on the
Hanzo van Beusekom (1972)                                               Jan van Zijl (1952)                                                    in the auditor’s management letter and the updating of the Risk        lives of so many. We are currently going through difficult times, as
Mr. van Beusekom was first appointed in January 2010, with a            Mr. van Zijl was appointed in June 2015, with a maximum period of      Register.                                                              a result of the deplorable actions of a few staff members within
maximum period of tenure ending in January 2019. He has been            tenure ending in 2024. He was appointed on the recommendation          The Board of Supervisors is kept informed by the Board of              the confederation. We trust that Oxfam Novib will overcome the
Chair of the Board of Supervisors since October 2013. Mr. van           of the Works Council.                                                  Directors as well as the Works Council, and through staff              difficulties and will emerge better and stronger.
Beusekom is a member of the remuneration committee. As Chair            Mr. Van Zijl is a former Member of Parliament. He is also a previous   presentations on Oxfam Novib’s various fields of activity. The
of Oxfam Novib’s Board of Supervisors, he is also a member of the       Chair of the MBO Council and of the Cooperation Organisation           Board of Supervisors also keeps abreast through the members’           Hanzo van Beusekom
Board of Supervisors of Oxfam International, and has been elected       for Vocational Education, Training, and the Labour Market.             individual contacts within the organization and via participation in   Chair Board of Supervisors Oxfam Novib
Chair of the Governance Committee of Oxfam International. Mr. van       Until January 2017, Mr. van Zijl was Chair of the Dutch Council        events and activities.
Beusekom is a partner at Clear Conduct, a specialized strategic         for Refugees (Vluchtelingenwerk), and he is Vice-President of
consulting firm on regulatory practice, risk management, and            the pension fund ABP. His other positions include that of Chair        The Board of Supervisors as an employer
business conduct. He is a senior consultant with the World Bank         of the Foundation Learning from Each Other (an NGO in Peru),           A second subcommittee of the Board of Supervisors is the
aiming to improve financial inclusion, a visiting lecturer at several   membership of the Advisory Board of Foundation Institute Gak           remuneration committee, as the Board of Supervisors also serves
universities, and serves as a board member at sSSIO.                    Fund, and Chair of World Skills Netherlands.                           as the employer of the Board of Directors. The members of this

22 OXFAM NOVIB ANNUAL ACCOUNTS                                                                                                                                                                                                                                               2017/2018 23
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