Spynwelfare

Good governance implies that the foundation, in order to fulfill its charity purposes, not only requires adequate management, but also needs to ensure proper spending of the funds in accordance with its defined goals, and to minimize all unnecessary costs.

The SPYN Welfare Foundation is fully aware of this basic requirement. For its work SPYN has applied for the (legal and fiscal) status of an institution of general benefit, a so called ANBI (algemeen nut beogende instelling). In order to obtain this status, which is granted by the Dutch Tax Authorities, a foundation has to meet several pre-defined criteria. These criteria serve as a guarantee that the raised funds will be spend correctly. The Tax Authorities bestow a fiscal facility to this status and for that reason need to be a 100 % sure of the correct spending of the funds. Gifts to an ANBI are free of tax. SPYN has been granted this status based on the nature and execution of her work. To maintain this status, SPYN needs to meet these defined criteria under any circumstances.

Therefore, it is understandable that SPYN desires to continue her work in a manner that meets the "ANBI" criteria such that the ANBI-status will not be disputed. Good governance stands for good management, good administration, tight control on the income of the foundation and, most importantly, detailed oversight on its spending. The members of the SPYN board will continuously verify that beneficiaries receiving support through SPYN, will spend the support received for the selected projects most effectively, in line with the statutes of SPYN and in accordance with the decisions of the board. The board preserves the right to control the spending of the funds and to advise recipients on this subject.

As a rather modest foundation, SPYN mainly supports relatively small projects. This allows SPYN to directly influence the allocation and use of the allocated funds, and to suggest what specific aspect(s) of the project SPYN desires to support. However, SPYN has no intentions to micro manage the individual projects, as a rule the SPYN board keeps oversight at distance. SPYN is convinced that in this way the funds will be allocated properly and will be spend most effectively.