Reporting of the Klitschko Foundation for 2019

The Klitschko Foundation has existed for 17 years. Despite the events taking place in the country, as the fund's team changes, new projects are implemented  the fund's values ​​and principles always come first.

In order to ensure the sustainable development of our Ukrainian society and humanity in general, we actively implement good governance in our activities. It has 8 main characteristics that guide us in the decision-making process: focus on consensus, participation, rule of law, effectiveness and efficiency , equality and inclusiveness, sensitivity, transparency, accountability.

Klitschko Foundation as an organization is focused on continuous development and improvement and pays considerable attention to reporting. Since 2014, we have been audited according to international IFRS standards. During February-March 2020, the fund successfully passed the audit for 2019 from the company "EY".

Why is this important to us?

presents the results of annual activities and symbolizes the institutional development, as well as the institutional memory of the organization, both for the team and for society as a whole. The report preparation process provides an opportunity to analyze your activities well: to review your formula for success and your performance indicators, work on errors and formulate changes for the next project period. All these steps help us as a team to get closer to the mission of the foundation.

Second, audited financial statements are indicators of an entity's integrity because the analysis is performed by a third party that is disinterested and unbiased in relation to the audited entity. An independent audit and the availability of an annual report help to increase the level of public confidence in the organization's activities, as everyone can check where their charitable contributions have been directed and what the organization has implemented.

Third, donors need to communicate in their language. Through the fund's annual report and audit, donors want to see expertise in selected areas of activity, as well as the organization's ability to act systematically and consistently with its beneficiaries with whom it interacts and with the finances the organization invests in society. For example, most donors do not consider a grant application without these documents.

You can get acquainted with the report and results of the Klitschko Foundation audit for 2019 in the "Finance and Audit" tab.