ASSETS AND LIABILITIES

31/12/2019 31/12/2018
A) Credits towards members - -
B) Fixed assets
I - Intangible assets
1) Plants and enlargement costs 162.958 320.941
6) on going and down assets 165.720 161.227
7) Others 123.599 150.346
Total I 452.277 632.514
-
II - Tangible assets
1) Buildings 269.366 225.421
2) Equipment - 0
3) Industrial and trade equipment -
4) Others 38.788 70.937
5) On going assets -
Total II 308.154 296.358
-
III - Financial
1) Participation in: -
(a) subsidiary undertakings -
(b) Associated companies -
(c) controlling undertakings -
d) Other companies 7.360 7.360
2) Credits: -
a) from subsidiaries due within 12 months - -
b) to associated companies due within 12 months - -
c) from parent companies due within 12 months - -
d) from others due within 12 months - 8.474
3) Others - -
4) Shares - -

Total III 7.360 15.834

-
Total fixed assets (B) 767.791 944.707

C) Floating assets
I - Leftovers:
1) Raw, ancillary and consumable materials - -
2) Work in progress, semi-finished products - -
3) Work in progress on contracts - -
4) Finished products and goods for resale - -
5) Advances
Total I
Tangible fixed assets for sale 29.360 29.360

II - Credits: -
1) towards donors 4.124.723 5.639.895
due over 12 months - -
2) towards subsidiariess - -
due over 12 months - -
3) towards associated companies - -
due over 12 months -
4) towards parent companies -
due over 12 months -
5) subsidiaries of parent companies -
due beyond one year -
5bis) credits tax 17.826 16.821
due over 12 months -
5ter) advanced tax -
due over 12 months -
5quater) towards other 612.717 608.185
due over 12 months 18.302 18.302
Total II 4.773.568 6.283.203
-
III - Financial activities (these are not fixed assets): -
6) Other -
Total III -

IV - Liquidity:
1) Bank and post office accounts 4.305.363 3.461.069
2) Cheques 4.150 3.800
3) Cash 5.322.606 3.943.074
Total IV 9.632.119 7.407.943

Total Floating assets (C) 14.435.047 13.720.506

-
D) Accruals 3.575.809 14.623.282

Total assets 18.778.646 29.288.494

The President and Legal Representative

Claudio Ceravolo

COOPI-COOPERAZIONE INTERNAZIONALE BALANCE 31 DECEMBER 2019

 ASSETS AND LIABILITIES

31/12/2019 31/12/2018
A) Net assets
I. Common fund 70.000 70.000
V. Statutory reserves - -
VI. Share reserves 2.042.905 1.247.153
VII. Other reserves - -
VIII. Renewed fiscal year surplus/deficit - (-0)
IX. Fiscal year surplus 87.717 44.144
Total net assets (A) 2.200.622 1.361.296
B) Risks and charges funds
1) for pensions and similar obligations - -
2) a. for tax - -
3) b. for extended tax - -
4) other 37.591 -
Total risks and charges funds (B) 37.591 -
C) Severance payment fund 505.856 491.215
D) Debts
1) bonds - -
due over 12 months - -
2) convertible bonds - -
due over 12 months - -
3) members' finding - -
due over 12 months - -
4) debts towards bank 3.100.006 2.781.349
due over 12 months - -
5) debts towards other - -
due over 12 months - -
6) advances - -
due over 12 months - -
7) debts towards suppliers 185.304 207.603
due over 12 months - -
8) debiti rappresentati da titoli di credito - -
due over 12 months - -
9) debts towards controlled enterprises - -
due over 12 months - -
10) debts towards connected enterprises - -
due over 12 months - -
11) debts towards controlling enterprises - -
due over 12 months - -
12) taxes 36.930 47.887
due over 12 months - -
13) debts towards social welfare 121.578 117.119
due over 12 months - 331
14) other debts 2.128.146 3.087.859
due over 12 months - -

Total debts (D) 5.571.964 6.242.149

E) Accruals 10.462.613 21.193.834
Totale liabilities 18.778.646 29.288.494

The President and Legal Representative

Claudio Ceravolo

COOPI-COOPERAZIONE INTERNAZIONALE BALANCE 31 DECEMBER 2019

 PROFIT AND LOSS ACCOUNTS

31/12/2019 31/12/2018
A) Income
1) Income for activities 46.957.836 58.111.825
2) Variations - -
3) Variations on-going works - -
4) Internal increases for assets - -
5) Other incomes 1.995.315 2.336.706
year grant - -
Total income (A) 48.953.152 60.448.531
B) Costs
6) for raw materials 3.056.365 15.017.114
7) for services 24.502.002 10.447.358
8) Costs for assets belonging to other 2.810.366 5.121.046
9) for personnel 14.494.884 23.536.829
a) wages 3.727.203 4.932.530
b) social costs 439.595 517.040
c) severance payment 64.694 142.767
d) severance payment towards employees and similar
- -
e) other costs 10.263.391 17.944.493
10) Depreciations: 308.022 348.011
a) intangible assets depreciations 290.075 317.414
b) tangible assets depreciations 17.947 30.957
11) Leftovers modification -
12) Reserve funds for risks 37.591
13) Other reserves 750.000 450.000
14) Other management charges funds 2.583.501 5.497.012
Total costs (B) 48.542.730 60.417.370
Difference (A - B) 410.422 31.161

C) Revenues and financial costs

15) Revenues from bonds: - -
a) in subsidiaries - -
b) in affiliated companies - -
c) other companies - -
16) Other revenues (not from partic.): 263 1.262
(a) financial income (int.)
from long-term receivables -
4) from other 263 1.262

17) Interests and other financial costs: 184.539 160.188

d) debts towards banks 184.539 160.188
f) other debts - -
17bis) Profits and losses for exchanges rates: - 138.428 171.909
a) profits for exchanges rates 250.050 742.252
b) losses for exchanges rates 388.478 570.343
c) conservative fund for risks on exchanges rates -
-
Difference between revenues and costs (C) - 322.704 12.983
D) Amending values for financial activities
-
Total (D) - -

Financial year result 87.717 44.144

The President and Legal Representative

Claudio Ceravolo

COOPI-COOPERAZIONE INTERNAZIONALE BALANCE 31 DECEMBER 2019

NOTES TO THE BALANCE

COOPI – COOPERAZIONE INTERNAZIONALE is a non-profit Foundation whose object is to contribute

towards the development of the communities with which it cooperates in Southern Countries (SCs). This aim
is essentially reached via the implementation of development programmes with SCs and the selection and
preparation of individuals who wish to participate on a voluntary basis in the Foundation’s programmes.
COOPI is an ONLUS by right, according to art. 10 comma 8 of the D.L. 4 December 1997, n. 460.
COOPI, in the process of reforming the Third Sector provided for by Delegation Law 106/2016 and
subsequent decrees and additions, has verified the existence of all the necessary requirements for the bodies
of the Third Sector and intends in any case to comply with all regulatory provisions within the terms of the law.
The Balance Sheet ending on the 31st December 2019 has been drawn up according to the Civil Code and
it’s made up of the Assets and Liabilities Accounts (drawn up according to art. 2424 c.c.), and of the Profit and
Loss Accounts (according to the format laid out in artt. 2425 and 2425 bis c.c.) and of these notes to the
balance.
We hereby present the documents which make up the Accounts according to the requirements laid out in the
Civil Code for approval by the Member’s Assembly; for each item in the Balance Sheet and Income
Statement, a comparison is made with the corresponding item for the previous year. Any deviations from the
values of the previous year with respect to those shown in these notes are due to a different reclassification.
The preparation of the documents which make up the Foundation’s Accounts has been carried out according
to the law; in particular, the notes to the balance illustrate, analyse and in some cases add information to the
data contained in the Accounts, and contain all the information required by art. 2427 of the Civil Code as
detailed below.

Point 1) Criteria used in the analysis of the items of the accounts, in amending values and in the
conversion of values not originally expressed in local currency
The items which make up the accounts have been analysed according to the criteria laid out in the Civil Code.
All the amounts derive from the accounting entries.
The criteria used in the preparation of the accounts as at 31st December 2019 are not different from those
used for the preparation of the accounts of the previous year, especially with regards to continuity and
analysis of the principles.
The analysis of the items of the accounts has been carried out according to general principals of prudence
and pertinence with a view to the continuation of the activity, as well as having taken into consideration the
economical purpose of the assets and liabilities.
By applying the prudence principal the analysis of the individual items of the assets and liabilities has meant
that no compensation has been carried out between losses, which needed to be acknowledged, and profits
not to be acknowledged in that never actually made.
By applying the pertinence principal all operations and other events have been included in the accounting of
the year to which they apply. With regards to costs and proceeds relating to projects which do not end their
activities by the end of the accounting year, due to the difficulty in analysing their situation, these have been
“suspended” by entering accruals at the end of the year and moving them forward to the following year.
With specific regards to the analysis, here follows the criteria used on the more important items, according to
art. 2426 c.c.
As a result of the new text of the OIC 24 Accounting Standard, Advertising Expenditures are reclassified from
item BI2 to item BI1 for both the financial year 2019 and the previous for the purpose of homogeneity.

1
ASSETS
B. FIXED ASSETS
B. I. Intangible assets
These have been entered at purchase price value, including all directly related costs, and have
been presented net of the depreciations carried out previously and attributed to the single budget
items.
Maintenance and improvement costs of assets belonging to others have been included in “Other
intangible assets” and depreciated using the lower of the following: future use and rental contract.
Those assets with a considerably lower economical value than the cost at the end of the
accounting year, are depreciated to their economical value. If the reasons for said depreciation
are no longer applicable, the cost value is reinstated.

B. II. Tangible assets

As per art. 2426 c.c. tangible assets are entered at cost value, including all directly related costs.
Maintenance and repair costs have been included only where these have actually increased the
value of the asset or bettered its use.
Those assets which have a cost lower than or equal to euro 516,46 have been entered in the
profit and loss account when their use is limited to one accounting year.
The value of all assets in the foreign seats has been entered net of depreciations.
No revaluations have occurred.

Amendments
The depreciation quotas entered in the Profit and Loss Account have been calculated according
to use, destination and economical and technical duration of the goods, on the basis of residual
use. The following quotas represent these criteria.

The Quotas applied for amortization of tangible assets used in Italy, are as follows:
Goods Quota %
Buildings 3%
Plants 20%
Equipment 20%
Furniture 10%
Office equipment 20%

The assets are entered net of their corresponding depreciation funds.

The tangible assets have not been revaluated.
With regards to quotas applied to tangible assets in use in the foreign seats, these follow those
laid out in the tables contained in COOPI’s internal procedures.

B.III Financial assets

Shares held directly by the Foundation in other companies operating in the field of cooperation
are entered in the assets in that they are not temporary and represent a lasting and strategic
investment for the Foundation.
Shares in other companies have been entered at purchase cost value.

2
C. FLOATING ASSETS
C.I. Leftovers
Amounts of € 29.360 were recorded under the item "Stock of valuables" relating to a legacy
received during 2019.

C.II. Credits
These have been entered at the presumed fulfilment value.

C.III. Financial activities

These are entered at purchase price value.

C.IV. Liquidity
These are considered at nominal value.

D. POSTIVE ACCRUALS
Positive accruals refer to costs, which are common to two or more accounting years, the size of
which is determined by the pertinence principal.
Those accruals which last over two years have been analysed with regards to their original value
and modified where necessary.
Positive accruals are partly formed by costs sustained during the closing year but pertaining to
projects which have not ended their activities by the end of the year.

LIABILITIES
B. RISKS AND CHARGES FUNDS
Risks and charges funds are made up of conservative provisions made for possible debts
towards donors for reports which have still to be approved.
C. SEVERANCE PAYMENT FUND
This represents the actual debt toward employees at the closing date. This debt, which has been
calculated according to current law and for all current contracts, has been entered net of any
advances given.
D. DEBITS
These are valued at nominal value.
E. NEGATIVE ACCRUALS
Negative accruals refer to revenues, which are common to two or more accounting years, the size
of which is determined by the pertinence principal.
Negative accruals are partly formed by proceeds received during the closing year but pertaining
to projects, which have not ended their activities by the end of the year.

GUARANTEES AND COMMITMENTS RISKS

Guarantees and commitments are shown in the interim accounts at contractual value.
• Guarantees refer to stand-by letters of credit issued towards third parties.
• Commitments refer to obligations deriving from contracts, which have been signed but have not
yet been carried out.
• Risks for which there is a probable debt have been outlined in the notes to the balance and
accounted for in the risks-and-charges funds.
Risks for which there is a possible debt have been outlined in the notes to the balance, without
any entry in the risks-and-charges fund, according to accounting practice.

3
 CRITERIA FOR THE CONVERSION OF VALUES EXPRESSED IN FOREIGN CURRENCY
Credits and debts originally expressed in foreign currency, referring only to foreign current
accounts, have been entered using the exchange rates published by the European Union for the
month of December 2019.

PROFIT AND LOSS ACCOUNTS

Costs and revenues
There are entered according to principals of prudence and pertinence.
The financial statements show a reduction of over 10 million in revenues; this reduction is only
apparent, as it is substantially linked to the duration of the projects underway in 2019, many of
which will continue in 2020.
The overall quantity of projects developed is stable and at present forecasts for 2020 see a
possible return of revenues of around 60 million and more.

Point 2) Assets variations

These have been entered at purchase price and refer to the value net of any depreciations carried out
during previous years, where these have been entered in their specific items.
BI) Intangible assets
Following are the variations of intangible assets during the year:

4
 31/12/2018 Increase Depreciation 31/12/2019

Advertising costs 320.941 ( 157.983 ) 162.958

other multiannual expenditure 4.092 ( 4.092 ) 0
Other extraord. Assets 11.719 ( 3.436 ) 8.283
Extraord. Maintenance costs 134.535 ( 19.219 ) 115.316
Total 471.287 0 ( 184.730 ) 286.557

31/12/2018 Increase Depreciation 31/12/2019

Feasibility Study Lebanon 1.354 ( 677 ) 677

Feasibility Study Iraq 18.726 ( 9.363 ) 9.363
Feasibility Study Jordan 48.561 20.724 ( 17.529 ) 51.756
Feasibility Study Venezuela 0 20.398 0 20.398
Feasibility Study Senegal 10.958 ( 3.653 ) 7.305
Feasibility Study Syria 26.358 ( 14.654 ) 11.704
Feasibility Study Cameroon 8.743 ( 2.570 ) 6.174
Feasibility Study Cameroon 1.473 ( 1.473 ) -
Feasibility Study Sudan 0 3.877 ( 2.376 ) 1.501
Feasibility Study Tunisia 15.852 13.555 ( 13.792 ) 15.615
Feasibility Study Gambia 7.987 ( 1.997 ) 5.990
Feasibility Study Gambia 0 6.259 0 6.259
Feasibility Study Gambia 0 4.000 ( 1.333 ) 2.667
Feasibility Study Mauritania 15.424 3.490 ( 3.856 ) 15.058
Feasibility Study Chad 1.390 6.949 ( 7.297 ) 1.043
Feasibility Study Haiti 625 ( 625 ) -
Feasibility Study Perù 1.648 ( 1.648 ) -
Feasibility Study Ethiopie 2.128 ( 2.128 ) -
Feasibility Study Ecuador 0 10.211 10.211
Feasibility Study LAC 0 12.456 ( 12.456 ) 0
Feasibility Study Sierra Leone 0 7.919 ( 7.919 ) 0

Total 161.228 109.838 ( 105.345 ) 165.720

The Extraordinary maintenance costs refer to the partial adjustment of the roof of the headquarters.

The extraordinary expenses of Cascina relate to interventions for a total of € 172,973.04 that are

amortised over the remaining years of the contract.

The feasibility studies include the costs incurred for missions and consultancy for projects that are or

will be presented to various financing bodies and for the opening of new countries/sectors of

intervention. They thus refer to advances which will be charged to projects once these have been

approved; in case of non approval of the project, non opening new country/sector, the feasibility study

will be included in the year cost.

BII) Tangible assets

Following are the variations of tangible assets in Milan, gross of their relative depreciation funds:

5
 31/12/2018 Increase Depreciation Variation 31/12/2019

BUILDING 235.291 47.000 282.291

PLANTS 131.975 - 131.975
Headquarter Plants 59.714 59.714
Electrical and telephone 72.261 72.261
OTHER 665.482 8.178 672.777
Equipment 9.868 9.868
Vehicles 10.000 10.000
Furniture 61.515 61.515
Electr. Office equipment 44.979 44.979
Gener. Office equipment 90.609 90.609
Foreign seats assets 448.512 8.178 (883 ) 455.807
Total 1.032.748 55.178 (883 ) - 1.087.043

In November 2019 the remaining part of the property in Marsala, partially acquired in 2014 through a
donation, was purchased for 47,000 euros.

Following are the variations in the depreciation funds:

31/12/2018 Deprec. Uses Variation 31/12/2019

Civil property 9.870 3.055 12.925
PLANTS 131.975 - - - 131.975
Buildings 59.714 59.714
Electrical and teleph. 72.261 72.261
OTHER 594.547 39.434 892 (-883) 633.990
Equipment 9.868 9.868
Vehicules 10.000 10.000
Furniture 61.515 61.515
Electr. Office equipm. 44.979 44.979
General Office equipm. 90.609 90.609
Foreign seats assets 377.577 39.434 892 (-883) 417.020

Total 736.392 42.489 892 (-883) 778.890

With regard to property category, depreciation refers to the part of good which is not in free assets.

Following are the variations in tangible assets held at the foreign seats:
31/12/2018 Increase Uses Variations 31/12/2019
Bolivia 31.644 31.644
DRCongo 38.093 8.178 883 45.388
Ethiopia 52.214 52.214
Guatemala 38.658 38.658
Haiti 62.711 62.711
Kenya 3.143 3.143
Malaw i 28.620 28.620
Paraguay 52.365 52.365
Peru 47.674 47.674
CAR 64.665 64.665
Sudan Darfur 28.725 28.725
Chad 0 0
Total 448.512 8.179 884 - 455.807

6
 Following are the variations in tangible assets held at the foreign seats:

Depreciatio Depreciatin Total

n funds for funds for depreciatio
31/12/2018 projects coordin. n Uses Variation 31/12/2019
Bolivia 31.644 - 31.644
DRCongo 38.093 151 151 883 37.361
Ethiopia 52.214 - 52.214
Guatemala 38.658 - 38.658
Haiti 55.222 7.489 7.489 62.711
Kenya 329 741 741 1.070
Malawi 14.931 8.218 8.218 23.149
Paraguay 43.259 9.104 9.104 2 52.365
Peru 18.069 10.224 10.224 28.293
CAR 64.665 - 64.665
Sudan 20.491 4.398,25 4.398 24.889
Chad 0 - 0
Total 377.576 39.434 893 40.326 883 2 417.021

During the year an inventory was carried out in each foreign seat. The value assigned to each good is
equal to the purchase price less the depreciations carried out in previous years according to Coopi’s
internal procedures, in agreement with the procedures laid out by the various Donors.

BIII) Financial assets

The value of financial assets includes one hundred and twenty-eight shares, worth of euro 52,5 + euro 5
for supplement for each share, at Banca Etica.

Point 3) Plant and enlargement costs, research and development costs, advertising costs
During the accounting year, advertising costs, were incurred for an amount of € 143,725; these expenses
were fully expensed during the year.

Point 3 bis) Reduction of the value of intangible assets

No such reduction of value has been carried out.

Point 4) Variation of other voices in the assets and liabilities accounts.

FLOATING ASSETS
1) Leftovers
As already mentioned, values of € 29,360 have been recorded in the item "Stock of valuables" relating
to a bequest received during 2017. The value is given by an expert report and reported in great detail
in notarial and banking documents. The contents have been deposited in a safe deposit box.

7
2) Credits
Credits towards donors
31/12/2018 31/12/2019 Variation

European Commission 557.031 1.556.953 999.922

ECHO 1.292.959 775.318 ( -517.641 )
Italian Ministry of
Foreign Affairs and other
italian entities 1.554.171 91.733 ( -1.462.439 )
UN Agencies 1.306.492 1.510.317 203.824
Other 929.241 190.403 ( -738.838 )

Total 5.639.895 4.124.723 ( -1.515.172 )

Tax credits
31/12/2018 31/12/2019 Variation

Tax credits 16.821 17.827 1.005

Total 16.821 17.827 1.005

Credits towards third parties

31/12/2018 31/12/2019 Variation

Projects 85.223 102.847 17.624

Deposits 18.302 18.302 -
Employeers and other staff 2.251 417 (-1.833)
Ecuador VAT credit 7.111 7.358 247
Malawi VAT credit 0 168.461 168.461
Other 513.600 502.095 (-11.506)

Total 626.487 799.480 172.993

3) Variations in the credit devaluation fund

There are no variations in the credit devaluation fund in the balance sheet at 31 December 2019.

4) Liquidity
The bank accounts include interest earned at the closing date of the accounting year.
The “cash” item includes local currencies, stamps, revenue stamps, foreign currencies valued at the
year-end exchange rate for deposits in Italy and at the infoeuro exchange rate of the month of
December for foreign deposits.

Description 31/12/2018 31/12/2019 Variation

Bank accounts ITA 3.070.297 3.530.973 460.676

Cash ITA 5.931 6.884 953
Post office accounts 390.772 774.390 383.618
Cheques 5.213 4.150 (-1.063)
Foreign seats liquidity 3.935.730 5.315.722 1.379.992
Total
7.407.943 9.632.119 2.224.175

8
 LIABILITIES

1) Risks and charges fund

31/12/2018 Increase Use 31/12/2019

Risks and charges fund 0 37.591 0 37.591

Total 0 37.591 0 37.591

2) Severance payment fund

This represents the actual debt toward employees at 31.12.2019 and it has been calculated according
to current law and for all current employee contracts.
Following is the analysis:

Allowance for the Decrease for leavers and

31/12/2018 year taxes 31/12/2019

491.215 90.868 (-76.228) 505.856

3) Debts
Following is a table which summarises the debts:

Type of debt 31/12/2018 31/12/2019 Variation

Debts towards banks 2.781.349 3.100.006 318.657

Debts towards suppliers 207.603 185.304 (-22.299)
Debts towards donors:
* amounts to be refunded 0 0 0
Taxes:
* revenue for tax withheld at source 47.887 36.468 (-11.419)
Debts towards social welfare 117.450 121.578 4.128
Other debts:
* debts towards staff 515.408 563.491 48.083
* debts towards other NGOs 86.996 86.996 0
* debts towards projects 1.549.614 716.202 (-833.412)
* other 935.841 761.918 (-173.923)

Total 6.242.149 5.571.963 (-670.185)

Debts towards banks are made up exclusively of current accounts with utilization of anticipated funds
from banks on contracts.
Debts towards projects are made by the invoices to be received from suppliers.

Point 5) Shares in held or connected companies

The organisation does not hold shares in other companies.

Point 6) Credits and debts with a residual duration of over 5 years.

On the 31/12/2019 there are no debts with a duration of over 5 years.

9
 Point 6bis) Variations in the exchange rates
There are no significant variations in the exchange rates after the closing of the accounting year.

Point 6ter) Credits and debts with obligatory demotion

There are no such credits or debits.

Point 7) Accruals
Following is the table regarding accrued assets:

Accrued assets 31/12/2018 31/12/2019 Variation

Deferred expenditures 11.764 6.580 (-5.183)

Deferred expenditures for
projects 14.611.518 3.569.228 (-11.042.290)

Total 14.623.282 3.575.809 (11.047.473)

Project deferred expenditures is the reversal of costs relating to projects whose activities will continue in
2020. The variation compared to last year is justified by the partial change in the registration method.
Until last year, all grants received and all costs incurred were deferred for each project. Starting from this
year, the balance between grants received and costs incurred will be recognised for each project; this
has no effect on the income statement and net assets.

Following is the table regarding accruals:

Accrued costs 31/12/2018 31/12/2019 Variation

Accrual for labour costs 197.901 201.115 3.213

Total 197.901 201.115 3.213

Following is a table of deferred revenues:

31/12/2018 31/12/2019 Variation

Deferred revenues for projects 20.995.932 10.261.499 (10.734.433)

Total 20.995.932 10.261.499 (10.734.433)

Deferred revenues refer to incomes received during the year, which pertain to projects, which have not

ended their activities and have not been reported. The change compared to last year is justified by the

partial change in the registration method. Until last year, all grants received and all costs incurred were

deferred for each project. As of this year, the balance between the grants received and the costs

incurred will be recognised for each project; this has no effect on the income statement and

shareholders' equity.

Point 7bis) Capital and net assets structure

10
 Net assets are as follows:
31/12/2018 Increase Decrease 31/12/2019

I) Common fund 70.000 70.000

VI) Statutory reserves 0 0
VII) Other reserves: 0 0
*Extraordinary reserve 180.457 180.457
*Projects fund reserve 1.066.696 645.753 1.712.448
*Other reserves (rounding up/down) 0 150.000 150.000
VIII) Renewal fiscal year surplus/deficit 0 0
IX) Current year surplus/deficit 44.144 87.717 (-44.144) 87.717

Total 1.361.297 883.470 (-44.144) 2.200.623

The net assets of the Foundation consists of the Common Fund, which includes the initial allocation of
70.000 euro. The net assets included 180.457 euro for three properties located respectively in Marsala,
CAR and in Paraguay.
The project funds reserve includes the Foundation's available funds, which are allocated to projects on
an institutional basis but without a contractual commitment. The "country projects fund" share was
increased by € 600.000 also in view of future growing co-financing and investment commitments in line
with the current size of the Foundation, in addition to the transfer of profits from previous years to
44.,144. In addition, the provision made last year was used on the 5 per thousand portion equal to €
20.520.
Finally, a new fund has been created for the opening of new countries with a view to developing
activities in areas that are currently not covered; 150.000 euros have been set aside in this fund.

Point 8) Capitalised financial costs

There are no capitalised financial costs.

Point 9) Commitments not detailed in the Assets and Liabilities accounts

The Foundation has received some bank and insurance guarantees from third parties: at the end of the
financial year there were 18. These guarantees are in place respectively with Banca Etica (17) and BNP
(1) to guarantee advances paid or contractual obligations to the donors.
The total guaranteed as of 31/12/2019 amounts to € 2.325.644 (compared to € 1.938.373 the previous
year.

Point 10) Revenues by activity and by geographical area

Gross revenues in 2019 are € 48,953,152 and gross costs € 48,542,730.
The items are broken down in the following table, as the Foundation operates in different territorial areas
and with different types of intervention.
The item "other" includes all the activities in Italy while the item "foreign offices" relates to coordination.

Geographical area Revenues

Central Africa 23.406.082
Western Africa 5.836.103
East and Southern Africa 13.363.318
Latin America and Caribbean 1.897.205
Middle East 3.329.956
Italy 1.120.488
Total 48.953.152

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 Destination costs Costs
Emergency 38.972.143
8.576.525
Development
Foreign offices 677.502
Other 63.771

Total 48.562.730

Point 11) Revenues from bonds

There are no revenues from bonds.

Point 12) Interests and other financial costs

Following is a table with the current year’s financial revenues and costs:
2018 2019 Variation

Positive interests on bank and post office 1.262 263 (-999)

Positive exchange rate difference 742.252 250.050 (-492.202)
743.514 250.313 (-493.201)

Negative interests on bank accounts (-160.188) (-184.539) (-24.350)

Negative exchange rate difference (-570.343) (-388.478) 181.865
(-730.531) (-573.017) 157.514

Total financial situation 12.983 (-322.704) (-335.687)

Point 13) extraordinary revenues and costs

Following are extraordinary costs and revenues as per the Profit and Loss Accounts:

Name Year 2019 Year 2018

CONTINGENT LIABILITIES € 210.483,30 € 382.308,58
Reclassified under items:
LOSSES ON RECEIVABLES € 179.565,48 € 262.129,94
CHARGES € 5.207,44
DIRECT LOCAL COSTS FOR OTHER CHARGES € 25.710,40 € 120.178,64

CONTINGENT ASSETS € 49.000,13 € 86.843,60

Reclassified under items:
REVENUES FROM FOREIGN OFFICES € 47.011,39 € 36.231,92
MISCELLANEOUS INCOME € 1.988,74 € 50.611,68

Point 14) Taxes

The Foundation is dispensed from paying IRAP, due to it being qualified as an ONLUS, according to art.
7, Law 27 of 18/12/2001 (Regional Financial 2002 Regione Lombardia).
There are currently no debts with regards to this item and the Foundation is not undergoing any tax
inspection.

Point 15) Employees

The variations have been the following:

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Employees as at 31.12.2018 48
Hired 9
Dismissed (11)

Total as at 31/12/2019 46

From 2015 the costs incurred on site previously classified entirely between the service costs they are reclassified
according to their nature.
The local staff costs are included in section B.9.e "other personnel costs".

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PERSONNEL DATA

Personnel working in Italy:

31/12/2018 31/12/2019 Variations

Employees 48 46 -2

Collaborators 9 13 +4

TOTAL 57 59 +2

The contract applied to employees is the “Contratto Collettivo Nazionale del Commercio” (National
Commercial Collective Contract). The contracts referred to the Framework Agreement of the 01.04.2018 valid
until 31/3/2021.

Expatriates

Geographical area in where they work 31/12/2018 31/12/2019 Variations

Africa 97 106 +9

Latin and Central America 12 18 +6

Middle East 10 13 +3

TOTAL 119 137 +18

Nationality 31/12/2018 31/12/2019 Variations

Italian 59 64 +5

Foreign 60 73 +13

TOTAL 119 137 +18

Local staff

Geographical area in where they work 31/12/2018 31/12/2019 Variations

Africa 1217 1153 -64

Latin and Central America 53 58 +5

Middle East 60 78 +18

TOTAL 1330 1289 -41

Point 16) Payment of Administrators and Statutory auditors

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 No payments have been made to Administrators or to Auditors. To the Society BDO Italy SpA has been
made a fee of 12.000 euro (plus expenses and VAT) for the balance audit for a total of 14.884 euro.

Point 17) Number and nominal value of shares

The Foundation has not issued shares during the year 2019 nor previously.

Point 18) Shares and convertible bonds

The Foundation has not issued shares nor convertible bonds during the year 2019 nor in previous years.

Point 19) Financial tools issued by the company.

The Foundation has not issued financial tools during the year 2019 or in previous years.

Point 19bis) Members’ finding

The Foundation does not use funding from members as a means of funding.

Point 20) Assets with specific destinations

The Foundation does not hold goods part of assets destined for a specific use.

Point 21) Information regarding ex. Article 2447-decies comma 8

The Foundation does not have any finding destined to a specific business; where the revenues from any
such funding would be destined to partially or wholly reimbursing the funding received.

Point 22) Financial lease

There have been no lease contracts during the year 2019.

Point 23) Transactions with related parties pursuant to art. 2427, paragraph 1 no. 22-bis
No transactions were carried out with related parties that are relevant for the purposes of the above
standard.

Point 24) Agreements not resulting from the Balance Sheet referred to in Article 2427, paragraph 1
no. 22-ter
There are no other relevant agreements within the meaning of the above mentioned rule, not resulting
from the state of affairs.

Point 25) Information on significant events occurring after the end of the financial year - Article
2427, paragraph 1, no. 22, quarter of the Italian Civil Code
With regard to the reporting of the main events occurring after the end of the financial year, the following is
specified.
At the closing date of these Financial Statements, all the countries in the world, including, unfortunately,
Italy, are faced with an important health emergency due to the spread of COVID-19.
COOPI Foundation, is facing this difficult situation by implementing a plan to protect its employees,
collaborators, suppliers and associates both on the foreign sites and at the headquarters, favouring where
possible agile work measures and making operations safe through appropriate protocols.
The economic impact on COOPI's activities is difficult to quantify as the Foundation operates in more than
twenty countries, where the level of impact is quite different; at present, however, there are some
situations of slowdown in local activities but all countries are operating even if with more complex working
conditions. Business continuity is not in question.

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 In any case, the Foundation is able to cope with any economic imbalances thanks to the equity reserves at
its disposal, set up to respond adequately to unforeseen crisis situations.

Point 26) Any significant effects of currency exchange rate changes occurring after the end of the
financial year - art. 2427 c.1 n.6 bis c.c.
Subsequent to the end of the financial year, there were no changes in currency exchange rates such as to
generate significant effects on assets and liabilities denominated in foreign currencies.

Point 27) Information relating to derivative financial instruments - Article 2427 bis c.1 n.1 of the
Italian Civil Code
At the closing date of the financial year, no derivative financial instruments were used, nor were financial
instruments with derivative requirements separated from company contracts.

Point 28) Information on companies or bodies exercising management and coordination activities -
Article 2497 bis of the Italian Civil Code
The company is not subject to management or coordination activities by third party companies or entities.

Point 29) Proposal for allocation of profit for the year

On the basis of the above, it is proposed to allocate the profit for the year, amounting to a total of euro
87.717, as follows:

- Entirely to the Project Fund reserve.

Point 30) Other management information

31/12/2018 31/12/2019 Variation

Mem bership fees 7.400 7.500 100

This includes all those fees that regard the members.

CHILD SPONSORSHIP 31/12/2018 31/12/2019 Variation

Revenues 468.613 452.428 (-16.184)

Costs (14.755) (16.233) (-1.479)
Transfer to projects 357.917 341.031 (-16.886)

This relates to revenues and costs incurred for the promotion of fundraising campaigns. The transfers
made to the final beneficiaries are highlighted separately.

USE OF 5X1000 FUND

During the 2019 financial year, funds amounting to € 82,520.04 were used, allocated for the "5 per mille"
relating to 2016 and received on 16/08/2018; the funds were used in favour of the following 4 projects:

- "Reducing the incidence and mortality of tuberculosis among Somalis" in Somalia

- "Promoting resilience by increasing disaster risk reduction, good practice and know-how on protection,
education, risk monitoring" in Paraguay
- "Food and nutritional security for the population living near Upemba National Park in the territories of
Mitwaba and Malemba N'Kulu" in the Democratic Republic of Congo

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 - "Project for the Improvement of Climate Resilience and Food Security in Rural Municipalities of
Soucoucoutane and Dogonkiria" in Niger

STATEMENT OF COSTS INCURRED FOR THE 5X1000 FUND

1. Human resources

2. Operating costs

3. Purchase of goods and services

4. Contributions in accordance with its institutional purpose

5. Other expense entries related to the achievement of the corporate

82.520
purpose

6. Allocation

TOTAL EXPENSES 82.520

These notes to the to the Financial Statements are consistent with the accounting records and correctly
reflect the administrative events as they occurred.

COOPI – COOPERAZIONE INTERNAZIONALE

The President
Claudio Ceravolo

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