Foundation account

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Logo Wikimedia Belgium

Wikimedia Belgium has a Foundation bank account specifically to:

  • receive Foundation grants;
  • transfer funds to the short-term savings account
  • transfer funds to the expense account, at the start of each quarter, or when large project costs are due;
  • carry-over certain grants to the next year;
  • possibly return unused grants, after closing the financial year.

Logically at the end of the calendar year the Foundation bank account balance is zero:

  • At the end of the calendar year the Foundation account only contains unspent funds, that are either (partially) carried forward to the next year (for late projects), or returned to the Foundation – possibly subtracted from the next year grant.
  • Before the end of the year a provision is made for the carry-over and/or the repayments.


  • The Foundation account is not used for any other transactions then:
    • Send and receive to/from WMF
    • Only transfer to/from the short-term savings account or expense account
  • Only the Expense account is used to pay invoices, or volunteer expenses.


  • Sometimes the Foundation grants are either paid early or late; therefore extra provisions might be required
  • The balance of the Foundation account is reported on the jaarrekening (with provisions on debit/credit)

See also[edit]