Further Notes to the Annual Accounts

Remuneration Managing Director

The remuneration of the Managing Director of War Child in 2019 is €114,198, which is well below the maximum of € 156,754 (1 full time employee for 12 months) as set by the guideline for Directors’ Remuneration of the Dutch association for fundraising organisations Goede Doelen Nederland (GDN), based on a BSD score for War Child of 520 points.

The annual remuneration together with all taxable allowances and all employer’s charges, pension compensation and other remuneration on the long term is €137,655  which is also well within the maximum set by the guideline of € 194,000  (1 full time employee for 12 months).

War Child has followed the ‘remuneration format' in the Regulations for the remuneration of directors of charity organizations of the sector organization 'Goede Doelen Nederland'. In this scheme, the employer's social security contribution is not part of the remuneration. However, in accordance with the Guidelines for Annual Reporting (RJ 650.328 / RJ 271.6), this component must be included in the remuneration. As a result, the amount of the employer's social security contributions (€ 10,197) was not included in the director's remuneration in 2018. This means that the total remuneration (including social security charges) amounts to EUR 147.262 for 2018. This material misstatement, based on the accounting principles, has been corrected in the comparative figures 2018.

Remuneration Supervisory Board Members

No remuneration is offered to Supervisory Board members and no loans, advances or guarantees existed in 2019. Members of the Supervisory Board occasionally visit War Child's field offices if this is relevant in respect of their role. Expenses related to the travel are paid by War Child and it is left to the discretion of the Supervisory Board members to reimburse the expenses to War Child. In 2019, no expenses were incurred for Supervisory Board members.

Number of Employees

The average number of fulltime equivalent employees (FTE) increased by 11 per cent (49 FTE) to 496 FTE, which is in line with the overall increase in War Child's total expenses of 13 per cent.

Pension Plan

The pension charge recognized for the reporting period is equal to the pension contributions payable to the pension fund over the period. War Child's head office pension plans are in accordance with the conditions of the Dutch Pension Act. It is a defined contribution system without indexing arrangements. War Child's pension insurance company is Brand New Day. There are no self-administered pension plans. There is a strict segregation of the responsibilities of the parties involved and of the risk-sharing between the said parties (War Child, Brand New Day and staff).

In its project countries, War Child acts in accordance with local pension laws and regulations.

Adoption of Financial Statements

The Financial Statements are prepared by the management of War Child. On the condition of obtaining an unqualified opinion of the independent auditor the Financial Statements were unanimously adopted by the Supervisory Board of War Child in its meeting of 28 May, 2020.

Amsterdam, 28 May 2020

Supervisory Board: Peter Bakker (Chair), Willemijn Verloop (Vice Chair), Hans van den Noorda, Rob Theunissen (Treasurer), Raymond Cloosterman, Edith Kroese, Arjan Hehenkamp and Stef Oud

Managing Director: Tjipke Bergsma