Annual report 2021

Annex to the accounts

Annexe to the accounts for the exercise ended 31 december 2021 (extracts)*

* The annexe and full report can be downloaded from our website


a) General

The accounts are based on the annual accounts as at December 31, 2021, which have been prepared in accordance with uniform principles. Amounts in the accounts are rounded, which may result in minor discrepancies in the totals.

Fondation Hirondelle adopts the Zewo method for calculating project, administrative and fundraising expenses.

b) Scope of integration

The accounts contain the annual accounts of all Fondation Hirondelle offices in Mali, Niger, Burkina Faso, Central African Republic, Democratic Republic of Congo and Madagascar.

It should be noted that on 30.06.2021 we closed our project in Madagascar, which became an independent entity we continue to support as an external partner.

Since 2019, Fondation Hirondelle has also integrated the activities of Fondation Ndeke Luka, of which it has control. The capital of FNL has been integrated into the capital of FH.

c) Conversion of foreign currency

Transactions in foreign currencies are converted at the average rates of the month N-1 in which they are recorded.

Foreign currency assets and liabilities in the balance sheet as at December 31 are converted into Swiss francs at the rates prevailing on December 31. The results of these conversions are recorded in the financial result.

d) Cash and cash equivalents

Cash in hand, in postal accounts and in banks at headquarters and abroad are shown in the balance sheet at their nominal value.

e) Receivables and accruals

Receivables and accruals are stated at their nominal value less any necessary value adjustments.

f) Property, plant and equipment

Fondation Hirondelle uses the straight-line method of depreciation as follows:

IT equipment: 3 years from 1,000 CHF per unit

Other equipment: 3 years from 2,000 CHF per unit

Fixed assets abroad*        Direct depreciation

*Fondation Hirondelle uses equipment and vehicles for its projects abroad; these are fully depreciated when they are put into service. This situation is justified by the instability of the contexts and difficult conditions in which Fondation Hirondelle operates, which make it difficult to determine their generally short useful life and residual value.

g) Financial assets

Financial fixed assets are recorded in the balance sheet at acquisition cost, taking into account the necessary value adjustments.

h) Provisions

Provisions represent the value of future cash outflows resulting from past events, occurring without compensation. A reliable estimate of the amount of the provision can be made. These provisions are separated into short-term if the use is estimated to be less than twelve months, or beyond that if the provisions are allocated to long-term.

i) Product recognition

Funding contracts

Revenue from funding contracts with donors (governments, foundations, cantons, companies and others) is recognized as revenue in the year in which the funded expenditure is incurred.

Amounts received for a specific project, which have not been used at the balance sheet date and will be used in future years, and where there are contractual stipulations specifying the possibility of returning the asset to the funder, are recorded under the balance sheet liability item “Deferred financing”. Amounts not received for a specific project for which the financed expenses have been incurred at the balance sheet date are recorded under the balance sheet heading “Financing receivable”. The portion of financing receivable for signed funding contracts covering future periods is disclosed as a contingent asset.

Budgetary commitments related to funding contracts are considered as contingent liabilities.

Income from services and donations

Income from services provided (management contracts, expert services, etc.) is recognized when it is definitively acquired by Fondation Hirondelle. It is considered as unrestricted income, unless otherwise specified by the donor.

All other income received without specific earmarking is recorded as unrestricted income. If not used, the balance is allocated to free capital (generated).

Funds from the Swiss Agency for Development and Cooperation (SDC)

Summary of funding development (according to the capital variation chart)State of funds on 1.1.2021Attributions to fundsUtilisation for projectsPayments not spent as of 31.12.2021Payments to be received as of 31.12.2021State of funds on 31.12.2021
SDC programme contribution (IP)-56 6323 384 632-2 996 897331 103 331 103
SDC mandates and contributions from the Cooperation Bureaux (Buco) 65 5142 384 494-1 832 039617 968 617 968

j) Taxes

Fondation Hirondelle is exempt from direct income tax according to a decision of June 12, 1995. This decision is not subject to any conditions.

Fondation Hirondelle has been subject to VAT since 01.01.2019.

k) Fundraising and communication

Fundraising and communication expenses amounted to CHF 315,666, or 2% of the Fondation’s total expenses.


a) Funds governed by rules of usage

New project initiative fund (a)

There was no change in this fund in 2021.

Solidarity fund (b) / Social fund for Fondation projects (c)

In order to ensure a certain fairness to all our projects, it was decided by the Fondation Board that the various funds aimed at supporting Fondation Hirondelle employees in need in case of extreme situations would all be put into a single fund.

This fund is called the Solidarity Fund and totals CHF 39,218 as of 31.12.21.

Support fund (d)

The Support Fund, which is intended exclusively to consolidate the financial base of Fondation Hirondelle and to help provide it with the liquidity it needs, was replenished in 2021 by CHF 16,570 to reach a total of CHF 568,957. The funds come from free donations and from the Association of Friends of Fondation Hirondelle.

b) Compensation paid to members of governing bodies

The Select Board of Trustees and the Board of Trustees work on a voluntary basis.

The remuneration of the executive management team for 2021 amounts to CHF 409,881.60 (2020: CHF 409,113.60).