The result in 2016 was 56.270 euro, which is roughly 15.000 euro higher than budgeted.
Both ENDS did not have substantial special, non-recurring income in 2016 or any income / expenses from previous years that may have affected the result.
Almost all of Both ENDS’ revenue comes from project funding, which includes grants from governments or (inter)national funds. Projects may last one or several years.
The project’s financial statement lists the duration of all projects.
The strategic partnerships with the Ministry of Foreign Affairs started in 2016 and will run until 2020.



The support costs on objectives are allocated to the objectives based on time spent on a given project.
Both ENDS mainly monitors the ratios excluding the FGG partners, as Both ENDS has no influence over the FGG partners’ expenditures.
The expenditures on objectives are slightly below the goal, which is the result of organisational changes and the starting-up costs of the new strategic partnerships.


Both ENDS does not invest the reserves.

The reserves of the Joke Waller–Hunter Initiative Foundation are being invested. These investments are based on a defensive strategy and are being made by Triodos Bank. The portfolio consists entirely of sustainable investments. The aim of these investments is to maintain a stable fund. Every year the Foundation’s board determines the maximum amount of withdrawal from the fund. The Foundation’s board is responsible for changing the investment strategy. Triodos Bank reports on the investment results every quarter.

The composition of the portfolio as of 31 December 2016 was as follows:


The investment performance in 2016 was as follows: