FINANCIAL STATEMENTS
December 31, 2019 

INTRODUCTION 

LabOasis Foundation was established on July 13, 2015 by a notarial act (repertory n.44.909 collection n. 21.416) upon the will of its founder, Mrs Violante Pallavicino, with the aim of arousing a greater interest in the eco-systems called Oases, in North Africa, West Africa and on the Arabian peninsula, reversing the trend of abandon and progressive deterioration of those lands, and supporting the communities that live there to actively preserve their historical-cultural and environmental heritage. The financial year, which closed on December 31, 2019, was prepared according to the general criteria foreseen by the Italian Civil Code regarding financial statements for commercial businesses, and the technical and operational guidelines of the National Council of Chartered Accountants for organizations that work within a social context. Non-profit organizations need to be first and foremost transparent in their financial statements and representation. To this end, the information provided by the financial statement, which is generally of a financial nature, is accompanied by the appropriate descriptive information regarding the activities that have been carried out. Particular importance has been paid to the auditing procedures, carried out, as for the year 2018, by Dott. Roberto Capriata. 

STRUCTURE AND CONTENTS OF THE BUDGET 

The Financial Statements for the year ending on December 31, 2019 consist of the balance sheet, income statement and these Integrative Notes. In accordance with Article 2423 ter of the Italian Civil Code, for each item listed on the balance sheet and the income statement, the amount of the corresponding item from the previous year will also be listed in order to compare them and note any variations in value.
The evaluation of the assets is made according to criteria set out in Article 2426 C.C., based on prudence and the prospect of continuing the activity. Application of the prudence principle has brought about the indication of only the proceeds that have been realized at the end of the reporting period and all the expenses for the year, even if these were known after the closing date. The amounts shown in the body of the report are expressed in units of euros, according to Article 2423 paragraph 5 of the C.C. 

EVALUATION CRITERIA 

The financial statements have been made on the basis of general prudence criteria with respect to economic competence and the evaluation of the prospects of continuing the activity of the foundation. No indication of the criteria that has been adopted to draft the founder’s financial statements is necessary inasmuch as the amounts are expressed with their nominal numerical value. 

BALANCE SHEET 

AVAILABLE CASH: Euro 15.375 ( Euro 15.211 al 31.12.2018) 

• Euro 13.131 – c/c balance at the Banca Generali 

• Euro 2.244 – cash amount as of December 31, 2018 

NET ASSETS
Net assets amount to 15.375 ( Euro 15.211 at 31.12.2018) due to the management deficit of Euro 164.
Annex1 contains a description of the net assets. 

REVENUE AND EXPENDITURE ACCOUNT 

INCOME AND REVENUE
This has been received by the founding member without any obligation of destination. 

PRODUCTION COSTS 

Costs from typical activity 

Euro 19.442 (Euro 24.364 – including other projects – in 2018) summarizes the expenses that LabOasis Foundation has had for the following projects: 

• Programme and Award the Oasis Effect – Euro 15.264 (Euro 4.006 in 2018) already started and interrupted by the Covid-19 pandemic. Costs include Selection of Participants, Partners and travels for surveys; 
• The Oases Database – Euro 4.178 (Euro 5.404 in 2018) 

General Expenses 

Euro 18.394 (Euro 1.991 nel 2018) include limited amounts of office supplies and administrative costs as well as the costs incurred in 2019 for the use of the spaces available to the Foundation (amount not present in 2019). 

EVENTS AFTER CLOSING THE FINANCIAL YEAR 

There were no events in the first months of 2019 that could alter the results of the financial year, as declared in this financial statement. 

As known, from January 2020 the national and international scenario have been affected by the spread of Covid-19 and by the consequent restrictive measures for its containment put in place by the public authorities of the concerned countries. Such circumstances, extraordinary by nature and extension,have direct and indirect repercussions on the economic activity. They have created a general context of uncertainty, which developments and relative effects are not predictable. The potential outcomes of this crisis on the Financial Statement 2020 of the LabOasis Foundation are not yet identifiable and they will be the object of constant monitoring through the current financial year. 

Fondazione LabOasis
The Auditor
Roberto Capriata

LabOasis Foundation
The President
Violante Pallavicino

Balance sheet 2019

  Balance sheet 2019

Management 2019

Projects Management 2019