The foundation’s basic assets amount to € 350,000.00.

The following graphical representation provides an overview of the income and the use of funds of the Foundation “Internationales Begegnungszentrum St. Marienthal”.

Revenue and appropriation of funds 2021

Non-profit status  (Download: Anlage zum Körperschaftsteuerbescheid
2021
)

In Germany, the non-profit status of a corporation is defined in Section 52 of the German Fiscal Code (Tax Code, AO).
“A corporation pursues charitable purposes if its activities are aimed at selflessly promoting the general public in the material, spiritual or moral spheres.”

With the attachment to the corporation tax certificate, the Löbau tax office responsible for us certifies that the St. Marienthal International Meeting Center Foundation is a corporation that promotes the following charitable purposes in its work:

  • Promotion of youth welfare
  • Promotion of education and upbringing
  • Promotion of environmental protection
  • Promotion of international spirit, tolerance in all fields of culture and the idea of international understanding

In the statues of the non-profit foundation „Internationales Begegnungszentrum St. Marienthal” you will learn more about, among other things:

  • the purpose of the foundation,
  • the foundation’s assets,
  • the foundation bodies,
  • the Board of Trustees and its duties,
  • the foundation board,
  • the board of trustees.

In addition to the balance sheet, the income statement is an essential part of the annual financial statements, i.e. the external financial reporting of the Foundation IBZ St. Marienthal.
It presents the income and expenses of a specific period, in particular a fiscal year, and thus shows the type, amount and sources of the entrepreneurial success from a financial perspective. If the income outweighs the expenses, the success is a profit, otherwise it is a loss.
In the income statement, success is determined by means of a “period accounting”; it takes into account all data relevant to the success of an accounting period. The period result can also be read from the “point in time calculation” of the balance sheet by comparing the level of operating assets on two successive reporting dates.

The balance sheet, together with the income statement, presents the economic performance of the Foundation IBZ St. Marienthal in a historical perspective (usually of the past financial year in the annual financial statements or at another reporting date).
A balance sheet is prepared as of a fixed date, while the income statement is prepared for a fixed period. The date for the preparation of the balance sheet is called the balance sheet date.
In terms of calculation, the balance sheet represents the summarized and systematically structured overview of assets determined from the accounting records as of a reporting date.
By comparing the closing balances of the various asset and liability accounts – in particular the capital account – at different points in time, the economic development of the Foundation IBZ St. Marienthal can be presented across time and can be understood by inspecting the accounting records.
The balance sheet fulfills the following functions:

  • Documentation function: The balance sheet provides binding information about the existing assets of the Foundation IBZ St. Marienthal. By recording the assets in the balance sheet, it becomes a significant accounting document under commercial and tax law for the transactions carried out by the Foundation IBZ St. Marienthal. The balance sheet thus represents the formal closing of the accounts.
  • Profit determination function: Another function of the balance sheet is to determine the profit for the period. The comparison of equity at the beginning of the financial year with that at the end of the financial year results in the profit or loss for a period, taking into account contributions and withdrawals. The profit or loss is shown in detail in the income statement, which precedes the equity account. (GuV).
  • Information function: This can be divided into self-information and third-party information. The aim of the self-information is to provide the merchant with an instrument for control in this way. For interested third parties (creditors, potential lenders, business partners, public authorities – e.g. tax office, Chamber of Industry and Commerce, social security institutions – employees), the balance sheet represents an information tool with regard to their future behavior towards the Foundation IBZ St. Marienthal. From this perspective, the balance sheet serves to protect creditors in a broader sense.

Colloquially, balance sheet also refers to the entire annual financial statements of a company.

The IBZ St. Marienthal Projekt-GmbH is a 100% subsidiary of the IBZ St. Marienthal Foundation.
The purpose of the GmbH is:

  1. the conception, implementation and accounting of projects of any kind, especially of projects that correspond to the purpose of the Foundation International Meeting Center St. Marienthal
  2. the development and implementation of educational and meeting measures
  3. as far as necessary, the logistical and catering support as well as accommodation of guests of the International Meeting Center St. Marienthal, in particular of participants in educational measures.

The IBZ St. Marienthal Betriebs-GmbH is a 49% subsidiary of the Foundation IBZ St. Marienthal and a 51% subsidiary of “We build bridges. Sponsoring Association of the International Meeting Center St. Marienthal e.V.”

Purpose of the GmbH is:

  1. the accommodation and hospitality of visitors of the Foundation IBZ St. Marienthal and the Cistercian Abbey Klosterstift St. Marienthal.
  2. the renting and leasing of buildings or parts of buildings to commercial users.

At Activity Report of the foundation “International Meeting Center St. Marienthal” you will learn more about:

  • the current projects
  • the current building activity
  • the implementation of the statutory objectives

Download Activity Report