Dear supporters and friends of our Bosnia & Herzegovina Futures Foundation,
Over the past few years we have grown exponentially. We have more scholars, mentors, donors and ambassadors, which means our impact on the youth of Bosnia and Herzegovina is constantly increasing. This also means that our effort – the time and financial requirements are growing. BHFF has always been and will always be, by the people for the people. Our work therefore relies on the support of individuals who love Bosnia & Herzegovina and on the goodwill of the youth in BIH who have so much to offer in terms of transforming our homeland for the better when given the opportunity to shine.
Our mission is to empower the youth through education, technology and leadership, and to shape the next generation of change makers. In order to reach our goals, together with our supporters, we will always be transparent and open about our operations. This financial report, which outlines our income and expenditure, is an example of our commitment to transparency. If you have any additional questions regarding the report, please don’t hesitate to contact us. Our board of directors ensures that we are utilising our donors’ funds in the most ethical and fair manner. The board will gladly answer all additional questions.

Expenditure Overview 2020

Due to COVID-19 most of our activities and events were undertaken online and in some cases postponed. This significantly influenced our budget. The highest percentage of our budget was expended on our Scholar Program (we onboarded 99 new scholars) and on our Scholar Program manager. Thanks to our highly developed voluntary based network of leaders, mentors, ambassadors, changemakers and advisors, we managed to organize a vast number of online educational activities and events that had a profound impact on all of our stakeholders, particularly on our Scholars.

We also managed to invest our surplus into our endowment which will ensure our long term legacy. We are especially thankful to all individuals who decided to express their support for our vision and mission by becoming monthly donors. They played an enormous role in helping us further develop our comprehensive programs and scale up our work in order to have a bigger impact on the youth of BIH. It is with their help that we will be able to transform the lives and empower 10000 students by 2030 – if not earlier! Our monthly donors are joined by many professionals from BIH and abroad who are investing their time and knowledge on a regular basis – an equally appreciated and meaningful act of solidarity. Their time invested is reflected in our in-kind budget.

Financial Projection 2021

For 2021 our foundation has set big goals and would like to expand the portfolio of programs, projects and activities, but also to work on improving existing ones. Against the backdrop of the COVID pandemic, a special focus will be placed on online activities and engagement. We have created a projection of expenditure with funds allocated against nine different categories directly related to the advancement of our mission. Three categories relate to indirect costs and one category is a reserve fund for investing into the future (through the establishment of a legacy endowment fund through which BHFF will fund its activities well beyond the lifetime of current members).

Our main sources of income remain the same (donors and income from projects) with marginal differences in percentages. In 2021 we will rely more on our monthly donors and one-time donations rather than project-based income. The purpose of this approach is that it allows BIH citizens and friends of BIH to directly contribute to the education and empowerment of our future leaders. We want to be recognized for the quality and transparency of our work so that our supporters see their investment into BHFF as a direct investment into the future of Bosnia & Herzegovina. Our current projections estimate a 70% increase of monthly donors of supporters by the end 2021, with the potential to linearly grow in the years to come.

*An in-kind contribution is a contribution of a good or a service other than money. In this report we are referring to an estimated amount contributed by various individuals through their time/expertise. It should be noted that BH Futures Foundation is a volunteer based organisation. The entire board, leadership and project committees are volunteer based, contributing thousands of hours annually to our mission and vision. The foundation employs a single part-time employee who oversees, manages and guarantees quality assurance of our scholar program.

BH Futures Annual Report 2020

Expenditure Overview 2020

Financial Projection 2021