The COVID-19 pandemic resulted in lower than expected expenditure on governance functions in 2021, as statutory meetings and meetings of project steering groups moved online, and communications expenses were also lower than expected. The continuation of the pandemic continues to create uncertainty for the ISC and for many of its members, and a fundraising strategy is being developed to provide additional support for the ISC’s future activities in the coming years.
Assets and liabilities
Balance sheet
International Science Council (ISC) for the period 1 January to 31 December 2021
| Assets | (Euros) |
| Bank & cash balances | 3,732,262 |
| Marketable securities | 2,446,074 |
| Other assets | 59,409 |
| Fixed assets | 60,710 |
| Total assets | 6,298,455 |
| Liabilities | (Euros) |
| External funds allocated | 1,801,020 |
| Sundry creditors & accruals | 742,670 |
| Provision/Retirement | 204,536 |
| Total liabilities | 2,748,226 |
| Reserves | (Euros) |
| Mandatory reserve | 1,500,000 |
| General fund/Retained earnings | 1,998,021 |
| Total reserves | 3,498,021 |
| Net result | 52,208 |
Statement of income and expenditure
International Science Council (ISC) for the period 1 January to 31 December 2021.
| Income | (Euros) |
| Membership dues | 2,953,450 |
| Earmarked funds | 2,711,906 |
| Other income | 43,714 |
| ISC Sustainable Investment Portfolio | 122,423 |
| Total income | 5,831,493 |
| Expenditure | (Euros) |
| Governance | 67,577 |
| Science activities | 1,078,510 |
| Dedicated funds to support the ISC activities (carry over from 2021 to be used in 2022) | 1,801,020 |
| Communications: Corporate communications, Branding, Publications, Outreach activities… | 66,402 |
| Support | 2,765,776 |
| Total expenditure | 5,779,285 |
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