Financial report

The independent annual audit of the 2022 ISC financial statements was successfully concluded in March 2023, with no remarks by the auditor.

With the return of the possibility to meet in person after the COVID-19 pandemic, expenditure on all domains of activity picked up in 2022, with the result that expenditure exceeded income by 99,283 EUR for the year. This was an intended and healthy result, in line with advice from the ISC auditors to reduce the accumulated funds to reflect the ISC’s status as a non-profit organization.

Membership dues and returns on the ISC sustainable investment portfolio were lower than expected in 2022, largely as a result of the war in Ukraine. ‘Other income’, large in 2022, includes canceling provisions on arrears in dues and returning unspent funds after the closure of the Regional Office in Africa.

Statement of income and expenditure 2022

Membership dues2,754,936
Earmarked funds (grants)2,573,270
Other income762,534
Sustainable Investment Portfolio33,713
Total income6,124,453

Governance activities234,084  
Science activities1,170,569  
Earmarked funds (carried over from 2022 to 2023)1,422,445  
Communications and outreach activities182,182  
Operations & support932,099  
Total expenditure6,223,735  
Excess of expenditure over income– 99,283

Balance Sheet 2022

Bank and cash balances3,241,613
Marketable securities2,385,793
Others assets   105,001
Fixed assets63,935
Total assets5,796,342
External funds allocated1,422,444
Sundry creditors & accruals  718,823
Provision / Retirement204,128
Total liabilities2,345,395
Reserves Euros
Mandatory reserve1,500,000
General fund / Retained earnings2,050,230
Total reserves3,550,230
Net Result 2022–  99,283
Total reserves 1 Jan 20233,450,947


Skip to content