Policy

ACTIVITIES OF THE FOUNDATION

The directors of the foundation will use their network, time and reputation to exploit all possible opportunities to realise fundraising.

The board actively participates in fundraising and oversee the aforementioned fundraising.

The board selects to support local charities and how the fundraising is realised in practice.

Worldwide, the board selects local partners involved in fundraising, with advance research into the reputation, objectives, policies and the effectiveness of expenditure of these local partners. During the collaboration the board will manage these local partners.

The board initiates and monitors the communication of all public expressions of and in relation to the foundation.

The board will actively participate in and oversee the aforementioned fundraising.

The board receives, manages and oversees how the funds are raised.

The board is responsible for the administration of the foundation.

The board decides on the expenses of the foundation.

The board decides on the amount of donations for the goals supported by the foundation.

The board decides on recruitment and management of funds.

MANAGING AND RAISING FUNDS

The funds are raised worldwide among visitors to performances by Hardwell, among the organisers of performances by Hardwell and among companies that are a sponsor or otherwise as a partner associated with such events.

This fundraising is done either directly by the foundation or by the Foundation’s selected local partners, on which the foundation performs a supervisory function.

Examples:

  • Addition(s) to the price of a ticket to performances by Hardwell
  • Percentage of the revenue(s) realized by the organizer(s) of performances by Hardwell
  • Addition(s) to the price of a sponsorship package
  • Voluntary contributions

The funds are either transferred to the bank account of the foundation directly, or initially collected and overseen by the local partner(s), which are temporarily responsible for managing these funds, for which the foundation shall invoice to the local partner(s) based on an authorized statement who shall transfer these funds to the foundation’s bank account.

The foundation's policy is designed to reduce all operational costs to a minimum, so that the funds raised are available for maximum support to the foundation’s (local) goals.

The board of the foundation has recruited the funds and determines periodically what amounts are to be paid to which supported projects and/or partners./p>

The first major project initiated by the foundation was an event in Mumbai, India, entitled 'The World's Biggest Guestlist Event by Hardwell. Hardwell performed at this event for approximately 80,000 visitors who managed to secure a place on his guest list by way of donation. Furthermore, local partners (companies) committed to the event by making a financial contribution in the form of a donation. The unspent balances of funds touted by this project were paid to the 'Magic Bus foundation' in India, who provides underprivileged children in India with education and training.

FINANCIAL ASSETS

All financial assets of the foundation are managed in a bank account held in the name of the foundation at ABN Amro Bank in The Netherlands.

The foundation holds no more funds than are reasonably necessary for the continuity of the planned activities with the objectives of the foundation.

SPENDING POLICY

The foundation spends the funds raised in accordance with the objective (periodically) in projects and targets disadvantaged children to provide them with education and training.

For the short and medium term, this concerns projects in India, Mexico and South Africa.

POSSESSING THE ASSETS OF THE FOUNDATION

The board of the foundation possesses the assets of the foundation. Under Article 7 of the Statutes of the foundation and its actual effectiveness, no individual (legal) person has a decisive say within the foundation. Thus, no individual (legal) person possesses the assets of the foundation as it were equity.

Payments may be made only after approval by the treasurer and the chairman of the board.

Gifts are determined solely by an absolute majority of the valid votes cast at the meeting of the Board.