BACHIR GEMAYEL FOUNDATION - Achrafieh

BACHIR GEMAYEL FOUNDATION
- Achrafieh Solidarity Fund
Report and statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Report and statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012
Page
Audit report
1-2
Statement of receipts and disbursements
Notes to the statement of receipts and disbursements
Contributions received
Appendix A
Contributions in kind
Appendix B
APscrtion of financial support payments
Appendix C
Independent Auditor's Report
to the Chairman of Bachir Gemayel Foundation
We have audited the accompanying statement of receipts and disbursements of the
Achrafieh Solidarity Fund and other explanatory information which has been prepared by
Bachir Gemayel Foundation ("the Foundation"), in accordance with the cash basis of
accounting.
The Foundation's responsibility for the statement of receipts and disbursements
The Foundation is responsible for the preparation of this statement of receipts and
disbursements in accordance with the cash basis of accounting and for such internal control
as the Foundation determines is necessary to enable the preparation of a statement that is
free from material misstatement, whether due to fraud or error.
Auditor's responsibility
Our responsibility is to express an opinion on the statement of receipts and disbursements
based on our audit. We conducted our audit in accordance with International Standards on
Auditing. Those standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether the statement of receipts
and disbursements is fiee from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the statement of receipts and disbursements. The procedures selected
depend on the auditor's judgment, including the assessment of the risks of material
misstatement of the statement of receipts and disbursements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to
the entity's preparation of the statement of receipts and disbursements in order to design
audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity's internal control. An audit also
includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates, as well as evaluating the overall presentation of
the statement of receipts and disbursements.
We believe that the evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
i
Pri~terhouseCoopersPO Box 11-3155,SNA Building, Tabaris, Beirut, Lebanon
Telephone +961 (I)200577, Facsimile +961 (I) 200575,
Independent Auditor's Report 2% . . -. - . to the Chairman of Bachir Gemayel Foundation (continued)
Opinion
In our opinion, the accompanying statement of receipts and disbursements of the Achrafieh
Solidarity Fund is prepared, in all material respects, in accordance with the accounting
policy set out in note 2.
Beirut, Lebanon
26 March 20 12
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012
Notes
Receipts
Contributions received
Disbursements
Financial support payments made
Miscellaneous expenditures
Net balance
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Notes to the statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012
General information
The Achrafieh Solidarity Fund was established by Bachir Gemayel Foundation following
the collapse of a residential building in Achrafieh's Fassouh neighbourhood on
15 January 2012. The funds were raised through a public campaign that took place in
January and February 2012 in collaboration with MTV television station. The principal
objective of the Fund is to provide financial support to the victims of this disaster to help
them make a new start in life.
Principal accounting policies and basis of preparation
The statement of receipts and disbursements has been prepared in accordance with the cash
basis of accounting from the underlying supporting documentation maintained by the
Foundation. Under this policy, receipts are recognised when the funds are received in cash
rather than when earned and disbursements when paid rather than when incurred. The
statement has been drawn up provisionally to show receipts and disbursements for the
period from 15 January 2012 to 22 March 2012. A final statement is expected to be
submitted when all expenditures have actually been accounted for.
Contributions received
Contributions received of US$ 420,995 are cash contributions fiom donors paid by direct
bank transfers or in cash or cheques deposited at the Foundation. These contributions
represent amounts received by the Foundation for the account of the Fund during the
period fiom 15 January 2012 to 22 March 2012.
Contributions received of US$ 21,889 from Zain Group (MTC Touch) and US$ 22,548
from Orascom Group (Alfa) represent SMS contributions received through the public
campaign that took place in January and February 2012 in collaboration with MTV
television station.
(i) Contributions received from individuals
(ii) Contributions received from corporations
(iii) Other contributions received
Total cash contributions received
(i)
(ii)
Contributions received through Orascom (Alfa)
Contributions received through Zain Group (MTC Touch)
Total contributions received through SMS
Total contributions received
Refer to appendix A for a listing of the donors for the cash contributions received.
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Notes to the statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012 (continued)
Contributions in kind
Contributions in kind represent contributions made in goods or services.
(i)
Contributions in goods represent furniture, home appliances, household equipment,
and clothes donated by six main donors. These contributions were allocated and
delivered to nine families except for the contribution made by Housetex which has
not yet been fully distributed.
(ii)
Contributions in services represent audit services, provided to the Fund free of
charge.
Financial support payments made
In order to support the families and help them make a new start in life, the Foundation took
into consideration the following criteria for the allocation of funds:
(i)
an amount of US$3,500 to acquire kitchen equipment;
(ii)
an amount of US$ 3,250 for schooling expenditures for each student victim;
(iii) an amount of US$3,000 for replacement of personal belongings;
(iv) an amount of US$2,000 to acquire bedroom according to the need of each family;
(v)
an amount of US$2,000 for the official documents lost for each victim;
(vi) an amount of US$ 750 per month for 24 months period as housing allowance to
assist the families in finding new accommodation to live in;
(vii) an amount of US$ 500 per month for 18 months for each deceased working family
member in lieu of loss of income. The Naim family received compensation for loss
of income for three of its deceased working family members;
(viii) a special allocation was made for the victims who s a e r from chronic or long term
medical treatment.
Other than the affected families, other individuals impacted by the collapse received the
following support payments:
(ix) an amount of US$2,000 for replacement of vehicles lost;
(x)
an amount of US$ 1,000 for replacement of personal belongings;
(xi) an amount of US$ 500 for each of the four shops adjacent to the collapsed building
in lieu of loss of income of ten working days.
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Notes to the statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012 (continued)
5
Financial support payments made (continued)
On 25 February 2012 and 22 March 2012, the Foundation paid the af3ected families and
other individuals by cheque made by the Foundation to their order in the amounts set out
below:
US$
Jeanne D'Arc Naim
Elie Abdel Karim
Aida Geara
Mariarn Bou Serhal
Ricardo Saad
Albert Yazbeck
Charles Bakleh
Rachid Yamak
Madeleine Kessler
Nasra Nassif
Toufic Kiame
Karim Chawa
Antoine Saiid
Janane Abdel Karim
Yassin Yousef
Amira Gebrayel
Albert Saray
Souad Khoury
Ali Suleirnan
Raymond Saab
Financial support payments made
Refer to appendix C for a detailed allocation of the financial support payments made.
6
Miscellaneous expenditures
Miscellaneous expenditures of US$ 5,981 mainly comprise payments of US$ 4,500 for
geotechnical investigation and laboratory costs and US$ 1,457 made under court decision
as an advance to the expert who was commissioned to carry out the investigation into the
cause of the collapse.
7
Bachir Gemayel Foundation – Achrafieh Solidarity Fund
Notes to the statement of receipts and disbursements
for the period from 15 January 2012 to 22 March 2012 (continued)
7
Other matters
It is proposed that the remaining funds of US$ 21,451 will be applied as follows:
(i)
to protect the lives of the inhabitants of the adjacent building which have suffered
direct damages as a result of the collapse of the Fassouh building, it was felt that
immediate action needed to be taken. An engineering firm was commissioned to
inspect the building and to determine the repair works that needed to be undertaken
as a matter of urgency. The minimum costs required to ensure the safety of the
inhabitants was estimated at US$ 20,000;
(ii)
US$ 1,451 approximately will be paid to the expert upon the issuance of his final
report.
Appendix A
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Contributions received
for the period from 15 January 2012 to 22 March 2012
The names listed are shown as they appear on bank receipts. Some individuals or
corporations have indicated their wish to remain anonymous and have not been included
below.
(i)
Contributions received from individuals:
Abdallah Assaf
Ackoury Paul Bernard
Aftimos Marie Josette
Albert Matta
Andre Track
Antoine Adib Tayar
Antoine Bou Rjeily
Antoine Joseph Mansour
Antoine Kfoury
Antoine Massabni
Asma Andraous
Atef Olabi
Atef Zalaket
Bachir Chamsy
Badri Ali Ghaith
Bassam Abi Antoune
Bassam et Rita Matar
Boulos El Hajj
Boulos Naim
Boutros Houkayem
Brihi Emile
Camille Rizk
Carole Akkawi et Famille
Charles Dahdah
Charles Najjar
Chebl Atallah
Chloe Christian Ibrahim
Chah
Claire Abou Ada1
Claire Wazen Turkman
Darine Elia
Denise Gerges Nicolas
Edmond Abou Nader
Edmond Badih Berkachi
Edwar et Myrna Khawam
Elia Chatila
Elias Abdo Bou Khalil
Elias Ghosn
Georges Soueid
Ghassan et Ibrahim Saleh
Gina Abi Kararn
Gisele Marie Nasser
Habib Oueijan
Hag'e Charles Georges
Hanane Philippe El Asmar
Hani Yousef Aghar
Hisin Bchara Ifram
Ibrahim Elias Azzi
Ibrahim Hanna SP Hani Nak
Jad Georges Ghanem
Jamil Mouzannar
Jean Ogassapian
Jessica Anid
Jihad Bitar
Jihad et Nadia Abillamaa
Jose-Johan Chidiac
Joseph Abela
Joseph Habre
Joseph Hello
Joseph Khoury
Joseph Maalouf
Karine Sukkar
Khaled Hanjoura
Khaled Mehdi
Naji Elias
Naji tannous
Najla Moussa Helou
Nelly Razzouk
Nicolas Chatila
Nicolas Kabbani
Nicole Abi Chahla Zeinoun
Nizar Ahmad Choucair
Nouhad Nahas
Omaret Randa Osta
Pierre Najem
Rachid Abi Saad
Rachid Frenn
Raffoul Boutros
Ralph Samara
Rana Kateb
Raya Nasrallah
Raymond anid
Raymond Anid
Rita Femaine
Rita Najib
Robert Guoguhan
Rosa Maria Maalouf
Rose Georges Eid Sagheir
Rose Marie El Khoury
Roy Raad
Khoury Kassab
Samir Hachim & Family
Kitta Harb & Family
Leila El Amrieh
Lina EL Khoury
Makari Rodine
Mannhart Fren
Mariam Kassis
Marie Michelle Jalekh
Marie Paul Chidiac
Marie therese Acra
Maroun Aoun
Samir Saliba
Samira Abou Raily
Sarkis Hanna El Hosni
Sarkis Sarkis
Sawsan Habre
Sebouh Mekhdjian
Serge Zouain
Sonia Abboud
Souad Teeny
Souhaila Abdallah Bitar
Appendix A
Bachir Gemayel Foundation – Achrafieh Solidarity Fund
Contributions received
for the period from 15 January 2012 to 22 March 2012 (continued)
(i)
Contributions received from individuals (continued):
Elias Matar
Elie Chaoul
Elie Nassar
Elie Samir Younes
Elie Samir Younes
Emile Salim Matar
Estelle et Ariane
Gemayel
Farouk Abillamaa
Fidawy Rabih
Micheline Antoine
Fouad Abboud
Fouad et Sandra Abou
Nader
Fouad Khazen
Friends from Dubai
Gabriel Chami
Gaby Hanna Assaker
Georges Abi Salloum
Georges Chehwane
Georges Freifer
Georges Khadij
Georges Raymond
Wazen
Georges Salloum
(i)
Souheil et Dima Sebaii
Talal Bejjani
Talal Chehab
Tanios Assaker
Therese Fayez Bitar
Tony et Yousef Bcherrawi
Michele Abou Rou
Vera et Liliane Khoury
Micheline Abi Samra
Micheline Jean Baz
Violette Boulos
Viviane et Rosie Abou
Rousse
Wadih Elie Debbas
Minas Missirian
Wadih Michael El Absi
Mohamad Choucair
Myriam Lahoud
Myrna Emile Boustany
Nabih Abou rjaily
Nabih et Nina Ghassali
Nabil de Freige
Nabil Nicolas Hajj
Nadim Karim et Rami Baz
Nadim Khoury & Fawzi
Khoury
Najat Farhat
Walid and Nana Genadry
Yolla Kharrat
Yousef Chouli
Yousef et Rachid Rizk
Youssef Tohme
Yvette Tabet
Ziad Jabre
Ziad Maatouk
Ziad Toufic Masri
Contributions received from corporations:
Al Dente
Albergo Hotel
Audi Bank
Beit Misk
(ii)
May Rammouz
Maroun Hachem
Maroun Menassian
Metri Rachid Hamawi
Michel Chamlati
Michel Nassif
Finance Bank
International IGM SARL
La Mie Doree
Librex Group
Megatrack Trading
SGBL
Other contributions received:
Al Yarz Pleasure Club
Bijouterie Riad Michel
Haddad
Chambre de Commerce
SSCC congrégation des
Soeurs des Saints Coeurs
de Jésus et de Marie
Etude Badri Meouchi
IC Parents Committee Ain
Aar
Les dames de la Charite
Notre Dame University
Ordre des Dentistes du
Liban
Pere Sauveur Ecole Sagesse
Appendix B
Bachir Gemayel Foundation - Achrafieh Solidarity Fund
Contributions in kind
for the period from 15 January 2012 to 22 March 2012
(i)
Contributions in goods:
ETS Elie AEtim
ETS Home City
(ii)
ETS Khoury Home
ETS Maher Yaacoub
Contributions in services:
PricewaterhouseCoopers
FAP - Mr. Jospeh Risk
Housetex