Funding and Finances

Positive Money Europe is a not-for-profit association (ASBL) that receives the majority of its funding from a number of philanthropic foundations, and a few individual donors (see details below).

In the financial year ending 31 December 2021, our total income was € 524 188, which came almost entirely from grants. In terms of expenditure, our main costs are salaries for our team of staff and contractors, while our overheads are kept low. 77% of our total expenditure went to staff costs and for research, advocacy and campaigning. Our expenditure on contractors mainly covered researchers working on Positive Money Europea research projects, and project coordination for the European Citizens Bank project. 7% of costs went to communications, and 4% went to events, primarily to facilitators for our series of online citizen assemblies as part of the European Citizens Bank project. Other costs include office administration costs of 6% (including rent for a small 29.5 m2 office), and other sundry costs amounting to 12% including travel, subsistence, staff development, and legal, accounting and payroll fees. Please scroll to the bottom of the page for a breakdown of our income and expenditure for 2021.

We are extremely grateful for the generous support of all of our funders, who are listed below. Without their support, our work would simply not be possible!

LIST OF FUNDERS FOR JANUARY 2021 – DECEMBER 2021:

Organisations from whom we received funding within the last financial year, and the amounts they provided, are listed below with the name of the project or area of work funded. Click on the funder’s name below to be directed to their websites. 

Open Philanthropy (€60,000): “To support research and advocacy on macroeconomic policy in Europe.”

Open Society Initiative for Europe (€ 49,970):  To support the advocacy activities of Positive Money Europe promoting a democratic reform of the European Central Bank

European Climate Foundation (€164,187): To ensure that the European Central Bank’s strategic review leads the ECB to align its strategy and monetary policies with the EU’s sustainable finance agenda

The Sunrise Project (€ 33,491): To engage European citizens and civil society in key countries for European Central Bank to take decisive climate action 

European Commission – Europe for Citizens (EACEA) (€77,791): To engage European citizens in the debate on the future of the Eurozone (The European Citizens’ Bank project)

Pool Fund on International Energy (PIE/ECF)(€ 24,614): To support the European Central Bank in adopting measures leading to a reduction in its holdings of carbon-intensive assets

Foundation to Promote Open Society (€69,575): To challenge the ECB response to COVID-19 2020

Positive Money UK (€43 894):  For core organisation and project support

LIST OF FUNDERS FOR JANUARY 2020 - DECEMBER 2020:

Organisations from whom we received funding in 2020, and the amounts they provided, are listed below with the name of the project or area of work funded. Click on the funder’s name below to be directed to their websites. 

Open Society Initiative for Europe (€ 35 793):  To support the advocacy activities of Positive Money Europe promoting a democratic reform of the European Central Bank

European Climate Foundation (€ 41 492) : To ensure that the European Central Bank’s strategic review leads the ECB to align its strategy and monetary policies with the EU’s sustainable finance agenda

The Sunrise Project (€ 32 988): To engage European citizens and civil society in key countries for European Central Bank to take decisive climate action 

European Commission – Europe for Citizens (EACEA) (€33 339) : To engage European citizens in the debate on the future of the Eurozone (The European Citizens’ Bank project)

Pool Fund on International Energy (PIE/ECF)(€ 59 323) : To support the European Central Bank in adopting measures leading to a reduction in its holdings of carbon-intensive assets

Foundation to Promote Open Society (€60 878) : To challenge the ECB response to COVID-19 2020

Positive Money UK (€37 256):  For core organisation and project support

LIST OF FUNDERS FOR 2018 - 2019:

In the financial year ending 31 Dec 2019, Positive Money Europe received the following sums:

Open Society Initiative for Europe (€62,108)

Positive Money Europe has received two grants from Open Society Initiative for Europe. The first one covered the project “Civil Society Voices in Eurozone reform and the European Central Bank” running from October 2018 until May 2019. This sum was granted to Positive Money UK and earmarked for Positive Money Europe’s activities. In 2019, we received 16,451 of funds from this grant.

In October 2019, we received a new grant from OSIFE directly, to support the core activities of Positive Money Europe, running from 2019 until 2022. In 2019, we received 45,657 of this grant.

European Climate Foundation (€43,114)

In 2019, Positive Money Europe received €43,114 of funding for the project “Green Monetary Policy in Europe” under a grant from European Climate Foundation to Positive Money UK, the majority of which was earmarked for Positive Money Europe’s activities.

Partners for a New Economy (€22,396)

In 2019, Positive Money Europe received €22,396 of funding under a multi-year grant from Partners for a New Economy to Positive Money UK, running from 2019 – 2021, which had some funds earmarked for Positive Money Europe’s activities.

Individual donors (€10,356)

In 2019, Positive Money also received €10,356 in donations from several private individuals.

PREVIOUS YEARS - 2020, 2019, 2018

2020

Positive Money Europe’s expenditure in 2020 was €266 707, mainly covering the salaries, cost of an office in Brussels, and other costs related to our activities.

See our funding and spending allocation below:

2019

Positive Money Europe’s expenditure in 2019 was €101,972, mainly covering two staff positions, the cost of an office in Brussels, two research projects, and other costs related to our activities.

See our funding and spending allocation below:

Read our 2019 Annual Report

 

2018

Positive Money Europe’s budget for 2018 was €72,320, mainly covering two staff positions, the cost of an office in Brussels, one conference, and other costs related to our activities. See our spending allocation below:

NOTE: Until January 2019, Positive Money Europe’s activities were incubated by Positive Money Ltd, with all finances and operations hosted at the UK company. 

Grants income has therefore been provided as part of larger grants to Positive Money for both organisation’s work, including two grants (from Partners for New Economy and Open Society Foundations, and private donations (€10,000). Some of those grants include some restricted costs to be incurred in 2019.

In January 2019 Positive Money Europe became established as a new non-profit company under Belgian law (ASBL), and has its own set of separate accounts now. 

For more on Positive Money UK’s finances, please click here.

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