Achmea Foundation's organization
Achmea Foundation’s communication
The Foundation’s communication objectives have not changed from previous years: to increase awareness of the Achmea Foundation among Achmea employees and to increase the willingness to contribute to the activities of the Achmea Foundation. In addition, more external communication took place in 2021, particularly by means of LinkedIn, with the aim of increasing the foundation's profile among the general public and potential partners.
Communication towards Achmea employees
Following the migration of Achmeanet (Achmea's intranet) to SharePoint Online in 2020, in 2021, it was the Achmea Foundation’s turn to transfer their content to the updated Achmeanet. In the first quarter of 2021, we therefore worked hard to make relevant content from the foundation available via SharePoint Online. In addition to information and news about the Achmea Foundation on Achmeanet, a community was started in the first quarter of 2021 on the Yammer platform for Achmea employees. Various (internal) communication tools were used to increase awareness of the Achmea Foundation and its activities.
Financial position
In 2021, the Foundation had a positive result of €1,528,000 (2020: €1,755,000) as a result of the contribution from Achmea B.V. and on balance lower expenditure on initiatives. In total, 5 initiatives totalling €724,000 were committed in 2021 (2020: 5 initiatives totalling €1,773,000) and 2 new loans totalling €750,000 were issued in 2021 (2020: €880,000).
The Achmea Foundation has had to adjust its activities due to COVID-19. The outbreak of the pandemic at the beginning of the year 2020 has had an impact on the many initiatives supported by the Achmea Foundation. The financial impact of COVID-19 on the Achmea Foundation is also limited in 2021, both in terms of investment income and contributions of Achmea B.V.
Asset management
The Foundation’s asset management strategy is a socially responsible investment strategy with a defensive risk profile. The Foundation invests the available assets in impactful ways. It excludes companies whose activities are incompatible with the social role of Achmea and the Achmea Foundation (for instance companies in the tobacco and coal industries). In 2015 the decision was taken to go a step further. Since then the investment portfolio has consisted solely of companies that share our objectives. We also decide on a selection of indicators to measure the positive impact of an investment on people and society, taking into account the background and investment objectives of the Achmea Foundation. These indicators are used to select companies to invest in which, compared with their direct competitors, deliver a positive contribution. This policy also applied to the Foundation in 2021.
In the strategic asset allocation, between 48% and 64% is invested in state and government-related investments and a maximum of 32% can be invested in developed country equities and real estate. Finally, there is a 20% position in micro-credit loans.
No investments are made in warrants, options and futures, while derivatives positions are authorised only to hedge the exchange risk arising from investments in fixed-income securities and marketable securities. Van Lanschot considers this allocation to be a defensive profile.
In this way the investment portfolio contributes to the Foundation’s work not only
in financial terms, but also in terms of substance.
Risks and uncertainties
The risk profile expresses the key strategic, operational, financial, legislative and reporting risks to which the Achmea Foundation is exposed.
The strategic risk is related to the objectives of the Foundation. It is the risk of not being able to make a sustainable contribution to improving the quality of the lives of people from disadvantaged social-economic backgrounds. Achieving this objective in the long term is dependent on Achmea’s contribution and therefore its result, and on the implementation of projects to which the Foundation makes a contribution. Given the nature of the Achmea Foundation’s activities, the Foundation regards this risk as limited, since the solvency position at year-end 2021 is deemed sufficient for the years ahead.
Budget
The Board of the Foundation has the ambition to have €2,712,000 to be spent on objectives in 2022. The spending is in accordance with the policy to spend Achmea’s contribution in the following year (the contribution based on the 2020 result will be received in 2021 and spent in 2022 by pledging and issuing loans). Achmea’s contribution based on the 2020 result is €3.2 million.
The Achmea Foundation Board and administrative office
The Achmea Foundation is an independent Dutch foundation (stichting) funded by Achmea. The Board, comprised of seven members, one of whom is an advisory member, is supported by an operational administrative office whose director reports to the Board. The staff of the administrative office are employed by Achmea.
The Board feels an affinity with the core values, principles, standards and recommendations recorded in the Governance Code that has been developed for asset management funds by the SBF (collaborative federation of philanthropic organisations).