Power of freedom

POLICY PLAN FOUNDATION OF FREEDOM

General
The foundation was established on the 1stof May 2018 by the name “Power of Freedom” with the sole objective of organizing the Invictus Games in the year 2020 in The Hague, the Netherlands. For this purpose, the Foundation has acquired a license from the “Invictus Games Foundation”. The postal and business address of the Foundation is: Hagheweide 13, 2361 MB in Warmond. The foundation can also be reached by sending an email to pim@invictusgames2020.nl or by calling +31 85 0609456 or +31 653263536.

The Foundation is registered with the Dutch tax authorities under RSIN / VAT no. 858759494 and with the Chamber of Commerce under number 71550925. The Foundation is liable for VAT. The bank account of the foundation is NL 98 ABNA 0819684104.

Board:
The board constitutes of:
Mart de Kruif, Chairman
Pim Versteeg, Vice-Chairman
Martine Stoffer, Secretary and Treasurer
Angelien Eijsink, Member
Gregory Sedoc, Member
Marco Vet, Member
Edwin de Wolf, Member
The entire board is honorary, neither is vacation fund provided. Only demonstrable expenses for participating in meetings are reimbursed. No board member is authorized to act on his or her own. In the area of financial affairs, the Foundation applies the 4-eyes principle. Financial resources can only be used after the approval of at least two board members. Additional powers, such as entering into contractual obligations, are laid down in the rules and regulations of the Foundation and are in all cases submitted for approval to the entire foundation’s board. Employees of the foundation, who aren’t board members, are paid by market rates.

Policy and strategy
The Invictus Games are aimed at a specific target group, actually the wounded and former soldiers. This is an initiative from a member of the English royal family and has been organized since 2014 and will take place in the Netherlands in 2020. After the first editions have mainly taken place in Anglo-Saxon countries, 2020 will be the first edition outside this area. The event is attended by 500 athletes from 19 countries. They will compete in 10 different sports. The aim for the Games in 2020 is to organize it in the most  sustainable and compact way possible.
The word “invictus” refers to “unconquered” and reflects the core values of the Invictus Games, that regardless of limitations and terrible war experiences, always more can be achieved. Typically for the Games in the Netherlands is to synchronize the attention around this event with all events around the “75 years of freedom” initiative, a separate initiative that will organize all events in the 75th year after the Second World War finished. The estimated lifetime of the Foundation is until mid-2020. After the Games, the organization will be properly dismantled and any benefits will be transferred to other ANBI institutions with the focus on: Veterans, Education and Handicapped Sports.

Finances
The required budget for organizing and fulfilling the Invictus Games 2020 has been budgeted at € 15 million euros. This budget has been composed on the basis of an initial cost estimate as well as experiences gained during the previous editions of the Games. About 2 / 3rd of the above amount of money has now been secured through a guarantee from the government and external sponsors. This money is not in hands of the Foundation yet. The Foundation is currently paying the (limited) start-up costs from grants received from the Ministry of Defense and the vfonds. The remaining amount of money will be brought in through various fundraising activities during 2019. For this purpose, interactions have been started now with a large number of parties. There will be worked actively towards donations and gifts too. External parties were hired for payroll administration, VAT payments, accounting and auditing. A final and approved budget will be available on request from the 1stof January 2019. No later than the 1stof July 2019 an auditor’s report will be published with an overview of income and expenses, as well as a balance sheet, for the year 2018.

Activities in 2018
2018 was about setting up and starting the organization as the fundraising. The foundation has been established and has seven board members. An “Organizing Committee” has been set up and started with making an inventory and describing the necessary activities to make the Games as gradual as possible. Fundraising has been started in order to create a sound financial basis. Also a start with the formation of a Recommendation Committee and an Advisory Board.