The following interpretation is in accordance with the Swiss GAAP FER 21 accounting standard. The annual financial statements are audited annually by the auditing company appointed by the Board of Trustees.
In 2023, we recorded growth in new funds received summing up to CHF 32.5 million. The area of contract management, which describes grants that are accepted together with the University of Zurich, continued to grow. In the fundraising area, we were able to acquire funds for new broader topics. With the integration of the over 100-year- old “Stiftung für wissenschaftliche Forschung”
(Foundation for Scientic Research) at the University of Zurich, which is reported under “Grants received – Sub-foundations”, we will be supporting an even broader spectrum at UZH in the future. The management of what are now 11 sub-foundations also resulted in an increase in service income compared to the previous year. On the expenditure side, the funds disbursed for projects developed in line with inflows, due to the progress of projects and funding. The strategic expansion of the fundraising area is now fully reflected in personnel expenses. The positive performance of the capital markets, particularly in the final quarter of 2023, led to an encouraging investment return.
In current assets, the positive interest rate trend was used to invest cash and cash equivalents until the new investment strategy was fully implemented in December 2023. Initial investments in components of this investment strategy led to an increase in financial assets. On the liabilities side, there was an increase in current liabilities due to invoices from UZH. Fund capital increased due to the net increase in new funding projects. Free capital developed in line with the annual result of the UZH Foundation.