Translated from Hebrew
Aleh Jerusalem Center (R.A.)
Financial Statements as of December 31, 2017
Note 1: General Information
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The Association was founded on November 28, 1995 and is registered with the Registrar of
Public Nonprofit Organizations under the Associations Law. Its number is 580265155.
The Association operates as a public institution in accordance with Section 9(2) of the Income
Tax Ordinance and is registered as a nonprofit organization for purposes of the Value-Added Tax
Law.
The Association is recognized as a public institution for the purpose of donations under Section
46 of the Income Tax Ordinance
The Association runs institutions for individuals with severe disabilities from infancy through
adulthood. The Association is affiliated with institutions in Bene Beraq, Gedera, and the
rehabilitation village in the Negev.
In August 2011, the Association changed its name to Aleh Jerusalem Center (R.A.) (the previous
name was Aleh Jerusalem Homes [R.A.]).
Beginning in January 2015, the Association began operating a network of residences (which had
previously been run by the Keren Or Association) under an agreement with the Ministry of Social
Affairs and the National Insurance Institute. Under this agreement, the Association rented
apartments and purchased equipment to run the network and for the benefit of the residents. In
February 2016, the Association ceased this activity, and responsibility for running the network of
residences was transferred to the Avukat Or (R.A.). In 2015 the Association included a provision
of NIS 320,000 in its books for the reimbursement of equipment that was purchased and
remained in the apartments of the housing network which were transferred to the management of
Avukat Or (R. A.). In 2017, only NIS 279,306 was received. The remainder of the provision was
transferred to expenditures.
Note 2: Principal Accounting Policies
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The financial statements were prepared in conformity with generally accepted accounting
principles for nonprofit corporations, in accordance with Opinion 69 of the Institute of Certified
Public Accountants in Israel and Standards 5 and 36 of the Israel Accounting Standards Board.
The Association prepares its financial statements on an accrual basis.
The financial statements were prepared in nominal values.
Definitions:
“Net assets”—the difference between the Association’s assets and its liabilities
“Restricted”—subject to a restriction imposed by the donors or by other outside agents
“Temporarily restricted”—subject to a restriction that expires or is lifted when a particular event
occurs, in accordance with stipulations by the donors or outside agents who provided the
resources.
Donations in cash equivalents: The Association does not include the value of volunteers’ labor in
its financial statements. Donations of assets and services in kind are recorded only when the
value of the donation can be estimated appropriately.
Donations include those for which donors received an item of nominal value in return for the
donation.
Cash and cash equivalents—balances in banks in NIS and in foreign currency as well as short-
term (up to three months) bank deposits.
Balances in foreign currency or linked to foreign currency are displayed according to the
representative exchange rate on the date of the balance sheet. Balances linked to the Consumer
Price Index are displayed in the financial statements based on the CPI. Herewith are the relevant
exchange rates and CPI:
Representative
Pct.
Pct.
Representative
Rate
change,
change,
Rate
Dec. 31, 2016
2017
2016
Dec. 31, 2017
US dollar
3.467
3.845
(% 9.83 )
(1.46%)
Pound sterling
4.6819
4.7252
(% 2.25 )
(18.3%)
CPI
101.28
100.88
% 0.397
(0.198%)
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SZYMONOWICZ SZ & CO. CERTIFIED PUBLIC ACCOUNTANTS (ISR)
חשבון רואי 'ושות שמאי שמעונוביץ