Financial Performance 2025
The US stock market performed exceptionally well in 2025, marking a third consecutive year of double-digit gains. The year was characterized by a “rebound” performance, a steep drop in early spring due to trade tariff tensions, followed by a strong recovery fueled by AI earnings, Fed rate cuts and corporate profit growth.
The S&P500 generated a return of 16,4% and the Nasdaq 20,4%.
The Foundation showed a positive return of 18,5% for the year on its assets managed by JP. Morgan, in line with the markets and benchmarks.
This resulted in net revenue securities of $8,861and financial income (value adjustments from securities) of $1,473,025.
The operating expenses (excluding grants payable and interest and related expenses) were $83,286. The major part related, as in previous years, to consulting fees, salaries and the reporting tool Diligent Board.
The interest and related expenses of $108,543 include the fees for JPM for managing our portfolio and the interests payable on the loan we have taken to invest in Private Equity funds.
Four new commitments for grants were made for a total of $1,113,064: $450,480 for the Metamorphose exhibition of the Rijksmuseum, $500,000 for a research project of the Mount Sinai in NY, $150,000 for the Kafue national Park in Zambia and $12,584 for the Maltacamp. Payments in 2025 for earlier commitments for different projects amounted to $803,964. The Foundation continues to exceed both Dutch and United States regulatory requirements regarding charitable distributions.
The excess revenues over expenditure showed a positive result of $108,466.
The equity at end December 2025 increased to $6,461,430 and the assets were at $9,281,515. The current liabilities ($652,939) relate to provisions for grants and accruals for incurred but unpaid expenses. The non-current liabilities ($2,167,146) include the Loan of JPM of $1,810,921.
Breakdown of grants payable 2025
$
African Parks 150.000
Rijksmuseum 450,480
Mount Sinai 500,000
Int. kamp gehandicapte jongeren 12,584
Exch. Difference 65,527
1,178,591
Over the past 15 years, the Bennink Foundation has provided philanthropic support totaling $ 10,257,637.
2011: $151,133 2015: $381,640 2019: $410,916 2023: $1,258,939
2012: $95,543 2016: $332,831 2020: $423,085 2024: $3,019.
2013: $718,291 2017: $699,622 2021: $886,028. 2025: $1,178,591
2014: $643,373 2018: $2,288,62. 2022: $786,000
Safeguarding the planet $ 4,013,295 | Children in Need $ 1,385,422
The Arts $ 1,832,914| Medical /Scientific Research $ 3,125,427 | Other $ 98,432
Balance sheet as at December 31, 2025
After treatment of loss
2025 2024
Assets $ $
Non-current assets
Financial assets 9,241,893 7,291,504
Current assets
Cash at bank and in hand 39,622 4,721
Total assets 9,281,515 7,296,225
Equity and liabilities
Foundation capital
General reserves 6,461,430 6,352,964
Non-current liabilities 2,167,146 685,802
Current liabilities 652,939 257,459
Total equity and liabilities 9,281,515 7,296,225
Statement of Revenue and expenditure for 2025
2025 2024
$ $ $ $
Net revenue securities 5,861 8,161
Other Income 44,822
Total net revenue 5,861 52,983
Wages and salaries 19,154 17,653
Social security charges 3,225 2,926
Grants Payable 1,178,591 3,019
General expenses 60,907 52,624
Total of sum of expenses 1,261,877 76,222
Total of operating result (1,256,016)) ( 23,239)
Interest expenses and related expenses (108,543) 54,130
Value adjustment from securities 1,473,025 988,626
Financial income tax expenses 1,364,482 934,496
Excess / (shortage) of revenues 108.466 911,257
over expenditure
Transparancy and control
The Board approved the 2025 results in their Board meeting of 7 May 2026.
EY Accountants LLP issued on 10 April 2026 their final compilation report on the financial statements 2025 of The Bennink Foundation.
The full Board discusses bills in detail and gives approval. Important decisions, like investing part of the base capital of the Foundation, are taken with approval of at least 75% of the votes.
The Board meets at least twice a year. Additional meetings will be added, as necessary, to follow up on the progress of agreed projects and discuss new proposals..
Accounting policies
The financial statements 2025 have been prepared in accordance with RJK C1. The figures as stated above are adopted from the financial statements 2025. As from 2014 onwards the functional and presentation currency of the Foundation is US Dollar. Commitments for grants are fully expensed in the accounting year in which the decision to commit has taken
by the Board.