The Index Project (Fond)

The income statement for 2022 shows a loss of DKK 2,142,334 against a profit of DKK 636,026 last year, and the balance sheet at 31 December 2022 shows equity of DKK 92,768.
Priorities in organisation, activities and economic conditions in 2022
Organisation
The Index Project has throughout the year been working on securing the key partnership(s) needed to sustain the operations. However, very few deals have materialized and thus a significant adjustment to the strategic priorities and operating model for the full organization was done in August and again in October to increase focus on the fundraising effort and reduce cost. In December, a large potential partnership fell through and consequently it was clear that the organization was not on track in the process of evolving to the right operating model nor secure the funds needed or set the right foundation for moving forward.

As a consequence, the Board needed to take more drastic measures and removed all operational costs by the end of December, including termination of all employee contracts. And secure all contractual deliverables were executed, and all obligations were being met.

The Board has taken charge of the restructuring to find a sustainable operating model that will ensure the organization’s future, including develop new programs, activities, operating and business model, as well as actively fundraise and secure donations to ensure solvency.

The Index Project is currently rethinking the plan and timeline of the flagship award 2023, likely to have a fully virtual award with the possibility to expand to physical events if sponsorships are closed within the coming months.