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The CSF’s economic situation was stable during the year under review. Operating income and expenses remained well budgeted, and liquidity remained good.

Result for the financial year

The outcome fro 2016 is a surplus of €203 178, 24 (in 2015 the surplus was €415 337,69). The total income of the association was €8 422 596 (2015 income €9 026 958), and total expenditure was €8 081 163 (2015 costs €8 652 055). The balance sheet has been strengthened by the surplus results of recent years and provides a more solid financial basis for the CSF’s operations. It also reduces financial risk.

Balance sheet 2016 (pdf)

Financial processes 

The continuous development and transparency of financial processes facilitated the management of the units and management of operations, the implementation of financial responsibility and financial monitoring. Also, the demands of the funders, such as the Finnish Slot Machine Association, the National Institute for Health and Welfare and the European Commission, have been met by clearly targeted spending and revenue for their funding. E-invoice processing was introduced in December. This facilitates and enhances invoice checking, acceptance, and payments.

Investment assets

Investment assets were managed in accordance with the CSF’s principles of the plan established in 2013. The investment portfolio was managed by Nordea Investment Management Ltd. The return on the portfolio in 2016 was 5.9%. The market capitalisation of investment assets was €7,438,091 on 31 December 2016, and the difference between the market value and the carrying amount was €568,498.


The CSF’s fund raising proceeds come from bequests received, which in 2016 amounted to €1 228 275 (in 2015 the amount of testamentary donations was EUR 471 394). At the express wish of bequeathers, in 2016, €60 000 was transferred to the balance sheet for subsequent use, and at the express wish of a bequeather €400,000 was donated to the Potilaan Polku patient fund to be used for cancer research.

Research grants

The Finnish Cancer Society awarded seven grants in relation to the Cancer Foundation’s grant application process. The applications were received by Cancer Foundation and were evaluated by the Cancer Foundation grant evaluation committees and the grants committee. The total amount of grants was EUR 377,500.

Grants decisions 2016