2018 annual general meeting 2018_booklet_final_s.pdfİstanbul uluslararası kadınlar dernerği...

2018 ANNUAL GENERAL MEETING INTERNATIONAL WOMEN OF ISTANBUL (IWI)

THURSDAY, 24 MAY 2018 İSTANBUL MARRIOTT HOTEL ŞIŞLI

İstanbul Uluslararası Kadınlar Dernerği

Dernek Kod: 3464/027

2018 Annual General Meeting (AGM)

IWI 2018 AGM – Thursday, 24 May 2018 2

MEETING AGENDA 1. Açılış / Yoklama 2. Divan Heyetinin Seçimi 3. Saygı Duruşu 4. Yönetim Kurulu Raporu 5. Denetim kurulu raporunun görüşülmesi 6. Yönetim Kurulu ve Denetim Kurulu / Raporlarının ayrı ayrı / İbrası 7. Tahmini Bütçe 2017 görüşülmesi ve onaylanması 8. Organların Asıl ve Yedek Üye Seçimi 9. Dilek ve Temenniler 10. Kapanış

1. Chairwoman’s Welcome (Anna İlhan) 2. Appointment of Council (Şükrü Çalkım, Mehmet Şenel and Ebru Demirel) 3. Moment of Respect for Atatürk 4. Yearly Report of the Board of Directors

a. Financial b. Membership c. Communications (Lale) d. Programmes e. Business Networking f. Special Events g. Social Responsibility

5. Board of Controllers Report 6. Discussion and Approval of 2018 IWI and Lale Budgets 7. Election of Principal and Alternate 8. Any Other Business 9. Close of Annual General Meeting





MEETING AGENDA .................................................................................. 2

1 Chairwoman’s Message .................................................................. 4

2 Board of Directors Yearly Reports .................................................. 52.1 Financial Reports ........................................................................................ 5

2.1.1 Genel Bilgi – İlgün ÖZEN (Serbest Muhasebeci Mali Müşavir) ................... 52.1.2 Treasury Report – Bhavna Thakur & Anna İlhan ..................................... 7

A. IWI Organisation/Dernek ............................................................. 7B. LALE ......................................................................................... 9

2.2 Membership Report – Elena Sklyarskaya (as of 20.4.2018) ............................. 122.2.1 Membership Structure ...................................................................... 122.2.2 Membership Breakdown .................................................................... 12

A. Newcomers/Renewals ............................................................... 12B. Members Statistics .................................................................... 12C. Members Nationalities ............................................................... 13

2.3 Communications (Lale) Report – Monisha Kar ............................................... 142.4 Programmes Report – Fiona Slay (2017/2018) .............................................. 152.5 Business Networking Report – Shadi Kafaielotfi ............................................. 162.6 Special Events Report ................................................................................ 17

2.6.1 2017 Winter Festival ........................................................................ 17A. Stall Breakdown ....................................................................... 17B. Income & Cost Breakdown ......................................................... 18

2.6.2 Women’s Day Walkathon ................................................................... 19A. Walkathon Funds Breakdown ...................................................... 19

2.7 Social Responsibility Reports – Wendy Chan ................................................. 202.7.1 Overview ........................................................................................ 202.7.2 2016-2017 Grantees ........................................................................ 21

3 Board of Controllers Report .......................................................... 254 Discussion and Approval of Budget .............................................. 314.1 IWI Budget Discussion .............................................................................. 314.2 IWI 2018 Budget ...................................................................................... 324.3 LALE Budget Discussions ........................................................................... 334.4 LALE 2018 Budget .................................................................................... 34

5 Election of Principals & Alternatives ............................................. 355.1 Proposed 2018-2019 Board of Directors (Yönetım Kurulu) .............................. 355.2 Proposed 2018-2019 Board of Controllers (Denetım Kurulu) ........................... 35

6 Appendix ...................................................................................... 366.1 IWI Detailed Summarized Balance Sheet ..................................................... 36

6.1.1 Assets ............................................................................................ 366.1.2 Liabilities ........................................................................................ 37

6.2 LALE Detailed Summarized Balance Sheet .................................................... 386.2.1 Assets ............................................................................................ 386.2.2 Liabilities ........................................................................................ 39

6.3 LALE P&L Statement ................................................................................. 40





1 Chairwoman’s Message The International Women of Istanbul has a rich and diverse history of over 40 years. During that time, the organisation has seen a lot of changes in her members and Istanbul. However, IWI has always provided a way for international women in Istanbul to share challenges and offer support long before online forums. IWI has continued to convey the message of the association, ‘support our members; support our community; support our business partners – From Women For Women’.

In 2017, we continued to witness an increased in activity and attendance within the Neighbourhood Meetups (NM); improvements in communications with the members through the newsletter, website, social media and the Lale Magazine; and an overall strengthening of support and enthusiasm for the organisation.

Additionally, through the hard work and dedication of the IWI Board of Directors, we have further strengthened the foundation on which this organisation stands by implementing many positive changes, such as more member engagement, more events for working women and more diversity in what IWI offers her members.

This year's annual report contains examples of how IWI endures as an organisation and adds value to the international women living in and around Istanbul. A few particular highlights are the increased variety and attendance of monthly Programmes; continued improvements of the Lale, an expat lifestyle magazine; and the creation of a donation policy for the Social Responsibility Fund to further showcase the transparency of the organisation.

On behalf of the entire board of directors, I wholeheartedly thank all of our members, our community, our sponsors and our supporters. Without you there is no IWI.

Warmest Regards,

Anna İlhan Chairwoman International Women of Istanbul





2 Board of Directors Yearly Reports

2.1 Financial Reports

2.1.1 Genel Bilgi – İ lgün ÖZEN (Serbest Muhasebeci Mali Müşavir)

Derneğin unvanı IWI, İstanbul Uluslararası Kadınlar Derneği’dir. Dernek 5253 sayılı Kanun ve ilgili mevzuat çerçevesinde kar amacı gütmeyen bir kuruluş olup Gelir ve Kurumlar vergisi mükellefiyeti bulunmamaktadır. Amacı; Türkiye’de yaşayan yabancı kökenli veya yabancı ile evli kadınlar ve onların arkadaşlarını bir araya getirmek ve aralarındaki ilişkiyi geliştirmektir.

2004 yılında kurulan İktisadi İşletme; Lale Dergisi ile ilgili faaliyetleri yürütülmektedir.

MUHASEBE KAYITLARI

Derneğin 2017 yılına ait yasal defterleri Serbest Muhasebeci Mali Müşavir İlgün ÖZEN tarafından tutulmuş olup ilgili defterlerin tasdik bilgileri aşağıdaki gibidir;

Defterin Cinsi Tasdik Makamı Tasdik Tarihi Sayısı Yevmiye Defteri Bakırköy 17.

Noterliği 19 Aralık 2016 20546

Defter-i Kebir Bakırköy 17. Noterliği

19 Aralık 2016 20547

Envanter Defteri Bakırköy 17. Noterliği

19 Aralık 2016 20548

Yasal defter kayıtları Vergi Usul Kanunu’nun kayıt nizamına ilişkin hükümleri ve Muhasebe Sistemi Uygulama Genel Tebliğleri ile genel kabul görmüş muhasebe ilkelerine uygun şekilde tutulmuştur.

Yasal defterlere yapılan kayıtlara dayanak teşkil eden belgeler şekil açısından gerçeği yansıtmaktadır.

Derneğin ödemeleri ve borç-alacak ilişkilerinin mal ve hizmet alımlarıyla uyumlu olduğu ve banka kayıtları ve müşteri-tedarikçi hesap mutabakatları ile doğruluğu sağlanmıştır.

Derneğin 01.01.2017 – 31.12.2017 döneminde teslim aldığı yardımlar ve yaptıkları ile ilgili banka kayıtları ile derneğin kayıtları tutarlı durumdadır.

VERGİ BEYANNAMELERİ

Derneğin sadece Muhtasar (Stopaj) Beyanname mükellefiyeti bulunmaktadır.

2017 yılı içerisinde verilmesi gereken beyannameler vergi mevzuatına uygun olarak ve kanuni süreleri içerisinde e-beyanname olarak verilmiştir.

MALİ TABLOLAR

Derneğin 2017 yılına ait Bilanço ve Gelir Tablosu eklidir.





BİLANÇO DETAYLARI

Kasa Mevcudu

Derneğin 2017 yılı sonu kasa mevcudu 0,- (Sıfır) TL’dır. Kasa’dan yapılan nakit ödemeler Vergi Usul Kanunu Genel Tebliğlerinde belirtilen tutarı aşmamaktadır. Günlük kasa hareketleri ticari icaba uygundur. Kasa mevcudu, yasal dayanak oluşturan belgeler ve banka kayıtları aracılığı ile doğrulanmıştır.

Banka Mevcudu

Derneğin 2017 yılı sonu banka mevcudu toplam 320.507,57 TL’dır ve detay hesap durumu aşağıdaki gibidir;

Garanti Bankası Etiler Şubesi TL hesapları: 208.793,72 TL Garanti Bankası Etiler Şubesi USD hesabı: 25.880,72 Amerikan Doları Garanti Bankası Etiler Şubesi EUR hesabı: 3.102,90 EUR Görsel Banka Kart hesabı: 83,22 TL

Banka hesap mevcutları, ilgili belgeler ve banka kayıtları üzerinden doğrulanmıştır.

İş Avansları

Derneğin 2017 yılı sonu itibari ile vermiş olduğu iş avansı bulunmamaktadır.

Diğer Alacaklar

30.01.2004 tarihinde kurulan İstanbul Uluslar arası Kadınlar Derneği İktisadi İşletmesi’ne 5.000,- TL sermaye ile iştirak etmiştir. Bu tutar Bağlı Ortaklıklardan Alacaklar hesabında gözükmektedir. Derneğin; İstanbul Uluslararası Kadınlar Derneği İktisadi İşletmesinden 51.978,47 TL alacağı bulunup, muhasebe kayıtlarında Diğer Çeşitli Alacaklar hesabında gösterilmiştir.

Borçlar

2017 yılı sonu itibari ile Marlet Turizm Reklam Org.Bilişim Hiz.Ltd firmasına 2.329,88 TL, İstanbul Depolama Taş.Dağ.Paz.Ltd.ye 57,23 TL., Şükrü Çalkın’a 2.832,-TL ve İstanbul Dağıtım Paz. Hiz. Ltd’ye 17,12 TL borcu bulunmaktadır.

Ödenecek Vergiler

2017 yılı sonu itibari ile 767,15 TL tutarında Stopaj vergisi borcu bulunmakta olup muhasebe kayıtlarında ilgili tutar ödenecek vergi ve fonlar hesabında gözükmektedir.

GELİR TABLOSU DETAYLARI

Dernek 31.878,15 TL üyelik geliri, 3.013,42 TL bağış ve yardım geliri, 119.982,80 TL kermes geliri, 5.304,00 TL. Organizasyon gelirleri (Ipwın Events) ve 1.863,00- TL diğer organizasyon geliri olmak üzere toplam 162.041,37 TL gelir elde etmiştir.

Elde edilen gelire karşılık 67.238,27.-TL tutarında çeşitli hayır kurumlarına yardım yapılmıştır.





2.1.2 Treasury Report – Bhavna Thakur & Anna İ lhan

A. IWI Organisation/Dernek

IWI Year-End Balance (31.12.2017)

TL Euro USD 208.793,72 3.102,90 25.880,72

IWI Profit & Loss (2016/2017)

1. INCOMES [TL]603.01 Membership Incomes 41.501,46 31.248,15

603.01.001 Basic Membership 4.202,06 13.848,15603.01.002 Classic Membership 31.284,00 13.560,00603.01.003 Business Membership 6.015,40 3.840,00

603.02 Social Responsibility Donation 4.863,50 3.013,42603.03 Spring Event 0,00 0,00603.04 Bazaar Incomes 164.779,94 119.982,80603.05 Sponsor 0,00 0,00603.06 Business Networking Events 2.575,00 5.304,00603.07 Other IWI Programmes/Events 12.542,00 1.863,00642.01 Interest Income 2.927,45 747,09646.01 Profit From Foreign Currency Exchange 17.647,76 9.025,64649.01 Other Income And Profit 0,00 0,00

246.837,11 171.184,10

2. EXPENSES [TL]

793 General Administration Expenses (-) (51.517,09) (30.976,60)

793.01 Office Rent & Additional Charges (17.148,50) (4.049,28)

793.02 Communication Expenses (109,50) (3.132,90)

793.03 Delivery Expenses (12.788,67) (4.300,84)

793.04 Marketing Expenses (3.620,00) (1.431,18)

793.05 Legal Consultancy & Services (15.950,40) (14.836,42)

793.06 General Administrative Expenses (1.170,00) (1.509,93)

793.07 Hospitality & Catering (719,97) (421,05)

793.08 Other Office Related Costs (10,05) (1.295,00)

794 Miscellaneous Expenses (-) (142.993,64) (113.263,67)

794.02 Winter Bazaar (65.481,80) (42.929,60)

794.03 Spring Event 0,00 0,00

794.04 Social Responsibility Fund (76.710,00) (67.148,27)

794.05 Business Networking Events (558,00) 0,00

794.06 Other IWI Programmes/Events (243,84) (3.185,80)

795 Taxes (126,00) (101,70)

796 Depreciations (210,40) 0,00

656.01 Loss From Currency Exchange (-) (589,19) 0,00

689.01 Other Ordinary Expenses & Losses (-) 0,00 (118,12)(195.436,32) (144.460,09)

51.400,79 26.724,01NOTE: All Values in Turkish Liras (TL)

Actuals2016 2017

NET PROFIT OR (LOSS)

IWI

INCOMES TOTAL

EXPENSES TOTAL





IWI Summarized Balance Sheet

The detailed summarized balance sheet for IWI can be found in the appendix section at the end of this report.

12.31.2015 12.31.2016 12.31.20171. CURRENT ASSETS 283.667,39 341.717,22 374.447,04

A. Liquid Assets (Net) 213.410,75 289.313,95 320.507,57B. Marketable Securities (Net) 1.600,00 0,00 0,00C. Trade Receivables (Net) 0,00 0,00 0,00D. Other Receivables (Net) 68.656,64 52.403,27 52.919,47E. Inventories (Net) 0,00 0,00 0,00F. Contract Progress Costs 0,00 0,00 0,00G. Prepaid Expenses & Income Accruals 0,00 0,00 1.020,00H. Other Current Assets (Net) 0,00 0,00 0,00

2. LONG TERM ASSETS 7.310,40 6.458,48 3.589,49A. Trade Receivables (Net) 0,00 0,00 0,00B. Other Receivables (Net) 5.000,00 5.000,00 3.589,49C. Financial Fixed Assets 0,00 0,00 0,00D. Tangible Fixed Assets (Net) 210,40 0,00 0,00E. Intangible Assets (Net) 0,00 0,00 0,00F. Assets Subject to Amortization (Net) 0,00 0,00 0,00G. Prepaid Expenses & Accrued Income 2.100,00 1.458,48 0,00H. Other Fixed Assets (Net) 0,00 0,00 0,00

TOTAL ASSETS 290.977,79 348.175,70 378.036,53

1. SHORT TERM LIABILITIES 2.843,53 8.640,65 11.659,35A. Financial Liabilities (Net) 0,00 0,00 0,00B. Trade Payables (Net) 1.302,28 8.295,76 5.236,23C. Other Liabilities (Net) 0,00 0,00 5.655,97D. Advances Received (Net) 0,00 0,00 0,00E. Contract Progress Income 0,00 0,00 0,00F. Taxes Payable & Other Fiscal Liabilities 1.541,25 344,89 767,15G. Provision for Liabilities & Expenses 0,00 0,00 0,00H. Income & Expense Accruals 0,00 0,00 0,00I. Other Short Term Liabilities 0,00 0,00 0,00

2. LONG TERM LIABILITIES 0,00 0,00 0,00A. Financial Liabilities (Net) 0,00 0,00 0,00B. Trade Payables (Net) 0,00 0,00 0,00C. Other Liabilities (Net) 0,00 0,00 0,00D. Advances Received 0,00 0,00 0,00E. Provisions for Liabilities & Expenses 0,00 0,00 0,00F. Income (Future & Expense Accruals) 0,00 0,00 0,00G. Other Long Term Liabilities 0,00 0,00 0,00

3. SHAREHOLDERS EQUITY 288.134,26 339.535,05 366.377,18A. Paid-in Capital 289.698,11 288.134,26 339.535,05B. Capital Reserves 0,00 0,00 0,00C. Reserves from Profits 0,00 0,00 0,00D. Retained Earnings 0,00 0,00 0,00E. Accumulated Deficit (-) 0,00 0,00 0,00F. Net Income (Loss) for the Period -1.563,85 51.400,79 26.842,13

290.977,79 348.175,70 378.036,53

0,00 0,00 0,00NOTE: All Values in Turkish Liras (TL)

TOTAL LIABILITIES

ASSETS

LIABILITIES

BALANCE





B. LALE

2017 Cybercrime Fraud

On 29 September 2017, IWI was the victim of a cybercrime fraud which led to the loss of funds (23.500 TL).

A fraudulent email account was opened under the name of ‘Anna Ilhan’; of which, an email was sent to the IWI Treasurer, Leen Saket, who honestly (and without malice) believed that the email was sent by the Chairwoman, Anna Ilhan, requesting funds to be transfer for payment of merchandise for the Lale Magazine.

The funds were transferred to KuveytTürk Bank in Esentepe Mah., Istanbul. Once the crime was discovered, immediate steps were taken to block our bank accounts (IWI and Lale) and notify a representative from the Board of Controllers, Yasemin Kunze.

Efforts have been made to recover the money; however, since the fraud was detected after a few days, it seems unlikely that the funds will be recovered.

Steps Taken: ¨ Closed existing accounts (IWI & Lale), open new accounts (with new account

numbers) and transfer all fund into the new accounts ¨ Provided an official letter to the Garanti Bank in Etiler notifying the bank and

the Garanti cybercrime division of the crime for their internal investigation. ¨ Hired a lawyer, Melek Barngrover of Koyuncuoğlu & Köksa Law Firm, who

represented IWI & Lale in this issue. Melek submitted a petition to the Istanbul Prosecutors Office; and wrote a legal letter notifying the KuveytTürk Bank an account at their bank was used for the crime.

¨ Bank notifications (via SMS) have been established for all bank transfer over 10TL (the minimum value allowed by Garanti Bank).

¨ Maximum daily transfer limit of 20.000TL has been set. ¨ IWI Members were notified via an email from the Chairwoman of the crime. ¨ Board member names have been removed from ‘public’ pages on the IWI

website and the Lale Magazine. Unfortunately, internet crimes are a reality of the times; and can happen to anyone or organisation at any time. Understanding some of the potential signs of a fraud is key in prevention.

Preventative Measures Communicated with Board of Directors and Members ¨ If questioning the validity of an email, check the email address to which it is

from ¨ Never open any attachments from someone you do not know ¨ Email is a great way to request information and communicate remotely;

nothing ever compares to picking up the phone and calling It is important to note that the over profitability of the Lale Magazine was greatly impacted by the cybercrime fraud as will be demonstrated on the P&L statement in this section.

LALE Year-End Balance (31.12.2017)

TL USD 15.080,00 2.795,00





LALE Profit & Loss (2016/2017)

Detailed profit and loss statement (P&L) for the Lale Magazine can be found in the appendix section at the end of this report.

2016 20171. INCOMES [TL]

600.01 Advertising Income 111.793,08 125.432,44610.01 Sales Returns (-) 0,00 (4.500,96)646.01 Profit From Foreign Currency Exchange 1.905,10 1.073,86679.01 Other Income And Profit 0,00 0,00

113.698,18 122.005,34

2. EXPENSES [TL]

740 Cost of Production of Services (58.891,00) (59.900,00)

740.01.01 Magazine Expenses (58.891,00) (59.900,00)

770 Office Operating Expenses (-) (18.470,36) (23.200,64)

770.03.01 Bookkeeping Expenses (10.558,69) (10.845,05)

770.03.03 Bank Charge (68,55) (114,15)

770.03.04 Cargo, Courier Expenses 0,00 (5.809,79)

770.03.05 Telephone Expenses (326,33) 0,00

770.03.06 Notary Expenses (248,92) (996,46)

770.04.01 Other Expenses 0,00 (819,59)

770.04.02 Rent Expenses (5.540,00) (3.060,00)

770.04.03 Chamber of Commerce Expenses (615,72) (434,50)

770.04.04 Condo Fee Expenses 0,00 0,00

770.05.02 Stamp Tax Expenses (1.112,15) (1.121,10)

770.06.01 Depreciation Expenses 0,00 0,00

656.01 Loss From Currency Exchange (-) (201,39) (367,55)

689.01 Other Ordinary Expenses & Losses (-)1 0,00 (23.506,50)(77.562,75) (106.974,69)

TAX PROVISIONS (7.230,57) (7.707,43)

28.904,86 7.323,221. 2017 'Other Ordinary Losses' (689.01) was result of the cybercrime fraud on 27.09.2017.NOTE: All Values in Turkish Liras (TL)


Actual

INCOMES TOTAL

EXPENSES TOTAL

Lale Magazine





LALE Summarized Balance Sheet

The detailed summarized balance sheet for the Lale Magazine can be found in the appendix section at the end of this report.

12.31.2015 12.31.2016 12.31.20171. CURRENT ASSETS 76.956,27 76.600,96 79.710,39

A. Liquid Assets (Net) 19.705,78 36.688,89 25.632,88B. Marketable Securities (Net) 0,00 0,00 0,00C. Trade Receivables (Net) 28.355,55 15.448,73 36.215,84D. Other Receivables (Net) 0,00 0,00 864,31E. Inventories (Net) 0,00 0,00 0,00F. Contract Progress Costs 0,00 0,00 0,00G. Prepaid Expenses & Income Accruals 0,00 0,00 0,00H. Other Current Assets (Net) 28.894,94 24.463,34 16.997,36

2. LONG TERM ASSETS 9.238,00 12.220,00 10.760,00A. Trade Receivables (Net) 0,00 0,00 0,00B. Other Receivables (Net) 0,00 0,00 0,00C. Financial Fixed Assets 0,00 0,00 0,00D. Tangible Fixed Assets (Net) 0,00 0,00 0,00E. Intangible Assets (Net) 0,00 0,00 0,00F. Assets Subject to Amortization (Net) 0,00 0,00 0,00G. Prepaid Expenses & Accrued Income 9.238,00 12.220,00 10.760,00H. Other Fixed Assets (Net) 0,00 0,00 0,00

TOTAL ASSETS 86.194,27 88.820,96 90.470,39

1. SHORT TERM LIABILITIES 70.211,69 55.511,04 49.837,25A. Financial Liabilities (Net) 0,00 0,00 0,00B. Trade Payables (Net) 2,00 756,02 6,02C. Other Liabilities (Net) 68.656,64 52.403,27 47.075,32D. Advances Received (Net) 703,00 767,00 0,00E. Contract Progress Income 0,00 0,00 0,00F. Taxes Payable & Other Fiscal Liabilities 250,00 303,06 2.755,91G. Provision for Liabilities & Expenses 600,05 1.281,69 0,00H. Income & Expense Accruals 0,00 0,00 0,00I. Other Short Term Liabilities 0,00 0,00 0,00

2. LONG TERM LIABILITIES 11.577,52 0,00 0,00A. Financial Liabilities (Net) 0,00 0,00 0,00B. Trade Payables (Net) 0,00 0,00 0,00C. Other Liabilities (Net) 0,00 0,00 0,00D. Advances Received 0,00 0,00 0,00E. Provisions for Liabilities & Expenses 0,00 0,00 0,00F. Income (Future & Expense Accruals) 11.577,52 0,00 0,00G. Other Long Term Liabilities 0,00 0,00 0,00

3. SHAREHOLDERS EQUITY 4.405,06 33.309,92 40.633,14A. Paid-in Capital 5.344,45 5.344,45 5.344,45B. Capital Reserves 0,00 0,00 0,00C. Reserves from Profits 0,00 0,00 0,00D. Retained Earnings 45.175,94 68.371,07 97.275,93E. Accumulated Deficit (-) -69.310,46 -69.310,46 -69.310,46F. Net Income (Loss) for the Period 23.195,13 28.904,86 7.323,22

86.194,27 88.820,96 90.470,39

0,00 0,00 0,00NOTE: All Values in Turkish Liras (TL)

ASSETS

LIABILITIES

TOTAL LIABILITIES

BALANCE





2.2 Membership Report – Elena Sklyarskaya (as of 20.4.2018)

2.2.1 Membership Structure

Type Number Business 22 Classic 169 Basic 107 Honorary 45 Overall 343

2.2.2 Membership Breakdown

A. Newcomers/Renewals

2016-2017 2017-2018 Newcomers 155 101 Renewals 245 242 Overall 400 343

a. Registrations During the Various Meet & Greets

Asian Side 12 Sep 17

European Side 13 Sep 17

European Side 8 Nov 17

Newcomers 4 25 10 Renewals 22 30 3 Overall 26 55 13

b. During the Same Period (Sep-Nov) 2-Yr Comparison

2016 2017 Newcomers 75 39 Renewals 65 55

B. Members Statistics

a. Asian/European Istanbul Residence

Side Number Percentage Asian 76 22,10% European 258 75,20% Not Available 9 2,70 Overall 400 100%

b. Members’ Ages

Age Group Number Percentage 20-29 6 1,75% 30-39 58 16,9% 40-49 87 25,4% 50-59 74 21,6% 60-69 33 9,6% 70-79 39 11,4% 80+ 6 1,75% Not Available 40 11,6% Overall 343 100%





c. Membership Duration

Duration (yrs) Number Percentage 0 110 32,0% 1 57 16,6% 2 49 14,3% 3 20 5,8% 4 25 7,4% 5 27 7,9% 6+ 55 16,0% Overall 343 100,00%

C. Members Nationalities

IWI is represented by members from 48 countries (63 in 2016).

a. Top Nationalities

Country Number Percentage

USA 68 19,8% Britain 46 13,4% Germany 38 11,1% Unknown 21 6,1% Turkey 19 5,5% France 17 5,0% Netherlands 11 3,2% Russia 8 2,3% Iran 7 2,0%

22%

46%

MEMBERS' NATIONALITIES

North America

Middle/South America

Western/Central Europe

Eastern Europe

MENA

Oceania

Africa

Northern Asia

Central/Southern Asia

Eastern/Southeastern Asia

Turkey

Unknown





2.3 Communications (Lale) Report – Monisha Kar At the beginning of 2018, the Lale core team onboarded a Deputy Editor, Features Editor, Art Director and conducted a strategy session to address our content, brand, revenue, as well as process improvements such as information sharing and on-time production and distribution.

Accomplishments • Completed roles and job descriptions for the Lale team • Established themes for each issue for the coming year • A repeatable workflow with action items, due dates and responsibilities for each issue

(using Trello workflow program) • Bi-monthly writer/photographer meetings to discuss article ideas • New design elements and content in the magazine on which we will continue to refine and

diversify

Challenges/Risks

Timely distribution of the magazine continues to be a challenge. After researching different cargo companies to handle our business, we had a face-to-face meeting with our current courier, IsMail to discuss how to improve communication, reporting and issues in order to improve on time deliveries. We will need to have regular meetings with our Account Managers and work closely with them to discuss how to maintain/improve performance.

Increasing our advertising revenue continues to be a pressing need. We have a vacancy in the Advertising Coordinator role in 2017/18, and our regular income stream continues to be from international schools. There is a need to diversify our advertising base, and the plan is to relaunch the magazine later this year with an email campaign to local businesses and social organisations to encourage them to advertise with the magazine or other IWI channels. Due to strong events and sponsorship efforts, we have gotten additional exposure in the last several months for advertising and collaboration. If we can recruit a Turkish-speaking Advertising Coordinator with good relationship-building skills, this will potentially improve our revenue.

Looking Ahead

We are continuing to search for writers and photographers through our relationship with other expat organisations and our contacts in the community. We have a pressing need for skilled, local photographers. They are harder to find as the amount of time and effort to take and edit photos is particularly time-consuming and costly relative to writing. In the meantime, we need to invest in a stock photo service and cultivate relationships with photographers who would like to work with us on a voluntary basis until we can turn a profit in order to pay contributors (this is where working with students or people who want to build their portfolio would be helpful).

We are continuing to increase our marketing and exposure by sending Lale to schools, doctors, consulates, and leaving them in cafes. Within the next year, we would like to redesign our media kit which provides advertisers with information on how they can partner with us, and also make that available on the IWI website and Lale FB pages.

Developing a Social Media and Marketing strategy is critical to increase our visibility. Although research shows that consumers still prefer to read magazines in print, the way we gain exposure and buzz for the magazine will depend on having social media presence. There is limited awareness of the magazine outside of IWI, which will affect our ability to attract contributors, readers and advertisers within Istanbul but also in Turkey as we are interested in eventually distributing content within Turkey and internationally.

We are in the process of developing a business plan for the magazine which will address our organizational structure, marketing plan, operational plan, and financial plan including expenses and income.





2.4 Programmes Report – Fiona Slay (2017/2018) The 2017/18 Season was again a very successful one for IWI Programmes.

In total, 48 Programmes went ahead, only a very few were cancelled due to lack of registrants. In all, 483 participant places were taken up (excluding 56 Guests’ places). There was a significant number of events which were fully subscribed, for which a waitlist system was managed.

The amended pricing policy agreed at last year’s AGM was introduced without issue – Honorary and Basic members are charged at the same price, slightly more than Classic members, and any gains are put towards the IWI Administration costs (vs Social Responsibility Fund).

The summer trimester highlights were the Summer Lunch, another Bosphorus “dip and dine” event, as well as a Sailing Experience, Wine Tasting, Make-up Workshop and several walking tours.

There was a drop in the number of new members recruited in the autumn, most joining at the “Meet and Greet” sessions held at the end of September. The three events designed for newcomers in 2016 were repeated in 2017 and were again popular. Programmes really only started in October, but still 18 programmes were run and attracted large numbers of the new members.

The spring trimester saw a continued high level of interest in Programmes:

Period Programmes Participants Programmes Participants

2016/2017 2017/2018 May - Aug 7 110 13 143 Sep - Dec 21 250 18 195 Jan - Apr 16 158 18 201 Total 44 518 49 539

We have planned a full schedule for May/June, including our Summer Lunch at one of Istanbul’s top restaurants, and intend to run the Bosphorus “Dip and Dine” event at least once over the summer holiday period.

A day trip to Edirne on a Saturday in late May has attracted a good number of members, including spouses and older children. Depending upon the success of this trip, being run with CIP Events, we may wish to run similar events in future. New ideas for the autumn include talks on gardening in Istanbul, and on the intrepid Middle Eastern traveller and spy Gertrude Bell.

Members have continued to note the professionalism of the organisation of events, for which the IWI’s Wild Apricot database system has been fully utilised to manage on-line registrations, automated confirmation of registrations, reminder emails and recording of payments.

Our success has continued to be helped significantly by the use of two Partner companies, CIP Events and Alternative City Tours, and this year we introduced a third partner, Banu Küçüksubaşı, to run art gallery and exhibition tours – these have been hugely popular.

Our thanks also go to our Members who ran Member-led events, especially on Asia side of Istanbul.





2.5 Business Networking Report – Shadi Kafaielotfi Due to a change of Coordinator, the Business Networking Division was not very active in 2017 as the team made the necessary changes and preparations for the group. A Meet & Great evening session was organised in November, which was welcomed by members. A workshop created by one of our business member was arranged in December to assist in promoting her business.

2018 began by actively engaging with our Business Members by collecting their wishes and expectation of the division. We also ensured that the Business Members profiles were activated on the IWI website; and invited lapsed members to re-join the network, of which, 2 members returned and 3 new members joined. In March, we had a Coffee & Cocktail evening gathering with the Business Networking Division which 12 people participated along with the invited members from Via Pro Istanbul. In return, our division was invited to their Breakfast Workshop in April.

We are planning two workshops in May, one created by an IWI member which will be beneficial for our Business Members; and a workshop organised by a Business Member to introduce and promote her business to the other members.

Currently, we have a close cooperation with Via Pro Istanbul, the Business Group of French Community; and Maradee de Guzman, a Gallup certified Strengths Coach.

We continue to have close personal contact with our members to understand their expectations and keep them motivated and satisfied.

2018 Targets

• Provide Workshop/Visit/Show Day for all the Business Members to introduce their businesses to the others.

• Maintain continuous contact with other social/Business Women groups in Turkey to provide more opportunity for our members.

• Organise a Meet & Greet as a season opener in October • Create Content for the Lale Magazine related to Business Networking • Raising Budget through providing workshop from Business Members for all members





2.6 Special Events Report

2.6.1 2017 Winter Festival

IWI’s largest annual special event, the Winter Festival was held on Sunday, 3 December, 2017 from 10:00 - 17:00 at the İstanbul Marriott Şişli Hotel (Marriott). The focus was a family-oriented, community-building event that included a commercial bazaar, international food court, Santa grotto, children’s corner and sweepstakes. There were four (4) event sponsors, 68 lottery prizes (valued at over 500 TL each), 290 Santa gifts, and 2.900 give-aways.

This year we elected to eliminate the food token system. Therefore, the food court stallholders paid a flat fee of per table with no donation from their income. By the positive feedback we received from the stallholder, visitors and volunteers, we recognise that this was the right decision.

Additionally, we added the Children’s Corner for schools and activity centres to participate free of charge as long as they provide an activity and entertainment for the visiting children. The stallholders may charge a fee for their activity as a way to raise funds for their school or centre. This decision also reduced the number of volunteers required to monitor the area; which has been one of the most difficult areas to staff in the past.

Events Team The Winter Festival team consisted of 11 women (Anna İlhan, Karen Yarnold, Anke Tamer, Jeanette von Alvensleben, Maria Eroğlu, Merle Klehn, Gülşen Şahin, Gintare Nemanyte, Anna Mozekjo, Sonia Castro and Fiona Slay) and one Santa on a scooter. The dedicated team spent an estimated 2.000 woman-hours over the 12 weeks in preparation. Additionally, there were 86 volunteers on the day (representing 18 nationalities), providing approximately 308 hours of much appreciated assistance.

A. Stall Breakdown

Commercial Stalls ¨ 74 commercial stalls selected under criteria of quality and diversity of products

(again we had a waiting list this year) ¨ 750 TL per table (no reduction for additional tables)

International Food Court Stalls ¨ 14 food court stalls offering 12 different cuisines ¨ 750 TL per table (no reduction for additional tables) with no donation to IWI; or

no table fee with 100% income donated to the organisation

Community Stalls ¨ 17 community stalls consisting of national groups, schools and non-profits ¨ 400 TL per table with no donation to IWI; or no table fee and 100% donation to

the organisation ¨ Table are provided free of charge (with no expectation of a donation) to our

current Social Responsibility Grantees, Bomonti Fransız Fakirhanesi and the Girls and Boys Scouts

Children’s’ Corner ¨ Five (5) Children’s Corner vendors consisting of schools and children centres

offering a variety of activities for the children ¨ No table fee or donation to the IWI; must provide an activity/entertainment for

visiting children ¨ Each vendor had the option of charging a fee for their services





B. Income & Cost Breakdown

2016 2017 VarianceNET PROFIT 115.768,80 74.005,00 -36%

TOTAL EXPENSES (45.253,20) (45.289,00) 0%TOTAL INCOME 161.022,00 119.294,00 -35%

TOTAL EXPENSES (45.253,20) (45.289,00) 0%Venue Rental Marriott Sisli Hotel (35.000,00) (35.000,00) 0%Venue Electricity Marriott Sisli Hotel (8.550,00) (7.200,00) -19%Breakfast Boxes Marriott Sisli Hotel - (320,00) 100%Misc Expenses (1.703,20) (2.282,00) 25%Tickets (Design & Printing) - (472,00) 100%Other (food vouchers) - (15,00) 100%

TOTAL INCOME 161.022,00 119.294,00 -35%Sponsorship (Cash) 4.500,00 - Entrance Tickets 32.401,00 21.290,00 -52%# of Entrance Tickets Sold 2.129 Income per Entrance Ticket 10 Lottery Tickets 6.970,00 7.880,00 12%Lottery Tickets Sold 1.576 Income per Lottery Ticket 5 Income from Stalls 90.725,00 78.220,00 -16%Commercial Stalls (74 stalls) 64.770 Foodcourt Stalls (9 stalls) 10.250 Community Stalls (6 stalls) 3.200 Donation from Vendors (Food) 15.776,50 5.430,00 -191%

100% donation 400 100% donation 609 100% donation 569 100% donation 463 25% donation 3.389

Donation from Vendors (Community) 9.373,00 5.136,00 -82%10% donation 41 100% donation 1.000 100% donation 1.233 100% donation 2.862

Santa 1.276,50 878,00 -45%Other (breakfast boxes & donations) - 460,00 NOTE: All Values in Turkish Liras (TL)

Latvia Cuisine

2017 Winter Festival Actuals

BanvitIWI CakesIWI Drinks

Marriott

Annette FleckChikas Estambul

IWI BookstallTR Nat. Group





2.6.2 Women’s Day Walkathon

IWI celebrated International Women’s Day with small walks organised through the local Neighbourhood Meetup areas (10 local areas in total). Each area’s walk started at 10:00 varying in length from 1-5 kilometres; and ended with lunch at one of the local cafes. The objective was for our members to come together, have fun and socialise.

In addition, since many of our members support the Bomonti Fransiz Fakirhanesi (Bomonti), a nursing home operated by the Little Sisters of the Poor, we decided to donate any funds raised during the event directly to Bomonti. The IWI Social Responsibility fund also matched these funds bringing the total amount given to Bomonti to 7.000 TL.

This is the second year IWI has celebrated international Women’s Day with a fun activity for her members. The event team consists of the local Neighbourhood Meetup Administrators and led by our Community Coordinator, Maria Eroğlu.

A. Walkathon Funds Breakdown

NM AREA NEIGHBOURHOODS LOCAL ADMINS FUNDS

Macenta Beşiktaş/Levent Leen

Pembe Bebek Trudie

Beyaz Ortaköy/Ulus Wendy

Mor Nişantaşı/Beyoğlu Becky ₺₺ 920

Turkuaz & Sarı Istinye & Sariyer Szilvia ₺₺ 490

Mavi Göktürk Anke ₺₺ 884

Yeşil Yeşilköy/Bakırköy Lida ₺₺ 180

Lacıvert Beykoz Skaidrite ₺₺ 100

Kırmızı Kadıköy/Üsküdar/Çengelköy Gabriele ₺₺ 325

₺ 3.750 ₺ 3.750 ₺ 7.500

Amount Raised During Event:

Amount Matched by Social Responsibility Fund:

Given to Bomonti Fransiz Fakirhanesi:

2018 WOMEN'S DAY WALKATHON

₺₺ 851





2.7 Social Responsibility Reports – Wendy Chan

2.7.1 Overview

IWI values community involvement and social responsibility. With the efforts and generosity of members, IWI has been able to assist people in need by:

• Raising awareness of social impact causes in Turkey • Providing opportunities for members to interact with local charities • Supporting carefully selected nonprofits with small project grants

This year, IWI’s Social Responsibility activities included:

• Two social responsibility-related Programme events for members received very positive feedback from participants:

¨ Documentary Screening to raise awareness about an inspiring grassroots charity and highlight the work and efforts of IWI members who worked on the film project

¨ Taste of Syria Lunch hosted by Small Projects Istanbul, a current grant recipient, to highlight the NGO’s work

• A regular column in Lale magazine raising awareness of issues like sustainable living, waste reduction, and homelessness, in addition to articles about IWI Social Responsibility activities and grant recipients

• An active Social Responsibility Committee of 9 members meeting regularly to discuss and plan social-impact activities for IWI

In addition, apart from these activities the core of IWI Social Responsibility is the Social Responsibility Fund comprised of net proceeds from IWI events. This Fund is used for making donations to nonprofits that support people in need.

Important achievements related to the Fund in 2017-2018 included:

1. A survey sent to all members in November 2017 to gauge member awareness, interest, and priority areas for grants and other social responsibility activities. Highlights from the survey results:

¨ Confirmation of member awareness of IWI social responsibility activities ¨ A change in the priority areas for annual grant giving (beginning with 2018-

2019 grants) to focus on Education, Domestic Violence, Childhood Development, Refugees and Migrants, Gender Equality

¨ Expanded target audience for projects under the annual grant giving program to include all economically disadvantaged people in Turkey

2. A Donation Policy created in February 2018 and posted to the IWI website to provide greater structure and clarity around donations made from the Social Responsibility Fund. The guiding principles of the policy are:

¨ All donations must have Board approval ¨ Donations are made to registered nonprofit charities in Turkey only ¨ Details of donations are shared at the Annual General Meeting ¨ Maximum one donation per charity per fiscal year

3. A Women’s Day Walkathon event in March 2018 raised funds to support the Bomonti Fransiz Fakirhanesi (Bomonti), a nursing home operated by the Little Sisters of the Poor. IWI has a longstanding relationship with Bomonti and many IWI members volunteer as well as donate saleable goods for the bi-annual Kermes. In total, 7.500 TL was donated to Bomonti consisting of:

¨ 3.750 TL raised from members during the Women’s Day Walkathon ¨ An equal match amount of 3.750 TL from the Social Responsibility Fund





¨ Bomonti used the funds to purchase a patient lifting device to help staff lift and move elderly residents

4. A Call for Proposals in April 2017 obtained applications for project funding from registered Turkish nonprofits working in areas of priority to IWI members.

¨ Seven organizations applied for project funding serving women and girls in the areas of Leadership, Economic Development, Women’s Rights, Childhood Development, Refugees and Migrants

¨ In total 63.900 TL was granted to support the projects of five nonprofits

2.7.2 2016-2017 Grantees

DLD - Değişim Liderleri Derneği

Organization Focus Değişim Liderleri Derneği (DLD) operates a leadership development program, called Sparks, for young women in university from economically disadvantaged backgrounds. Participants are usually the first in their families to go to university and often do not have many role models to assist with the opportunities and challenges encountered during university and their careers.

Through the Sparks program, participants benefit from support networks and gain valuable leadership and collaboration skills working on teams to identify, plan and implement a community-focused social change project. The program supports economic and social development in Turkey by helping young women reach their fullest potential.

Project Description IWI provided 12.000 TL to create several professionally produced videos that will help attract young women to participate in the program. As well, the videos will be important marketing tools for DLD to find more donors that will enable the program to grow and reach more young women.

Results The film follows the story of sisters from a poor family in Antakya who are both participants in the Sparks leadership development program while attending Ege University in Izmir. One is studying Bioengineering and the other Obstetrics. By focusing on these two sisters, the film shows the benefits of the Sparks program in context which is expected to help inspire greater interest in the program from donors and disadvantaged students. It is estimated that the film will reach tens of thousands of people via social media channels.

The IWI funds were used to support the cost of hiring a professional filmmaker to shoot and perform post-production work. Additional expenses required to film the girls in their home village in Antakya were covered by DLD.

Europa Donna Türkiye

Organization Focus Meme Hastalıkları Koalisyonu Derneği (Europa Donna Türkiye) is part of EUROPA DONNA, an international non-profit organization that focuses on raising awareness of





breast health and the importance of early detection and treatment of breast cancer. The organization also advocates for better education, screening, treatments and research.

According to the World Health Organization, breast cancer is the most common form of cancer among women and in less developed regions, it is the most frequent cause of cancer deaths in women. The most effective ways to fight the disease are through awareness, early diagnosis and treatment.

Project Description IWI provided 12,000 TL to support Europa Donna’s project to raise breast health awareness and provide mammography screenings for economically disadvantaged women. The project will target women in Istanbul, in communities where access to breast health information is limited. Awareness about the importance of breast health will be raised among women from more traditional and conservative communities where the subject is usually not discussed. Women who benefit from this project include Turkish women as well as migrants from other regions in Turkey and Syria.

Results This project provided 200 underprivileged women in Istanbul with breast health information via sessions led by Europa Donna’s President, Violet Aroyo, a registered nurse, as well as 3 other nurses, a doctor, and an Arabic translator. The women are from Mavi Kalem’s community center in the Balat, Fatih area of Istanbul.

Separately, for 100 of these women from Mavi Kalem received mammography screenings and breast ultrasounds at a clinic in Şişli.

The IWI funds were used to cover the cost of transportation for the 100 women to the clinic in Şişli, as well as payment for the heavily discounted breast screenings. Overall, the information and screenings will help women with limited means proactively take control of their health.

Qnushyo

Organization Focus Qnushyo is a grassroots community center in the Yedikule area of Istanbul focused on refugee and migrant families (primarily women and children) from all ethnic and religious backgrounds. The center provides workshops and activities that focus on skill development, local knowledge and integration, as well as the promotion of well-being.

Qnushyo assists refugees with basic needs and help them re-structure their lives. It offers guidance to families in registering children in school and tries to create a welcoming gathering place for migrants from diverse backgrounds and beliefs. Through the center, children and parents participate in activities that help them build social connections and adjust to life in Istanbul.

The center is entirely run by volunteers. Volunteers from among the adult refugee population and also volunteers from Turkey, U.S, Sweden, Germany, Denmark, UK and other many other countries lead activities at the center.

Project Description Originally IWI provided 12,000 TL to support a summer program for children and adults to include language education as well as field trips to various parts of the city. The intent of the program was to support the integration of migrants to Turkish society.





Challenges Shortly after the grant was awarded, the Ministry of Education prohibited all educational activities from being provided by institutions affiliated with the Ministry of National Education. As a result, Qnushyo ceased all its educational activities which was comprised mainly of Turkish and English language instruction.

Results In order to continue focusing on education for the children after the change to the education laws, Qnushyo redirected the IWI funds to support the enrolment of 45 children in 4 local area public schools.

While school registration is free for elementary, secondary and high school, there are fees required for uniforms. For pre-school, fees are needed to cover school lunches for the children. A such, the IWI funds were used to pay for mandatory school uniforms for 36 children and school lunches for 9 kindergarten kids that were required by the schools as a condition of enrolment.

The change in scope of the project has enabled 45 migrant children to go to school and help them become integrated into Turkish life more easily.

Small Projects Istanbul (Zeytin Ağacı Derneği)

Organization Focus Small Projects Istanbul (SPI) operates a community center in Çapa, a neighbourhood in the Fatih district of Istanbul. The center offers a safe place for migrants, primarily from Syria, to develop social connections with others, take part in activities and develop skills to foster greater independence.

SPI’s programs include activities for kids, community-building initiatives, and back-to-school assistance. In addition, SPI manages a women’s craft collective, a social enterprise that trains women from the community to create handicraft products, develop skills to run a small enterprise, and identify channels to sell their products. The collective has been successful in helping women produce goods that can generate income and expand their opportunities.

Project Description IWI provided 12,000 TL to support the continued expansion of the craft collective to enable more women to participate in the enterprise. Also, the funds enable the creation of more leadership roles in the collective for those with the interest and aptitude to learn new skills and gain greater job responsibility.

Results This year, 82 women participated in the collective enabling the acquisition of practical and transferable skills, as well as opening up opportunities for the women to sell their products, receive fair compensation, and contribute to their families’ household income. Indeed the collective provided a safe and encouraging environment in which these women could learn, seek support and build meaningful social connections.

Approximately half of the IWI funding went to support incentives for women from the collective in leadership roles -- the Coordinator and 8 Team Leaders. The other half of the grant was used to cover the costs of production equipment, materials and make a contribution to the facility’s utilities and space for the collective’s operations.





Yöret Vakfı

Organization Focus Yüksek Öğrenimde Rehberliği Tanıtma ve Rehber Yetiştirme Vakfı (Yöret) provides training to teachers, counsellors and volunteers who work with at-risk children. The aim of the organization is to increase the psychological resilience of children in the face of adverse situations such as poverty and displacement due to war and conflict.

Yöret focuses its work on economically disadvantaged children and families, including migrants. Through its programs, Yöret helps mitigate violence at home, at school, and in the streets among children and young people, by advocating gender equality, non-violent forms of communication, social inclusion and children’s rights.

Project Description IWI provided 15.900 TL to support an innovative project to focus on benefiting economically disadvantaged mothers (including refugees and migrants) in the Sulukule and Çapa communities in Istanbul. Yöret’s project will train 9 masters student from Bilgi University and 4 psychologists from the Association for Solidarity and Asylum Seekers (ASAM) to teach positive parenting skills to 80 mothers of at-risk children.

The training program includes ways to keep children engaged with learning, as well as approaches to dealing with anger and frustration in children. In addition, mothers will find important peer support for themselves. Overall, the project will help both mothers and children deal with past traumatic experiences and the challenges of adjusting to life in Istanbul.

Results The project reached 80 mothers who participated in the 10-week program. The program helped them become more aware of their reactions to stress, learn ways to control their emotions, and face the fact that they may have lost many family members during the move from one country to another. Overall, the mothers learned to better take care of themselves and find ways to help them create a more peaceful family environment, improve their peer support system and relationships with neighbours.

Also, to execute the project, Yoret trained 13 professionals (9 university master students studying Psychology and 4 practicing psychologists) to provide deliver the training sessions thereby bolstering their academic and professional experience. A training manual was created for professionals who would like to use the program in the future.

The innovative nature of this project garnered the interest of a Bilgi University professor, Dr. Yudem Akyil, who will be writing a paper about it for a scientific magazine and will mention IWI’s sponsorship of the project.





3 Board of Controllers Report





4 Discussion and Approval of Budget

4.1 IWI Budget Discussion

IWI

DESCRIPTION AMOUNT DETAILS

Membership 30.000 assuming we will retain 300 members in different capacity taking average fees of 100 TL/member

Winter Festival Income 120.000 kept at the same level of 2017

Events 18.000 focus on business network and other events including spring festival and walkathon

Other income 9.750 with lower currency valuation expecting no gains here

GROSS TOTAL INCOME 177.750

General Administrative Expenses 43.560 we have higher expense budgeted for increased ERP (wild apricot), AMC and 12% inflationary expense

Events & Charitable Contributions 129.000 Bazaar expenses and donations, expenses budgeted for spring festival and business networking promotions

Misc expeses 3.500 taxes, depreciation and currency fluctuation

GROSS TOTAL EXPENSES 176.060

NOTE: All Values in Turkish Liras (TL)

-25%-27%

-51%

-31%

Membership Special Events Other Total Income

Revenue Variation Between 2016 & 2017

% change between 2016 and 2017

-40%

-21%

-26%

General Admin Misc Expeses Total

Expense Variation Between 2016 & 2017

% change between 2016 & 2017





4.2 IWI 2018 Budget

Do you agree with this budget (Bu bütçesi katılıyor musunuz)?

YES (Evet) NO (Hayır)

Budget2018

1. INCOMES [TL]603.01 Membership Incomes 41.501,46 31.248,15 30.000,00

603.01.001 Basic Membership 4.202,06 13.848,15603.01.002 Classic Membership 31.284,00 13.560,00603.01.003 Business Membership 6.015,40 3.840,00

603.02 Social Responsibility Donation 4.863,50 3.013,42 5.000,00603.03 Spring Event 0,00 0,00 3.000,00603.04 Bazaar Incomes 164.779,94 119.982,80 120.000,00603.05 Sponsor 0,00 0,00603.06 Business Networking Events 2.575,00 5.304,00 4.000,00603.07 Other IWI Programmes/Events 12.542,00 1.863,00 10.950,00642.01 Interest Income 2.927,45 747,09 800,00646.01 Profit From Foreign Currency Exchange 17.647,76 9.025,64 4.000,00649.01 Other Income And Profit 0,00 0,00

246.837,11 171.184,10 177.750,00

2. EXPENSES [TL]

793 General Administration Expenses (-) (51.517,09) (30.976,60) (43.560,00)

793.01 Office Rent & Additional Charges (17.148,50) (4.049,28) (4.700,00)

793.02 Communication Expenses (109,50) (3.132,90) (3.700,00)

793.03 Delivery Expenses (12.788,67) (4.300,84) (5.160,00)

793.04 Marketing Expenses (3.620,00) (1.431,18) (4.000,00)

793.05 Legal Consultancy & Services (15.950,40) (14.836,42) (21.000,00)

793.06 General Administrative Expenses (1.170,00) (1.509,93) (2.000,00)

793.07 Hospitality & Catering (719,97) (421,05) (2.000,00)

793.08 Other Office Related Costs (10,05) (1.295,00) (1.000,00)

794 Miscellaneous Expenses (-) (142.993,64) (113.263,67) (129.000,00)

794.02 Winter Bazaar (65.481,80) (42.929,60) (50.000,00)

794.03 Spring Event 0,00 0,00 (15.000,00)

794.04 Social Responsibility Fund (76.710,00) (67.148,27) (60.000,00)

794.05 Business Networking Events (558,00) 0,00 (3.000,00)

794.06 Other IWI Programmes/Events (243,84) (3.185,80) (1.000,00)

795 Taxes (126,00) (101,70) (500,00)

796 Depreciations (210,40) 0,00 0,00

656.01 Loss From Currency Exchange (-) (589,19) 0,00 0,00

689.01 Other Ordinary Expenses & Losses (-) 0,00 (118,12) (3.000,00)(195.436,32) (144.460,09) (176.060,00)

51.400,79 26.724,01 1.690,00NOTE: All Values in Turkish Liras (TL)

Actuals2016 2017


IWI

INCOMES TOTAL

EXPENSES TOTAL





4.3 LALE Budget Discussions

LALE

DESCRIPTION AMOUNT DETAILS

Advertisement Income 120.000 Assuming 10% better transaction than 2017 , but lesser currency conversion from dollor to TL rate

Misc Income 1.800 10% Increment from 2017

GROSS TOTAL INCOME 121.800

General Administrative Expenses 65.890 Assuming 10% inflationary expenses from 2017 (started to flow in from April 2018)

Operating Expenses 31.477 Assuming 10-12 % inflationary fluctuation from last year and about

Marketing Expeses 10.000 Digital Marketing expenses

GROSS TOTAL EXPENSES 107.367


2%

152%

38%

Production Operating Total

Expense Variation between 2016 & 2017


8%

-44%

7%

Advertisement Other Total







4.4 LALE 2018 Budget

Do you agree with this budget (Bu bütçesi katılıyor musunuz)?


Budget2016 2017 2018

1. INCOMES [TL]600.01 Advertising Income 111.793,08 125.432,44 120.000,00610.01 Sales Returns (-) 0,00 (4.500,96)646.01 Profit From Foreign Currency Exchange 1.905,10 1.073,86 1.800,00679.01 Other Income And Profit 0,00 0,00

113.698,18 122.005,34 121.800,00

2. EXPENSES [TL]

740 Cost of Production of Services (58.891,00) (59.900,00) (65.890,00)

740.01.01 Magazine Expenses (58.891,00) (59.900,00) (65.890,00)

770 Office Operating Expenses (-) (18.470,36) (23.200,64) (22.520,82)

770.03.01 Bookkeeping Expenses (10.558,69) (10.845,05) (14.640,82)

770.03.03 Bank Charge (68,55) (114,15) (80,00)

770.03.04 Cargo, Courier Expenses 0,00 (5.809,79)

770.03.05 Telephone Expenses (326,33) 0,00

770.03.06 Notary Expenses (248,92) (996,46) (300,00)

770.04.01 Other Expenses 0,00 (819,59)

770.04.02 Rent Expenses (5.540,00) (3.060,00) (5.000,00)

770.04.03 Chamber of Commerce Expenses (615,72) (434,50) (650,00)

770.04.04 Condo Fee Expenses 0,00 0,00

770.05.02 Stamp Tax Expenses (1.112,15) (1.121,10) (1.500,00)

770.06.01 Depreciation Expenses 0,00 0,00

656.01 Loss From Currency Exchange (-) (201,39) (367,55) (350,00)

689.01 Other Ordinary Expenses & Losses (-)1 0,00 (23.506,50)(77.562,75) (106.974,69) (88.760,82)

36.135,43 15.030,65 33.039,181. 2017 'Other Ordinary Losses' (689.01) was result of the cybercrime fraud on 27.09.2017.NOTE: All Values in Turkish Liras (TL)


Actual

INCOMES TOTAL

EXPENSES TOTAL

Lale Magazine





5 Election of Principals & Alternatives

5.1 Proposed 2018-2019 Board of Directors (Yönetım Kurulu) Principal (Asıl) Deputy (Yedek)

Karen Çiftçi Esbie van Heerden Ünsal

Kateryna Toros Tammy Wei Ning Çaydamlı

Bhavna Gupta Thakur Ebru Demirel

Lyubov Gürler Leen Saket

Irene Mirjam Draisma Halima Hodzic

5.2 Proposed 2018-2019 Board of Controllers (Denetım Kurulu) Nilgün Coruk Aylin Gottardo

Ayşe Yücel Ayşe Slevogt

Yasemin Kunze-Concewitz Anna İlhan

Do you agree with the Main Board of Directors and Controllers on this list (Listedeki Yönetim ve Denetim Kurulu kabul eder misiniz)?






6 Appendix

6.1 IWI Detailed Summarized Balance Sheet

6.1.1 Assets

12.31.2016 12.31.2017 12.31.2016 12.31.20171. CURRENT ASSETS 341.717,22 374.447,04 2. LONG TERM ASSETS 6.458,48 3.589,49

A. Liquid Assets (Net) 289.313,95 320.507,57 A. Trade Receivables (Net) 0,00 0,00i. Cash i. Customersii. Cheques Received ii. Notes Receivablesiii. Banks 289.313,95 320.507,57 iii. Rediscount on Notes Receivables (-)iv. Cheques Given & Payment Orders (-) iv. Deposits & Guarantees Givenv. Other Liquid Assets v. Provision for Doubtful Trade Receivables (-)

B. Marketable Securities (Net) 0,00 0,00 B. Other Receivables (Net) 5.000,00 3.589,49i. Share Certificates i. Due from Shareholdersii. Overnight ii. Due from Affiliatesiii. Public Sector Bonds & Notes iii. Due from Subsidiaries 5.000,00 3.589,49iv. Other Marketable Securities iv. Due from Personnelv. Provision for Decrease in Marketable Securities Value (-) 0,00 0,00 v. Other Receivables

C. Trade Receivables (Net) 0,00 0,00 vi. Rediscount on Other Notes Receivables (-)i. Debtors vii. Provision for Other Doubtful Trade Receivables (-)ii. Other Debtors C. Financial Fixed Assets 0,00 0,00iii. Rediscount on Notes Receivables (-) i. Long Term Securitiesiv. Deposits & Guarantees Given ii. Decrease in Value of Securities (-)v. Other Trade Receivables iii. Affiliatesvi. Doubtful Receivables iv. Capital Commitments for Affiliates (-)vii. Provision for Doubtful Trade Receivables (-) v. Decrease in Value of Affiliates Shares (-)

D. Other Receivables (Net) 52.403,27 52.919,47 vi. Subsidiariesi. Due from Shareholders vii. Capital Commitments for Subsidiaries (-)ii. Due from Affiliates viii. Decrease in Value of Subsidiaries Shares (-)iii. Due from Subsidiaries ix. Other Financial Fixed Assetsiv. Due from Personnel x. Decrease in Value of Other Financial Fixed Assets (-)v. Other Receivables (NOTE: Lale Financial assistance) 52.403,27 52.919,47 D. Tangible Fixed Assets (Net) 0,00 0,00vi. Rediscount on Other Notes Receivables (-) i. Landvii. Other Doubtful Receivables ii. Land Improvementsviii. Provision for Other Doubtful Trade Receivables (-) iii. Buildings

E. Inventories (Net) 0,00 0,00 iv. Plant, Machinery & Equipmenti. Raw Material & Supplies v. Motor Vehicles

ii. Semi-finished Goods in Production vi. Furniture & Fixtures 2.452,09 2.452,09iii. Finished Goods vii. Other Tangible Fixed Assetsiv. Trade Goods viii. Accumulated Depreciation (-) -2.452,09 -2.452,09v. Other Inventories ix. Construction In Progress vi. Provision for Inventories (-) x. Advances Givenvii. Advances Given for Purchases E. Intangible Assets (Net) 0,00 0,00

F. Contract Progress Costs 0,00 0,00 i. Rightsi. Contract Progress Costs ii. Goodwillii. Advances Given to Sub-Contractors iii. Establishment & Formation Expenses

G. Prepaid Expenses & Income Accruals 0,00 1.020,00 iv. Research & Development Expensesi. Prepaid Expenses for Future Periods 1.020,00 v. Special Cost 3.186,00 3.186,00ii. Income Accruals vi. Other Intangible Fixed Assets

H. Other Current Assets (Net) 0,00 0,00 vii. Accumulated Amortization (-) -3.186,00 -3.186,00i. Differed VAT viii. Advances to Suppliers ii. Deductible VAT F. Assets Subject to Amortization (Net) 0,00 0,00iii. Other VAT i. Exploration/Research Expensesiv. Prepaid Taxes & Funds ii. Preparation & Development Expensesv. Work Advances iii. Other Amortizable Assets

vi. Advances to Personnel iv. Accumulated Amortization (-) vii. Inventory Shortages v. Advances to Suppliers viii. Other Current Assets G. Prepaid Expenses & Accrued Income 1.458,48 0,00ix. Provision for Other Current Assets (-) i. Prepaid Expenses for Future Periods 1.458,48

ii. Income Accruals 0,00H. Other Fixed Assets (Net) 0,00 0,00

i. Deductible VAT in Future Yearsii. Other VATiii. Inventories (Future Needs)iv. Inventories & Tangible Fixed Assets to be Soldv. Prepaid Expenses & Fundsvi. Other Fixed Assetsvii. Decrease in Value of Stocks (-)viii. Accumulated Depreciation (-)

TOTAL ASSETS 348.175,70 378.036,53

IWI OrganisationSummarised Balance Sheet

ASSESTS






6.1.2 Liabilities

12.31.2016 12.31.2017 12.31.2016 12.31.20171. SHORT TERM LIABILITIES 8.640,65 11.659,35 2. LONG TERM LIABILITIES 0,00 0,00

A. Financial Liabilities (Net) 0,00 0,00 A. Financial Liabilities (Net) 0,00 0,00i. Bank Loans 0,00 0,00 i. Bank Loansii. Current Maturities of Long Term Credits & Accrued Interest ii. Bonds Issuediii. Current Maturities of Bonds & Accrued Interest iii. Other Securities Issuediv. Bonds & Notes Issued iv. Value Difference of Securities Issued (-)v. Other Securities Issued v. Other Financial Liabilitiesvi. Value Difference of Securities Issued (-) B. Trade Payables (Net) 0,00 0,00vii. Other Financial Liabilities i. Suppliers

B. Trade Payables (Net) 8.295,76 5.236,23 ii. Notes Payablesi. Domestic Services Creditors 8.295,76 5.236,23 iii. Rediscount on Notes Payables (-)iii. Foreign Creditors iv. Deposits & Guarantees Receivediv. Rediscount on Notes Payables (-) v. Other Trade Payablesv. Deposits & Guarantees Received C. Other Liabilities (Net) 0,00 0,00vi. Other Trade Payables i. Due to Shareholdersvii. Intercompany Payables ii. Due to Affiliates

C. Other Liabilities (Net) 0,00 5.655,97 iii. Due to Subsidiariesi. Due to Shareholders iv. Other Payablesii. Due to Affiliates v. Rediscount on Other Notes Receivables (-)iii. Due to Subsidiaries vi. Depts to The Public Sector, Deferred or Payable by Installmentsiv. Due to Personnel D. Advances Received 0,00 0,00v. Other Liabilities 5.655,97 E. Provisions for Liabilities & Expenses 0,00 0,00vi. Rediscount on Other Notes Receivables (-) i. Provision for Termination Indemnities

D. Advances Received (Net) 0,00 0,00 ii. Provisions for Other Liabilities & Expenses E. Contract Progress Income 0,00 0,00 F. Income Relating to Future Periods & Expense Accruals 0,00 0,00

i. Contract Progress Income i. Income Relating to Future Periods 0,00 0,00F. Taxes Payable & Other Fiscal Liabilities 344,89 767,15 ii. Expense Accruals

i. Taxes & Fund Payable 344,89 767,15 G. Other Long Term Liabilities 0,00 0,00ii. Social Security Withholdings Payable i. VAT Deferred to Following Yearsiii. Overdue, Differed or Restructured Taxes & Other Fiscal Liabilities ii. Installation Participationiv. Other Fiscal Liabilities Payable iii. Other Long Term Liabilities

G. Provision for Liabilities & Expenses 0,00 0,00 3. SHAREHOLDERS EQUITY 339.535,05 366.377,18i. Provisions for Income Taxes & Legal Liabilities on Profit A. Paid-in Capital 288.134,26 339.535,05ii. Prepaid Income Taxes & Other Legal Liabilities on Profit i. Capital 111.006,27 111.006,27iii. Provision for Termination Indemnities ii. Inflaition Adjustment 177.127,99 228.528,78iv. Provisions for Other Liabilities & Expenses B. Capital Reserves 0,00 0,00

H. Income & Expense Accruals (future months) 0,00 0,00 i. Share Premium i. Income Relating to Future Months ii. Share Premium of Cancelled Shares ii. Expense Accruals iii. Revaluation Fund of Tangible Fixed Assets

I. Other Short Term Liabilities 0,00 0,00 iv. Revaluation of Investments i. Other VAT v. Other Capital Reserves ii. Head Office & Branch Current Accounts C. Reserves from Profits 0,00 0,00iii. Inventory Overages i. Legal Reserves iv. Other Short Term Liabilities ii. Statutory Reserves

iii. Extraordinary Reserves iv. Other Reserves v. Special Funds

D. Retained Earnings 0,00 0,00E. Accumulated Deficit (-) 0,00 0,00F. Net Income (Loss) for the Period 51.400,79 26.842,13

348.175,70 378.036,53

0,00 0,00

TOTAL LIABILITIES

BALANCENOTE: All Values in Turkish Liras (TL)

IWI OrganisationSummarised Balance Sheet

LIABILITIES





6.2 LALE Detailed Summarized Balance Sheet

6.2.1 Assets

12.31.2016 12.31.2017 12.31.2016 12.31.20171. CURRENT ASSETS 76.600,96 79.710,39 2. LONG TERM ASSETS 12.220,00 10.760,00

A. Liquid Assets (Net) 36.688,89 25.632,88 A. Trade Receivables (Net) 0,00 0,00i. Cash 9,74 9,74 i. Customersii. Cheques Received ii. Notes Receivablesiii. Banks 36.679,15 25.623,14 iii. Rediscount on Notes Receivables (-)iv. Cheques Given & Payment Orders (-) iv. Deposits & Guarantees Givenv. Other Liquid Assets v. Provision for Doubtful Trade Receivables (-)

B. Marketable Securities (Net) 0,00 0,00 B. Other Receivables (Net) 0,00 0,00i. Share Certificates i. Due from Shareholdersii. Overnight ii. Due from Affiliatesiii. Public Sector Bonds & Notes iii. Due from Subsidiariesiv. Other Marketable Securities iv. Due from Personnelv. Provision for Decrease in Value of Marketable Securities (-) v. Other Receivables

C. Trade Receivables (Net) 15.448,73 36.215,84 vi. Rediscount on Other Notes Receivables (-)i. Debtors 15.448,73 36.215,84 vii. Provision for Other Doubtful Trade Receivables (-)ii. Other Debtors C. Financial Fixed Assets 0,00 0,00iii. Rediscount on Notes Receivables (-) i. Long Term Securitiesiv. Deposits & Guarantees Given ii. Decrease in Value of Securities (-)v. Other Trade Receivables iii. Affiliatesvi. Doubtful Receivables iv. Capital Commitments for Affiliates (-)vii. Provision for Doubtful Trade Receivables (-) v. Decrease in Value of Affiliates Shares (-)

D. Other Receivables (Net) 0,00 864,31 vi. Subsidiariesi. Due from Shareholders vii. Capital Commitments for Subsidiaries (-)ii. Due from Affiliates viii. Decrease in Value of Subsidiaries Shares (-)iii. Due from Subsidiaries ix. Other Financial Fixed Assetsiv. Due from Personnel x. Decrease in Value of Other Financial Fixed Assets (-)v. Other Receivables 864,31 D. Tangible Fixed Assets (Net) 0,00 0,00vi. Rediscount on Other Notes Receivables (-) i. Landvii. Other Doubtful Receivables ii. Land Improvementsviii. Provision for Other Doubtful Trade Receivables (-) iii. Buildings

E. Inventories (Net) 0,00 0,00 iv. Plant, Machinery & Equipmenti. Raw Material & Supplies v. Motor Vehicles

ii. Semi-finished Goods in Production vi. Furniture & Fixtures 170,11 170,11iii. Finished Goods vii. Other Tangible Fixed Assetsiv. Trade Goods viii. Accumulated Depreciation (-) -170,11 -170,11v. Other Inventories ix. Construction In Progress vi. Provision for Inventories (-) x. Advances Givenvii. Advances Given for Purchases E. Intangible Assets (Net) 0,00 0,00

F. Contract Progress Costs 0,00 0,00 i. Rightsi. Contract Progress Costs ii. Goodwillii. Advances Given to Sub-Contractors iii. Establishment & Formation Expenses

G. Prepaid Expenses & Income Accruals 0,00 0,00 iv. Research & Development Expensesi. Prepaid Expenses for Future Periods v. Special Costii. Income Accruals vi. Other Intangible Fixed Assets

H. Other Current Assets (Net) 24.463,34 16.997,36 vii. Accumulated Amortization (-) i. Differed VAT 23.855,95 16.389,97 viii. Advances to Suppliers ii. Deductible VAT F. Assets Subject to Amortization (Net) 0,00 0,00iii. Other VAT i. Exploration/Research Expensesiv. Prepaid Taxes & Funds 607,39 607,39 ii. Preparation & Development Expensesv. Work Advances iii. Other Amortizable Assets

vi. Advances to Personnel iv. Accumulated Amortization (-) vii. Inventory Shortages v. Advances to Suppliers viii. Other Current Assets G. Prepaid Expenses & Accrued Income 12.220,00 10.760,00ix. Provision for Other Current Assets (-) i. Prepaid Expenses for Future Periods 12.220,00 10.760,00

ii. Income Accruals 0,00H. Other Fixed Assets (Net) 0,00 0,00

i. Deductible VAT in Future Yearsii. Other VATiii. Inventories (Future Needs)iv. Inventories & Tangible Fixed Assets to be Soldv. Prepaid Expenses & Fundsvi. Other Fixed Assetsvii. Decrease in Value of Stocks (-)viii. Accumulated Depreciation (-)

TOTAL ASSETS 88.820,96 90.470,39

ASSESTS

Lale MagazineSummarised Balance Sheet






6.2.2 Liabilities

12.31.2016 12.31.2017 12.31.2016 12.31.20171. SHORT TERM LIABILITIES 55.511,04 49.837,25 2. LONG TERM LIABILITIES 0,00 0,00

A. Financial Liabilities (Net) 0,00 0,00 A. Financial Liabilities (Net) 0,00 0,00i. Bank Loans 0,00 0,00 i. Bank Loansii. Current Maturities of Long Term Credits & Accrued Interest ii. Bonds Issuediii. Current Maturities of Bonds & Accrued Interest iii. Other Securities Issuediv. Bonds & Notes Issued iv. Value Difference of Securities Issued (-)v. Other Securities Issued v. Other Financial Liabilitiesvi. Value Difference of Securities Issued (-) B. Trade Payables (Net) 0,00 0,00vii. Other Financial Liabilities i. Suppliers

B. Trade Payables (Net) 756,02 6,02 ii. Notes Payablesi. Domestic Services Creditors 756,02 6,02 iii. Rediscount on Notes Payables (-)iii. Foreign Creditors iv. Deposits & Guarantees Receivediv. Rediscount on Notes Payables (-) v. Other Trade Payablesv. Deposits & Guarantees Received C. Other Liabilities (Net) 0,00 0,00vi. Other Trade Payables i. Due to Shareholdersvii. Intercompany Payables ii. Due to Affiliates

C. Other Liabilities (Net) 52.403,27 47.075,32 iii. Due to Subsidiariesi. Due to Shareholders iv. Other Payablesii. Due to Affiliates v. Rediscount on Other Notes Receivables (-)iii. Due to Subsidiaries vi. Depts to The Public Sector, Deferred or Payable by Installmentsiv. Due to Personnel D. Advances Received 0,00 0,00v. Other Liabilities (NOTE: Cash assistance from IWI) 52.403,27 47.075,32 E. Provisions for Liabilities & Expenses 0,00 0,00vi. Rediscount on Other Notes Receivables (-) i. Provision for Termination Indemnities

D. Advances Received (Net) 767,00 0,00 ii. Provisions for Other Liabilities & Expenses i. Advances received order 767,00 F. Income Relating to Future Periods & Expense Accruals 0,00 0,00

E. Contract Progress Income 0,00 0,00 i. Income Relating to Future Periodsi. Contract Progress Income ii. Expense Accruals

F. Taxes Payable & Other Fiscal Liabilities 303,06 2.755,91 G. Other Long Term Liabilities 0,00 0,00i. Taxes & Fund Payable 303,06 2.755,91 i. VAT Deferred to Following Yearsii. Social Security Withholdings Payable ii. Installation Participationiii. Overdue, Differed or Restructured Taxes & Other Fiscal Liabilities iii. Other Long Term Liabilitiesiv. Other Fiscal Liabilities Payable 3. SHAREHOLDERS EQUITY 33.309,92 40.633,14

G. Provision for Liabilities & Expenses 1.281,69 0,00 A. Paid-in Capital 5.344,45 5.344,45i. Provisions for Income Taxes & Legal Liabilities on Profit 7.230,57 7.707,43 i. Capital 5.000,00 5.000,00ii. Prepaid Income Taxes & Other Legal Liabilities on Profit -5.948,88 -7.707,43 ii. Inflaition Adjustment 344,45 344,45iii. Provision for Termination Indemnities B. Capital Reserves 0,00 0,00iv. Provisions for Other Liabilities & Expenses i. Share Premium

H. Income & Expense Accruals (future months) 0,00 0,00 ii. Share Premium of Cancelled Shares i. Income Relating to Future Months iii. Revaluation Fund of Tangible Fixed Assets ii. Expense Accruals iv. Revaluation of Investments

I. Other Short Term Liabilities 0,00 0,00 v. Other Capital Reserves i. Other VAT C. Reserves from Profits 0,00 0,00ii. Head Office & Branch Current Accounts i. Legal Reserves iii. Inventory Overages ii. Statutory Reserves iv. Other Short Term Liabilities iii. Extraordinary Reserves

iv. Other Reserves v. Special Funds

D. Retained Earnings 68.371,07 97.275,93E. Accumulated Deficit (-) -69.310,46 -69.310,46F. Net Income (Loss) for the Period 28.904,86 7.323,22

88.820,96 90.470,39

0,00 0,00

TOTAL LIABILITIES

BALANCENOTE: All Values in Turkish Liras (TL)

Lale MagazineSummarised Balance Sheet

LIABILITIES





6.3 LALE P&L Statement

2015 2016 2017A. GROSS SALES 98.773,10 111.793,08 125.432,44

i. Domestic Sales 98.773,10 111.793,08 125.432,44ii. International Sales 0,00 0,00

B. SALES DEDUCTIONS (-) 0,00 0,00 -4.500,96i. Sales Returns (-) 0,00 0,00 -4.500,96ii. Other Discounts (-) 0,00 0,00

D. COST OF SALES (-) -52.603,00 -58.891,00 -59.900,00i. Cost of Production of Services (-) -52.603,00 -58.891,00 -59.900,00

GROSS PROFIT OR (LOSS) 46.170,10 52.902,08 61.031,48E. OPERATING EXPENSES (-) -22.578,85 -18.470,36 -23.445,59

i. General Administration Expenses (-) -22.578,85 -18.470,36 -23.445,59OPERATING PROFIT OR (LOSS) 23.591,25 34.431,72 37.585,89F. INCOME & PROFIT FROM OTHER OPERATIONS 1.075,39 1.905,10 1.318,81

vi. Repo Incomevii. Profit From Foreign Currency Exchange 1.075,39 1.905,10 1.073,86ix. Other Income And Profit 244,95x. Interest Income

G. EXPENSES & LOSSES FROM OTHER OPERATIONS (-) -1.119,44 -201,39 -367,55i. Commission Expenses (-)iv. Loss From Currency Exchange (-) -1.119,44 -201,39 -367,55vii. Other Ordinary Expenses And Losses (-)

ORDINARY PROFIT OR ( LOSS ) 23.547,20 36.135,43 38.537,15J. EXTRAORDINARY EXPENSES AND LOSSES (-)1 0,00 0,00 -23.506,50

i. Finance Expenses (-)ii. Other Extraordinary Expenses and Losses (-) -23.506,50

K. EXTRAORDINARY INCOME AND PROFIT 247,98 0,00 0,00i. Extraordinary Income 247,98 0,00 0,00

LOSS OR (PROFIT) FOR THE PERIOD 23.795,18 36.135,43 15.030,65TAX PROVISION 600,05 7.230,57 7.707,43NET LOSS OR (PROFIT) FOR THE PERIOD 23.195,13 28.904,86 7.323,22

CORPORATE TAX CALCULATION 23.795,18 36.135,43 15.030,65NON DEDUCTIBLE 604,26 17,40 23.506,50TAX BASE 36.152,83 38.537,15CORPORATE TAX 7.230,57 7.707,43CORPORATE TAX PAID AS ADVANCE -5.948,88 -5.424,10CORPORATE TAX TO BE PAID (LAST PERIOD) 1.281,69 2.283,33

IWI Lale Magazine

(01.01.2015-31.12.2015 / 01.01.2016-31.12.2016 / 01.01.2017-31.12.2017)

Profit & Loss Statement

1. 2017 'Other Extraordinary Expenses and Losses' was a result of the cybercrime fraud on 27.09.2017.


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