FIFA released its annual financial report today showing a positive result of USD 72 million for the 2013 financial year, with 72 per cent of FIFA’s expenditure being directly invested into football over the same period.
A total of USD 183 million went into funding football development and corporate social responsibility projects, equivalent to more than USD 500,000 per day. As a not-for-profit organisation and in line with its mission to develop the game, touch the world through exciting tournaments, and build a better future through football, FIFA shares as much of its income as possible with the global football community.
Total revenue for 2013 amounted to USD 1,386 million (up from USD 1,166 million in 2012). The lion’s share of the revenue was made up of income from the sale of television rights (USD 601 million) and marketing rights (USD 404 million) for the 2014 FIFA World Cup Brazil™.
Total expenditure amounted to USD 1,314 million (USD 1,077 million in 2012). This amount included USD 757 million for event-related expenses (FIFA organised seven tournaments in 2013), USD 183 million for development projects, and USD 216 million for other operating expenses, of which USD 17 million was for tax payments. The number of employees rose to 452 (from 412 in 2012).
As at 31 December 2013, FIFA’s balance sheet totalled USD 3,165 million, with reserves of USD 1,432 million. The creation of sufficient reserves for the future is of major strategic importance to FIFA, particularly given its high financial dependence on the FIFA World Cup™ and the fact that it is difficult to fully insure an event of such magnitude. This provides global football with stability and confidence, offering a strong foundation from which to flourish.
For the first time, a Governance Report has been published alongside the Financial Report, in order to strengthen the transparency of FIFA’s financial reporting. In particular, the Governance Report contains comprehensive information regarding the organisation’s purpose, management, administration and responsibilities. This will be included as an integral part of the FIFA Financial Report from now on.
The Financial Report also gives details about the increased level of control in the area of development programmes, which has been systematically strengthened and extended over recent years.
At the FIFA Congress in Zurich in 2011, it was decided to engage the renowned international audit company KPMG to audit FIFA’s financial statements for the 2011-2014 financial period. FIFA’s accounting system is based on the International Financial Reporting Standards (IFRS), and both the financial statements and the budget are approved annually by the Congress, with the next Congress due to take place in São Paulo, Brazil, on 10 and 11 June 2014.