09. Financial Reporting & Transparency
1. internal financial & operations reporting
results of income & expense - year 2016
Income - Donations in cash ( $ 4,500) + Donations in materials ( $ 25,000) + Donations of food to distribute for ministries purpose ( $ 10,000) = $ 39,500 ( Total Income)
Expense - Ministries operating cost ( $ 20,000) + Distribution of materials for ministries purpose ( $ 25,000) + Value of food and supplies used for ministries ( $ 10,000) = $ 55,000 ( Total Income)
Number of volunteers & Hours ( 2 Full time, 4 Part-time, 40 volunteers) & Total mam hours dedicated to ministries = 8,600 Hours/Year
Expense - Ministries operating cost ( $ 20,000) + Distribution of materials for ministries purpose ( $ 25,000) + Value of food and supplies used for ministries ( $ 10,000) = $ 55,000 ( Total Income)
Number of volunteers & Hours ( 2 Full time, 4 Part-time, 40 volunteers) & Total mam hours dedicated to ministries = 8,600 Hours/Year
Forecasted results of income & expenses - year 2017
Income - Donations in cash ( $ 6,500) + Donations in materials ( $ 22,000) + Donations of food to distribute for ministries purpose ( $ 15,000) = $ 43,500 ( Total Income)
Expense - Ministries operating cost ( $ 18,000) + Distribution of materials for ministries purpose ( $ 22,000) + Value of food and supplies used for ministries ( $ 15,000) = $ 55,000 ( Total Expenses)
Number of volunteers & Hours ( 2 Full time, 6 Part-time, 100 volunteers) & Total mam hours dedicated to ministries = 17,000 Hours/Year
2. Our financial policies & Transparency
- All full time staff of ministries are bi-vocationals where each holds job or engage other profitable activities that no salaries or absolutely no other form of compensation are paid to. Part-time or volunteers obviously abide to the same policies
- Therefore 100 % of donations go to the capital account, operating costs or to fund for the mercies mission of people who were serving
- We have a Board of Directors who will perform oversight functions over the financial integrity.
- We plan to have our financial records reviewed by outside independent CPA and publish to our website effective for the period beginning January 1, 2017 ( Our fiscal year ending is Dec 31). Additionally we are filing IRS Form 990 or 990-EZ ( Return of Organization Exempt From Income Tax) even not yet required