Policies and procedures to monitor funds overseas
Your donations are used for the utmost benefit of the financially disadvantaged children. iHOPE Inc has robust and strict internal and external money monitoring policies. This include but not limited to the following:
- Every dollar you donate to iHOPE Inc, 90% is used to provide education scholarship to orphans and underprivileged South Sudanese children.
- 10% is used to purchase goods and services for the benefit of the children in school.
- As dictated by the number of scholarship awards and other public and social welfare services, iHOPE Inc estimates to be sending $5000-7000 (AUD) per a year.
- However, as the organisation adds more scholarships here in Australia and overseas, the above estimated amount may change to around $10,000-15,000.
- iHOPE Inc transfers money through its overseas representatives via Western Union or World remit. This money is received in local currencies of Kenya, Uganda and South Sudan respectively. The overseas representatives shall pay the money direct into schools’ bank accounts and obtain receipts which is then sent to iHOPE’s treasurer here in Australia.
- iHOPE Inc also estimates to send $5,000 worth of assets including cameras, phones, computers/laptops, tablets/iPads and stationeries in the next two (2) financial years.
- Please refer to our Accountability and money management via the following link, Accountability and Money management