The Aid and Education Project, Inc.
Financial Safeguards and Controls
The Aid and Education Project, Inc. employs the following safeguards and controls to assure donors and potential donors that all funds go for the intended purposes.
· All books and records are maintained according to U.S. standards.
· Accountant in Guatemala is essentially independent of other personnel in Guatemala and reports directly to management in the U.S.
· Detailed monthly reports are prepared that show expenditures by student, category of expense, or by disbursement.
· The organization retains original receipts for virtually every expenditure.
· If money is given directly to a family or student, the recipient must turn in an original receipt to show that the money was used as intended.
· Project directors in Guatemala are long-term residents of their communities and know where need is real.
· Management from the U.S. often visits and communicates with families in Guatemala and verifies that the project is providing for them as intended.
· Directors of the organization pay overhead so that funds go directly to beneficiaries in Guatemala. (Overhead is defined as all US expenses, including travel and conferences, office space, equipment, supplies, communications, legal, accounting and fundraising costs.)
The Aid and Education Project, Inc. 14 Zander Lane Randolph, New Jersey 07869 U.S.A. Office: 973-366-3119 Cell: 973-769-9827