Our income depends on gifts
At this moment the Foundation is dependant on gifts. We have three types of contributors: child sponsors (€ 850 a year or € 70 per month), members (at least 0,50 euro per day) and other donors. We are in a process of (re)structuring which is intended to make us eligible for partnership with project support organizations.
Expenditure in Holland
All expenses (including those made for fundraising) made within the Netherlands are covered by either our volunteers or the board and we pledge to continue operating in this fashion in the future, irrespective of size or balance totals.
Expenditure in Ghana
In Ghana it works a little bit different. Because people cannot afford to spend time and money without being rewarded. The Foundation employs one person, our National Coordinator. He/She has many tasks; visiting and supporting the kids, checking their progress, correspondence with their parents and general problem solving. He/She also is our main contact person with the various schools where our kids are educated. Most of the money is of course spent on school fees (an estimated 80%). This includes meals during an entire year, lodging and books. Various other costs for basic needs, for example clothing or bed cloths (mattresses) are not always affordable for our Kids and because of that, we have decided to cover them. We encourage the use of computer and internet facilities and pay to have our Kids taught.
Including these types of costs, 95% of our budget can now be directly allocated to a specific SmartKid. It has always been our goal to get that percentage close to 100% and we see the way we spend our funds as part of our legitimacy.