Financial Policy for The Organisation for Poverty Alleviation and Development (OPAD)
Effective Date: September 21, 2023
1. Allocation of Funds:
a. Projects: 80% of the funds collected for our trust will be allocated towards Projects. These projects aim to directly alleviate poverty and improve the lives of individuals and communities in need.
b. Administrative Costs and Expenses: 20% of the funds collected for our trust will be retained for administrative costs and expenses. This allocation ensures the smooth functioning of OPAD’s operations, including staff salaries, office maintenance, and other necessary expenses. c. Endowment Fund: 100% of the funds collected for our endowment will be directly allocated to our endowment fund. This fund is designed to provide long-term financial stability and support for OPAD’s initiatives.
2. Financial Transparency:
a. OPAD is committed to maintaining financial transparency. We retain all financial and donation records, ensuring accountability and responsible management of funds.
b. Interested parties can access all financial information upon request. We encourage transparency and openness in our financial operations.
c. As a registered charity, OPAD complies with all legal requirements. We file annual taxes with the tax agencies, ensuring compliance with financial regulations.
3. Contact Information:
For any questions or inquiries regarding OPAD’s financial policy or finances, please contact our finance department at finance@opadglobal.org. Our dedicated team will be happy to assist you.
This financial policy is subject to periodic review and may be updated as necessary to ensure alignment with OPAD’s mission and goals.
