Financial
The way the foundation raises money
The foundation aims to raise this money through: sponsorships, donations, gifts, grants, contribution of activities and fundraising.
Fundraising is done in a small but effective, direct way such as during contacts with relations, both private and business. To actively, maintain the existing contacts with donors, organizations and cooperation partners, in addition to recruiting new contacts/relationships and donors. This can include letters, phone calls, using multimedia and social media. Conducting actions to obtain financial resources. This can be through personal initiatives by people or organizations.
The foundation is non-profit and relies on contributions from others.
Management and utilization of assets
Esengo Foundation is required to keep records. Foundation records must show:
– What amounts were paid (per director) in expense reimbursement and attendance fees, what amounts were spent on raising money and managing the institution. The same applies to all other costs, whatever the nature and size of the institution’s income and assets.
– The funds received, are used for the implementation of the objective of the Foundation.
– At the end of the fiscal year (which runs from January 1 of one year to December 31 of the following year), the treasurer closes the books. From these, the annual documents consisting of, the profit and loss account, the financial statements, the balance sheet, a statement of income and expenses for the relevant fiscal year are prepared. The board reviews and checks the documents and approves the documents by signature and discharges the treasurer. Once approved, a summary will be published on the website.