Activities – How the Foundation Spends its Funds
VEReF responsibly spends its funds to foster transparency, efficiency, and effectiveness, thereby winning the admiration of donor partners, philanthropists, and volunteers. At least 80% of all donor funds are allocated to direct project implementation. By adhering to the under-listed principles, VEReF ensures that its expenditures not only achieve desired outcomes in its service domains but also build a solid reputation of accountability and efficacy amongst its partners, collaborators, constituents, and other stakeholders.
- Transparent Budgeting and Reporting: Implement clear, detailed budgeting processes where every dollar is allocated specifically to one of the operational areas like WASH or Total Quality Education. Use software tools to track expenditures in real time and generate comprehensive financial reports. Regularly publish these financial statements on the VEReF’s website and distribute them in donor newsletters to maintain transparency and build trust.
- Impact Assessments: Conduct periodic impact assessments to evaluate the effectiveness of projects and initiatives. This involves setting baseline indicators at the beginning of each project and measuring against them post-implementation. Share these findings with stakeholders through impact reports and infographics that highlight success stories and areas for improvement.
- Engage Stakeholders in Decision Making: Involve donors and volunteers in funding decisions by hosting forums or using digital platforms for suggestions on project implementation. This inclusivity not only enhances transparency but also increases stakeholder attachment to the cause.
- Focused Interventions on Core Areas: Allocate funds to core operational areas with proven track records of impact. For instance, investing in scalable WASH projects or innovative education, health and nutrition techniques that offer measurable improvements in community wellbeing. Prioritise projects based on urgency and effectiveness, determined through community feedback and preliminary studies.
- Capacity Building: Invest in internal capacity building to improve organisational efficiency. Training staff, upgrading technology, and optimising operations are essential to reduce overheads and direct a maximum amount of funds toward mission-critical activities.
- Partnerships and Collaborations: Form strategic partnerships with local governments, other NGOs, and private sectors to co-create, co-fund, or support projects. This not only stretches the value of each dollar spent but also leverages additional expertise and resources.
- Regular Updates and Engagements: Keep donors and volunteers continuously informed through regular updates via emails, social media, and the VEReF’s website. Celebrate milestones and acknowledge contributions, which enhances engagement and sustains interest.
Funding
For the financial year ending 31 December 2023, total income was US$ 575,141 of which donor funding was US$ 574,525.
People
12 Employees
6 Volunteers
9 Trustees
Employees with total benefits over £60,000
Fundraising
This charity raises funds from the public but does not work with professional fundraisers or commercial participators.
Trading
This charity does not have any trading subsidiaries.
Trustee payments