22October2014

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You are here: Home About Us Financials
Financial

Financial

International Children’s Network takes its financial policies seriously. Our leadership team is so confident in our highly integrous financial practices that we hold it as International Children’s Network policy to publish our IRS tax documents and any other pertinent information on our website.

Each ICN Board Member and Leader will be reviewed annually on their affectiveness regarding goals and actual accomplishments: ICN requires that its Board Members in January review and access the organization’s performance and effectiveness of goals vs. actual accomplishments. In addition the Board Members of ICN will determine any future actions required to achieve its mission
The Program Service Expense Ratio of ICN was over 90% regarding program expense vs. Administration expense. The goal of ICN is to always have the highest possible ratio. At the same time ICN will determine the effectiveness of its ratio by determining each year what is best for its children
All 990 reports are published in full online on the ICN WEBSITE for each year. Outside CPA Accountant will oversee the entire financial accountability process and audit the financial records according to USA auditing standards each year with an outside auditor to audit the finances of ICN every five (5) years. ICN always makes available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles by outside, 3rd Party accountants.
ICN Board must approve annual budget for each current fiscal year. Each budget must include the following: Budget for sponsorship Must be equal or less than prior year per partnering location unless ICN Board approves otherwise Budget for Matsiko Annual budget must be equal or less than prior year expenses unless ICN Board approves otherwise
Upon request an annual report is available to all including: ICN’s Mission Statement “ICN works to provide educational sponsorships and opportunities for as many of our world’s 600 million orphaned and at-risk children through their nation’s university or vocational levels in order to provide individual empowerment, independence and opportunity” Summary of past years’ service accomplishments upon request including over view of the following:
Very few similar organizations have as high a giving ratio as International Children’s Network. We are well aware that as the network continues to grow, we will need to be ready to hire additional staff. Because of this reality, International Children’s Network has bound itself to a giving rate no less that 93% for its sponsorship program. This program supports children as they pursue their education and sets money aside in a personal college savings money market account for these identified children. Every dollar must be maximized to its greatest potential. We owe it to our sponsors and the children around the world to work tirelessly and continue to raise the level of trust we share with our sponsors and partners. It is of paramount importance to International Children’s Network that we handle every dollar with the utmost care, concern, and integrity.

Additional Info

 

goldstar

 

International Children's Network (ICN) has been a member of honor with GuideStar since 2002.
GuideStar is the nonprofit organization watch dog/ approval service for USA Fortune 500 Companies.
This organization has earned the GuideStar Exchange Seal, demonstrating its commitment to transparency

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