Financial Guidelines
Respect of our Donors:
We place a high value on our donors and the relationship we have with each of them. We pray for our donors and their finances. We would not accept a donation from an individual with knowledge that the donation would cause undo hardship to them or their family. Donors are welcome to ask how the funds of SSI are being spent and what the programs they support are accomplishing.
Board of Directors:
A board, consisting of not less than 5 members, meets quarterly and reviews and approves financial reports at each meeting. Board members are also provided a reviewed financial statement each year. Board members names are made public and provided upon request. All board members serve as volunteers.
Reviewed Financial Statements:
SSI contracts with a certified accounting firm to produce a Reviewed Financial Statement each year. As provided by law, SSI provides Reviewed Financial Statements and/or a copy of the most recent completed IRS form 990 to anyone who requests it, minus donor information.
Internal Controls:
SSI has instituted policies and procedures that require a double accounting of funds that come into the office, so that no one is the sole handler of money. A tracking of funds coming in to the office is compared with official bank statements and financial reports to ensure accuracy.
Conflicts of Interest:
All potentially perceived conflicts of interests are reviewed by the board of directors and disclosed in the minutes.
Truth in Fund-Raising:
It is the commitment of SSI to always maintain accuracy in our communications, and avoid exaggeration and hype. The fantastic results of the SSI programs are shared using quotes and experiences of those being impacted by the program.
Proper Use of Funds:
We take great care to make sure a donor's requests for use of funds is honored. If a donor's communication is unclear, the donor is contacted to ensure proper usage.
Compensation for Fund-Raisers:
We do not pay any consultant or employee a percentage of contributions raised.
Compensation of Board of Directors or Officers:
Members of the board of directors are not compensated, and no one employee benefits from the organization outside of salaries and benefit packages.
Reporting of Gifts:
We always leave it to the responsibility of the donor to claim the value of any gifts, while providing the fair market value of goods and services provided by SSI.
