By Dominican Republic law all charities/not for profit organisations have to prepare and file accounts to the 31 December each year. We will shortly be posting on this website the first such formal accounts for Sosua Kids; these are from the date of formal incorporation of the charity 25 November 2009, to 31 December 2009. (All future accounts will be for a calendar year.) They have been signed by a local accountant and forwarded to the tax office (Dirección General de Impuestos Internos) in Puerto Plata.

For operational purposes we work on a school year basis, i.e. from 1 August to 31 July. We start our fund raising for the next academic year on 1 August, that is as soon as we have issued the vouchers for uniforms for the school year about to start. 

All receipts and payments are recorded as they are received or made. Once a month the meeting of the Board of Directors (Junta) receives a list of all donations received and payments made both for the latest month and also cumulative for the academic year to date. This list helps us balance our fund raising events and (where we have the names) keep a track of our donors. Not all donors want publicity, but wherever appropriate we publish names and a thankyou on our web site.

As we get to the end of our fund raising year this monthly statement helps us calculate how many students can be taken off the waiting list and put into school.

Throughout the year as our funds mount up cash is placed in a Certificate of Deposit (CD) to enable the charity to earn the maximum amount of interest on its funds. All bank accounts and CDs require the signature of at least 2 of our directors.

As well as money supporters also bring us in backpacks and school supplies, such as paper, pens and pencils. These are the equivalent of cash to us and are looked after equally as carefully.

If you would like more information please contact info@sosuakids.com.