Nicolás Fund for Education: Financial Transparency and Accountability

Joshua Rystedt Blog, Financial Transparency and Accountability Leave a Comment

Thank you to our donors who are helping Ixil youth to realize their educational dreams! This month, we would like to walk you through how each dollar you donate is spent. For each dollar that you donate:   Nicolas Fund for Education is definitely a “no frills” operation. Our National Director, Ivan España, administers our NFE programs in Guatemala. Our “US Administrative expenses” include our virtual assistant, donor management software, Constant Contact, website, insurance, office supplies and marketing tools such as posters and mailings. We have one part-time “virtual assistant” who is an independent contractor to help coordinate NFE Board activities and assist with communications. The costs associated with our virtual assistant contractor are covered by a private donor, and we are very grateful for this help. We have no NFE employees in the United States. The “Distance Learning Program” refers to Juanita’s and VH1 programs through Instituto Superior de Educación a Distancia. ISEA meets Guatemalan Ministry of Education criteria and standards.  The village tutoring program, however, was created by NFE specifically to better prepare students before they begin 7th grade. Our fundraising costs are far, far below the average for a nonprofit because of our faithful donors and volunteers. This allows our fundraising to be highly efficient so that the least amount of money can be spent to receive a donation. Typically, nonprofits spend about 25-30% of funds raised on the fundraising process itself, according to Charity Navigator.  NFE spends only 2%, thanks to our dedicated team of volunteers who bake, set up and take down our event and the hospitality of both Evergreen Covenant Church and Bellevue Presbyterian for our fundraiser. Our volunteers really help us devote every …