1. Introduction

The Kennedy Tare-Otu Foundation is committed to financial transparency, accountability, and ethical stewardship of donor contributions. This policy outlines our approach to ensuring that all donations are managed responsibly and used for their intended purpose.

2. Use of Donations

• Donations will be used exclusively for programs, projects, and operational expenses as outlined in our funding policies.

• Restricted donations (for specific projects) will be allocated according to donor instructions.

• Unrestricted donations will be used based on the foundation's priorities, ensuring maximum impact.

• Administrative costs will be kept within a reasonable percentage of total funds, as per industry standards.

3. Financial Reporting & Accountability

• Annual financial reports will be published on our website and available upon request.

• Quarterly updates will be provided to major donors and stakeholders, detailing fund usage.

• An independent audit will be conducted annually to ensure compliance with financial regulations.

4. Donor Communication & Acknowledgment

• Donors will receive official receipts and confirmation letters for all contributions.

• Regular updates will be provided via newsletters, email reports, and impact stories.

• Major donors may be invited to program site visits to see their contributions in action.

5. Governance & Oversight

• A Finance & Audit Committee will oversee financial management and ensure transparency.

• The foundation will comply with all legal and regulatory requirements governing financial reporting.

• Any concerns or discrepancies in fund management can be reported to our Ethics & Compliance Office for investigation.

6. Privacy & Confidentiality

• Donor information will be handled with strict confidentiality and will not be shared without consent.

• The foundation will follow data protection laws to secure donor records.

7. Fraud Prevention & Whistleblower Policy

• Any suspected misuse of funds will be thoroughly investigated, and corrective actions will be taken.

• Donors and staff can report financial misconduct anonymously through our whistleblower hotline/email.

8. Public Disclosure

• Key financial statements, program reports, and donor impact summaries will be published annually on our website.

• The foundation will provide transparency on fund allocation percentages (e.g., direct program funding vs. operational costs).

9. Policy Review & Updates

• This policy will be reviewed annually by the Board of Directors to ensure it meets evolving best practices.

Effective Date: 01/04/2025
Approved by: Kennedy Tare-Otu and Board.