EKARI uses a system of financial accountability in Africa and the U.S. that ensures high-levels of transparency.
Financial Accountability in U.S.
EKARI’s U.S. Board of Directors reviews a monthly finance report and balance sheet. Funds are wired from our U.S. bank account to our Malawi bank account quarterly.
Financial Accountability in Africa (Malawi)
EKARI’s In-Country Director oversees all finances in Malawi. In order for funds to be withdrawn from our Malawi bank account, signatures are required from our In-Country Director and a Malawi board member. A receipt or signature must accompany all expenses for proper tracking purposes.
Our Executive Director reviews a finance report and receipts from Malawi monthly in order to confirm that the finance report balances with our Malawi bank account. The report must balance prior to each quarterly wire transfer.
To guarantee financial accountability (that 100% of funds are accounted for and spent accordingly) our Malawi team handles all program payments; cash is NOT given directly to our beneficiaries, with the exception of transport funds.
Although often thought of negatively, overhead is invaluable to the success and sustainability of a nonprofit organization. Without people to develop and run programs, the programs would not exist. While it is important to understand an organization’s overhead rate, it is equally if not more important to understand an organization’s effectiveness rate and how the two go hand in hand.
Learn more about our Effectiveness Rate
EKARI U.S. Form 990
EKARI Annual Report and Financial Statement