Financial Accountability Procedures.
When we went to Nigeria on our fact finding mission in February 2009, we asked our Nigerian Partners to set up a bank account into order to receive the funds for the project sent from the USA. We arranged with them for a system of financial accountability, whereby they would send us an estimate of needs such as costs of materials and labor. We would then forward the money to their dedicated bank account in Nigeria. Once they had spent the money forwarded to their account, they would send us photos of the progress and request further funds so that they could move to the next phase.
We opened an account in the name of AEP with our bank in Connecticut to receive donations from US supporters.
This system has worked very well for the last nine years.
At our first fundraising banquet we received pledges amounting to a total of $39,000. These funds were used to make a start on the first phase of the project.
In addition to the pledge drive we also made the needs of the project known as widely as possible through our newsletter, website and word of mouth. These efforts have brought in a steady flow of donations from individuals.
In addition we have approached several small foundations and received grants for specific needs such as textbooks, a copy machine and computers for the school office.