(Last updated: 20 Oct, 2020)
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What are Restricted Donations?
Restricted donations refer to a reserve of money that can only be used for specific projects or charitable purposes.
When a donor makes a donation to Books Beyond Borders, he or she may specify whether their donation is restricted or can be used in any manner the organization sees fit (unrestricted).
By default, all donations made directly to Books Beyond Borders are restricted, unless otherwise specified by the donor with a statement in writing.
All restricted funds are managed in a seperate bank account.
How are Restricted donations spent?
100% of Restricted donations are spent on direct project expenses - including foreign exchange losses, overseas remittance charges (transfer of funds to overseas partners) and project implementation costs incurred by partners.
Restricted donations will not cover travel, food, accomodation, business meetings expenses incurred during overseas field visits.
What are Unrestricted Donations?
Unrestricted donations are funds specified by the donor to be used on any of the organisation's purposes. The funds are used to cover the business operating costs - including salaries, rent, professional services, marketing, overseas field visits, legal and professional fees, website and software and bank fees, etc.
All unrestricted donations are managed in a seperate bank account.
For further clarifications, please write in to firstname.lastname@example.org.