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Financial Data and Accountability


Financial data

Through the Society's prudent investments and frugal financial practices, we are able to channel 100% of our donations to help sick and needy children with overhead being met in its entirety through internal sources.

During the 2007-2008, the Society disbursed approximately $2 million in direct aid to children in Russia by supporting orphanages, homeless shelters, hospitals, rehabilitation centers for disabled children and schools.

In 1990, the Society received a $4.5 million bequest from the estate of John Engalitcheff, Jr.


Accountability

RCWS has put in place a thorough system of checks and balances to make sure grants are used for their intended purpose:

  • Organizations must provide a complete application detailing the project for which they are seeking support as well as a budget

  • RCWS issues an official agreement stating the dollar amount of the grant and how it is to be spent

  • Russian banks will not authorize release of funds without such an agreement and require invoices from grantee organizations that match items and services designated in the agreement

  • The Director of our Moscow office visits grantee organizations to check up on the society's projects

  • RCWS representatives in Russia, as well as RCWS Board members make periodic visits

  • Organizations are required to submit mid year and final reports detail expenditures and overall achievements

 

  

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