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Financial Data
 

Financial Data and Accountability


Financial data

The Russian Children’s Welfare Society is a public charity exempt from income, gift, and estate taxes under section 501©(3) of the Internal Revenue Code. Its federal tax identification number is 13–5562332.

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.


Accountability

RCWS has put in place a thorough system of checks and balances to make sure that 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 a 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 regularly visits grantee organizations to check up on the Society's projects

  • RCWS representatives in Russia, as well as RCWS Board members periodically visit

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