Accountability & Safety
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Financial Accountability Statement
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Covenant Mercies is committed to excellence, transparency, and accountability in all our operations. We believe we have a responsibility to God, the children we serve, and our donors to be faithful stewards of our resources. We are committed to the following practices:
- We are governed by a responsible Board of Directors. The Board meets regularly to review operational results and ministry accomplishments, approve budgets, and to establish required policies and procedures. Our full Board serves as the audit committee and reviews the annual audit.
- Our financial statements are prepared on the modified cash basis. We have an annual audit conducted in accordance with generally accepted auditing standards by an independent accounting firm. Copies of our current audited financial statements are available upon request.
- We seek to conduct our activities according to the highest standards of integrity and to avoid conflicts of interest. All our foreign partners are required to follow policies and procedures in their activities that ensure the proper use of funds. Members of the Covenant Mercies US team also make periodic visits to our program area offices to audit and monitor activities.
Financial Breakdown
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%
of every sponsorship gift is directly invested in the care of your sponsored child
%
is used for overhead
Based on our latest audited financial report, 91% of our overall budget is used for program activities. Only 9% of our budget is used for operating expenses.
Child Safety
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Covenant Mercies is committed to the safety of our sponsored children, and our staff members abide by strict policies and procedures for the wellbeing of each child. We are fully compliant with the child welfare society of each country where we serve, and accountable to local government officers.
Each Covenant Mercies staff member who serves and interacts with children is thoroughly vetted per organizational policy and the national laws of the country where they are employed. Caseworkers also visit sponsored children regularly at home and at school, in order to ensure a healthy and positive living environment.
