Thanks to all of your donations, 2017 was packed with plenty of work on the financial and accounting front! When we founded Little Angels, we had two absolute financial requirements:
Maintain 100% transparency around all finances
Ensure 100% of all money donated goes directly to the source
In achieving these two requirements, we are proud to share our most up-to-date financial statements (through March 31, 2018) publicly and proud to state not a single penny of your money donated has been spent on administrative expenses to date. Click the following links to access the financial statements:
Beyond meeting these two fundamental financial requirements, we also want to share a few accomplishments on the financial front.
We were recognized by the IRS as a tax-exempt non-profit in July 2017.
We opened a non-profit bank account with Pioneer Banks in Austin.
We set up online tracking for all our finances in Quickbooks.
We set up an online process for sending tax deduction receipts for all donations.
We set up a process to securely transfer and track funds sent to Little Angels in India.
We raised and transferred $3,750 in donations from June 2017 - September 2017 to provide scholarships to 15 children.
We raised and transferred $5,000 in donations from September 2017 - December 2017 to provide scholarships to 20 children.
We filed our 2017 tax return in March 2018.
With this financial foundation in place, we are ready to take on even bigger goals in 2018. We are grateful for your support, even though without you there would be no extra work to do!