for a non-profit organization, financial accountability is important to our integrity as a ministry,
and we have developed a set of principles and guidelines to guide the way we use the resources God has entrusted to us.
CLUB1040.COM Principles and Guidelines for Financial Accountability
1. All contributions received, regardless of amount, are considered sacred before God and handled in accordance with recognized non-profit legislation and Best Practice guidelines.
2. We prayerfully seek ways be excellent stewards of every penny in order to make the greatest impact for the Kingdom.
3. CLUB1040 adheres to accepted ‘Best Practice’ accounting procedures and conducts an annual audit by an independent, national auditor to maintain strong financial accountability.
4. CLUB1040 provides a tax receipt in accordance with the rules and regulations of the IRS.
5. CLUB1040 will maintain the confidentiality and integrity of our donors at all times.
6. CLUB1040 diligently seeks to pay all our vendors and suppliers within thirty days of receiving an invoice.
7.At the annual meeting of the Board of Directors,the salaries for the President/International Director, National Director and all other paid positions are set by the board and in accordance with independent professional consolation to ensure all CLUB1040 wages are set in keeping with IRS non-profit guidelines.
8. CLUB1040 does not receive any grants or funding from any organization whose mission is contrary to the CLUB1040 tax-exempt purposes.
9. All designated contributions are accounted for separately to ensure their use is in accordance with the intended purpose. However, according to non- profit legislation, all donations are in the sole control of CLUB1040 so that, for example, if gifts exceed the need of a specific project, any extra funds can be re-allocated in keeping with our tax-exempt purpose.