Financial Accountability Policy

Children’s Light Club International (CLCI) is committed to maintaining the highest standards of financial accountability and transparency in managing the funds entrusted to us by donors, supporters, and partners. This Financial Accountability Policy outlines our principles, procedures, and practices for responsible financial management.

  • CLCI is dedicated to the ethical and prudent use of all financial resources to fulfill our mission of empowering children and making a positive impact on their lives.

  • We are committed to upholding the trust and confidence of our donors and stakeholders by ensuring transparency and accountability in our financial operations

  • Board of Directors: Our Board of Directors is responsible for overseeing CLCI’s financial affairs, including the approval of budgets, financial reports, and major financial decisions.
  • Financial Committee: CLCI may establish a Financial Committee to provide additional oversight and guidance in financial matters.

  • Budgeting: CLCI prepares annual budgets that align with our strategic goals and programs. Budgets are reviewed and approved by the Board of Directors.

  • Accounting: We maintain accurate and complete financial records in accordance with Canadian accounting standards.
  • Financial Reporting: Regular financial reports are prepared and presented to the Board of Directors, donors, and relevant authorities as required.

  • CLCI ensures that funds are used solely for purposes consistent with our mission and objectives.

  • We do not engage in speculative investments or activities that could jeopardize our financial stability.

  • Donor Privacy: CLCI respects donor privacy and complies with all relevant laws and regulations regarding the protection of donor information.

  • Transparency: We provide donors with clear and accurate information about our programs, financial needs, and the impact of their contributions.

  • Annual Audit:

    CLCI conducts an annual financial audit by an independent certified public accountant to ensure the accuracy and integrity of our financial statements.

  • External Review: We may engage external experts to conduct periodic reviews of our financial practices for additional assurance.

CLCI complies with all applicable laws and regulations related to nonprofit organizations, charitable activities, and taxation in Canada.

CLCI maintains the confidentiality and security of all financial and donor information in accordance with data protection laws and industry best practices.

This Financial Accountability Policy will be reviewed periodically and updated as necessary to reflect changes in legal requirements or best practices.

If you have questions or concerns regarding CLCI’s financial accountability, please contact:

Children’s Light Club International (CLCI)

info@childrenslightclub.org

+1(647) 425 3644