our financial model and target
All financial donations made are capitalised through investment in ethical assets. The choice of assets to invest in is subject to professional advice. Other material assets donated are valued and appropriately captured in the Foundation's accounts.
All the assets of the Foundation are held in Trust and are not owned by or transferable to any individual(s) or organisation(s) except in the legitimate course of the business/operations/transactions of the Foundation. Consequently, no person(s) or organisation(s) own or may inherit any of the assets of the Foundation.
Except for the first six months of the Foundation, all operational interventions and administrative expenses incurred are funded out of the earned income from investments. Subsequently, all intervention and admin operations of the Foundation are funded from a part of the previous year's earned income, except where specifically required and disclosed.
Specifically, over the next three years, an average of about 10% of the asset base is applied towards operations of the Foundation and is taken out of earned income only at an average rate of 55% of the previous year's earned income per year.
As a policy, payments to be made by the Foundation to suppliers of goods and services and/or to beneficiaries of interventions will only be made through bank transfers, except for minor miscellaneous expenses handled by office petty cash.
Our target is to raise N450 million (about US$300,000.00) to meet our investment and operational targets over the next three years in line with your budget, shown here. As shown, most of the funds raised will remain in income-generating assets to enable perpetual sustainability.
our three-year budget
Attached here is our three-year budget.
Insert the budget here....
Donation
You can donate by making direct transfers to our bank accounts below:
Name: Mahmud El Yakub Foundation, Currency: NGN, Bank: Taj Bank, Account number: 0012564757
Name: Mahmud El Yakub Foundation, Currency: USD, Bank: Taj Bank, Account number: 0012577023
You can also make direct payment using your card.
We request that Donors make their contact available so that we can acknowledge your contributions and provide regular updates on our activities.
