AUDITED FINANCIAL REPORTS
ZOE Foundation Australia has engaged an Independent Accounting firm to conduct an audit to ensure that we follow best practices. Click on the links below to download our Audited Financial Reports.
ZOE Foundation Australia is a not-for-profit, non-government organisation and depends entirely on the generous donations of individuals and businesses. We will strive to honour the desire of the donor but ZFA reserves the right, if necessary, to redirect the funds to the area of greatest need. ZOE Foundation Australia continually strives to keep administration costs, in Australia, to an absolute minimum.
ZFA raises funds from the public, corporate donors and government agencies. ZFA activities are not carried on for the purpose of profit or gain to its individual members. The assets and income of the ZFA are applied solely in furtherance of the ZFA objects and purposes and no
portion shall be paid, distributed or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to any Members of the Company, and no fees shall be paid to Directors.
ZFA at all times strive to honour the desire of the donor. The treatment of designated funds is done in accordance with the guidelines below.
- ZFA accepts funds designated towards:
- Area of Greatest Need
- Trafficking Education
- Special Projects
- Field workers
- This website provides information about each area. All designated income is tracked through accounting software.
- In situations where ZFA seeks to fund any of the areas mentioned in item 1, yet the area fund balance is insufficient, the ZFA board will supplement the designated fund with donations derived from Area of Greatest Need.
- ZFA functions in a dynamic environment where from time to time an urgent Project need may arise. For this reason the ZFA board reserves the right to allocate contributions to the ‘Area of Greatest Need.’ As stated on this website; ‘We will strive to honour the desire of the donor but ZFA reserves the right, if necessary, to redirect the funds to the area of greatest need.’
- When residual Approved Project / Designated Funds remain (due to factors such as foreign exchange rate gains, unique market opportunities or product discounts, etc.) excess funds will be used by ZOE for similar projects.
- ZFA may draft a separate funding agreement for large or complex projects to ensure both ZFA and the donor/s have clear expectations regarding the allocation of funds.
- ZFA may include a 20% contingency fee that will be kept in Australia to buffer exchange rate fluctuation and the Foundations costs associated with administering projects.