Financial Accountability
IOCC has an outstanding record of stewardship. When you give to IOCC, you can give confidently knowing that IOCC is committed to maintaining low administrative costs so that more funds can go directly to helping people in need. Approximately 92% of IOCC’s resources are spent on humanitarian relief and development programs with only 8% for fundraising and administrative costs.
In order for our finances to meet the highest standards of accountability, efficiency and effectiveness, IOCC maintains these controls:
- External independent audits annually of the entire organization (including its field offices) by McGladrey & Pullen
- Periodic donor audits (such as by the European Union and US government agencies)
- All financial reports (government, agency, private, internal) are accurate and submitted by established deadlines
- Periodic internal reviews of field offices
- Careful oversight by IOCC Board of Directors Audit and Finance Committees
IOCC’s Tax Exempt Status
IOCC is registered as a tax exempt 501(c)(3) charity with the Internal Revenue Service. It has received recognition from both the Combined Federal Campaign (our code: CFC#12081) and the United Way for inclusion in their yearly fundraising campaigns.
How IOCC Efficiently and Effectively Invests Your Philanthropic Contributions
Every dollar you give helps IOCC secure $7 of support from governments, foundations, ecumenical organizations and other funding sources, multiplying the impact of your contributions.*
*(All figures taken from audited financial statements and reflect data through December 31, 2010)
How Does IOCC Work?
All programs are guided by the two goals of integrity of projects and highest standards of stewardship to donors.
IOCC will identify priority needs in a country, in consultation with Church and other authorities, and develop clear program goals.
IOCC will, by preference, work through Orthodox Christian Churches and groups present in a given country. IOCC will help establish a local organization where it is needed.
Projects will be carefully supervised. No funds will be disbursed without written agreements between IOCC and our counterpart regarding project plans, financial management and reporting.
Wherever it is deemed necessary, IOCC will open representative offices.
All programs will be evaluated and audited.
To fulfill its long-term commitment to alleviate poverty, IOCC will rely on:
- All member Churches of SCOBA: Annual contributions will be encouraged to support the administration of IOCC.
- Dioceses and other organizations affiliated with SCOBA Churches: Fundraising activities will be coordinated on a regional basis.
- Individual donors: Appeals will be initiated encouraging bequests, donations, gifts of stocks and annuities.
To sustain this long-term commitment by IOCC to its humanitarian programs, we urge donors to commit themselves to multi-year donations, and will further enhance these commitments with:
- Proposals to the U.S. Government for funding and grants.
- Requests to foundations to support specific projects.
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