Fundraising and Financial Management

The Women’s Initiatives for Gender Justice is funded by a number of different foundations, organisations and donors. The funding is spent on the different country-based activities each year. Funding is occasionally sought for special purposes and projects.

Managing of the funds/capital and reserves

The capital and reserves are held for unexpected and unforeseen circumstances to guaranty the continuity of the organisation. Women’s Initiatives for Gender Justice has a reserve policy. The reserve may only be used for spending if approved by the Board. The capital and reserves can be used when there is deficit in funding, for large strategic events or closure. If there is a shortfall in funding in one year, using the reserves will help Women’s Initiatives for Gender Justice to continue with their activities in a year without any delay.

The expenditures of the funds/capital and reserves

Before the beginning of each year, the Women’s Initiatives for Gender Justice states a budget of the list of activities per country to spend the raised funds. The list of activities is approved by the Board of Directors. Based on the budgeted activities, the Women’s Initiatives for Gender Justice attract funds from different funders. Per each funder, a funding application is submitted by Women’s Initiatives for Gender Justice. In this application, the funder and the Women’s Initiatives for Gender Justice agree how to spend the funds and to what activities funds will be spent on. The funding will be spent in the period which Women’s Initiatives for Gender Justice receives the funding. If there is a surplus in funding in one year, the surplus will be divided on the different country based activities of that same year.
There are funders where the Women’s Initiatives for Gender Justice receives funds for a period more than one year or in installments. The funds are then divided over the period of the agreement between the funder and the Women’s Initiatives for Gender Justice. Every period, Women’s Initiatives for Gender Justice has to send narrative and financial reports to the funders on how the funding was spent. In some cases, the Women’s Initiatives for Gender Justice has to send a signed copy of the annual accounts accompanied the external auditor’s opinion.  The Executive Director is held responsible for the expenditures of the funding. Two times each year, the Executive Director reports to the Board of the Directors: one time to evaluate the Annual Budget of activities, and one time to evaluate the realization of the Annual Budget.