It is the Foundation’s responsibility to report back to the supporters and to the public. To ensure full transparency, the Foundation requires the supported organizations to account for the use of the donations.
The Foundation was registered at the Court as a public benefit organization.
According to the provisions of the Act on Accounting:
- the Foundation maintains its accounting records on a double entry basis,
- its Statement of Operations is based on the “total cost” method,
- the form of the Balance sheet is a public benefit report.
The Members of the Board of Trustees, Members of Supervisory Board and Secretary do not receive any compensation for their work. The Foundation is not involved in financial activities.
The goal of the AmCham Foundation is to handle all of the charity donations, to help children between the age of 0 and 16, who are suffering from various types and levels of mental and physical disabilities, or those who live in poor social circumstances.