Annual Review

Around July of each year, we begin the Annual Review of Worthy Causes. The review serves to confirm that you are still operating effectively, following appropriate governance practices, and evaluate how effective the Worthy Cause Program has been for you. 

The Annual Review consists of 3 parts:

  1. Financial Review
  2. Project Review + personal call
  3. Details confirmation 

Financial Review

Beginning with the Financial Review, we request that you send over the Annual Report as well as Audited Financial Statements for the year prior. That means if it’s now July 2020, we request for documents for your financial year ending 2019. 

In the Annual Report, we are looking out for some key pieces of information:

  • A description of your activities in that year
  • What you have planned for the next year
  • Name(s) of your director(s)
  • Signature(s) of your director(s)
  • Date signed

If producing an Annual Report is not required by your local law and you don’t have one, B1G1 also provides a template for a proxy Director’s Report that you can fill in. We understand it is sometimes financially restrictive to produce one and are happy to work together with your circumstance. 

In the Audited Financial Statements, we are looking out for some key pieces of information:

  • Independent Auditor’s report
  • Balance Sheet
  • Profit and Loss 
  • Statements of Activities (expenses, revenue, cash flows etc)
  • 80% or more of expenditure to project costs
  • Clear breakdown of project expenditure

Project Review

After you have passed the Financial Review, the next step will be the Project Review. As it’s name suggests, we’ll be taking a deeper look into each of the projects you currently have on B1G1 and in particular, we’ll consider these aspects:

  • is the project still active?
  • is the project’s description still accurate? 
  • is the project’s additional information still accurate? (for eg you may have said ‘we have helped 1000 people up to the end of 2018’ and figures like this will need to be updated)
  • are the project’s SDGs still accurate? (if the delivery of the program has changed, then perhaps the description and SDG will need to be updated)
  • is the cost breakdown of the project still accurate? (factors such as inflation will change prices each year)
  • is there a new photo that can be used?
  • has the project raised at least $500 in the last year?
  • have all the B1G1 funding in the last year been used and how many impacts has it made?

In this section of the annual review, we will also be arranging a call to confirm these pieces of information verbally and to clarify any questions there may be.

Confirmation

After the project review stage, we’re almost done and all that’s left is to confirm your organization’s status. 

  • General contact person
  • Financial contact person
  • Board members and any changes
  • Tax status and any changes
  • Confirmation that you do not do business with any individual or entity in the US SDN list. 
  • Agree to the Terms and Conditions of the B1G1 Worthy Cause program
  • Fulfilment of program criteria
    • Provided project updates on at least a quarterly basis
    • Replied to communications in at most 7 days
    • Provided a copy of the receipt of funds within 30 days

 

SUCCESS! CONFIRMED FOR ANOTHER YEAR

After these 3 steps, you are officially confirmed for another year as a B1G1 Worthy Cause – congratulations! 

If you have any questions about the Annual Review or other requirements of the Worthy Cause program, please check out our Resource Centre as well as the Terms and Conditions that define our relationship. We are also always available at giving@b1g1.org for any questions or a chat.