Jamaican Charities

Treasure Beach Forum: TB Runnin's: Jamaican Charities
Top of pagePrevious messageNext messageBottom of page Link to this message  By Nonprofit Questions on Friday, March 06, 2009 - 07:59 am: Edit Post

Are there laws or rulings in Jamaica that require charities to disclose the amount and source of their income and the amounts of their disbursements - and to whom these payments are made? If so, where does one find this information?


Top of pagePrevious messageNext messageBottom of page Link to this message  By Non Profit Foundation Employee US on Friday, March 06, 2009 - 03:29 pm: Edit Post

I would like to know this also. Some have said BREDS is not transparent, but there may be no rulings in Jamaica requiring it to do this.

On their Web site they indicate they were recently registered in the United States, making donations from USA tax deductible. I can find no record of this in searching US charitable organizations. I do know if they are registered in the US their figures must be posted.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Like 2 Know 2 on Friday, March 06, 2009 - 08:13 pm: Edit Post

I don't think BREDS is registered in the US. Their Web site is way out of date. Maybe they once were.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Fiscal Responsibility on Saturday, March 07, 2009 - 12:08 pm: Edit Post

I am on the Board of Directors of a nonprofit foundation in the U.S. I am not the Treasurer. In the U.S., if there is ONE CENT not accounted for at a nonprofit foundation, I and EVERY other Director can get in extremely serious trouble. It would stand to reason the same or similar laws exist in Jamaica.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Nonprofit Questions on Monday, March 09, 2009 - 07:56 am: Edit Post

If someone would suggest the resources I could use, I would be fine with doing this research myself. On the other hand, if there is a reader who is either an accountant or bookkeeper who who provide the answers, I would be quite appreciative.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Robert on Monday, March 09, 2009 - 05:53 pm: Edit Post

Miss Kennedy from Treasure Beach Foundation may know the answer.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Karen Kennedy on Tuesday, March 10, 2009 - 05:53 pm: Edit Post

I wish I knew the answer for Jamaican non-profits, but I do not.

U.S. non-profits receive their non-profit status after filing forms with the U.S. Government. (The process is neither easy nor fast.)

All U.S. non-profits are listed in several easy-to-access databases.

U.S. non-profits with contributions in excess of $25,000/year are required to file a Form 990. In essence, this is a Balance Sheet and a Profit & Loss Statement. This shows from where contributions came -- and how they were used, down to the penny. Even if a non-profit has revenues lower than $25,000, they must keep exceedingly accurate records. We use a bookkeeper in Jamaica, another bookkeeper in the U.S., and an accountant in the U.S.

Unfortunately, there are many abuses regarding non-profits. Some of the most common ones are paying the directors and/or managers in excess of what is reasonable and customary, and not being totally fair in distributing funds. To be certain we are never accused of such practices, none of our Directors or Advisors is paid one cent. Also, all our decisions on spending money (primarily for the scholarship program and for hurricane relief) are made only after written approval by the Board of Directors or those appointed by them.