PHONGSAVANH FOUNDATION DONATION POLICY
Our donation philosophy is a simple one.
Operating expenses (including all investments of a capital nature whether depreciated or otherwise and all recurrent expenditure ) are funded out of donations generously made by the Phongsavanh Group, its related corporations or affiliated companies and corporate and private sponsors dedicated to the support of the Phongsavanh Foundation( Founder Benefactors ) into a bank account operated under the name of “Phongsavanh Foundation”.
Phongsavanh Foundation also relies on volunteer services and in-kind donations from management and staff who do not take salaries as well as professionals who donate their time and talent to keep the Foundation’s operating costs to a minimum.
This approach allows the Foundation to free up donations received from other sources for use where it is most needed.
Donations received from any source OTHER THAN the Founder Benefactors ( Donors or Donor, as the context requires) are placed into an account operated by the Foundation under the name ” Phongsavanh Foundation Donation Account ” ( Donation Account). 100% of the donations from the Donation Account are applied towards the objectives of the Foundation found in the REVISED GOVERNANCE STRUCTURE & 5 YEAR PLAN adopted and updated ( Foundation Objects ) OR the purpose or cause specifically stipulated by the Donor which must, nevertheless, be within the Foundation Objects before the same can even be received ( Specially Designated Use ).
There are NO employee salaries to be paid out of the funds held in the Donation Account. The Phongsavanh Foundation will utilise all such donations in their entirety to fund the Foundation Objects or if so specified, the Specially Designated Use, as the case may be.
As such, any Specially Designated Use donations are fully allocated according to the Donor’s wishes. If, however, a Specially Designated Use has already received full funding, then any additional or surplus funds received into the Donation Account will be allocated to a similar project or where needed or refunded to the Donor in question (wholly or partially, depending on how much is left over), but always following consultation with the Donor.
Operating under a 100% donation policy allows Donors peace of mind to know precisely what their donations are being channeled towards or who the intended beneficiaries or class of beneficiaries are to be.
The Phongsavanh Foundation believes that all who are able and willing to, should help those who are in need – in a way that is flexible enough to be both meaningful and purpose-specific. The Foundation exists to live-out a small part of this belief and to make a difference where we can. This Donation Policy has been drafted in accordance with the REVISED GOVERNANCE STRUCTURE & 5 YEAR PLAN, as passed and adopted by the Phongsavanh Foundation’s Board of Governors pursuant to a resolution passed and dated 12th September 2018. You may request to sight the original of these documents at the Foundation’s registered office in Vientiane, Laos PDR.