Divine Hearts Foundation: Grant and Financial Management Practices and Policies
1. Introduction
This document outlines the Grant and Financial Management Practices and Policies for
Divine Hearts Foundation. Our goal is to ensure effective management of funds and grants,
uphold transparency, and comply with all relevant regulations, maintaining our
commitment to integrity and the public trust.
2. Grant Acquisition and Management
• Research and Application: Staff will proactively identify and apply for grant
opportunities aligned with our mission. Applications will be prepared with thoroughness,
accuracy, and adherence to grantors' guidelines.
• Compliance: All grants will be managed in strict compliance with the conditions set
by funders. This includes using funds exclusively for designated purposes and adhering to
reporting schedules.
• Tracking and Reporting: Grant expenditures and outcomes will be meticulously
tracked using appropriate software. Regular reports will be provided to grantors as
required.
3. Financial Management
• Budgeting: Annual budgets will be prepared, forecasting income and planning
expenditures in alignment with our strategic objectives. Budgets will be reviewed and
approved by the Board of Directors.
• Financial Reporting: Accurate and timely financial statements will be prepared,
including balance sheets, income statements, and cash flow statements, ensuring
transparency and accountability.
• Internal Controls: Robust internal controls, including separation of duties and
regular audits, will be implemented to prevent fraud and misuse of funds.
4. Transparency and Accountability
• Public Reporting: Annual reports and financial statements will be submitted to
regulatory bodies and made available to the public, maintaining high standards of
transparency.
• Donor Reporting: Regular and detailed reports will be provided to donors,
ensuring clarity on the use of their contributions, especially for restricted funds.
5. Technology in Financial Management
• Software Solutions: The Foundation will utilize specialized nonprofit financial
management software for budgeting, accounting, grant tracking, and reporting.
• Digital Donations and Fundraising: We will engage in online platforms for
efficient and transparent donation and fundraising activities.
6. Audits and Compliance
• Regular Audits: External financial audits will be conducted annually to ensure the
accuracy of financial reports and compliance with accounting standards.
• Legal Compliance: Strict adherence to laws and regulations related to taxes,
employment, and fundraising practices will be maintained.
7. Training and Capacity Building
• Financial Literacy: Ongoing training in financial management will be provided to
staff and board members to enhance decision-making and accountability.
• Continuous Improvement: The Foundation will continually seek ways to improve
its financial and grant management processes for greater efficiency and effectiveness.
8. Policy Review and Amendments
These policies will be reviewed annually and amended as necessary to remain current with
best practices and regulatory changes.
At Divine Hearts Foundation we are committed to upholding the highest standards in grant
and financial management. Through these practices and policies, we aim to ensure the
responsible stewardship of resources entrusted to us, supporting our mission and the
communities we serve.
Divine Hearts Foundation: Data Collection and Management Practices
1. Introduction
This document outlines the Data Collection and Management Practices for Divine Hearts
Foundation. We are dedicated to responsibly collecting, storing, and using data in a way
that respects individual privacy and ensures security, in line with our organizational values
and legal obligations.
2. Data Collection
• Purpose and Consent: Data will be collected only for specific, explicit, and
legitimate purposes related to our mission. Consent will be obtained from individuals prior
to data collection, with clear communication about the purpose and use of their data.
• Data Minimization: We commit to collecting only the data that is necessary for the
stated purpose, avoiding excessive data collection.
3. Data Storage and Security
• Secure Storage: All collected data will be stored securely using appropriate
technology solutions. We will implement measures to protect data against unauthorized
access, disclosure, alteration, and destruction.
• Access Control: Access to data will be restricted to authorized personnel only,
based on their role and the necessity to access the data for organizational purposes.
4. Data Usage
• Purpose Limitation: Data will be used solely for the purpose for which it was
collected, unless explicit consent is obtained for other uses.
• Accuracy and Maintenance: We will ensure that data is accurate, complete, and
kept up-to-date. Regular reviews and updates of data will be conducted.
5. Data Sharing and Disclosure
• Controlled Sharing: Data will be shared with third parties only when necessary
and under controlled conditions. Agreements will be in place to ensure that third parties
handle the data in compliance with our privacy standards.
• Legal Compliance: Any sharing or disclosure of data will be in compliance with
applicable laws and regulations.
6. Data Subject Rights
• Transparency and Access: Individuals will have the right to know what data we
hold about them and to obtain a copy of this data upon request.
• Rectification and Erasure: Requests for data correction or deletion will be
processed promptly, in accordance with legal and organizational guidelines.
7. Data Retention and Disposal
• Retention Policy: Data will be retained only for as long as necessary for the
purposes it was collected, in line with our retention policy.
• Secure Disposal: Once the retention period expires, data will be securely disposed
of or anonymized, ensuring that it cannot be reconstructed or read.
8. Training and Awareness
• Staff Training: Regular training will be provided to all staff members on data
protection principles, policies, and practices.
• Awareness Programs: We will conduct awareness programs to ensure that data
protection is integral to our organizational culture.
9. Policy Review and Updates
This policy will be reviewed annually and updated as necessary to ensure it remains
effective and compliant with current data protection laws and best practices.
At Divine Hearts Foundation, we recognize the importance of responsible data
management. Through these practices, we aim to safeguard the data entrusted to us,
respecting the privacy and rights of individuals, and enhancing the trust and confidence of
our donors, beneficiaries, and partners.