As a 501(c) (3) non-profit organization, AFJ relies on individual and corporate contributions made by donors who believe in our work and will advocate on our behalf. To ensure their generosity merits the respect and trust of the general public and that donors and prospective donors can enjoy complete confidence in our fiduciary stewardship of their gifts, the American Friends of Jamaica monitors compliance with applicable federal and state regulations, files audited financial statements, and makes material information available to donors upon requests. Donors are routinely informed of the organization’s mission, of the organization’s needs, and of the way the organization uses donated resources.
Donor funds are classified as either “restricted” or “unrestricted”. A donor may choose to establish any of the following contributions to address issues and needs of interest:
Unrestricted funds enable the foundation to meet the pressing needs of our grantees, as well as to meet operational expenses of the AFJ. Funds derived from AFJ fundraising activities are retained as unrestricted funds. These funds are used primarily to address the ongoing needs of our charities relating to education, healthcare, and economic development. Such charities are selected through AFJ’s annual application process.
The AFJ will not apply any administrative fee to unrestricted gifts.
Restricted or Donor Directed Funds
Restricted funds are paid to AFJ to be distributed or otherwise managed based on specific donor instructions. Restricted funds may be earmarked by the donor for a targeted purpose or field of interest, or directed to a specific qualified charity upon donation or at a future point in time. Such organization should be registered under the Jamaican Charities Act of 2013 or be a recognized school or university. In accordance with the By-Laws of the AFJ, the board may, in its absolute discretion, refuse to make any grants or contributions or otherwise render financial assistance for any or all purposes for which funds were requested. Grantees are required to furnish a periodic accounting to show that the funds were expended for the purposes approved. Donations must be a minimum of $1,000.00.
Effective January 2011, restricted funds received by the American Friends of Jamaica for a donor’s specific purpose will be assessed a 5% fee. Administrative fees will not be assessed on restricted funds received prior to January 1, 2011.
The AFJ’s administrative fee is utilized to compensate the AFJ for its responsibilities and transactions relative to restricted funds paid to AFJ, i.e., transfer of funds, management/investment of funds where applicable, providing tax receipts, ensuring receipt of funds by designee, and annual reporting requirements.
The administrative fee does not include any credit card and wire transfer charges assessed to AFJ, which will be added to the 5% administrative fee. Applicable fees will be levied upon receipt of the funds.
Restricted funds received with instructions for full disbursement will be disbursed within 30 days of AFJ’s receipt of funds. Otherwise, restricted funds will be managed/invested by AFJ in accordance with the donor’s instructions, or in the absence of such instructions, under the direction of the AFJ Board.