Here is an overview of our finances, how donations are used and how far we are in terms of legal and organisational structures. If you have any questions, please reach out through our contact form. We will update this page frequently.
Our legal structure
We want to be able to give you a tax-deductable donation receipt. Therefore, we are starting out as a "gUG", which is a German non-profit structure. A "gUG" is the first step of becoming a "gGmbH" and it requires us to put 25% of all income (=our donations) as savings into the company. Once we reach 25,000 EUR of savings (which won't be touched) our legal structure will change to a "gGmbH".
Salaries: For now, the team volunteers their time, but we very much want to change this ASAP
Website costs: 30 EUR/months
Legal costs: TBD
Where does the money go?
25% goes into our savings account for legal reasons (see "our legal structure")
25% go into our running costs (salaries, administrative costs, marketing, etc.). 25% is the maximum amount, depending on the donation amount
50% go to the projects (at least)
*Once we have reached our new legal status, 75% of donations will go directly into microloans.
Ask us anything
What else would you like to know? Join one of our Q&A events or reach out through our contact form.