Financial Accountability

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Projects

Lautaro Center - Chile
Lautaro Clinic - Chile
San Luís School - Chile
Ecuador Church - Ecuador
Bible Center - Spain

Financial Accountability and Communications

As an intern with IberoAmerican Ministries, there are two options for your financial gifts depending on your length of stay in country:

1.	If you are staying in country less than three (3) months, we ask that all of your donations be handled through your home church. Your church will then forward the funds needed for your internship to the IAM Office based in Monroe, Washington. A six (6) percent administration fee will be deducted from the total donations recorded on your statement.
2.	If you are staying in country more than three (3) months, the IAM Office will receive all financial donations directly. The Office Administrator will assist you with establishing a checking account. The Office will record, receipt and deposit your donations and will prepare monthly statements. (See procedures for long-term stays below.)

The IAM Office can also help you with mailing out regular communications or newsletters about your ministry. Please feel free to discuss any financial and communication issues with the IAM Office.

PROCEDURES FOR LONG-TERM STAYS (MORE THAN 3 MONTHS)
Below are procedures for statements, donations, compensation, and communication issues for IAM interns staying in country more than three (3) months:

1.	Personalized Statements. All donations designated to your ministry or a particular project is received into one account under IberoAmerican Ministries and is recorded on separate statements for each intern.
2.	Donations-General or Project Related. All donations must be made in the form of a personal check or money order payable to IberoAmerican Ministries, designated to the ministry project. Donors may wish to give to a specific project and may designate the gift "Project / Name of Intern." It is understood when a gift is given to the project, IAM has the authority to use the funds for the project or allocate at their discretion. The IAM Team Leader has final approval on mission project funding.
3.	Report of Donations Received. A report of the total donations received for your ministry will be produced monthly by the IAM Office. Reports will be distributed via e-mail between the 1st and 5th of the following month.
4.	Administration Fee. At the closing date of each month, a 6 percent administration fee will be deducted from the total donations recorded on your statement.
5.	Newsletters/Correspondence. The IAM Office can mail regular printed newsletters about your ministry. An accurate mailing list must be provided to the IAM Office two weeks before the letter is due to be mailed. Identify those receiving e-mail updates.
6.	E-mail Ministry Updates. If you send regular e-mail updates about your ministry to supporters, please include the IAM Office Administrator and IAM Board on your distribution. If you are sending the same update via a printed newsletter, revise your list to exclude duplicate recipients from e-mail and print mailing lists.