Our Financial Commitment
While HART is passionate about serving the physical and spiritual needs of impoverished people in Eastern Europe, we are also dedicated to maintaining financial integrity as we pursue these objectives. Financial responsibility is critically important to us. When you donate to HART, you can trust that:
- The funds you contribute to a specific HART project or program will go solely toward that project or program.
- Administration fees can be up to, but will not exceed 10%.
- HART works only with trusted partner churches, leaders, and agencies we have vetted. This ensures your funds do the work that they were intended to.
HART’s goal is to deliver 90% of funds raised directly to its ministry partners in Eastern Europe. How can we do this?
- Much of HART’s operational costs are covered by generous private donors who believe in our mission. These donors understand that operating a ministry requires overhead costs. Their support covers everything from salaries to office rent, as well as basic office systems and supplies. These donors are a huge blessing to our operation, as their investment stabilizes our operations to pursue long-term mission goals.
- HART stages fundraising events on a regular basis. Upwards of 50% of funds raised at these events are ‘undesignated.’ This allows us to put funds toward projects that receive less funding from our regular donor base, and cover additional operational expenses.
- HART’s promotional and educational materials (such as newsletters, emails, this website, etc.) offer donors the opportunity to contribute towards designated or undesignated projects in HART’s ministry. Many choose the latter, which affords us the ability to fund projects that get little to no direct support, without borrowing funds from the projects to which they were originally designated.
Our goal is full financial transparency and accountability to both its donors, partners, and the public alike. We welcome supporters and prospective donors to send any finance-related questions you have by email. All inquiries will be answered in a timely manner.
Schedule for annual tax receipts:
- Annual tax receipts for the USA will be mailed out by January 31 of the year following the donation.
- Annual tax receipts for Canada will be mailed out by February 28 of the year following the donation.
HART Canada and HART USA are audited annually by independent public accounting firms. Occasionally, we receive more contributions for a given project than can wisely be applied to that project. When this happens, we use these funds to meet a similar pressing need as directed by our Board. Records of our financial statements from the last number of years are included below.