Solibad is an international organization, with the goal to collect funds in order to help local projects. One of Solibad’s characteristics is the way we handle the budgets – we keep our finances very tidy and make sure that all the money we collect goes to the projects, with a minimum of administrative costs. Solibad will publish regularly its financial statement so that everyone can see where the money comes from, and where it goes.
How does Solibad collect funds ?
The majority of Solibad’s funding comes from individual/private donations
- Private donation (online or through wire transfer)
- Sell of merchandise (T-shirts, laces, badges,goodies)
- Solibad events (exhibitions, local tournaments, etc)
- Auctions (Top players shirts, rackets, etc)
Where does the money go ?
Solibad distributes the money depending on the need of each of our projects. The board of Solibad has regular meetings where we discussed on where the money is needed the most among our projects. If there is a sense of emergency, we call an extraordinary meeting and decide on sending money as an emergency to one of our ongoing projects or possibly a new project
One of the key aims of Solibad is to ensure that 100% of the funds raised will definitely go to our projects. Once we have sent the money on site (generally by a bank transfer), we make sure that it has been used for what it was sent for.
Clean budget, clear financial statement
Every year, Solibad will publish its annual financial statement, where it will be clearly shown where the money has come from, and where it has gone or how much money we have left in the bank. We want to make it very clear to everyone – it is our duty to tell our donators exactly what their money is being used for.