One fund explains the expense accounts that are being challenged

Source: Internet
Author: User
Keywords Fund total expenditure
Tags accounts beginning cost development etc express financial financial management
At the beginning of last November, the Jet Li Foundation hosted a global public forum of 400 people, spending up to 2.5 million yuan, and 1.5 million yuan to build a website.  The information, published by the official website of the Jet Li Foundation, has been questioned by many netizens that it is spending recklessly. In this respect, Jet Li One fund yesterday said to Urban Express: "One Fund expenditure accounts open and transparent, there is no disorderly spending, hope social supervision."  "In order to avoid the event was hype, Jet Li One fund then through its own official website to the netizen question the expense to explain the explanation." Some experts believe that the Netizen questioned one fund to spend money, once again reflects the public interest in social charitable funds to go.  The public wants more transparent information to be made public, to know where to go and what to do, but the reality is not ideal.  Three-quarter management fees accounted for nearly 20% of the total expenditure of netizens exclaimed: Too high the Jet Li One fund in accordance with the promise of quarterly and annual capital access to the public.  In early October this year, Jet Li One fund through the official website, published "The third quarter of 2009 Jet Li One Fund financial management report." Some netizens said that the third quarter of the Fund's administrative and other operating expenses (commonly known as management fees) up to 1.57 million yuan, accounting for the third quarter of the total expenditure of 19.76%.  "The rate of management fees for one fund is too high". Another netizen posted on the forum said: "Open a will spend 2.5 million yuan, build a web site costs as much as 1.5 million yuan, Jet Li One fund to spend money."  "A number of netizens thread, I hope one of the funds to explain the whereabouts of the money:" Want to know the love of their donation to where to go.  Yesterday, the reporter logged Jet Li One fund official website. On the website, "Jet Li One Fund financial management report in the third quarter of 2009" shows that The third quarter total income of one fund is 13.5959 million yuan, the total expenditure is about 7.9657 million yuan, the expenditure includes 6.3916 million yuan of public welfare project expenditure and 1.5741 million yuan for administrative and other operating expenses, and there are only two expenditures in the Public Welfare Platform project of Public welfare project expenditure-  One Fund home network platform spent 338,000 Yuan, 2009 annual meeting spent 38,000 yuan. Through the calculation, the reporter found that one fund management costs do account for the quarterly total expenditure of 19.76%.  According to regulation 29th of the Foundation regulations, "the salaries and benefits of the foundation staff and administrative office expenses shall not exceed 10% of the total expenditure of that year". One fund response: 2.5 million meeting fee is such a flower last night, a female staff member said, the internet said that the cost of 2.5 million yuan "China Global Public Welfare Charity Forum" is the 2008 one fund and the Boao Forum for Asia Cooperation of a meeting. The meeting was held last November 1-2nd for two days, with 400 guests from all over the world who have influence in the field of public welfare.  At the same time also held a fund model project celebration Party. Of the 2.5 million yuan spent, 2 million yuan is several companiesIndustry-sponsored, the remaining 500,000 yuan is used for non-directional contributions. She explained that 2.5 million of the cost, including home and abroad speakers to return tickets, two days hotel accommodation catering, two-day venue leasing, venue layout, two-day audio rental use, dance design, conference implementation (Chinese-English translation and transmission, venue network equipment, etc.), conference production of printed materials (such as the Venue Background Board, conference information, etc.),  Two-day television recordings, one-hour overseas domestic television coverage and other expenses. "Many guests are at their own expense to participate in the public forum."  She said that the purpose of such an event is still to try to maximize the potential for free sponsorship resources.  1.5 million what is the cost of building a website?  The staff also questioned the Netizen "to build a website spent 1.5 million yuan" to explain.  She said that the 1.5 million included procurement Web server, Oracle database, server room hosting, Web Storage equipment, network equipment day-to-day maintenance management, model engineering Network evaluation Platform Development, one fund house hosting services, official website design and maintenance and many other costs. "Whether it is hardware or software, one fund is through the regular channel procurement, never use piracy, not tax evasion."  She said that in order to maintain the stability of one fund house, products and services that are cost-effective, can support demand and avoid being eliminated or updated within three years.  She said every expenditure on the site, in addition to strictly enforcing the financial regulatory process, has also sought donations as much as possible. One fund: Throughout the year to see the management fee is not exceeding the standard for management fees questioned, the staff said, the Fund has been in accordance with the Foundation Management Ordinance, although the third quarter of the management fee of 19.76%, but as at September 30, 2009, cumulative management costs accounted for only 4% of the cumulative total expenditure, no more than the regulations  10% of the rules. She explained that the assessment of management fees is based on the annual, quarterly, monthly costs according to the work content of the different has a low, if the simple use of quarterly calculation, there will be high or low management costs. "The question of whether the administrative cost is reasonable should refer to the annual financial report."  She said that as of September 30, 2009, the cumulative management cost of one fund accounted for 4% of the total cumulative expenditure. Some National Letterhead Foundation even the website can not find, not to mention the donation record "Our country's public welfare organization is in the beginning stage, single from the Information Disclosure, one fund is the domestic public welfare Organization to do a few good."  "Beijing Normal University social Development and Public Policy Institute of Social Welfare Research Center staff Chen said," One fund on the network to publish donations information, the latest activities, etc., insist on quarterly annual work reports and financial reports on the home eye-catching position open. Chen that as a public service organization should and must disclose its information, especially financial.  This is stipulated in the Foundation Management Ordinance, but there is no detail as to how it is published and what is published. "Public donations are voting。 Chen said that public institutions must be open to information in order to be able to win the trust of society.  This is the current trend. In 2004, our country promulgated the new Foundation management regulation, which allows individuals or enterprises to set up non-public offering foundations.  In less than 5 years, the number of non-public funds registered at various levels of the country has rapidly grown from several to more than 300. Chen, after last year's 5·12 Wenchuan earthquake, she took part in a survey of the use of a public good. found that the public welfare institutions of information is very unsatisfactory, "some countries are not even the foundation of the website, not to mention the donation record." She disclosed that some domestic foundations were already leading the development of the Foundation's Information Disclosure Guide.
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