So how do RUF finances work?

Since RUF set out to fundraise for other organizations, we made a bold promise: all funds raised/collected from donations will be 100% pass-through. There are no RUF commissions, and we obviously take no "cut". This is of course, after all card processing and banking fees.

Since we work with money, one of the most important aspects for us is Transparency.

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Three things to be said about RUF finances

1. Sources of funding

  • Donations are RUF's main source of funding for projects and grants, and also for operations
  • Some recurring donations, designated as RUF memberships, especially in the form of Angel DonationsΒ πŸ˜‡,Β are earmarked for operational costs
  • A large percentage of the Foundation's operational costs are annually funded from an Endowment Fund originally funded by Mihai Lehene
  • Starting in 2022, RUF applied for a first grant with DRP, for ROCO, the Romanian Community Center in Chicago
  • In 2022, 2023, and 2024, RUF successfully executed 5 projects financed from DRP projects. In many of these projects, RUF contributes a significant parts of funding from its General Fund

2. Our finances are audited

  • Our audit company isΒ Desmond & Ahern, Ltd
  • Our audited financials are published annually on our website
  • We have both internal (Board-level) audits and external audits
  • The annual cost of an external audit that is being done is over $10,000

3. Separate accounts for donations and operations

In order to guarantee that all donations are 100% pass-through, we keep Donations and our Operational Funds in separate bank accounts. Learn More

4. We are 100% pass-through*

All operational expenses are covered by our Founding Angels. 100% of donations collected in our Donations account are sent to our Partners*. Donations that are not ear-marked for any one of our partners end up in the RUF General Fund, which is also a 100% pass-through account. The funds we have available in this account are used to match donations during our partners campaigns, or they can be used in a discretionary fashion to support a Partner project (but they will not be used for RUF operational expenses).Β Learn More

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Important Notice

RUF - Romanian United Foundation

About

RUF unites the global Romanian diaspora to foster strategic change through philanthropy, innovation, and community-building. By connecting leaders worldwide, RUF positions Romania as a dynamic force in the global economy for future generations.

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