At Steps of Love we take our responsibility to our supporters, sponsors, partners, and donors very seriously. We recognize our duty to use contributions as they were intended and as effectively and efficiently as possible. Therefore, we have established procedures to ensure your gifts have the maximum impact on the students we support.
Steps of Love monitors use of funds granted to our partner, AIM Penasco, as follows:
1. We require our partner to submit monthly reports detailing and describing all expenses associated with their charitable operations for the month.
2.We review the reports to ensure expenditures are appropriate and funds were used for the intended purpose.
3. We perform periodic audits (usually monthly) of selected expenses and petty cash to ensure the validity of transactions and related supporting documentation.
4. We review AIM's monthly bank statements to ensure all expenditures have been properly reported.
5. We perform ongoing field inspections of partner operations, including reviews of internal control procedures.