Financial Accountability

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.

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Program Oversight

Representatives from Steps of Love visit the program in Puerto Penasco frequently to perform detailed reviews of facilities and operations. They also visit students and their families to conduct interviews to ensure they’re receiving the benefits and services promised to our supporters.

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Financial Oversight

To ensure contributions are used efficiently and as they were intended, we strictly monitor the use of funds granted to our partner. In addition to requiring AIM Penasco to submit detailed monthly financial reports, a Steps of Love representative performs regular, in-person audits to ensure the validity of financial transactions and supporting documentation.

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Financial Efficiency

Our Board members commit to funding most of the U.S. overhead so that the majority of your donation goes directly to fund the program in Mexico. 

 

In FY 2020, 94% of donations from supporters outside of our organization went to support AIM Penasco’s program that directly serves the students in Mexico.

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.

2019 Financial Report

(Form 990)