Frequently Asked Questions

How will the Foundation raise funds for its programs?

For our pilot program, the founding members have pledged approximately $20,000 from their own personal contributions, through the 1 Paycheck 4 Ghana campaign. After a successful pilot, we will launch a comprehensive fundraising effort that will include:

  • Extending the 1 Paycheck 4 Ghana campaign to all Ghanaians in the Diaspora.
  • Submitting grants for funding from various large foundations.
  • Soliciting support from companies in Ghana and North America.
  • Extensive outreach to North American universities.

The Finance Committee is charged with determining a reasonable fundraising target and deciding what portion of the funds will be invested in a diversified portfolio including equities, fixed income securities, venture capital and other social enterprise initiatives that will generate a constant source of support for the Foundation’s programs.

How will you achieve your long-term objective?

Credibility is the most important thing we need in order to achieve our long-term goal. For Ghanaians in the Diaspora who want to give back to Ghana, our challenge is to demonstrate that their contributions, if sent to NEO, will be allocated as advertised to achieve the maximum possible impact. Similarly, for Ghanaian-based NGOs, our challenge is to demonstrate that the financial and non-financial resources we offer are worth the inconvenience of opening themselves up for screening, and the effort of competing for our support. Since this level of credibility may take a long time to develop, any participant in this undertaking must be committed to the slow process of building a solid track record through incremental wins and measurable positive impacts.

 

As a first step, the founding members have pledged approximately $20,000 annually through our 1-Paycheck-4-Ghana campaign. With these funds, we recently launched a pilot scholarship program for underprivileged Senior Secondary School (SSS) students.

 

Over the next three years, we will raise more funds to support our entire portfolio of programs. As we launch and expand each of our initiatives over time, the quality and impact of our programs, combined with strategic advertising and networking, will establish us in the minds of well meaning Ghanaians and friends of Ghana as a credible, impact-driven foundation.

How do you plan to expand into the rest of Africa?

Our goal is to create a paradigm that can be replicated all over the continent by other African nationals who share our passion. Ghana is where we know, so that is our natural starting point; but imagine the ripple effect that would be created if various groups from different African countries adopted our blueprint and rallied their countrymen to join this campaign! Over time, we hope to impart lessons learned from our successes and failures to help other young Africans implement a winning strategy in their own homelands.

Why should I trust your organization?

  • Each of the founding members is poised for great professional success in corporate America. NEO is a labor of passion. There are no financial rewards for any of us; we do not need any.
  • We will subject our accounts to annual financial audits that meet the highest international standards. As part of our Memorandum of Understanding, all partner NGOs must agree to co-operate with our independent auditors to ensure sufficient verification of the reported allocation and utilization of funds.
  • We will publish all eligibility requirements online and make selection processes as transparent as possible for all of our programs. We are committed to ensuring that only those who need assistance benefit from our programs.
  • YOU can keep us accountable by joining one of our sub-committees or any other volunteer opportunities that become available. By helping us to plan and implement different projects, YOU will have a say in what gets done with your financial contributions, and witness first-hand, the passion and dedication that characterizes our quest for a new and improved Africa.
  • If you live in Ghana, you can volunteer to mentor NEO scholars in your region, visit them and learn first hand, what services they are receiving from us. If you live abroad, this activity could be a small part of your vacation trips to Ghana!

How will you ensure that your partner NGOs on the ground use your funds for the intended purposes?

We believe that there are many NGOs doing great things in Africa. As a first step, we are committed to doing the necessary filtration research to identify organizations we can trust. Beyond that, our program designs incorporate performance-based incentives that will ensure “best effort” participation from our partner NGOs. In addition, we will continue to monitor each NGO’s activities through trusted third-party reviewers in Ghana and stringent reporting requirements.

Why are you not focusing on the HIV/AIDS epidemic in Africa?

The HIV/AIDS epidemic in Africa is receiving lots of attention from domestic and international non-governmental institutions. While more resources are clearly needed in this fight, we are wary of spreading ourselves too thin with our limited resources. In our own small way, we hope to create more awareness among the youth through our educational and community service programs. However, for a large scale focus on HIV/AIDS, we will defer to other more experienced and strategically positioned charities ... for now!

Are my contributions tax-deductible?

Yes, we have been approved under IRS code 501 (c)(3) status in the state of New York. This makes all financial contributions made in the US tax-deductible.