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Questions and Answers - Financial and Business Integrity

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Will there be detailed financial information on how its funds are spent?

Mayflower will be independently audited annually and its financial statements published.


How do local organizations, NGOs and CBOs get involved?

Mayflower will deliver its programmes entirely through local NGOs and CBOs.  As the managers of Mayflower, NEW ERA has a master list of NGOs/CBOs in Lagos which we will use to help us determine best fit for the programmes. Specifically, there are a number of larger NGO’s that have proven capacity to manage smaller NGO’s and CBO’s.  In the first instance we will work mostly with these larger NGO’s who in turn will manage the smaller organisations.  Overall, the intention of Mayflower is to implement self sustaining change over a five year period.  By definition this will require a significant level of community participation.


How will the Foundation pick NGOs & CBOs to work with?

There are very many NGOs and perhaps even more CBOs throughout Lagos.  To work with Mayflower NGOs and CBOs will need minimum levels of legal registration, competency, ability to grow and prior track record.  A transparent bid process will then enable eligible entities to bid to become pre-selected implementation partners which can in the future be called upon to submit proposals to Mayflower.


How will NGOs and CBOs be made accountable?

NGOs and CBOs performance will be managed on a quarterly basis so that non performance is quickly spotted.  For each programme there will be a preferred and backup implementation partner should the preferred implementation partner not deliver for more than a contracted period.  Further, there will be payment retention clauses in all contracts relating  to performance.


Are there potential tax rebates for CSR activities within the foundation?

Mayflower will not attract any different tax advantages to any other foundation in Nigeria.  However, the size of Mayflower may influence, over time, the state and federal government view of  the best approach to charitable tax relief.
 

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A Better Day In Lagos” is a portfolio of CSR programmes in Ebute-Metta, Lagos Mainland, set up by The Mayflower Foundation

©2009 The Mayflower Foundation all rights reserved

Contact Mayflower Foundation here

Initiated by Lagos State Signage and Advertisement Agency

Contact LASAA here

Visit LASAA website
Visit New Era Partners website

Mayflower concept, design and management by New Era Partners

Contact New Era Partners here