FREQUENTLY ASKED QUESTIONS
Why does TFish Fund have its focus in East Asia?
Despite being home to some of the biggest as well as fastest growing economies in the world, the gap between the rich and the poor is evident. Nonprofit work is newly developing in this region and TFish Fund would like to provide a framework to develop the nonprofit culture and as a result respond to these complex social issues. In addition, with the entrenched lack of transparency within local non-profits, it is difficult to know whether well-meaning donations ever reach the intended recipients. There are simply no checks or controls within the sector. As such, we have chosen to focus our work in East Asia.
How can I know that 100% of my donation reaches the beneficiary?
TFish Fund has partnered with the Chao Foundation, which has pledged to cover online transaction fees and overhead expenses to ensure that 100% of your donation reaches the beneficiary. In addition, donation amounts are updated weekly and made public on the program's page. Both donors and NGOs have access to the information on the website and can verify the amount given and received. NGOs have access to this public information to check for any discrepancies and confirm the donation received matches. Making this information public allows for donors and NGOs to be rest assured that it is indeed 100%.
Why is the name Transparent Fish?
The Indian glassy fish has a striking transparent body revealing its bones and internal organs; the male develops a dark edge to the dorsal fin. It is a beautiful depiction of our goal for responsible and honest philanthropy culture in East Asia. The name “Transparent Fish” was chosen to reflect our core mission of facilitating a culture of transparency and accountability within the non-profit sector in East Asia.
How do we know when our donation reaches the beneficiary?
Donors can track their donations in the quarterly donor book we publish for each NGO, where their names, donation amount and the project name which was donated to. For example, if you make a decision in October, you can anticipate to check Quarter 4's Donor Report book in December for your name and the project updates and impact from your support.
What is unique about donating with TFish Fund versus any other organization?
Donors can visit our Track page and click to see the financial reports of the NGOs they have contributed to. The quarterly reports feature everything from donor names to project stories, making them an excellent way to stay engaged with the NGOs you donate to. Allowing donors to track how their money was used also gives donors extra assurance that 100% of donations reach the NGO or project they were meant for.
How do you select the NGOs? What is the selection criterion?
TFish NGOs are local grassroots with a strong track record for impact and sustainability, which display commitment to transparency and financial accountability. At TFish Fund, we are selective about who we accept as strategic partners. Out of 350 NGOs who were considered this application round 2011, only 20 (5.7% selective) have fit our criteria and are given an opportunity to apply. We look for grassroots organizations or NGOs who have financial need and have similar values as we do. They should be committed to spreading a spirit of philanthropy and willing to perform financial transparency. By working closely only with those NGOs that show extreme dedication to these goals, we can make sure these partners receive a very high standard of service from us.
I see four stars on the website, what does that mean?
The four stars are our TFish Transparency Ratings for financial disclosure, which are given at every quarter. Partner NGOs must complete the financial disclosures #1-4 each month (see How It Works page). Monthly information is reported quarterly to donors. If partner NGOs do not meet this minimum, they cannot receive funding from us until the next quarter. If they consistently fail to meet these requirements, they will be disqualified from being our partner and will no longer have access to our services
What is the difference between the financial book and the annual report book?
Annual Report books are designed to display an NGO’s key information such as key project milestones, expense breakdown and project stories in an easily digestible format. The financial book displays raw financial data about how an NGO spends its money, divided into broad categories of income, project expenses and administrative expenses.
When will the fund be distributed to the NGO?
Funds are distributed to the NGOs on a quarterly basis.
Despite being home to some of the biggest as well as fastest growing economies in the world, the gap between the rich and the poor is evident. Nonprofit work is newly developing in this region and TFish Fund would like to provide a framework to develop the nonprofit culture and as a result respond to these complex social issues. In addition, with the entrenched lack of transparency within local non-profits, it is difficult to know whether well-meaning donations ever reach the intended recipients. There are simply no checks or controls within the sector. As such, we have chosen to focus our work in East Asia.
How can I know that 100% of my donation reaches the beneficiary?
TFish Fund has partnered with the Chao Foundation, which has pledged to cover online transaction fees and overhead expenses to ensure that 100% of your donation reaches the beneficiary. In addition, donation amounts are updated weekly and made public on the program's page. Both donors and NGOs have access to the information on the website and can verify the amount given and received. NGOs have access to this public information to check for any discrepancies and confirm the donation received matches. Making this information public allows for donors and NGOs to be rest assured that it is indeed 100%.
Why is the name Transparent Fish?
The Indian glassy fish has a striking transparent body revealing its bones and internal organs; the male develops a dark edge to the dorsal fin. It is a beautiful depiction of our goal for responsible and honest philanthropy culture in East Asia. The name “Transparent Fish” was chosen to reflect our core mission of facilitating a culture of transparency and accountability within the non-profit sector in East Asia.
How do we know when our donation reaches the beneficiary?
Donors can track their donations in the quarterly donor book we publish for each NGO, where their names, donation amount and the project name which was donated to. For example, if you make a decision in October, you can anticipate to check Quarter 4's Donor Report book in December for your name and the project updates and impact from your support.
What is unique about donating with TFish Fund versus any other organization?
Donors can visit our Track page and click to see the financial reports of the NGOs they have contributed to. The quarterly reports feature everything from donor names to project stories, making them an excellent way to stay engaged with the NGOs you donate to. Allowing donors to track how their money was used also gives donors extra assurance that 100% of donations reach the NGO or project they were meant for.
How do you select the NGOs? What is the selection criterion?
TFish NGOs are local grassroots with a strong track record for impact and sustainability, which display commitment to transparency and financial accountability. At TFish Fund, we are selective about who we accept as strategic partners. Out of 350 NGOs who were considered this application round 2011, only 20 (5.7% selective) have fit our criteria and are given an opportunity to apply. We look for grassroots organizations or NGOs who have financial need and have similar values as we do. They should be committed to spreading a spirit of philanthropy and willing to perform financial transparency. By working closely only with those NGOs that show extreme dedication to these goals, we can make sure these partners receive a very high standard of service from us.
I see four stars on the website, what does that mean?
The four stars are our TFish Transparency Ratings for financial disclosure, which are given at every quarter. Partner NGOs must complete the financial disclosures #1-4 each month (see How It Works page). Monthly information is reported quarterly to donors. If partner NGOs do not meet this minimum, they cannot receive funding from us until the next quarter. If they consistently fail to meet these requirements, they will be disqualified from being our partner and will no longer have access to our services
What is the difference between the financial book and the annual report book?
Annual Report books are designed to display an NGO’s key information such as key project milestones, expense breakdown and project stories in an easily digestible format. The financial book displays raw financial data about how an NGO spends its money, divided into broad categories of income, project expenses and administrative expenses.
When will the fund be distributed to the NGO?
Funds are distributed to the NGOs on a quarterly basis.
