Financial Policies

Finance Quick Links

On-Field Financial Responsibilities

Projects agree to the financial policies of FCF. This includes accounting for any and all financial transactions of the project in a manner consistent with FCF’s policies and procedures. Project will supply funding for all project activities and/or payroll.

FCF agrees to provide the following financial and payroll services to project’s staff on a monthly basis or when necessary:

    • Paying social insurance (paid through FCF by project).

    • Withhold social insurance from employee salaries.

    • Provide legal employment under the umbrella of FCF.

    • Set Thai staff salary levels in consultation with project.

    • Process monthly payroll.

    • Provide the following services to project’s foreign volunteers:

      • visa applications

      • work permit applications

Limit Of Liability

FCF excludes all liability for any financial loss, cost or expense incurred by project, its volunteers or its staff, including any loss, cost or expense caused by its negligence or other breach of duty, including but not limited to:

    • Medical & Hospital Fees in Thailand, Passport Country, or Other Country.

    • Other Medical or Emergency Expenses associated with Personal Injury in Thailand, Passport Country, or Other Country.

    • Death or Dismemberment and all Expenses as a result of Death or Dismemberment in Thailand, Passport Country, or Other Country.

    • Travel, Housing, Transportation, Utilities, or other Personal Expenses in Thailand, Passport Country, or Other Country.

    • Legal Fees or Arbitration in Thailand, Passport Country, or Other Country for any reason, personal or professional.

    • Government Mandated or Political Evacuation or Elective Evacuation during Political Unrest from any Location to Passport Country, or Other Country.

    • Government Mandated or Political Evacuation or Elective Evacuation during Political Unrest from one location in Thailand to another.

    • Medical or other Emergency Evacuation from Any Location to Passport Country or Other Country.

    • Return of Mortal Remains from Any Location to Passport Country or Other Country.

    • Returning Minor Children from Any Location to Passport Country or Other Country.

    • Project will ensure that all project staff are aware of FCF's limit of liability.

    • In the event that an event occurs or circumstance arises that causes or has the potential to cause either party or their staff financial loss, cost, expense or inconvenience, the parties will promptly consult together in good faith to agree a plan of action to mitigate the adverse impact of that event or circumstance.

Funds Request Compliance

Funds requests are FCF's procedure for moving funds throughout the FCF systems. It is important that we have a well defined procedure to ensure that we are fully compliant with all international and local laws. In order to request funds through the FCF system, the requesting project must be compliant with all FCF management policies and procedures. Click here to view the finance procedures.

Financial System

Legal Financial Status

The FCF financial system is comprised of the following details:

    1. FCF is a registered Social Foundation in Thailand meaning that it has license to participate in socially relevant activities, petition for visas and work permits, receive international tax sheltered funds, and local donations.

    2. CORD Ministries International

      • CORD Ministries International is FCF’s primary tax sheltered 501(c)3 partner in the USA. While separate entities, we share a common vision and fiduciary responsibility to ensure that our activities are consistent with CORD Ministries International’s tax exempt status.

      • There is approximately a 2-6 week turnaround time on funds donated to CORD Ministries International for FCF activities. Each month CORD Ministries makes one transfer of all funds to FCF, usually around the 7th of the month. Special one time transfers can be requested outside of the regular monthly schedule, but will incur a wire transfer fee as determined by CORD Ministries International.

      • Using CORD Ministries International is not required for U.S. fundraising.

    3. Other possible funding options are as follows:

      • FCF has an existing account with that our staff are welcome to use. Donations using this method are tax deductible for U.S. citizens with processing times of 4-8 weeks between the donation and arrival of funds in Thailand. FCF has no control over when those funds are transferred.

      • FCF has an international PayPal account for donations from anywhere in the world in any currency.

      • Set up a registered non-profit in the country in which the project would like to receive funds.

      • Pursue a partnership with a registered non-profit organization in the desired country of funding that can provide the desired services.

Local Government Compliance vs International Compliance

    • While international tax and accounting compliance is of great value to FCF, we realize we cannot meet the needs of all governments with one system. In light of that understanding, FCF’s financial system was designed to prioritize local government compliance over international compliance. It is the responsibility of projects to do their due diligence to “translate” FCF financial systems into vocabulary and form that is in full compliance with partner requirements from other government systems.

    • It is FCF’s intention to continually improve our financial system to comply with as many different contexts as possible but we recognize this is a permanent process of improvement.


FCF’s bookkeeping is done by full-time Thai administrative staff using a combination of hard copy Thai requirements and a digital double entry accounting system called Aplos. Our accountants have relevant degrees and experience.

Project Finance Reports

Project designated fund activity and current balances can be viewed by logging into your Aplos Account. Under "Reports," you can choose the report that will best fit the information for which you are looking. If you need help finding something or training on Aplos, email

Project Accounting

  • FCF receives hard copy records of every receipted transaction but does not enter individual transactions into our digital system. For example, “food” will be represented on your statement as 1 expense during a calendar month rather than a detailed list of all the different meals paid. Each line item is included

  • Projects that would like more detailed digital records are encouraged to keep their own records in a different system.

  • Prior to the 5th of each month, the following records are due to the FCF office:

  • For questions regarding FCF’s requirements, please email


Audit Requests From Donors, Churches & Grantors

If an individual donor or church requests a simple financial report about your project, you are welcome to contact for assistance or to copy us on your communication. This is not required, but we are happy to help. However, if an organization requests a formal audit or more formal financial statements about your project, FCF Finance must be included in the process to ensure that we are providing legal financial information about the foundation. Our goal is to help your project maintain your funding and provide accurate information quickly. If you ever want help communicating with any of your donors or want ideas about your fundraising strategy, please feel free to contact

United States & Other Countries

Annually relevant FCF finances are included as part of the financial reports submitted to the governments of partner nonprofit organizations in other countries. To request a copy of CORD Ministries International’s 990 report to the IRS, contact


Every month, FCF submits all receipts to a 3rd party bookkeeper for review. Every year, FCF financial records are audited by a separate 3rd party accounting firm to ensure their accuracy. This audit report is submitted annually to the Thai government for review. The financial statements the auditor prepares follow both Thailand Financial Reporting Standards (TFRS) and International Financial Reporting Standards (IFRS). To request a copy of this report contact The report is available in Thai or English, usually sometime in May.

FCF Financial Transaction Flow Plan


    • Within the FCF family of people and projects there are guidelines imposed upon us by both sending countries and Thailand. Financial reporting guidelines and tax law requirements require formalizations that show clear financial procedures. For any project and person to avail themselves of tax privileged donations, these simple policies and procedures must be followed by all of us.

    • Audit Requirements - financial reporting within Thailand requires FCF to have audited accounts. We have organized our response to this requirement by having one main FCF Corporate Holding Account that contains most FCF transactions. We have several other bank accounts that are only for receiving donations and are regularly transferred to our main FCF Corporate Holding Account. Consolidated transfers into and out of this account are allowed as long as there is one defining purpose and income and deposits are not mixed.

    • Annual Expense and Income Projections - projections required for each Branch Office and Project. These are combined and consolidated into the Annual Expense and Income Projection for the FCF Corporate Holding Account which is considered the overall FCF financial budgeting tool for the upcoming year.

Money coming into FCF

  1. Money and gifts-in-kind are formally received and receipted by FCF from many sources. Gifts can only be formally received and receipted by:

    • FCF Main Office

    • Any FCF Branch Office

    • Any FCF Project

  2. Regardless of the FCF receipting agent, every gift shall be processed at the FCF Main Office by the Finance Division and assigned to the proper account as documented. Contact for help with receipting.

  3. No money or gifts-in-kind are to be held locally at a Branch Office or Project. All incoming gifts are to be deposited into the FCF Corporate Financial Holding Account where they will be designated to the relevant project fund.

Money leaving FCF

  • Money leaves FCF for only pre-authorized purposes. Authorization is granted by:

    • FCF Main Office

    • Any FCF Branch Office

    • Any FCF Project

  • Every expenditure must be documented and confirmed by written receipt.

Money flow within FCF

Transfers between FCF Corporate Financial Holding Account and project operating accounts will focus on supporting project activities and project staff. Transactions between the FCF Corporate Financial Holding Account and Branch Office operating accounts will focus on supporting only the work of the Branch Office itself. These accounts are personal accounts in director names and to be used solely for project purposes. Balances may not be carried over multiple months per our zero bank book policy.

Examples - Branch Office Transactions

  • Branch Office Rent

  • Branch Office Staff Salary

  • Branch Office Supplies

  • Branch Office Electricity

  • Branch Office Internet

  • Branch Office Translation

  • Branch Office Telephone

  • Branch Office Transportation

  • Branch Office Repairs & Maintenance

Note: These Branch Office expenses will be documented and appropriate transactions will be made with the FCF Corporate Financial Holding Account.

Example – Designated Project Donations Coming From Outside Thailand

    • Financial gifts received into the FCF Corporate Financial Holding Account from outside Thailand will be distributed to the designated project operating account upon notification of designation by either the receiving project or sender.

Example – Local Donations Received by a Project

    • All financial gifts received by an FCF Project shall be transferred to the FCF Corporate Financial Holding Account.

    • A documented paper trail should clearly and separately show project income and expenditures.

Example – Project Expenses

    • Project expenses shall be organized by the project and resources transferred from the FCF Corporate Financial Holding Account.

    • A documented paper trail should clearly and separately show project income and expenditures.

Cost Share Program

What is the purpose of the Cost Share Program?

The purpose of the Cost Share Program is to distribute the cost of providing vital legal and oversight services among all our partnering organizations in a way that is fair for everyone. This allows us to efficiently provide first class services to mission agencies and individuals. Our intention is to standardize many of the services we provide, as well as how we project and fundraise for the cost of these services. The Cost Share Program is a donation system where we ask for active participation and communication from the projects and people involved. Every gift is to be a willing donation. We use those gifts to provide the necessary services for all of us to live and work here legally. FCF’s projects are, however, dependent on these donations and we can continue to operate only if sufficient donations are received. We believe that this is a biblical model of ministry, partnering together as the Body of Christ.

Volunteer Cost Share Program

Click here for more information on the Cost Share Program

Project Cost Share Program

Each project will work directly with FCF admin to determine a cost share structure that reasonably reflects the project's financial impact on FCF. This cost share amount will be a mutual agreement between the project and FCF and be clearly defined.

Purchase Requests

When needed, FCF is experienced with and happy to assist projects with large or complex purchases. We would ask that projects please take responsibility for purchasing anything that isn’t classified as one of the following:

    • Difficult to find in Thailand

    • Greater than 10,000 THB

    • Requires significant negotiation

    • Requires a material legal agreement with FCF

If you need assistance please visit the office or email

Payment for the purchased item may be processed directly from the project’s holding account within FCF.

Account Deficits

Projects must pay all amounts owed to FCF on time and promptly clear all financial account deficits owed to FCF on demand. This applies to ongoing account balances as well as projects prior to dissolution or transferring out of FCF. In the event that a project persistently or repeatedly fails to pay amounts due to FCF on the due date, FCF may apply all or any of the following remedies:

    • FCF may direct a project to scale back the scope of its operations or reduce staff numbers in order to reduce costs and meets its financial obligations;

    • FCF may suspend providing certain services to a project;

    • FCF may realize assets owned by it and funded and used by the project and apply the proceeds of sale and any other project funds to reimburse FCF for any liabilities, costs or losses caused by the breach;

    • FCF may terminate this Agreement, dissolve the project and remove it from FCF.

Negative Balances

FCF does not advance money to any projects or programs. Our desire is for all FCF projects and programs to be financially healthy. However, we recognize that sometimes unforeseen circumstances happen that could lead to a negative fund balance. If this happens, the CFO and Director will take the following steps to agree to a temporary negative balance for no more than 3 months. If the fund still has a negative balance after 3 months, the FCF Executive Board will make a decision on how to proceed.

    • The Director must submit 3 documents to the CFO: a detailed explanation for the current fund balance problem, a new budget through the remainder of the year, and a detailed fundraising plan.

    • Any allowed negative balance of an individual project will not be more than the next month’s expenses on the new budget submitted to the CFO.

    • The combined total of allowed negative balances of all projects needing help will not be more than 25% of FCF’s contingency fund unless the FCF executive board gives the CFO special approval to temporarily exceed that limit.

    • Donations that we can see coming such as through CORD or GlobalGiving, but not yet in FCF’s bank account, will be factored into the current fund balance temporarily for purposes of calculating the current negative balance.

    • The track record of a project’s financial health will be factored into the CFO’s decision of whether or not to allow a negative balance and by how much. Just because a fund is eligible for a specific negative balance does not guarantee it will be allowed.

    • Until the fund balance is positive again and the project is on a path to financial health, the Finance Division will be directly involved in monitoring financial activities to ensure progress is being made.

    • If the Director does not agree with the CFO’s decision, the Director may ask the FCF Executive Board to reconsider the situation by first contacting the FCF Executive Director.

Project Closing or Transferring

FCF reserves the right to retain all funds donated to the project’s designated fund at FCF. Any items purchased with FCF funds are the property of FCF. In the event a project is closed, these items must be returned to FCF unless approved for transfer to another foundation. FCF reserves the right to make the final decision as to what, if any, transfers occur, but typically this is something that can be done in most cases. Transfers can only legally be made from FCF to another Thai foundation.

In the event FCF has approved a project transferring to another foundation or setting up its own foundation, all assets purchased with FCF funds, real estate, and designated project funds, will be transferred to the new foundation. The nature of the ministry under the new foundation must be similar to that for which the funds were originally donated to FCF. All cash and assets must be transferred within 6 months of officially leaving FCF, after which time, any remaining cash and assets will remain with FCF.

Examples of when FCF will transfer funds to another foundation:

    • Example #1: A project and FCF mutually agree that the project will set up its own foundation.

    • Example #2: A project is not terminated by FCF, but wants to transfer to another existing foundation and do the same, or similar kind of ministry the funds donated were originally intended for.

Examples of when FCF will not transfer funds to another foundation:

    • Example #1: A children’s home decides to start a business as mission instead.

    • Example #2: A project is closed due to termination of service.

    • Example #3: A project is closed due to resignation and the project director wants to give the funds to another ministry outside of FCF.

Undesignated (Mystery) Donations

Occasionally FCF receives money that doesn’t have a designation. Thai banks do not always share information with each other and we usually don’t see anything written in the transfer memo field from other banks. We always see a partial account number and know the source bank, but unless someone informs us what it’s designated for or we recognize the partial account information, we don’t know what to do with it. Sometimes people transfer money via a money drop ATM so we receive no information at all about the donor. We strongly suggest avoid using money drop machines for this reason. We have a database of partial account numbers that we’ve identified over the years so we are able to identify the purpose of 99% of our donations. FCF’s Finance Division will always go above and beyond to attempt to honor donor intent and we ask that our directors always remind potential donors to tell them when they donate.

Any undesignated money we receive is placed in a temporary holding account until it’s claimed for up to 3 months, after which time it will be transferred into FCF’s general fund. This does not increase the FCF admin budget, but it does help reduce the burden of cost share so everyone benefits from undesignated donations. If you are missing a donation, please contact us with as much information as you can about the transfer at

Asset Management

In order to protect our volunteers and staff, FCF needs to be able to confirm the existence of assets purchased through FCF. The following plan only applies to items expensed through FCF. If you purchase anything using personal money, we do not need to track those items.

Any items you purchase through FCF with a value over 1,000THB that can be used for more than a year goes on our list of current assets. The total value of FCF’s current assets are added to our balance sheet which is submitted to the government each year. Once a year, director’s will receive their current list of assets from FCF Finance and will be responsible for confirming the existence of assets on the list. If an asset is sold, the proceeds need to be returned to the project or program fund. If an asset is given away, we need to document it as a gift and remove it from our list of assets. Legally, all assets purchased with FCF funds are the property of FCF. However, if a project or program ever transfers or closes down, we will treat assets in the same way we treat any remaining fund balances. In most cases, assets can be transferred to the new organization.

Goods & Services Policy

For the context of this policy, a “program” refers to any project activities, both formal or informal, that involve the offering of goods or services to the community in exchange for suggested donations. According to Section 110, Chapter 3, of the Civil and Commercial Code of Thailand,

“A foundation consists of assets allocated for the purpose of public charity, religion, art, science, literacy, education, or other purposes for public benefit and not for profit sharing… [and] must carry out the objectives of the foundation.”

In order to implement a new program under an FCF project that involves goods and services, directors must adhere to the following:

Prior to any program activities beginning, a program plan must be submitted to and approved by the acting Executive Director or CFO of FCF. The plan must demonstrate clearly how the new program supports the objectives of the foundation and mission of the project. It must also include a financial plan that includes the likely suggested donation amounts to be requested and total annual donation revenue projected.

The parameters of the program must also be approved by the project’s advisory board and added to the Project Description.

The new program must exist for the primary purpose of supporting the objectives of the foundation and mission of the project. Helping to reduce the amount of fundraising is a secondary benefit. If the desire of a project director is primarily to reduce the amount of fundraising needed, a registered business separate from FCF that donates profits to the project under FCF is a better alternative.

The program can not be publicly called a “business” to ensure the program is not, nor appears to be, a for-profit business. Effort should be made to be careful what language is used regarding the program. A bakery or beauty parlor, for example, would be better called a “a job skills training center that teaches” how to bake or cut hair. If the desire of the director is to market the program as a business, a business entity should be registered separate from FCF.

The program can not charge fixed fees for any goods and services, but can publicly display suggested donations provided it is clearly stated that the prices are “suggested” or “free will” donations.

All cash donations received must be submitted to an FCF bank account per our usual cash flow process, and will be designated for the director’s project fund of choice.

If it is determined by the FCF Board of Directors that the program has begun to go beyond its original purpose, the program may be required to change its structure, reduce its size, or permanently closed to prevent the appearance of a for-profit business being run under a foundation.