Financial Policies

Finance Quick Links

On-Field Financial Responsibilities

Project agrees 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.
  • Process monthly payroll.
  • Provide the following services to project’s foreign employees:
    • visa applications
    • work permit applications
    • set Thai staff salary levels in consultation with project.

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. CORD Ministries International
    • CORD Ministries International is FCF’s registered tax sheltered 501(c)3 in the USA. As far as US government tax and organizational laws are concerned, FCF is CORD Ministries International. CORD Ministries International agrees to annually report and file necessary tax documents on behalf of our activities.
    • There is approximately up to a 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.
    • While CORD Ministries International is an option for all FCF projects, using it as a funding portal is not required. Projects that have a need of shorter funds turnaround, receive funding from non-US countries, or have a need for real time documentation are encouraged to:
      1. Set up a dedicated 501(c)3 in the USA that is managed by the Project.
      2. Set up a registered non-profit in the country in which the project would like to receive funds.
      3. Pursue a partnership with a registered non-profit organization in the desired country of funding that can provide the desired services.
  2. 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, and receive international tax sheltered funds. FCF IS NOT a non-profit foundation. This means that donations given directly to the foundation from within the country are not tax deductible within Thailand. This is a license that we hope to someday obtain but due to complex Thai legal requirements, we do not yet qualify.

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

Account Activity Reports 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, submit an admin service request.

Project Accounting

  • FCF receives hard copy records of every receipted transaction but does not enter individual transactions into our 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.
  • 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 submit an admin service request.


Audit Requests From Donors, Churches & Grantees

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

Annually relevant FCF finances are included in the financial report submitted to the US government by CORD Ministries - a registered 501(c)3. To request a copy of this report, contact The report is only in English.


Annually between January & March, all of FCF financial records are audited by a 3rd party accounting firm to ensure their accuracy. This audit report is submitted annually to the Thai government for review. To request a copy of this report contact The report is available in Thai in April & May and English from June onwards. In addition, FCF submits monthly receipts and reports to a 3rd party auditor for review.

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 all FCF transactions. 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.
  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.

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.

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.

CORD Ministries International Donations

Any FCF project is welcome to process funds through CORD Ministries International.


  1. Complete the project development process with FCF.
  2. Contact and let us know that you’d like to use CORD Ministries International to process funding. CORD Ministries will set up a custom online giving page.


  • Donations are processed by CORD Ministries International and sent to FCF one time per month. Special exceptions can be made for this in rare circumstances. This transaction represents funds donated to FCF in the previous calendar month. Example: A donation is made by check or online gift to CORD Ministries International on June 10th. This transaction is processed, designated and transferred to FCF on July 15th.
  • Once donations are received by FCF from CORD Ministries International, we take 1-3 days to process the transactions and move the money to the project holding account.
  • Funds donated to CORD Ministries International should be made out to CORD Ministries International with the name of the project in the note section.
  • Projects that need faster turnaround time on funding or instant access to records should consider:
    • Starting their own 501(c)3 or non-profit in the country of donation. These funds can then be processed, recorded and sent to FCF as needed.
    • Partnering with an existing 501(c)3 or non-profit that will agree to send funds to FCF as needed.

Cost Share Program

What is the purpose 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 ministries 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 direct a project to deposit funds into FCF’s account as security for monies due and payable to FCF;
  • FCF may impose interest on any late payments at a rate equivalent to the interest rate imposed by its bank plus 2%;
  • 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.

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 it’s own foundation, all items purchased with FCF funds, real estate, and designated project funds, will be transferred to the new foundation. Request for transfer must be received by the FCF Finance Division within 1 year of officially leaving FCF. The nature of the ministry under the new foundation must be similar to that for which the funds were originally donated to 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.