Financial Updates from Niall regarding expense reports and tracking of material and labor purchases.
UPDATE: JAN 26, 2010
As you all know, we try our best to be an transparent as possible with BeeHive School and especially in showing where your donations are going. As of today, Jan 26, 2010, we have raised $4621.68. Niall broke ground on the new school site several weeks ago and has since spent 1461002 Malawian Kwacha, which is about $9839.85 USD (0.006375 Exchange Rate Jan 26, 2010). This total does not include any legal fees - Niall is paying for legal fees out-of-pocket and through the help of the school's PTA and other community members.
Follow the link below for a detailed breakdown of everything that Niall has purchased so far:
Katy has sent a test wire transfer through eTrade to Niall of $200 today. There is a low, $25 wire transfer fee. We are doing a test just to make sure everything goes smoothly. If everything goes smoothly and there is no reason it should not, we will transfer the rest of the $4421.68 to Niall by the end of the week or at the latest early next week. This will give Niall the necessary capital to keep on building. We are hoping to raise more funds in the coming months to push forward the construction effort.
Besides asking for donations, Niall is also looking into zero interest loans for the short term, so if you know of any sources he can turn too, please contact us asap!