We have worked extensively in the field of international development for large donors such as the EU and multi-lateral agencies such as the UN. Sometimes donors or private sector philanthropists need to manage funds. These are grants, and are usually from multiple sources and to muliple beneficiaries and intended to support all manner of situations: #social, #environmental, #relief, #disasters, #climatic, #wildlife, #community, #causes. So it is very important that those funds are not wasted on unnecessary fees.
Often because there is no alternative, they may use the UN system to manage such grants. Using the UN system, such as the Multi Partner Trust Fund based in New York, these then contract partner UN offices in beneficiary countries (WHO, UNICEF, UNOPS etc), which can then transfer funds to beneficiaries in those countries such as CSOs. Apart from generating lengthy delays, this UN process is highly expensive, charging from 7% upwards for merely making a transfer and entering in the accounts. Indeed, the costs can be far higher. There appear to be many variations, depending on the type of fund.
The beneficiary loses in terms of lost time and money. In addition, monitoring is limited to only financial monitoring, that the funds were transferred. In some cases, another project would be launched to check whether the funds were used for the appropriate purpose and the result was achieved. This would be charged as extra, reducing the money left for the benefiicaries.
We knew we could do better.
Hubconsult's "#company in the #cloud" solution reduces those administration cost of managing grant funds whether from single donors or from #pooled funds. Hubconsult provides you with your own Project Account in #Xero (and has much lower #charges than say through the #UN #MPTF.)
Hubconsult's charges to provide this service can be reduced drastically (typically to as little as 2%) but we will need to know more about the structure of your grant or fund, and the service you need in order to commit to a price schedule.
Clearly, we're not as well known as the UN, so you'll want to find out more about us, and discuss with us how this can work. Indeed, once you've checked out the features on https://hubconsult.com, we would like to more details from you to discuss your project and how we can support it.
Hubconsult can be used too to crowdfund for your project too. We want to minimise the admin costs of managing such funds for #NGOs and #donor grant funds, and therefore to retain more for the real work . you are doing to provide support for ultimate beneficiaries - people in need after climatic disasters, terrorism, and all sorts of development projects.