Non-Repayable Grant
Purpose of a Non-Repayable Grant
The purpose of a non-repayable grant from YouMe Support Foundation is to fund high achieving students who would otherwise be unable to receive a high-school education.
All grants shall be given in accordance with the Memorandum and Articles of YouMe Support Foundation Ltd registered in Vanuatu.
Objective
The objective of YouMe Support Foundation is to provide assistance to children of communities that are geographically and economically disadvantaged and receive little or no assistance from the government.
Primary Goal
The primary goal of YouMe Support Foundation is to advance the interests of these communities and their children, through a program and project that will give their high achieving students an opportunity for education, they would not otherwise receive.
Expected Results and Outcomes
Funding under this Program is anticipated to result in:
Community awareness
- Communities will have a brighter hope for their children
- The communities will be able to take great pride in the achievement of their outstanding students
- Primary teachers will be encouraged as they see added results to their dedication, rather than just see high achievers disappear into the village
Individual Achievements
- High achieving and dedicated children will have the same choices other children in developed countries are given
- Students will have an increased awareness and use of modern technologies and the opportunities this offers them
- These students will inspire other children to become high achievers
Long Term Results of the Program:
- These students will use their new gained knowledge for the betterment of their village (health, economical progress in agriculture and other finance producing ideas for the village, education
- Increase participation of the program by other disadvantaged community members.
- Use their new knowledge to assist adult members e.g. begin learning to read and write programs when they return to their villages during holidays
- Uses their new found knowledge to create viable and growing community economics
- Students will be encouraged to participate in teaching sessions in their home village as they demonstrate their new found knowledge.
- Teachers at the schools the students attend, will be encouraged to assist the students to impart their knowledge in their home village
- Successful community adjustment both for the students and their families will be closely monitored
- Create mechanisms for community, other donor organizations working in the area and government coordination and collaboration in the program
- Encourage the village communities to implement strategies that promote sustainable development using the knowledge these students bring back to the village
- An improved economical environment in the villages the students are drawn from
- Encourage the students innovation, entrepreneurship and sustainable growth in their community
Needs of the Program
- Identify and examine major issues related to these high achieving students and their family’s situation
- Promote links between these students and students in other countries, via the medium of the Internet
- Understand the strategies and policies needed to address the economic development needs of these distance communities
- Understand the aspirations of individual students and their commitment to the program
Eligibility Criteria
- Students must be recommended by their past teachers
- Past academic records must be available
- Students must be endorsed by their village elders
- Student’s family must agree to the program
- No student may be recommended simply on family connections
Grants will be for the purposes with the objectives of the program and restricted to individual students with the proper recommendations.
The Grant Will Cover:
- The fees of the school
- Housing allowance to a foster family for housing the student, if the student lives outside the school
- Costs of uniform and books etc
- A small weekly allowance will be given to the student as spending money
- Health care will be provided for the student
- Travel costs from the village to the school
Grants will be made for specific purposes or to meet specified objectives in support of meeting the programs objectives, as approved by the Board of Directors of YouMe Support Foundation
Repayable Contributions
Further grants for tertiary education may be applied to certain high achieving students, according to the direction of the Board of Directors of YouMe Support Foundation.
Such grants being subject to the student signing an agreement to either return to their home village for a period of two years, upon completion of the tertiary education, or to agree to repay the grant over a period of five working years.
Payment Provisions
Grants will be paid in installments, based on the cash flow requirements of the recipient, in accordance with the goals and objectives of the program.
No money will be advanced prior to the requirement of the recipient.
Payments will be firmly policed by an accredited accounting firm and the Board of Directors of YouMe Support Foundation.
All payment to be documented and minuted in the Foundation’s books.
Through due diligence practices, YouMe Support Foundation, will establish reasonable assurance that grant recipients will use the funds for specified purposes, or to meet specified objectives.
Payments will be made on the basis of documented claims for eligible costs incurred and paid and or the fulfillment of conditions specified in the contribution agreement being met.
A portion of the contribution will be held back, prior to completion of the term of the payment, to ensure the recipient meets the programs requirements.
Any recipient not meeting the terms and goals of the program will be liable to repay the contribution in full.
Administration of the Grant
Grants will be administered and paid according to written agreements. The rights and obligations of all parties and conditions under which the payment shall be clearly identified.
Due Diligence
YouMe Support Foundation has and will maintain adequate program and financial controls, systems, procedures and resources to ensure strict adherance to the goals and purpose of YouMe Support Foundation. Due diligence in approving transfer payments, verifying entitlement, eligibility and results achieved by the program and for management and administration and follow-up programs.
Information Requirements
Every recipient must provide any pertinent information needed to asses the project including:
- a detailed description of the students past performance
- a detailed description of the students aspirations for the future
- the suitability of the school to provide the necessary care and tuition to achieve the Foundation’s goals for the program
- the forecast prediction of the fees and costs (only a small percentage will be permitted per annum)
- a full disclosure of family connections
- any other information that may have a bearing on the outcome of the project
Audit
YouMe Support Foundation retains the right to examine and have audited contribution recipient’s books, records and financial statements for the purpose of validating claimed results, claims for reimbursement of eligible costs, and for the purpose of confirming amounts repayable to the recipient on the basis of the Contribution Agreement. Audits to be performed by qualified auditors satisfactory to YouMe Support Foundation Board of Directors.
Recovery
If for any reason the recipient is not entitled to payment, or the amount of payment exceeds the amount to which the recipient is entitled, the amount owing shall be recoverable.
Where for any reason the recipient otherwise fails to meet or contravenes a term or condition of the Contribution Agreement, the Foundation, taking into account the circumstances arising to the contravention, may require the recipient to rectify the contravention within a prescribed period and inform the Foundation in writing that the recipient has corrected the default.
Any failure to meet this criteria, may result in the termination of the Contribution Agreement.
Evaluation
The program will be evaluated in accordance with the goals and aims of the Foundation and constence with the Memorandum and Articles of the Foundation.
Environment
In administering the program the Foundation will ensure that the environmental consequences of its policies, plans and programs are consistent with broad sustainable environmental developments and goals.
Conflict of Interest
Any person, organization or recipient found to be in a conflict of interest issue with the Foundation will be asked to step aside from the program.
Public Acknowlegement
YouMe Support Foundation shall at all times comply with the government requirements of the country the program operates in.