Financial Information
Let’s Be Ready was established as a nonprofit to collect money for teachers in Guatemala to start preschools in their homes and other public spaces. The idea was conceived by indigenous women, and 15 years later many of those same women are still teaching and administrating in the program.
Bank Accounts
Let’s Be Ready has a 501c3 corporate account in the USA at Schwab for the contributions we receive. There is a certified accountant on this corporate account. The money is then transferred from the Schwab account to Banco Industrial in Guatemala monthly to reduce exposure to bank failures. Signatures of the directors and the Guatemalan accountant are required to withdraw money. We have direct access to monitor both Guatemalan accounts over the Internet.
The teachers’ stipends are deposited into their personal accounts at Banco Industrial every month. They can withdraw at a teller window or from cash machines in the larger towns near their villages.
The directors and the accountant meet every month to review the expenditures and there are monthly accounting reports.
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