How much do you think I made as the CEO of the Savong Foundation last year?
You would be correct if you came up with the exact number of -$5168.36. Yes, that’s right, it’s a minus because I earned $0 but with personal donations, advertising, travel expenses and other miscellaneous costs, I’m in the hole for over $5000 for 2015. I certainly don’t regret spending the money; I like to direct as much money towards our student programs as possible and I realize there are personal costs associated with running a nonprofit.
At the Savong Foundation, very little money is spent on administrative expenses. In fact, last year, over 98% of our income was put towards program expenses. We were able to achieve this number because none of our board members get a salary and we only had two paid staff members, our scholarship manager and our computer teacher. We don’t have an office and we don’t have team building getaways in expensive hotels.