Trinidad and Tobago Transparency Institute (TTTI) seeks funding from a wide range of donor agencies, the private sector, individuals, membership fees, and income from advisory, consultancy and investment engagements. Funding from diverse sources of income assists TTTI to maintain its independence, operate effectively and enhance sustainability of the organisation and vital anti-corruption interventions.
It is also TTTI‘s policy to accept funding provided that acceptance does not:
- Impair TTTI’s independence to pursue its mission
- Endanger its integrity and reputation
The Board is primarily responsible for ensuring the Institute has the funds it needs and does not spend beyond its means.
This Policy applies to all fundraising for TTTI, regardless of types of donor or amounts involved, unless otherwise stated in this document. It is to be applied to all new funding from existing donors and to all new donors in the future. It does not apply to income raised from the sale of publications or from fees for participation in conferences, events and other activities. Appropriate care to protect the reputation of TTTI and TI should always be taken.
- Enable TTTI to diversify and expand its resource base to support the achievement of the strategic plan, goals and overall growth of the Institute.
- Improve institutional understanding of the current and future donor funding landscape, resource availability and support requirements.
- Guarantee maximum utilisation of internally generated income so as to expand deep relationships with stakeholders.
Sources of funds
The major source of institutional receipts shall be grants received from local or foreign agencies, international corporations, foundations, non-governmental organizations, business enterprises or philanthropists.
TTTI shall also engage in income generating activities including consultancies, sale of institutional merchandise, asset disposal, investment ventures, institutional events including conferences and integrity campaigns among other activities.
Fees from membership and interest income shall constitute institutional income.
- Funding to enable TTTI to carry out its work should be sought from a wide range of sources. Care should be taken to ensure that project-related funding does not result in undue influence over TTTI’s programme work. Subject to maintaining TTTI’s independence and reputation, TTTI may accept funding from all kinds of sources. Project-related funding must cover a portion of the Institute’s operating overheads – directly or indirectly.
- TTTI should list all grants over $250,000.00 and publicly disclose them, including in its Annual Report and on its website.
- If there is a significant risk that receiving funds from a particular source would impair TTTI’s independence or if there is a significant risk to TTTI’s reputation from public association with the donor, then funding from that source must not be accepted.
- Any grant to TTTI must be able to stand up to public scrutiny. TTTI’s independence requires that a grant may be subject to the same criticism by TTTI as any other organisation or individual in a comparable situation. A funder accused of having been involved in corruption can expect no protection from TTTI.
- TTTI should not accept a grant from a company that is found to have engaged in corruption unless the company can demonstrate that this was a violation of the company’s policies, that breach of these policies is being addressed in an appropriate manner, or that its policies have been amended to proscribe a similar violation in future. TTTI works with companies on the understanding that they are working towards a business environment in which bribery is not accepted.
- It is the responsibility of the Board of Directors and staff of TTTI to ensure that TTTI’s independence and reputation are not jeopardised.
- If any staff or Board member of TTTI is concerned that there is a threat to TTTI’s independence or reputation from a grant already received, or about to be accepted, the person(s) should draw this to the attention of the Chair, Treasurer or Secretary of the Board of TTTI.
- The Board will conduct a due diligence review on all new sources of funding before accepting funds from a specific agency or donor to ensure alignment to this Policy.
- On a quarterly basis, the Board of Directors shall review institutional fundraising progress and donor relation management and advice accordingly.
For continuing adequacy, suitability and relevance, this policy shall be subjected to review and Board approval, annually or as need arises.