Financial Integrity
InterVarsity Christian Fellowship/USA is a charter and current member in good standing of the Evangelical Council for Financial Accountability. It is our pledge to maintain the highest ethical code of financial accountability and reporting consistent with responsible Christian faith and practice.
InterVarsity has had its financial statements audited since 1941. Our audits are performed by independent certified public accountants.
Doctrinal Basis
Each member of the Corporation, Board of Trustees, staff and any council of reference signs yearly a statement of faith which includes the following basic biblical truths of Christianity:
- The unique divine inspiration, entire trustworthiness and authority of the Bible.
- The deity of our Lord Jesus Christ.
- The necessity and efficacy of the substitutionary death of Jesus Christ for the redemption of the world and the historic fact of his bodily resurrection.
- The presence and power of the Holy Spirit in the work of regeneration.
- The expectation of the personal return of our Lord Jesus Christ.
Read more here.
Tax-Deductibility
InterVarsity is a non-profit organization begun by students which exists to build collegiate fellowships and engage the campus with the gospel. Gifts to this ministry are tax-deductible and are administered according to strict legal guidelines and an approved plan and budget.
All funds sent to InterVarsity for your Global Program are under the control of InterVarsity and are to be used exclusively for Global Program expenses as authorized by the Board of Trustees of InterVarsity. Anything given to you for personal spending is NOT tax-deductible.
Refunds
According to the IRS, once a receipt is issued to the donor, no amount may be refunded to you or the donor if you do not attend a Global Program. The funds will be used for the Global Program and cannot be reimbursed either to you or to your donors.
Budget Breakdown
Every Global Program is different. Global Program directors will try as best they can to assess the various cost components of the program in light of the exchange rate of the currency you will be using. Determining room, board, and transportation can be tricky nine months before a program begins, which is why the cost of a program may change. The exact breakdown of program costs can vary depending on where you go. In general, here is how the budget looks.
International travel - 53%
Usually, more than half of a program's expenses consist of round-trip international airfare and visa costs. Since directors and staff are there exclusively to help the students, part of their travel is built into the student fees. Students are financially responsible for getting to the city of departure.
Program site costs - 16.6%
This is mainly the cost of room, board, and travel within the country where you will be serving.
Administrative services - 13%
This is the cost of providing each program with accounting services; setting up and monitoring tax-deductible accounts for each student; providing directors with administrative help; responding to student questions and requests; printing and processing applications, brochures and fundraising materials; mailing and phoning, and handling the administrative and logistical aspects of all Global Programs.
Training/Debriefing - 11%
In the spring months you will receive materials which will help you prepare for the summer. The cost of buying and mailing these materials is included here. Also, each Global Program is required to have a time of orientation and debriefing to prepare to enter and exit a host culture. Orientation might include learning about the history and customs of the people, what the Lord is doing in the country, learning the language, and beginning the process of bonding as a team. Debriefing will focus on what God has been saying to you and how you can make significant changes to reflect all you've learned. There will also need to be time to prepare to re-enter your home culture.
Program set-up costs - 4.1%
These are costs associated with faxing, phoning and visiting the ministry site before the program begins in order to insure that all details are in place and that the program is a success.
Pre-field training for staff - 2.3%
InterVarsity is a student organization. Our staff takes its work very seriously. Each program usually includes some costs for staff to meet together before the program or for the director or staff to receive training in order to be effective in their work with you during your trip. There may be a debriefing time for directors, which is budgeted.
