{"id":38696,"date":"2021-09-28T14:01:38","date_gmt":"2021-09-28T05:01:38","guid":{"rendered":"https:\/\/vomkorea.com\/?p=38696"},"modified":"2021-09-28T15:06:21","modified_gmt":"2021-09-28T06:06:21","slug":"vomk-report-172","status":"publish","type":"post","link":"https:\/\/vomkorea.com\/en\/2021\/09\/28\/vomk-report-172\/","title":{"rendered":"VOICE OF THE MARTYRS KOREA RECEIVES CERTIFICATION OF FINANCIAL TRANSPARENCY"},"content":{"rendered":"

[vc_section][vc_row][vc_column][vc_single_image image=”38693″ img_size=”full”][vc_custom_heading text=”The Christian Council for Financial Transparency Korea (CCFK) renewed its certification of Voice of the Martyrs Korea this month, according to CCFK President\u202fHwang Ho Chan.” font_container=”tag:p|font_size:1.2em|text_align:left” google_fonts=”font_family:Noto%20Sans%3Aregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal” el_class=”headline”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n

\u201c<\/span>Voice of the Martyrs Korea received initial accreditation from the\u00a0<\/span>Evangelical Council for Financial Accountability<\/span>\u00a0(ECFA)<\/span>, CCFK\u2019s parent organization\u00a0<\/span>in 2014<\/span>,\u201d said\u00a0<\/span><\/span>P<\/span>resident Hwang<\/span><\/span>.\u00a0<\/span>\u201c<\/span>Upon the formation in 2015 of a Korean\u00a0<\/span>affiliate<\/span>\u00a0of the ECFA, the CCFK,\u00a0<\/span>Voice of the Martyrs Korea has\u00a0<\/span>since then pursued and received\u00a0<\/span>its<\/span>\u00a0accreditation in Korea.\u00a0<\/span>That\u00a0<\/span>accreditation has been renewed\u00a0<\/span>continually\u00a0<\/span>by CCFK, including the present year<\/span>.\u201d<\/span><\/span>\u00a0<\/span><\/p><\/blockquote>\n

[\/vc_column_text][vc_column_text]According to Voice of the Martyrs Korea Representative Dr<\/span>.<\/span>\u00a0Hyun Sook Foley,\u00a0<\/span>financial accountability should be every ministry\u2019s highest priority. \u201cNow more than ever, donors want to be certain that when they give a donation, the money will be used\u00a0<\/span>exactly as the donor intends and as<\/span>\u00a0efficiently as possible<\/span>.\u201d\u00a0<\/span><\/span>\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_single_image image=”38691″ img_size=”full” alignment=”center”][vc_custom_heading text=”Officials from the Christian Council for Financial Transparency Korea (CCFK)\u202fconfirmed\u202fVoice of the Martyrs Korea\u2019s financial transparency\u202fby renewing its certification again this month.\u202fFrom L to R:\u202fChoi Soo Nam\u202f(General manager, CCFK),\u202fHyun Sook Foley\u202f(Representative, VOMK),\u202fEric Foley\u202f(CEO, VOMK),\u202fLee Yoon\u202f(Vice-President, CCFK)” font_container=”tag:p|font_size:13px|text_align:center|color:%230a0a0a|line_height:1.45em” google_fonts=”font_family:Noto%20Sans%3Aregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n

Representative Foley says that Voice of the Martyrs Korea\u00a0<\/span>sought accreditation with ECFA and CCFK as part of its overall commitment to\u00a0<\/span>meeting the highest international standards for financial accountability and transparency. \u201c<\/span>Since the beginning of VOMK 20 years ago<\/span>,\u00a0<\/span>we have felt that\u00a0<\/span>Christian organizations must do more than obey the local laws<\/span>.\u00a0<\/span>We must obey the higher standard\u00a0<\/span>laid out in scripture.\u201d\u00a0<\/span><\/span>\u00a0<\/span><\/p><\/blockquote>\n

[\/vc_column_text][vc_column_text]Representative Foley says that in\u00a0<\/span>accordance with CCFK guidelines, V<\/span>oice of the Martyrs Korea<\/span>\u00a0submits\u00a0<\/span>annually\u00a0<\/span>to a full financial audit and certification of financial statements by an independent auditor.\u00a0<\/span>\u201cWe\u00a0<\/span>also\u00a0<\/span>post our annual audit on our website so that our donors and the general public can see\u00a0<\/span>exactly where money goes when it is donated to Voice of the Martyrs Korea.\u201d\u00a0<\/span>She notes that Voice of the Martyrs Korea\u2019s administrative costs area under 5%, in accordance with NGO best practices advocated by CCFK and other independent financial accountability agencies.<\/span><\/span>\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”38687″ img_size=”full” alignment=”center”][vc_custom_heading text=”Voice of the Martyrs Korea posts its annual financial audits on its website for public review” font_container=”tag:p|font_size:13px|text_align:center|color:%230a0a0a|line_height:1.45em” google_fonts=”font_family:Noto%20Sans%3Aregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal”][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”38689″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Representative Foley\u00a0<\/span>believes there is a growing trend toward donors holding ministries accountable for how their donations are spent.\u00a0<\/span>She says Voice of the Martyrs Korea welcomes that trend.<\/span>\u00a0<\/span>\u201cI think donors should always be able to call and check on a ministry before they make a gift, to know what they can expect in terms of receipts and reports on the projects they are considering funding,\u201d says Representative Foley. She says that she spends one day\u00a0<\/span>each\u00a0<\/span>week traveling\u00a0<\/span>throughout Korea to update Voice of the Martyrs Korea donors individually and in small groups on the progress of ministry campaigns and the ministry\u2019s financial expenditures. \u201cTo us it doesn\u2019t matter if a person gives us 1,000 KRW or 100,000,000 KRW<\/span>. God will hold us accountable for all the funds he directs to us. We should keep donors updated on how their money was spent rather than just asking them for more money.\u201d\u00a0<\/span><\/span>\u00a0<\/span>[\/vc_column_text][vc_column_text]<\/p>\n

Representative Foley hopes that more churches and ministries consult with CCFK on how to be more financially transparent. \u201cWe hear missionaries and ministries saying, \u2018Oh, we can\u2019t sh<\/span>ow any receipts or financial reports about\u00a0<\/span>how we spen<\/span>t<\/span>\u00a0donation<\/span>s<\/span>\u00a0because<\/span>\u00a0our work is secret.\u2019 But\u00a0<\/span>at Voice of the Martyrs\u00a0<\/span>Korea<\/span>\u00a0<\/span>we have been working with underground Christians for 20 years, and\u00a0<\/span>we have always\u00a0<\/span>found a way to receipt and report on our expenses while keeping our field work confidential. O<\/span>ur\u00a0<\/span>experience is that if a ministry consults with groups\u00a0<\/span>like ECFA and CCFK,\u00a0<\/span>they can always find a way\u00a0<\/span>t<\/span>o receipt and report on expenses. What is required is simply to place\u00a0<\/span>a high priority on donor accountability. The truth\u00a0<\/span>is,<\/span>\u00a0many ministries don\u2019t do more receipting and reporting simply because the public\u00a0<\/span>hasn\u2019t yet\u00a0<\/span>demand<\/span>ed<\/span>\u00a0it.\u00a0<\/span>But t<\/span>hat is changing<\/span>. Donors are demanding greater accountability when they donate. Hopefully VOMK and CCFK can help other Christian ministries<\/span>\u00a0increase their financial transparency by sharing what we have learned.\u201d\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/p><\/blockquote>\n

[\/vc_column_text][vc_column_text]For more information on\u00a0<\/span>Voice of the Martyrs\u2019 financial accountability practices and to see its most recent audited financial statements,\u00a0<\/span>please\u00a0<\/span>visit\u00a0<\/span><\/span>https:\/\/vomkorea.com\/about\/financial-accountability\/<\/span><\/span><\/span><\/a>.<\/span>\u00a0<\/span><\/span>\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][\/vc_section]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"[vc_section][vc_row][vc_column][vc_single_image image=”38693″ img_size=”full”][vc_custom_heading text=”The Christian Council for Financial Transparency Korea (CCFK) renewed its certification of Voice of the Martyrs Korea this month, according to CCFK President\u202fHwang Ho Chan.” font_container=”tag:p|font_size:1.2em|text_align:left” google_fonts=”font_family:Noto%20Sans%3Aregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal” …","protected":false},"author":659,"featured_media":38682,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[857,235,869,140],"tags":[],"class_list":["post-38696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-russian-special","category-special-column","category-china-special","category-vomk-report"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"en","enabled_languages":["ko","en","zh","ru"],"languages":{"ko":{"title":true,"content":true,"excerpt":false},"en":{"title":true,"content":true,"excerpt":false},"zh":{"title":true,"content":true,"excerpt":false},"ru":{"title":true,"content":true,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/posts\/38696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/users\/659"}],"replies":[{"embeddable":true,"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/comments?post=38696"}],"version-history":[{"count":0,"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/posts\/38696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/media\/38682"}],"wp:attachment":[{"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/media?parent=38696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/categories?post=38696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vomkorea.com\/en\/wp-json\/wp\/v2\/tags?post=38696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}