While it is the law, we are also morally and ethically bound to ensure that all funds from Prana are being used only for its mission. Prana will conduct due diligence activities to ensure that any organization that it intends to support is not associated with terror in any way or form. We will also not fund any political organizations.

The due diligence activities include:

Pre-Funding Background Check

1. Specially Designated Nationals (SDN) (http://www.treas.gov/offices/enforcement/ofac/sdn/) list of the Office of Foreign Assets Control of the US Treasury Department.
2. Local public records when possible
3. Copies of Governmental records of the organization as and when necessary
4. Referral from a Prana board member, or  at least 2 external references
5. Site visits as appropriate
6. Partner organizations pre-certify that organizations are in compliance to the organizations as well as the programs mission.

Post Funding Funds Traceability

Maintain records showing the usage of funds and fund flow from Prana to the grassroots.

1. Funds will be issued via check and or wire transfer.
2. Micro loan records are maintained by the partner organization (grantee). Records include contact information of borrower as well as usage of funds and repayment schedule.
3. Loans monitored on a weekly basis by the staff of the partner organization. Grantees file periodic reports on the program. These reports are monitored to estimate the effectiveness of the program as well as any misuse of funds.
4. Periodic site visits by Prana’s staff ensure that funds are being used according to Prana’s mission.