Accounting & Transparency
How the fund is managed, reviewed, and held accountable
to the people it serves.
The Restitution Fund for Victims of Psychic Fraud is a privately administered fund designed to provide financial assistance to individuals who have been victims of psychic fraud.
It is funded by a portion of the membership fee of Psychic Credibility Supporters who pay $4.99 per month for this and other benefits. Direct contributions are also accepted.
The information shared below is to provide transparency regarding how funds are collected, accounted for, and independently verified.
Two separate checking accounts are maintained:
- Operating Account: Receives all Psychic Credibility Supporter membership revenue
- Restitution Fund Account: Holds funds designated exclusively for restitution purposes
Funds in the Restitution Fund Account are restricted for restitution use only.
A fixed amount of $1.00 per active monthly membership (20% of the membership fee) is allocated to the Restitution Fund.
- Transfers are made once per month (at the beginning of each month for funds collected the previous month) from the Operating Account to the Restitution Fund Account
- Transfers are labeled: PCS Restitution Allocation – [Month/Year]
Voluntary contributions to the Restitution Fund are accepted and deposited directly into the Restitution Fund Account.
These contributions are not tax-deductible, as the Restitution Fund is a privately administered fund, not a 501(c)(3) tax exempt organization.
Recordkeeping
A monthly record is maintained documenting:
- Number of active members
- Total membership revenue collected
- Amount transferred to the Restitution Fund
- Donations received
- Restitution payments made
- Current fund balance
Restitution payments are made from the Restitution Fund Account on a periodic basis, typically once or twice per year, based on available funds and qualifying applications.
The Restitution Fund is subject to regular independent review or verification by Assurance Dimensions, an independent audit and assurance firm, to confirm that funds are allocated and used as described.