Nicaragua
Air Cuba is a constantly growing company. With huge profits which are not essential to the survival of the company's air Cuba decided to remit monthly 10% of its profits, which represents roughly $ 130M per month. Annually, this amount rises to $ 1.6G. The goal for January 2012 will receive a check for $ 2.4G for this year is $ 200M per month. Obviously, if the amount is 10% higher than $ 200M is this 10% that counts. Here is a current distribution of grants on an annual basis ($ 1.6G):
Utility | Percentage | Amount |
Health | 25% | 400M$ |
Education | 25% | 400M$ |
Debt payment | 30% | 480M$ |
Roads | 9.5% | 152M$ |
Safety and decriminalization | 10% | 160M$ |
TOTAL | 99.5% | 1.592G$ |
The remainder (0.5%) is used to finance the activities of a community center in Nandaime, in the province of Granada. It is called Centro Comunitario Arnolfo Oscar Romero (CCOAR). The center's mission is to get the kids from the barrios of Nandaime interresser to the other activities for them. Here is a breakdown of donations annually:
Utility | Percentage | Amount |
Funding of C.C.O.A.R. | 0.3% | 4.8M$ |
Opening other centres all over Nicaragua | 0.2% | 3.2M$ |
TOTAL | 0.5% | 8M$ |
Financing activities and pays the salaries of CCOAR. The opening pays the necessary funding to open similar centers across Nicaragua and hire employees.
This money is closely monitored by Air Cuba to ensure it is well spent. If a waste is observed, the company cut its funding.