TRANSPARENCY
Financial transparency will help preserve the very-important trust each donor places in us with each contribution. Additionally, and no less importantly, conduct that is accountable and transparent earns employees' trust and creates a positive workplace culture. Earning trust through financial transparency and accountability goes beyond what the law requires.
Quarterly Reports
Annual Reports
Form 990
501(c)(19) Determination Letter
Ten ways we can demonstrate financial transparency
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Be honest in solicitation materials and truthful and clear in communications with donors about how their gifts will be or have been used.
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Adopt a conflict of interest policy with a disclosure statement that all board and staff review annually.
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Adopt an executive compensation policy to ensure that the full board is aware of, and approves, the compensation of the executive director/CEO.
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Ensure that the board of directors reviews timely financial reports and also reviews the IRS Form 990 prior to filing.
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Adopt sound financial management policies, including internal controls, to ensure accountability.
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Be clear about who is accountable for the nonprofit’s expenditures by adopting expense policies, such as a travel expense reimbursement policy (requiring prior approval and limiting expenditures to what is reasonable.)
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Be candid about the tax-exempt status of the nonprofit on the organization’s website.
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Be candid also about who is on the board of directors by publishing a list of names on the organization’s website.
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Post financial information on the nonprofit’s website, such as a copy of the organization’s recent IRS Form 990, audited financial statements and annual reports, as applicable.
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Respond appropriately to requests for copies of financial reports, as required by the IRS public disclosure requirements.