Issues Unique to Community/Public Foundations
Options highlighted in bold are required by law. All other options are voluntary practices that individual organizations can choose to implement.
Community and Public Foundations Only
- We develop broad support in the form of contributions from many separate, unrelated donors with diverse charitable interests in the community served by our organization.
- Contributions to the foundation represent irrevocable gifts subject to the legal and fiduciary control of the foundation's governing body.
- We have a long-term goal of securing resources to address the changing needs of the communities our foundation serves.
- We accept and administer a diversity of gift and fund types to meet the varied philanthropic objectives of donors.
- We have gift and fund acceptance policies.
- During the gift planning process, we fully disclose to the donor the role and relationships of all parties involved.
- Gift planners are aware of and uphold the highest ethical standards and practices as outlined in the work of the National Committee on Planned Giving.
- We educate ourselves, set policy and monitor fund development practices to ensure the best interests of the donors, the public and the beneficiaries of the foundation.
Stewardship and Accountability
- We maintain a written record of the terms and conditions of each component fund, and all records reference the variance power.
- We inform, educate and involve donors about community issues and grantmaking opportunities.
- We honor the charitable intentions of our donors consistent with community needs and applicable laws and regulations.
- Donors are promptly acknowledged for all gifts to the foundation.
- An annual fund statement is provided to donors who wish to receive them.
- Private information about donors is kept confidential, to the fullest extent possible.