January 10, 2007
MEETS NATIONAL STANDARDS
FOR QUALITY, ACCOUNTABILITY
For more information, Debra
L Dodson
Danville, Va. – The Community Foundation of the Dan River Region has received notification that it has met the nation’s highest philanthropic standards for operational quality, integrity and accountability. The recognition comes from the Council on Foundations, a national professional association based in Washington, D.C.
“This is
similar to the Good Housekeeping Seal for community foundations,”
said Steve Gunderson, Council on Foundations president and chief executive
officer. “It says that The Community Foundation of the Dan River
Region has demonstrated a commitment to operational quality, integrity
and accountability.”
The National Standards for U.S. Community Foundations Program requires
community foundations to document their policies for donor services, investments,
grantmaking and administration. The program is designed to provide quality
assurance to donors, as well as to their legal and financial advisors.
Of 700 community foundations across the country, 230 have demonstrated
full compliance with the National Standards.
“This is critically important to our donors,” said Debra L.
Dodson, executive director of The Community Foundation of the Dan River
Region. “When people make a charitable bequest, establish a fund
or give an individual donation, they are putting their trust in us. We
are committed to building a transparent organization that serves our community
with integrity.”
The National Standards for U.S. Community Foundations program is the first
of its kind for charitable foundations in the United States. The Council
on Foundations and leaders in the community foundation field created the
national standards in 2000 to help community foundations establish the
highest and most effective legal, ethical and operational practices.
The 43 National Standards, which serve as a blueprint for operations
and as benchmarks for performance, focus on six key areas:
• Mission, Structure and Governance, including standards defining
board accountability, compensation, independence, fiduciary responsibility
and representation of the community.
• Resource Development, including parameters for administration
of funds, disclosure to donors, and commitment to building long-term resources
for varied community issues and causes.
• Stewardship and Accountability, covering prudent investment and
management of funds, transparent record keeping, use of funds for their
intended purpose, annual audits, and public availability of financial
information, including standards related to due diligence and community
responsiveness.
• Grantmaking and Community Leadership, including standards related
to broad and open grantmaking programs, due diligence, and responsiveness
to changing community needs.
• Donor Relations, encompassing guidelines for informing, educating
and involving donors in responding to community needs.
• Communications, including openness to public scrutiny and frequent
communications about activities and finances.
To achieve confirmation of compliance, The Community Foundation of the Dan River Region underwent an extensive review of its organizational and financial policies and procedures. The process of demonstrating compliance took more than three years.
“The achievement of certification through the National Standards
is an accomplishment we at The Community Foundation announce with pride,”
said Constance N. Fletcher, president of The Community Foundation. “It
is a tribute to the very hard work of our staff and board.”
With current assets totaling more than $16 million, The Community Foundation
is a public charity established in September 1996 by a steering committee
of civic leaders to meet a variety of social, educational, cultural and
other charitable needs in the community. The Foundation serves a region
from Martinsville and Henry County to South Boston and Halifax County,
including Danville, Pittsylvania County and the neighboring North Carolina
counties.
In its 10 years, The Community Foundation has granted approximately $5
million to area nonprofit organizations and $565,000 in scholarships to
more than 190 students.
For more information, contact The Community Foundation at its office,541 Loyal Street, P.O. Box 1039, Danville, Va. 24543, (434)
793-0884, or visit its website at www.cfdrr.org
The Council on Foundations is a Washington-D.C.-based nonprofit membership
association of more than 2,000 grantmaking foundations and corporations,
with assets totaling more than $280 billion. The Council provides the
opportunity, leadership and tools needed by philanthropic organizations
to expand, enhance and sustain their ability to advance the common good.
For more information on the Council, visit its website at www.cof.org
THE COMMUNITY FOUNDATION OF THE DAN RIVER REGION
541 Loyal Street
P. O. Box 1039
Danville, Virginia 24543
Ph: (434) 793-0884 Fax: (434) 793-6489
E-mail: communityfoundation@gamewood.net
