I'm thinking the Governing Body needs to improve its Corporation's transparency, and that it has a fudiciary duty towards all members to do so. Yet it makes very little information availible to check. Instead they play a Corporation shell game where nobody outside a choosen few have any idea of what is going on, a cloak of secrecy. They don't even list thier tax returns with the IRS on thier web site very fishy for an corporation that is the only one who has God Almighty's backing.
http://nonprofit.about.com/od/nonprofitfinances/tp/guidetotransparency.htm
Unfortunately, many people do not trust some nonprofits to use their donations wisely. By being completely transparent about your finances, you can make sure potential donors don't have any reason to distrust your organization. Use this checklist to make your nonprofit more transparent.
1. Is Your Charity Listed on the IRS List of Tax-Exempt Charities?
The IRS maintains a list of registered nonprofits that are eligible to receive tax-deductible charitable contributions. If you are a registered nonprofit in good standing, make sure that your name appears on this list. IRS Site
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2. Have You Updated Your Listing at GuideStar?
GuideStar publishes your 990 information from the IRS. But, you can also include much more information about your organization by updating your listing with your mission, programs, leaders, goals, accomplishments, and needs. GuideStar is one of the first stops when a donor or a foundation is looking for information on a nonprofit. GuideStar Site
3. Is Your Charity Rated at CharityNavigator?
This watchdog organization rates 501(c)(3) charities based on their financial efficiency, among other factors. Not all nonprofits are on its list, but it does provide a guide for donors looking for solid nonprofits. CharityNavigator assesses the ratio of overhead expenses (particularly fundraising expenses) to a nonprofit's overall budget. Donors want most of a nonprofit's revenue to go toward its programs. CharityNavigator cannot evaluate every nonprofit, but by following its criteria for highly-rated organizations, you can bolster your reputation among donors. CharityNavigator Site
4. Does Your Nonprofit Have a Better Business Bureau Accredited Charity Seal?
The Wise Giving Alliance at the Better Business Bureau provides a way for citizens to check up on nonprofit behavior just like they can do with businesses. Anyone can check its site to make sure a nonprofit has met the BBB's standards for accountability.
Have you read the Better Business Bureau's Wise Giving Alliance Standards for Charity Accountability? Charities that meet those standards can become accredited and display the accredited charity seal. The Alliance's Standards for Charity Accountability provide an excellent road map to any prospective nonprofit for setting up its organization in the most ethical way.
5. Do You Post Your 990 on Your Website?
Your IRS form 990 tax return is a public document. It is available to the public through the IRS, and on websites such as GuideStar. You must have a copy available in your office for people who inquire. Why not make it easy to find by posting it on your website as well?
In addition to your 990, put contact information on your site, a list of your board of directors and senior staff, and consider posting your most recent audit and a summary of the most recent board activity and decisions made.
What You Need to Know About IRS Form 990
6. Do You Know What the Sarbanes-Oxley Act Is?
The Sarbanes-Oxley Act was passed in 2002 by congress to remedy some of the accounting shortcomings of publicly-traded companies. However, it provides a number of "best practices" that many nonprofits have adopted in order to provide transparency to their organizations. Get to know Sarbanes-Oxley, and how other nonprofits are applying it to their financial management. Sarbanes-Oxley and Nonprofits
More About Transparency and Accountability
- No More Bull: Lessons in Branding From the Financial Meltdown
- How Business-Like is Your Nonprofit?
- Attract More Donors by Improving Your Trustworthiness Score
- Give Without Getting Taken
- Checking on Charities - Green Living
- How Do Donors Choose a Charity?
- Charitable Giving - How to Make Sure You Are Giving to a Legitimate Charity
- Charitable Giving and You
Joanne Fritz
Nonpro
http://en.wikipedia.org/wiki/Corporate_transparency
Corporate transparency
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Corporate transparency describes the extent to which a corporation's actions are observable by outsiders. This is a consequence of regulation, local norms, and the set of information, privacy, and business policies concerning corporate decisionmaking and operations openness to employees, stakeholders, shareholders and the general public.
Standard & Poor's has included a definition of corporate transparency in its GAMMA Methodology aimed at analysis and assessment of corporate governance. As a part of this work, Standard & Poor's Governance Services publishes the Transparency Index calculated as the average score for the largest public companies in various countries. Transparency International publishes an index of corporate transparency based on public disclosure of anti-corruption programmes and country-by-country reporting.
Corporate transparency is also used to refer to radical transparency in corporate governance
http://en.wikipedia.org/wiki/Fiduciary
A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has funds entrusted to it for investment. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence. —Lord Millett, Bristol and West Building Society v Mothew [ 1 ]
A fiduciary duty [ 2 ] is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): he must not put his personal interests before the duty, and must not profit from his position as a fiduciary, unless the principal consents