The following article appeared in Sarasota News Leader on September 19, 2024:
Nonprofit among first such organizations to be accredited by Council on Foundations, in 2006
The National Standards board is a supporting organization of the Council on Foundations (COF), the release notes
The Community Foundations National Standards® “establish legal, ethical, effective practices for community foundations everywhere,” the release explains.
“Meeting the National Standards benchmarks is a rigorous, comprehensive process,” said Susie Nelson, board chair of National Standards, in the release. “This accreditation is a significant accomplishment that indicates Gulf Coast Community Foundation demonstrates a commitment to transparency, quality, integrity, and accountability as it carries out its mission,” she added.
“The Community Foundations National Standards® program requires community foundations to document their policies for donor services, investments, grantmaking, and administration,” the release points out. With more than 550 community foundations already accredited nationwide, the release continues, the program is designed to provide quality assurance to donors and their legal and financial advisers.
“This achievement is critically important to our donors,” said Gulf Coast President and CEO Phillip Lanham in the release. “When individuals make a charitable bequest or establish a fund,” he continued, “they put their trust in Gulf Coast Community Foundation. They are counting on us to manage the investment wisely, honor their charitable wishes, and, in some cases, provide lifetime income to a loved one. The National Standards accreditation says our house is in order,” Latham added.
“Maximizing the opportunity to operate at the highest level and strengthen our policies enables us to provide the best possible service to our region,” he pointed out.
The Council on Foundations introduced the program in 2005. “Gulf Coast was among the first foundations to achieve accreditation, in early 2006,” the release notes.
“Grantmaking closely resembles investing,” said Gulf Coast Chief Financial Officer Carol Martin Brown in the release. “We need to assess risks, weigh potential gains, diversify assets, monitor performance, and operate fairly. With our National Standards accreditation, you can be assured we are doing just that.”
“Community Foundations National Standards® is the first program of its kind for charitable foundations in the United States,” the release adds.
