National Standards for U.S. Community Foundations Posted 2009-12-18 by MCF
Marietta Community Foundation in Top Philanthropic Tier
Nationally
Local Organization Meets
Rigorous Standards for Quality and Accountability
Marietta, Ohio – Marietta Community Foundation recently received notification
that it has met the nation’s highest philanthropic standards for operational
quality, integrity and accountability. The notice 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 Marietta Community
Foundation 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. With over 456
community foundations already confirmed in compliance nationwide, the program
is designed to provide quality assurance to donors, as well as to their legal
and financial advisors.
“This
is critically important to our donors,” said William Thompson, Marietta Community Foundation President. “When people make a
charitable bequest, establish a fund or set up an annuity, they are putting
their trust in us. 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 confirmation says our house is in order.”
Marietta
Community Foundation offers a range
of charitable funds, allowing donors to advance a cause such as education or
the environment, support an individual organization, provide flexible support
for community needs or recommend individual grants. In addition to affirming
the organization’s
philanthropic services, the confirmation
validates Marietta Community
Foundation’s grantmaking practices for the nonprofit community.
“Some
say it’s easier to create wealth than to give money away wisely,” said Mark
Schwendeman, Marietta Community
Foundation board chair. “There’s some truth in that. Grantmaking is a lot like
investing… we need to assess risks, weigh potential gains, diversify assets,
monitor performance and operate fairly. When you see the National Standards
Seal, you can be assured that we’re committed to meeting the highest standards
for grantmaking as well.”
The
National Standards for U.S. Community
Foundations program is the first of its kind for charitable foundations in the United States.
Through
philanthropic services, strategic investments and community leadership, Marietta
Community Foundation helps people support the causes they care about, now and
for generations to come.
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.
“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 Marietta Community
Foundation has demonstrated a commitment to operational quality, integrity and
accountability.”