FOR IMMEDIATE RELEASE
Council
on Foundations Recognizes Community Foundation of Tompkins County
ITHACA, NY April 18 - The Council on Foundations, a Washington DC-based nonprofit
national membership association of more than 2,000 grantmaking foundations and
corporations, recognized the Community Foundation of Tompkins County for achieving
full compliance with the National Standards for US Community Foundations. This
formal recognition is the result of an extensive year long process of foundation
policy development, document submission and Council evaluation.
As
in the for-profit sector, many non-profit organizations are now facing increased
public scrutiny of financial practices, ethical standards, and managerial effectiveness.
The Council on Foundations addressed these issues by developing 43 National
Standards that provide a framework for internal organizational development and
establish a set of benchmarks for external assessment of community foundation
performance.
“Adopting the National Standards for community foundations underscores our ongoing commitment to earning and maintaining the respect of the Tompkins County community and the trust of our donors as an effective facilitator of community-based philanthropy,” said George Ferrari, Executive Director of the Community Foundation of Tompkins County. "We are honored to have received this Confirmation of Compliance from the Council on Foundations and we will continue to be guided by the National Standards as we work in partnership with donors and non-profit organizations to enhance the quality of life in our community."
In order to achieve the Confirmation of Compliance with the National Standards,
the Community Foundation of Tompkins County underwent an extensive review in
six key areas of foundation operations:
* Mission, structure, and governance, including standards defining board accountability,
compensation, independence, fiduciary responsibility and representation of the
community.
* Resource development, including parameters for fund administration, disclosures
to donors and commitment to building long-term resources for a variety of community
issues and causes.
* Stewardship and accountability, including prudent investment and management
of funds, transparent record-keeping, use of funds for their intended purpose,
annual audits, and public availability of financial information.
* Grantmaking and community leadership, including standards related to broad
and open grantmaking 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
and accessibility.
The review was performed by trained and experienced community foundation practitioners
with experience in foundation management from across the country. They assessed
policies and the practice of those procedures by Community Foundation as meeting
or exceeding the rigorous standards in all six operational areas.
In 2005, the Community Foundation facilitated more than $334,000 in investments
in the Tompkins County community from 144 individual grants. Information
about the mission and operations of the Community Foundation, and guidance regarding
how to invest in the community as a Foundation donor, is available at www.communityfoundation.org
.
Interview
Contact: George P. Ferrari, Jr.
Telephone: 607-272-9333
gferrari@communityfoundationoftc.org
http://www. communityfoundationoftc.org
Community
Foundation of Tompkins County
309 N. Aurora Street , Ithaca , NY 14850
Voice 607-272-9333 or 607-273-8670 Fax 607-272-3030
For additional information on Council on Foundations' National Standards
Contact: Katy Moore, National Standards Coordinator, Council on Foundations
202-467-0401 or Katy.Moore@cof.org
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