It's important that charitable nonprofits continuously earn the public’s trust through their commitment to ethical principles, transparency, and accountability.
As tax-exempt public charities, charitable nonprofits embrace the values of accountability and transparency as a matter of ethical leadership, as well as legal compliance.
The goal of internal controls is to create business practices that serve as “checks and balances” on staff, board, and/or outside vendors to reduce the risk of misappropriation of funds/assets.
While there is no single definition of “best practices” for nonprofits, there are recognized ethical standards and accountability practices that every staff and board member should be aware of.
State charity regulators and the nation’s 1.5 million charitable and philanthropic organizations share a common goal: protecting the public’s trust in the charitable sector.