We passed!

AAACF is one of the first community foundations to be considered in full compliance with a new set of National Standards for U.S. community foundations imposed by the Council on Foundations (COF).

COF and leaders of the community foundation field created the Standards in response to increased public scrutiny of foundation practices. The 43 Standards are designed to establish legal, ethical and effective operational practices for community foundations and to show our transparency and financial responsibility.

More than 480 community foundations, out of approximately 700 nationwide, have declared their intent to comply with the voluntary National Standards. AAACF was among the ‘first wave’ of community foundations to apply, and the first in the state of Michigan to be awarded with a compliance certificate. The certificate is good for five years, after which a renewal process will be put in place.  

Intended both as a blueprint for internal organizational development and as a tangible set of benchmarks for internal assessment of performance, the 43 National Standards address six areas of community 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 administration of funds, disclosures to donors and commitment to building long-term resources for varied community issues and causes

·        Stewardship and accountability, covering prudent investment and management of funds, transparent record-keeping, use of funds for their intended purpose, annual audits, and public availability of financial information, including standards related to due diligence and community responsiveness

·        Grantmaking and Community Leadership.

·        Donor Relations, encompassing guidelines for informing, educating and involving donors in responding to community needs

·        Communications, including openness to public scrutiny and frequent communications about activities and finances.

Starting in January, 2006, AAACF will be able to use a national seal in our communications in marketing efforts – a sort of ‘Good Housekeeping’ seal of excellent philanthropic operations. Watch for it on this website and in our publications!