Your gifts matter. You matter.
Your gifts matter. You matter. That’s why the Northshore Schools Foundation takes very seriously our Pledge of Stewardship. It is very important to us that our organization demonstrates integrity, transparency and respect when it comes to stewardship of your gift.
Our Pledge to You:
- Your gift will be honored and respected.
- Your gift will be acknowledged in a timely and personal manner.
- A gift accepted with a restricted purpose will be used for that purpose.
- Whenever feasible, and especially with gifts of endowment, annual reports will be shared with you.
- You will be properly recognized, and any public recognition will first be approved by you.
- The value of any “substantial” benefits resulting from a gift will be reported to you.
- Gifts will be accounted for using generally accepted accounting principles, which will provide a consistent, timely, and accurate reporting of all gifts into the Foundation’s official financial record.
Our Standard of Excellence
- Our financial records are reviewed annually by a group of independent accounting experts from our community.
- Our Finance Committee and members of our Board of Directors meet with the reviewers to identify ways to improve our financial practices.
- Our review is open to the public as required by law, and our financial statements are available by request.
- We have a strong system of internal controls to avoid the situation where one individual controls the finances. The following steps are operated by separate personnel:
• Open the mail and document all mailed payments, prepare the deposits, make the deposits, do the accounting of the deposits and write the check.
- Our Treasurer meets monthly with our Finance Committee to review the financial statements and evaluate variances of income and expenses from budgeted amounts.
- Each member of the Board of Directors receives a summary report of this information for discussion at each board meeting.
- We carry insurance to protect the agency and our contractors from any misuse of funds.
- Our insurance portfolio includes general liability, professional liability, Directors and Officers Errors and Omission, employee dishonesty, employment practices coverage, and an umbrella policy to extend the limits to three times the Foundation’s operating budget.
• Two signatures are required for each check.
• We use computer-generated checks and require written authorization for every payment.
• All donors receive a receipt that meets the requirements for federal tax deductions within 14 days of receipt by the Foundation.
We believe these practices demonstrate responsible stewardship to our clients and donors. We hope it will make you feel confident in continuing to support us.