Standards of Responsible Stewardship
We subscribe to a written statement of faith clearly affirming its commitment to the evangelical Christian faith, and shall conduct its financial and other operations in a manner which reflects those generally accepted biblical truths and practices.
Board of Directors and Audit Committee
We are governed by a responsible board of not less than five individuals, a majority of whom shall be independent, which shall meet at least semiannually to establish policy and review its accomplishments. The board or a committee consisting of a majority of independent members shall review the annual audit and maintain direct communications between the board and the independent certified public accountants.
Audited Financial Statements
We obtain an annual audit performed by an independent certified public accounting firm in accordance with auditing standards generally accepted in the United States of America (GAAS) with its financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
Use of Resources
We exercise the management and financial controls necessary to provide reasonable assurance that all resources are used (nationally and internationally) in conformity with applicable federal and state laws and regulations to accomplish the exempt purposes for which they are intended.
We provide a copy of its current audited financial statements upon written request and provide other disclosures as the law may require. An organization must provide a report, on written request, including financial information, on the specific project for which it is soliciting gifts.
Conflicts of Interest
We avoid conflicts of interest. Transactions with related parties may be undertaken only if all of the following are observed: 1) a material transaction is fully disclosed in the audited financial statements of the organization; 2) the related party is excluded from the discussion and approval of such transaction; 3) a competitive bid or comparable valuation exists; and 4) the organization’s board has acted upon and demonstrated that the transaction is in the best interest of the member organization.