Standard 1: Oversight of Operations and Staff - Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.
Franciscan Works does not meet this Standard because its board of directors does not:
- Review the performance of the chief executive officer at least once every two years.
- Have an approved conflict of interest policy.
- Receive a copy of the organization’s financial statements.
Standard 11: Financial Statements - Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $500,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $500,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.
Franciscan Works does not meet this Standard because:
- It states it does not have audited financial statements for the past fiscal year.
Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
Franciscan Works does not meet this standard because the most recent annual report did not include:
- The organization’s mission statement
- A roster of the board of directors
- Total end of year net assets.
Standard 17: Web Site Disclosures - Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.
Franciscan Works does not meet this Standard because the organization's website, www.franciscanworks.org, does not include all of the recommended information for those charity websites that solicit for donations. Specifically, it does not include:
- Total income.
- Total program expenses.
- Total fund raising expenses.
- Total administrative expenses.
- End of year net assets.
- Electronic access to the organization’s most recent IRS Form 990.