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.
Preservation Foundation of the Lake County Forest Preserves 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.
Standard 8: Program Service Expense Ratio - Spend at least 65% of its total expenses on program activities.
Preservation Foundation of the Lake County Forest Preserves does not meet this Standard because:
- According to the its audited financial statements for the fiscal year ended June 30, 2015, the organization spent $234,123 or 49% of its total expenses ($481,294) on program service activities.
Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.
Preservation Foundation of the Lake County Forest Preserves does not meet this Standard because, when the organization provided budget information, it indicated that the budget:
- Did not identify total projected administrative expenses.
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