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.
Lutheran Child & Family Services of Illinois does not meet this Standard because its board of directors does not:
- Have a voting member of the board who is assigned the responsibility of serving as the treasurer. In general, the board’s treasurer helps provide independent oversight of the organization’s finances.