Standard 7: Board Approval of Written Report on Effectiveness - Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.
Friends of Yates, Inc. does not meet this Standard because:
- It did not produce a written report outlining the results of its most recent effectiveness assessment.
Standard 12: Detailed Functional Breakdown of Expenses - Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fund raising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.
Friends of Yates, Inc. does not meet this Standard because, in the organization's financial statements, the detailed functional breakdown of expenses:
- Did not include a breakdown of program service expenses.
- Did not include a breakdown of fund raising expenses.
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.
Friends of Yates, Inc. does not meet this Standard because, when the organization provided budget information, it indicated that the budget:
- Did not identify total projected program service expenses.
- Did not identify total projected fund raising expenses.
- Did not identify total projected administrative expenses.
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.
Friends of Yates, Inc. does not meet this standard because the most recent annual report did not include:
- Total fund raising expenses.
- Total administrative expenses.
- Total end of year net assets.