National Standards Compliance
Community Foundation Passes Rigorous National Standards Test
In a time of heightened scrutiny of the non-profit sector, the Community Foundation of Eastern Connecticut (CFECT) has been recognized by the Washington, DC- based Council on Foundations (COF) for employing operational and financial practices that are in compliance with the Council’s National Standards for community foundations. The National Standards promote common legal, ethical and operational practices that demonstrate the foundations’ transparency and financial accountability.
In order to meet the 35 separate standards, community foundations must undergo an extensive evaluation of their organizational and financial policies and procedures by a team of national reviewers. Areas for review include mission, structure and governance; resource development, stewardship and accountability; grant making and community leadership; donor relations; and communications.
“Since its inception in 1983, the Community Foundation of Eastern Connecticut has been committed to building trust through sound policies and ethical practices. Our mission is to transform eastern Connecticut into a more vital, caring community. We are pleased to receive this affirmation by the Council because it underscores our commitment to excellence, accountability and outstanding service to our donors, grantees, and the region,” said Alice Fitzpatrick, president of CFECT.
The foundation’s objectives are to strengthen the community by building a substantial, enduring endowment; to define and meet regional challenges by reinforcing and connecting community resources; and to magnify the impact of individual generosity through grants, scholarships, and targeted initiatives.
Comprised of more than 400 discrete charitable funds, the Foundation stewards an endowment of $45 million and has awarded more than $28 million in grants and scholarships to area nonprofits and students since its founding in 1983. For donors, CFECT offers a complete toolkit for charitable giving, expert assistance in learning more about the causes they care about, and the opportunity to join others with similar interests to learn and give together. For the community at large, CFECT offers a permanent, growing source of grant monies, as well as a common meeting ground and leadership on important issues in our region.