The Lake Area Foundation knows that a community foundation is founded and operated for public benefit and has a well-defined, articulate mission. To help ensure the integrity of the Foundation's operations we have applied for membership to the Council on Foundations.
About the Council on Foundations: The Council on Foundations and leaders of the community foundation field created National Standards in 2000 to aid community foundations in establishing legal, ethical and effective operational practices that would show the foundations' transparency and financial responsibility in light of the increased public scrutiny of foundation practices.
The Council on Foundations is a Washington, DC-based nonprofit membership association of more than 2,000 grant making foundations and corporations. The Council provides the opportunity, leadership and tools needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good.
The Council on Foundations and its members promote the highest standards of ethical behavior. In recognition of the importance of philanthropy toward the public good and those they serve, members adopt these ethical principles.
Council members are committed to the public benefit and to their philanthropic purposes and act accordingly.
Council members manage their resources to maximize philanthropic purposes, not private gain; and actively avoid excessive compensation and unreasonable or unnecessary expenses. They pursue maximum benefit through their work, how they work, and by supporting the work of partners, colleagues and grantees.
Accountability and Transparency
In carrying out their philanthropic activities, Council members embrace both the letter and the spirit of the law. They welcome public interest, take responsibility for their actions and communicate truthfully.
Diversity and Inclusiveness
Council members seek diversity and inclusiveness in order to reflect the communities they serve and to ensure that a range of perspectives contribute to the common good and the development of their mission in a changing society.
Council members' governing bodies understand and embrace their responsibility to oversee the mission, strategic direction, finances and operations of their respective organizations, and do so honestly and with integrity. They establish clear and understandable policies and ensure that they are followed.
Members interact respectfully with grantees, colleagues, donors and peers.
The Lake Area Foundation is waiting for the Council on Foundations to approve our application for membership. The Lake Area Foundation hopes to soon be able to start working toward achieving National Standards Compliance from the Council on Foundations.