As stewards of the community’s resources, the Medic One Foundation must act in ways that justify and sustain the community’s confidence, as well as stand accountable for how each of those dollars is spent.
In addition to utilizing Generally Accepted Accounting Principles, we have a number of additional practices in place to address the need for transparency and accountability, including:
- Ensuring that an annual independent audit, supplemented by an independent review, of the agency’s financials is conducted by an outside firm and that those audit results are readily available to the public.
- Ensuring a formal quarterly review of the agency’s financials by the senior management team, the Finance Committee, and the Board of Directors.
- A set of accounting and development policies and procedures that allow us to provide specific detail on all Foundation programs and initiatives.
- An active and knowledgeable Finance Committee that includes members of the community and others outside the organization.
- Careful monitoring of administrative overhead and fund raising expenses with a goal of no more than 25% of resources being allocated to management/fundraising needs.
- A willingness to answer the publics’ questions about any and all expense items.
We continue to seek methods and safeguards to ensure that we are good stewards of the resources provided to us. If you have questions or suggestions, please do not hesitate to contact us at firstname.lastname@example.org.
The Medic One Foundation is federally registered as a 501(c)3 non-profit organization. Our tax ID number is 91-6183158.