The Northern Chautauqua Community Foundation (NCCF) is being recognized for having organizational and financial practices that are in accordance with the National Standards for U. S. community Foundations.  The Council on Foundations and leaders of the community foundation field created the 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 and other not-for-profit practices. 

“Adopting and adhering to high standards is the best way we can demonstrate our ongoing commitment to maintaining the trust of our donors and the entire community,” said Diane E. Hannum, Executive Director of the NCCF.  “We are committed to reaffirming the honesty and integrity that are a hallmark of our foundation.”  Intended both as a blueprint for internal organizational development and as a tangible set of benchmarks for external assessment of performance, the 43 National Standards address six key areas of community foundation operations:

Mission, Structure and Governance, including standards defining board accountability, independence, fiduciary responsibility and representation of the community.

Resource Development, including parameters for administration of funds, disclosures to donors and commitment to building long-term resources for varied community issues and causes.

Stewardship and Accountability, covering prudent investment and management of funds, transparent record-keeping, use of funds for their intended purpose, annual audits, and public availability of financial information, including standards related to due diligence and community responsiveness.

Grantmaking and Community Leadership, including standards related to broad and open grantmaking programs, due diligence, and responsiveness to changing community needs. ·       

Donor Relations, encompassing guidelines for informing, educating and involving donors in responding to community needs.

Communications, including openness to public scrutiny and frequent communications about activities and finances. 

In order to achieve Confirmation of Compliance with the National Standards, community foundations must undergo an extensive review of their organization and financial policies and procedures.  The review is performed by trained, experienced community foundation practitioners.  

“This was quite a process,” said Hannum.  “It required not only the compilation of documents and procedures, but also, and perhaps more importantly, standards compliance required a great deal of thought, reflection and discussion by our Board of Directors.  I am proud of our staff and board for the time and effort which they committed to this important process.  Standards compliance is a mark of excellence in our field.  That we achieved compliance earlier than most other community foundations, particularly considering our smaller size, is quite an achievement.” 

U. S. community foundations serve tens of thousands of donors and administer more than $31 billion in charitable funds.  Of the nearly 700 community foundations in the United States, 500 have pledged to comply with the National Standards.  The Council is currently reviewing community foundations’ practices and confirming compliance with the National Standards. 

The Northern Chautauqua Community Foundation was incorporated in 1986 as a tax-exempt charitable organization.  Since its establishment, the NCCF has distributed more than $5.3 million to the community.  The organization is inherently committed to furthering its mission of enriching the northern Chautauqua community and encouraging local philanthropy. 

The Council on Foundations is a Washington, DC-based nonprofit membership association of more than 2,000 grantmaking 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.  For more information on the Council, visit its website at www.cof.org.