The Charities Review Council, an independent resource for people who support charities, announces that Students Today Leaders Forever (STLF) is the first organization to complete its Accountability Wizard review featuring the Council’s new Accountability Standards.
“Our highest responsibilities are to make the biggest impact possible with the time, energy and resources we are so fortunate to receive from our community of supporters and donors. The Accountability Wizard review is a great way to educate and guide our organization to a level of accountability that builds trust and transparency with our donors and supporters,” said Brian Peterson, executive director of STLF.
The Accountability Wizard is an online, educational assessment tool that helps nonprofits align with sound policies, practices and procedures as reflected by the Accountability Standards. Initially drafted in 1998, the Accountability Standards were recently updated by the Council to reflect economic, demographic, legal and societal changes. The revised Accountability Standards address charity performance in four critical areas: public disclosure, governance, financial activity and fundraising. A major focus of the new standards is the importance of engaged and effective governance. Accordingly, there are standards that address the areas of good governance reflected in the questions posed by the new IRS Form 990.
Other additions to the standards include:
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measuring and communicating accomplishments in terms of community impact;
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protecting donor information;
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limiting consecutive board terms;
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assessing and strengthening diversity and inclusivity.
Financially, changes include allowing for greater infrastructure expenses as a necessary investment for nonprofits, and a more accurate analysis of a charity’s financial health. The Council also extended the time a nonprofit has to complete its review — from 60 days to a full-year — encouraging nonprofits to take advantage of the technical assistance offered by the Charities Review Council to help meet all of the standards.
“The updated Accountability Standards and changes to the Accountability Wizard make it easier for nonprofits to participate in our reviews and to align with sound governance and organizational practices,” said Rich Cowles, executive director of the Charities Review Council. “We congratulate STLF for becoming the first nonprofit to earn the Meets Standards seal under the new Accountability Wizard and Accountability Standards,” Cowles said.
“The new Accountability Wizard creates a clear and easy-to-use online system that guides the nonprofits to answer a series of questions, upload required documents and policies and enter financial information,” Peterson said. At the time of STLF’s first review in 2007, it was a newly-formed organization. Since STLF requested a review while it was still in its infancy, it was reviewed under a special category for newly-formed organizations. STLF was the first newly formed organization to complete a review under the New Organization Policy. “Being a new organization started by college students, we wanted to make sure we were on the right path for running a successful nonprofit,” says Peterson.
“Ultimately, charities that meet the standards provide peace of mind for donors who want assurances that they’re making smart giving decisions in supporting accountable, transparent and trustworthy organizations,” Cowles said.
For more information about the Charities Review Council, visit www.SmartGivers.org or (800) 733-GIVE.
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About The Charities Review Council:
The Charities Review Council’s mission is to mobilize informed donors and accountable nonprofits to advance the greater good. It is dedicated to empowering donors in making informed and thoughtful giving decisions so they can be more effective in helping charities advance their important community work. For more information about resources and tips for donors and nonprofits, visit the Charities Review Council at www.smartgivers.org, or call (651) 224-7030 or toll-free 1-800-733-GIVE.
About STLF:
STLF was founded in September 2003 by four University of Minnesota freshmen who hoped to make a difference by inspiring youth leadership through service, relationships and action. Since then, the organization has grown to serve a national and diverse range of thousands of college, high school and middle school students by providing opportunities in service and leadership through three main programs:
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Pay it Forward Tour: Engages students in a traveling leadership experience focused on service, education and reflection.
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High School Leadership Camp: Focused, intensive leadership experience. Students build lasting relationships and discover personal and transferable skills and leadership.
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Forward Impact: Young people are returning from STLF experiences inspired to carry out commitments of action and service in their own lives and communities.