Tab 28: Evidence that Fund Statements Are Available
The community foundation should demonstrate that fund statements are provided, and show the frequency of fund statement distribution.
Material Changes: For the purposes of reconfirmation, a material change is any change that decreases the frequency of the distribution of fund statements. If the organization only changed the method of distributing fund statements (e.g., paper to electronic statements), no documentation is required.
For more information, review Core materials, FAQs and a glossary of important terms
Related Standards
VI. Donor Relations
VI.C A community foundation provides fund statements, at least annually, to those donors who wish to receive them.
Key Elements
- Frequency of fund statement distribution
- Distribution of fund statements
- If statements are only provided on an opt-in basis, evidence of how that option is communicated to donors
Required Documents
- Sample fund statements
- Policy or procedure for providing fund statements
- Language in marketing materials
My foundation does not provide fund statements for all fund types.
If your foundation does not provide fund statements for all fund types, please provide evidence that fund statements are provided to those donors who wish to receive them and/or that your foundation communicates to donors the option to receive fund statements. Evidence of this could be a written policy/procedure for providing fund statements to donors for a variety of fund types over time, or language in your marketing materials (or other public materials) notifying donors of the option to request fund statements.
Additionally, your community foundation should demonstrate that fund statements are provided, and show the frequency of fund statement distribution. One way to satisfy this requirement is to include sample fund statements issued over a period of time.
A statement from the community foundation which details the activity of a fund including grants paid, contributions made, summary of activity and fund balances.
Reconfirming?
Review all key elements and consider if your organization has made changes to your policies, powers or practices.
Pay special attention to key elements and core materials marked with ![[R icon]](/images/icon_reconfirm_body.gif){kind=icon}
and a ![[P icon]](/images/icon_pension_body.gif){kind=icon}
. These represent minimum requirements for reconfirmation as well as Pension Protection Act requirements. Items marked with a are particularly critical for those who submitted record books prior to January 2007.
Document your compliance with each of these items as well as with all other key elements where support materials may have changed.
