Community Foundation of Northeast Iowa Receives National Recognition
August 23, 2016
The Community Foundation of Northeast Iowa has been reconfirmed in its accreditation with the nation’s highest standard for philanthropic excellence. National Standards for U.S. Community Foundations® establish legal, ethical, effective practices for community foundations everywhere. CFNEIA originally achieved national accreditation in 2005 and has remained the only local accredited community foundation to date.
The National Standards for U.S. Community Foundations® program requires community foundations to document their policies for donor services, investments, grantmaking and administration. The program is designed to provide quality assurance to donors, as well as to their legal and financial advisors.
“This is critically important to our donors,” said Kaye Englin, CFNEIA President and CEO. “When people establish a fund or make a planned gift, they are putting their trust in us. They are counting on us to manage the investment wisely and honor their charitable wishes. The National Standards accreditation demonstrates a commitment to transparency, quality, integrity and accountability.”
Accreditation also ensures donors have the opportunity to take advantage of the Endow Iowa tax credit program. This program of Iowa Economic Development allows donors supporting their community through a gift to qualified endowed funds with accredited community foundations to receive a 25% state tax credit in addition to federal tax deductions for charitable giving.
CFNEIA administers over 800 charitable funds, allowing donors the option to advance a cause, support a specific organization or project, and provide flexible support for community needs.
In addition to affirming the organization’s philanthropic services, the accreditation validates CFNEIA’s grantmaking practices for the nonprofit community. CFNEIA works to meet critical community needs and support local causes in seven core areas including; art and culture, community betterment, education, environment, historic preservation, health, and human service.
“Making grants to nonprofits contributing to the enrichment of our communities is why we work hard for accreditation,” said Jay Bullerman, Chair, CFNEIA Board of Directors. “It ensures our oversight, processes, and fund management all work to maximize our grant impact. With our National Standards accreditation, you can be assured that we’re performing at a high level and operating fairly.”
National Standards for U.S. Community Foundations® is the first program of its kind for charitable foundations in the United States. The Community Foundations National Standards Board is a supporting organization of the Council on Foundations and is responsible for the quality, value and integrity of compliance with National Standards. For more information on the National Standards Board, visit its website at www.cfstandards.org.