Financial Accountability And Organizational Integrity

The governing board shall be comprised of responsible individuals:

  • The majority of whom are Canadian residents
  • Who are not employees of the Foundation, or otherwise receive compensation from the foundation, except as authorized by law

The governing board shall:

  • Hold at least two full-agenda meetings each year
  • Create policy for the foundation
  • Maintain effective control over the Foundation
  • Establish a proper financial reporting system which permits the production of annual operating statements and a balance sheet, showing reasonable detailed information that is factual and accurate in all material respects; identifies government grants and contributions separately from other contributions; and is prepared in accordance with generally accepted accounting principles established by the Canadian Institute of Chartered Accountants
  • Ensure that the Foundation at all times operates within the limits of, and in accordance with, the objects in its governing documents
  • Take seriously its responsibility to be conversant with and comply with federal, provincial and municipal laws and regulations
  • Ensure that the Foundation is open and accurate in all its dealings
  • Not permit any officer, member of the governing board, or staff member of the Foundation to receive royalties for the use of any property of such person that is used for fundraising or promotional purposes by the Foundation
  • Not permit the payment of fees for service that is based on a percentage of funds raised or is based on another form of paying commissions
  • Ensure that the Foundation appropriately serves the interests of each contributor or potential contributor and representatives of the Foundation make it clear that the concern of the Foundation when addressing a contributor or potential contributor is to nurture responsible stewardship on the part of the contributor
  • Avoid questionable motives or programs that are not factual, or negate the contributor's sound judgment
  • Require responsible stewardship on the part of our representatives through effective training and cost controls
  • Ensure that the Foundation, or its representative, does not by any means, either directly or indirectly, induce a contributor or other constituent to transfer to it a benefit from any other foundation or purpose
  • Ensure that all government prescribed returns such as the Registered Charity Information Return (T3010) and voluntarily produced reports will be prepared factually, accurately and on a timely basis
  • Ensure that sufficient funds will be spent on administration and fundraising (where appropriate) to assure effective and efficient management of our resources
  • Ensure that the Foundation meets or exceeds its disbursement requirements imposed by section 149.1 of the Income Tax Act, Canada
  • Review the cost-effectiveness of our programs and report thereon in our annual report