GLCF Policies / Standards
The Greater Lowell Community Foundation is committed to:
- Improving the quality of life in the communities we serve through philanthropy
- Advocating private giving for the public good
- Providing philanthropic services to donors of all means
- Convening and connecting resources with community needs and opportunities
- Being a source of knowledge on issues affecting philanthropy and the community
- Being held to the highest ethical standards through fairness in policies and procedures, full and objective review of funding requests, and the avoidance of conflict of interest
- Maximizing the impact of its grant and program initiatives
- Participating in the national community foundation field and philanthropy as a whole
- These guiding principles reflect the commitment of the Community Foundation to provide effective stewardship of the charitable resources entrusted to it.
GLCF Policies - click to view
U.S. community foundations serve tens of thousands of donors, administer billions of dollars in charitable funds, and address core concerns of hundreds of communities and regions. Developed in the spirit of accountability, transparency and continuous self -improvement, the National Standards for U.S. Community Foundations are evidence that as community foundations we seek excellence for our communities and our donors.
Hundreds of community foundations have been confirmed in compliance and are displaying the official National Standards Seal that denotes the achievement - including The Greater Lowell Community Foundation. Intended both as a blueprint for internal organizational development and as a tangible set of benchmarks for external assessment of performance, the 41 National Standards address six key areas of community foundation operations:
- Mission, structure and governance, including National Standards defining board accountability, compensation, 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 investment and management of funds, transparent record -keeping, the use of funds for their intended purpose(s), annual audits, and public availability of financial information, including National Standards related to due diligence and community responsiveness.
- Grantmaking and community leadership, including National 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.
The Greater Lowell Community Foundation is proud to be a Certified member of the National Standards of US Community Foundations.