For the third time, the Princeton Area Community Foundation has met the nation’s highest standard for philanthropic excellence.
“Meeting the National Standards benchmarks is a rigorous, comprehensive process,” said Randy Royster, Chair of the Community Foundations National Standards Board. “This accreditation is a significant accomplishment that indicates the Princeton Area Community Foundation continues to demonstrate a commitment to transparency, quality, integrity and accountability as it carries out its mission.”
National Standards for U.S. Community Foundations® establish legal, ethical, effective practices for community foundations everywhere. It requires community foundations to document their policies for donor services, investments, grantmaking and administration. The accreditation program is designed to provide quality assurance to donors, as well as to their legal and financial advisors. The Princeton Area Community Foundation has been accredited since the measurement was established in 2005.
“When people make a charitable bequest or establish a fund, they are putting their trust in us. They are counting on us to manage the investment wisely and honor their charitable wishes,” said Jeffrey M. Vega, President & CEO of the Community Foundation. “Our continued participation in the National Standards accreditation process affirms our commitment to excellence, in our work with donors, nonprofits and the community.”
The Community Foundation works to meet critical community needs and support local causes, including children and adolescents living in poverty.
The Community Foundation offers a range of charitable funds, allowing donors to advance a cause, support an individual organization, provide flexible support for community needs or recommend individual grants. In addition to affirming the organization’s philanthropic services, the accreditation validates the Community Foundation’s grantmaking practices for the nonprofit community.
“Grantmaking is a lot like investing,” said Carol P. Herring, the Community Foundation’s Chair of the Board of Trustees. “We need to assess risks, weigh potential gains, diversify assets, monitor performance and operate fairly. With our National Standards accreditation, you can be assured that we’re doing just that.”
National Standards for U.S. Community Foundations® is the first program of its kind for charitable foundations in the United States.
The Princeton Area Community Foundation promotes philanthropy and builds community across Mercer County and central New Jersey. It helps people and companies make effective charitable gifts and awards grants to nonprofits. Since its founding in 1991, the Community Foundation has grown into an organization with more than $120 million in assets and made grants of over $75 million, including $16 million in 2015.
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.