Standard 3: Frequency and Attendance of Board Meetings - An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.
IMF does not meet this Standard because:
- Although the board of directors held three meetings for the fiscal year ended September 30, 2010, the meetings were not evenly spaced.
Standard 4: Compensated Board Members - Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.
IMF does not meet this Standard because:
- 2 members out of the 16 member board of directors (13%), are paid staff. In addition, one of these paid members is the chair of the board.
Standard 19: Cause Related Marketing - Clearly disclose how the charity benefits from the sale of products or services (i.e., cause-related marketing) that state or imply that a charity will benefit from a consumer sale or transaction. Such promotions should disclose, at the point of solicitation: (a) the actual or anticipated portion of the purchase price that will benefit the charity (e.g., 5 cents will be contributed to abc charity for every xyz company product sold), (b) the duration of the campaign (e.g., the month of October), (c) any maximum or guaranteed minimum contribution amount (e.g., up to a maximum of $200,000).
IMF does not meet this Standard because:
- The organization has cause-related marketing promotions on its website that indicate a portion of purchases will benefit the organization, however, these promotions do not disclose the specific amount or the anticipated percentage of the purchase price that will benefit the charity.