Standard 6: Board Policy on Effectiveness - Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.
NYF does not meet this Standard because:
- The board of directors does not have a written policy stating that, at least every two years, an appraisal be done assessing the organization’s performance and effectiveness and determining future actions required to achieve its mission.
Standard 11: Financial Statements - Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $250,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $250,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $100,000, an internally produced, complete financial statement is sufficient to meet this standard.
NYF does not meet this Standard because:
- The organization's audited financial statements did not include an audit of the organization's overseas program. According to the organization's audited financial statements for the year ended June 30, 2010:
"We did not audit the activities of Nepal Youth Foundation in Nepal, which statements reflect total assets of $97,561 as of June 30, 2010, and total support and revenue of $11,310 and expenses of $1,431,111 for the year ended June 30, 2010. Other auditors audited the assets, support and revenue and expenses and furnished their report to us. We based our opinion, insofar as it relates to the amounts included for the activities of Nepal Youth Foundation in Nepal, solely on the report of the other auditors."
Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.
NYF does not meet this Standard because, when the organization provided budget information, it indicated that the 2011 budget:
- Did not identify total projected fund raising expenses.
- Did not identify total projected administrative expenses.
Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
NYF does not meet this Standard because the fiscal year 2010 annual report did not include:
- Total end of year net assets.