Standard 1: Oversight of Operations and Staff - Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.
ASMBASF does not meet this Standard because its board of directors does not:
- Have a voting member of the board who is assigned the responsibility of serving as the treasurer. In general, the board’s treasurer helps provide independent oversight of the organization’s finances.
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.
ASMBASF does not meet this Standard because:
- The board of directors held one in-person meeting of the full governing board in the fiscal year ended March 31, 2011.
Standard 7: Board Approval of Written Report on Effectiveness - Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.
ASMBASF does not meet this Standard because:
- It did not produce a written report outlining the results of its June 2011 effectiveness assessment.
Standard 13: Accuracy of Expenses in Financial Statements - Accurately report the charity's expenses, including any joint cost allocations, in its financial statements. For example, audited or unaudited statements which inaccurately claim zero fund raising expenses or otherwise understate the amount a charity spends on fund raising, and/or overstate the amount it spends on programs will not meet this standard.
ASMBASF does not meet this Standard because its IRS Form 990 for the fiscal year ended March 31, 2011:
- Reports the organization had no fund raising expenses.
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.
ASMBA STAR Foundation does not meet this Standard because, when the organization provided budget information, it indicated that the budget:
- Did not identify total projected fund raising expenses.