BBB Logo

Better Business Bureau ®
Start With Trust®
Central Virginia
Standard 16

Have an annual report available to all, on request, that includes:

  1. the organization's mission statement,


  2. a summary of the past year's program service accomplishments,


  3. a roster of the officers and members of the board of directors,


  4. 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.

Information Needed from Charity to Determine Compliance

The charity provides its latest annual report.

Application:

The Alliance considers the following points in its review of the charity's annual report:

  • The report includes all the elements (a) through (d) cited above. Any missing elements (for example, the charity's ending net assets) will result in the charity not meeting this standard.


  • The annual report may have a title other than "annual report," such as "statement of accomplishments," "annual review," "progress report," "report to donors," etc. As long as the recommended information is included, the charity meets this standard.


  • The annual report does not have to be an expensive, glossy publication. A few word-processed pages are adequate.


  • An annual report that is available online is sufficient to meet this standard as long as a hard copy of the report is sent to inquirers who do not have Internet access.


  • The roster of the board of directors that appears in the annual report should identify the officers of the organization (i.e., chair, treasurer, and secretary).