Toward Public Trust and Accountability

Piper Trust requires grant recipients to enact eight best practices recommended by the Panel on the Nonprofit Sector in its exceptional work of 2005.

Form 990

The board, or audit committee, must review the nonprofit’s Form 990 tax return each year before submission.

Audit

A nonprofit with $1 million or more in annual revenue must have an annual independent audit and should establish an audit committee with financially literate membership.

CPA Review

A nonprofit with annual revenues between $250,000 and $1 million must have financial statements reviewed by an independent CPA.

Conflict of Interest

The nonprofit must adopt a strict conflict of interest statement that the staff and board annually review and sign.

CEO Compensation

The full board of the nonprofit must approve any change in the CEO’s compensation.

Travel Reimbursement

The nonprofit must have travel policies with clear guidelines on types of expenses that can be reimbursed and the documentation required for reimbursement.

Board Size

The nonprofit must have a minimum of three members on its governing board, and at least one-third of the members should be independent.

Whistleblower Policy

The nonprofit must establish policies and procedures that encourage individuals to come forward with credible information about illegal actions or violations of adopted policies.

For More Information

Download the Panel on the Nonprofit Sector's 32-page Guide to Principles for Good Governance and Ethical Practices: A Guide for Charities and Nonprofits...

Download Independent Sector's Checklist for Accountability for specific information and examples of policies...