Over the last few weeks, the Federation’s Audit Committee approved our 990 tax forms to be submitted to the IRS and our Finance and Budget Committee reviewed our current year and proposed budget for next year. It sounds pretty unexciting and uninspiring, doesn’t it? But that is really misleading.
I typically write about the impact Federation has with our direct work and our support of the community. However, having strong fiscal standards is critical for any nonprofit organization. Donors want to know that the dollars they choose to voluntarily donate are spent wisely and that the organization is not only abiding by the rules set out for the nonprofit sector by the government, but exceeding those standards. Our Audit and Finance committees are comprised of some of the brightest and most accomplished in their respective fields and they are able to help oversee our operations.
Next week, we will hold our quarterly Investment Committee meeting to guide the investments of our foundation, now approximately $320 million, with an equally accomplished and sophisticated committee of volunteers. Our ability to do so much good in the community is only possible if the Federation is operating well and I can state that we are, indeed, operating well.
Wishing you a Shabbat Shalom and a very happy Mother’s Day.