Foundation Meets Rigorous Standards for Quality and Accountability
The Philadelphia Foundation – the oldest and the largest foundation serving Southeastern Pennsylvania – meets the nation’s highest philanthropic standards for operational quality, integrity and accountability. The recognition comes from the national Council on Foundations in Washington, D.C.
The National Standards program is a vigorous peer-review process administered by the Council on Foundations, an association of more than 2,000 charitable giving programs. The Philadelphia Foundation was among the first group of foundations to receive national standards recognition, which has since been reconfirmed.
The recognition is similar to the Good Housekeeping Seal for foundations. It says that The Philadelphia Foundation has demonstrated a commitment to operational quality, integrity, accountability and transparency.
The National Standards program requires community foundations to document their policies for donor services, investments, grantmaking and administration. The program is designed to provide quality assurance to donors and to their legal and financial advisors.
When people make a charitable bequest, establish a fund or set up an annuity, they are putting their trust in us. They count on our professional staff to manage the investment wisely, honor their charitable wishes and, in some cases, provide lifetime income to a loved one. The National Standards confirmation says that our house is in order.
Grantmaking is a lot like investing: people need to assess risks, weigh potential gains, diversify assets, monitor performance and operate fairly. When you see the National Standards Seal, you can be assured that we are committed to meeting the highest standards for development, stewardship and grantmaking.