Community Foundation of Northern Illinois recognized for philanthropic excellence
The Community Foundation of Northern Illinois (CFNIL) recently received accreditation with the nation’s highest standard for philanthropic excellence. National Standards for U.S. Community Foundations® establish legal, ethical, effective practices for community foundations everywhere.
“Meeting the National Standards benchmarks is a rigorous, comprehensive process,” said Randy Royster, Chair of the Community Foundations National Standards Board. “This accreditation is a significant accomplishment that indicates CFNIL demonstrates a commitment to transparency, quality, integrity and accountability as it carries out its mission.”
The National Standards for U.S. Community Foundations® program requires community foundations to document their policies for donor services, investments, grantmaking and administration. With over 500 community foundations already accredited nationwide, the program is designed to provide quality assurance to donors, as well as to their legal and financial advisors.
“National Standards accreditation helps to assure that we’re providing the highest quality of service to our donors while keeping a keen eye on statutory and regulatory compliance, and best practices in the community foundation field,” said CFNIL President Jon Bates.
Through its scholarship program and diverse grantmaking, CFNIL supports community needs and offers a range of charitable endowments, allowing donors to advance a cause, support an individual organization, provide flexible support for the region, or recommend individual grants. In addition to affirming the organization’s philanthropic services, the accreditation validates CFNIL’s grantmaking practices for the nonprofit community.
“As Chair of the Board of Trustees, the certification reassures the Board that the promise we make to donors, grant recipients and not-for-profits that CFNIL is not only a conscientious steward of the funds entrusted with us but that we act responsibly and impartially to wisely invest those funds in the region as well,” said CFNIL Board Chair Nancy Hyzer. “The application process was exhaustive but it prompted us to reexamine how we operate and revise many of our bylaws and policies which should greatly enhance CFNIL’s future performance. Recognized by Congress, state legislatures, and government regulators as the only accreditation program for community foundations, it evaluates our policies, procedures, and practices from both a legal and best practices perspective.”
National Standards for U.S. Community Foundations® is the first program of its kind for charitable foundations in the United States. Through philanthropic services, strategic investments and community leadership, CFNIL helps people support the causes they care about, now and for generations to come.
The Community Foundations National Standards Board is a supporting organization of the Council on Foundations and is responsible for the quality, value and integrity of compliance with National Standards. For more information on the National Standards Board, visit its website at www.cfstandards.org.
The Community Foundation of Northern Illinois has been a regional leader in philanthropy since 1953. CFNIL serves as a catalyst for giving in order to attract, preserve, and grow an endowment for the needs of Northern Illinois.