Policies & Oversight
Credibility and good management go hand in hand. Here at the United Way of Tri-County we take seriously the proposition that we are the custodian of the public trust. Ensuring that we manage our donors' funds in a professional and accountable fashion is our promise to you. Below you will find a description of our governance and oversight policies for your review.
Please feel free to call Paul Mina, President & CPO of the United Way of Tri-County at 888-811-3291 ext. 4824 or via e-mail at paul.mina@uwotc.org if you require further explanation.
Governance
The United Way of Tri-County is one of 1,340 independently operated United Way organizations in our country. We are a "community building" organization that raises funds through an annual campaign, annually assesses needs and invests financial and other resources in both short and long term solutions. We're governed by a volunteer board of directors who live and work in our region.
Our service area includes:
Middlesex County Worcester County Norfolk County Framingham Berlin Bellingham Ashland Blackstone Valley East Walpole Holliston Millerville Franklin Hopkinton Clinton Medfield Hudson Lancaster Medway Marlborough Millville Norfolk Maynard Northborough Norwood Stow Westborough Sheldonville Woodville Bolton South Walpole Fayville Walpole Hopedale Wrentham Mendon Milford Southborough
Accountability
The United Way system has guidelines for reporting campaign results and for calculating overhead. These guidelines are documented and detailed in the following publications:
Functional Expenses and Overhead Reporting Guidelines for United Way’s Campaign Reporting and Spending Guidelines (available upon request)
These guidelines are under continual review and periodic assessment by both United Way of America and member United Way organizations. The ever-changing environment in which we work, coupled with donor requirements, warrants a continuously renewed dedication to standards that exceed public expectations.
Value to the Community
The American Institute of Certified Public Accountants states that program expenses that deliver services to the community are not considered overhead. This is commonly misunderstood. In fact, some expenses are directly attributed to valued (direct or indirect) services to the community. For United Ways these services could include Information and Referral, public policy activities, volunteer development, and community needs assessment. United Way's proactive adherence to Functional Expenses and Overhead Reporting Guidelines makes us an industry leader in terms of donor-responsiveness, consistency, and clarity regarding the questions and concerns of efficiency, costs, and value to our communities.
Operating Efficiency
No one number or percentage can ever define operating efficiency for organizations as diverse as those in the philanthropic arena, in general, or for 1,340 United Ways, in specific. However, the Better Business Bureau has defined what they consider to be "acceptable" overhead rates, which is one measure of efficiency:
- Better Business Bureau acceptable overhead rate - 50%
- Federal Guidelines (CFC Campaign) - 30%
- United Way of Tri-County - 16.30%
United Ways understand that the donor-public is concerned about the cost of fundraising and other expenses. In that regard, United Ways continually strive for efficiency without sacrificing service to the community.
Oversight
The United Way of Tri-County has a multi layered oversight process to ensure that the donors' money is appropriately managed and invested. Professional Oversight: trained professional staff working in our finance department perform the day to day management and oversight of our funds. They report directly to the President & CPO who in turn is responsible to the finance committee, executive committee and the full board of directors. For the past 8 years our annual independent audit has been rendered "without comment", which is the accountability level we strive for.
Finance Committee: the finance committee, a standing committee of the board of directors, is chaired by our treasurer and is responsible to the executive committee and the board of directors. Members of the finance committee are all financial professionals from the business community.
Independent Auditors: At the end of each fiscal year, we undergo an independent audit to ensure that our management and accounting practices are where they should be. Additionally, an Audit committee works directly with the independent auditing firm to ensure the highest possible transparency.
Board Of Directors and President: ultimately all responsibility for financial oversight of the organization rests with the board of directors and President of the organization.
