Faribault Foundation Achieves National Accreditation

The Faribault Foundation is proud to announce that we have achieved National Accreditation by the National Council on Foundations Community Foundation National standards review board.

Laura Bock, Faribault Foundation Executive Director said, “National accreditation gives donors confidence that their philanthropy is in good hands. It reflects our commitment to responsible stewardship, so charitable dollars can make the greatest possible impact in the Faribault community.”

Accreditation involves an independent review of 26 standards, ensuring operational excellence, integrity, and accountability, covering areas like governance, finance, donor relations, grantmaking, and community leadership, helping foundations prove their commitment to best practices beyond legal minimums and build public trust.

Foundation Board Chair Christine Shaffer-Brown had this to say about the accreditation achievement; “Receiving national accreditation is a significant milestone for the Faribault Foundation. It reflects the dedication of the board, staff and our partners to ensure the Foundation operates at the highest standards.”

The Foundation board and staff submitted documentation that proved our proficiency in each of the 26 standards.

The standards focus on:

• Mission & Governance: Independent, representative boards, clear mission, financial health.

• Resource Development: Ethical fundraising, proper gift acknowledgment.

• Stewardship & Accountability: Financial policies, confidentiality, conflict of interest, clear fund agreements.

• Grantmaking & Leadership: Responding to needs, community engagement, evaluating impact, managing Donor-Advised Funds (DAFs).

• Donor Relations: Clear fund policies, transparent processes.

• Communications: Consistent messaging about mission and impact.

Key Areas Covered by the Standards

• Legal & Financial: Articles of Incorporation, Bylaws, Policies (Confidentiality, Conflict of Interest).

• Fund Management: Fund Agreements, Grant Agreements, DAF Policies.

• Community Impact: Evidence of community needs assessment, leadership, and strategic grantmaking.

• Transparency: Documenting operations, financial reporting, clear communication.

Why They Matter

• Builds Trust: Signals commitment to high ethical and operational standards.

• Self-Regulation: Proactive way to demonstrate integrity, often exceeding federal/state rules.

• Distinguishes Community Foundations: Differentiates community foundations from other entities.

• Operational Excellence: Framework for effective management and innovation.

To learn more about the Faribault Foundation contact Laura Bock, Executive Director

507-805-8800 LauraBock@FaribaultFoundation.org