Good Soil Good Seed | Scholarship Foundation
Transparency Statement
Because the Lord supplies us with resources for our ministry through individual and corporate contributions, we recognize our accountability both to Him and to our donors. We have a responsibility to be faithful stewards and to maintain integrity and openness in our financial practices. Therefore, we are committed to fulfilling the following standards.
Our Transparency Standards
- Subscribing to a written Statement of Faith clearly affirming our commitment to the evangelical Christian doctrine. Advancing the Gospel of the Lord Jesus Christ is the singular objective of our financial conduct.
- Maintaining governance by a responsible and involved Board of Directors who are independent according to legal and accountability standards.
- Meeting as necessary to establish policies, approve budgets, and review operational results and ministry accomplishments.
- Using contributions faithfully and wisely, in accordance with our mission of providing grants and scholarship for the advancement of Christian education. In this light, fund-raising appeals will clearly identify the purposes and programs to which donations will be applied as the Board provides oversight to ensure that donations are used for the purposes for which they are raised.
- Directing that contributions designated for grants and scholarships to child-of-need be applied to those initiatives with the disclosure that contributions may be used for building the Foundation and administering the donations.
- Contracting with an independent public accounting firm to perform an annual audit of our finances and ensure our financial statements are prepared in accordance with generally accepted accounting principles.
- Making our financial statements available on the Good Soil Good Seed website and to all who request them.
- Making the annual Form 990 available on the Good Soil Good Seed website and to all who request the information. We follow a process whereby the Audit Committee of the Board accepts the Form 990 prior to filing with the IRS and the Board receives a copy prior to such filing.
- Maintaining and complying with the Conflict of Interest Policy, Reportable Concerns Policy, Record Retention Policy, and Code of Ethics.
- Seek to conduct Good Soil Good Seed activities with the highest standards of integrity and avoid conflicts of interest.
- Avoid high-pressure, manipulative, or deceptive fund-raising tactics and respect the privacy of our supporters by never selling, leasing, or renting our mailing lists.
- Avoiding indebtedness that dishonors the cause of Christ and hinders the work of the Gospel by timely paying vendors and fulfilling financial commitments.
- To grow in knowledge and understanding of best financial practices for nonprofits to fulfill the fiduciary duty of care attributable to each Board member.
- Respecting the privacy of our donors, we do not sell or rent our mailing list to other groups wishing to use the names and addresses of our supporters. We maintain tight security on our list of friends and supporters.
