It is the goal of the Board of Directors of the PMP Research Foundation that donors have the highest level of confidence when making contributions to the Foundation.
t is our intention to provide you with that confidence by sharing the following information. If you have any questions or concerns, please don’t hesitate to email any of our Board Members or our general e-mail firstname.lastname@example.org.
The PMP Research Foundation is proud to be a Gold Level Participant on the GuideStar Exchange, demonstrating our commitment to financial transparency.
In addition to complying with all IRS filing requirements, the PMP Research Foundation operates under the following accounting and operational control procedures to manage the Foundation’s assets:
Segregation of Duties: One individual processes donations, adds donor information to our database, and sends out an acknowledgement of the donation to the donor for tax purposes. A separate individual makes the bank deposits. The Foundation also utilizes an accounting department where personnel have separate responsibilities with respect to processing and recording of financial activity. The accounting department prepares internal financial statements which are subject to oversight and review by the Finance Committee. In addition to the financial statements, the bank statements and donor database are made available to the Foundation’s Finance Committee. Annually, the Foundation’s financial statements are reviewed by an independent CPA firm that also prepares the Foundation’s IRS Form 990. The 990 is reviewed in detail by the Finance Committee and approved by the Board prior to filing.
Conflict of Interest Policy: The Board of Directors has adopted an IRS recommended, but not required, Conflict of Interest Policy wherein they agree that they will neither benefit individually nor from a business perspective when conducting Foundation business.
Compliance with FASB Accounting Rules: The Foundation utilizes an industry standard accounting software for small organizations. All records are reviewed regularly by our CPA.
Safe, Secure Payment Processor: The Foundation selected a webhost that processes all online donations through Paypal, the most trusted, largest and most cost-effective processor of online payments in the U.S. No financial information is processed or retained on our website.
Investment Policy: Our Board of Directors has adopted an Investment Policy recommended by our Finance Committee that provides for prudent investment of the Foundation’s assets.