Accountability
United Way of Mid Coast Maine takes very seriously its
role as stewards of donor dollars. There are several ways in which we ensure the highest
levels of accountability:
- The use of accounting methods in compliance with the Financial Accounting Standards Board (FASB),
an organization that recommends accounting standards for non-profit organizations and for-profit businesses
- An annual, independent audit by Bruce A. Bachelder, CPA. A copy of the audit is available for public
review at United Way's office
- Filing detailed information yearly with the IRS
- The public distribution of a condensed version of our financial statements each year in our annual report
- Compliance with United Way of America standards including requirements for financial reporting
and transparency of operations
- An Administration and Finance Committee, comprised of outstanding local professionals,
who review our audit, funding plan, and budget, and ensure that we practice sound financial management
- A knowledgeable Eligibility Committee which makes sure funded agencies meet governance
and financial management standards
- Our Community Compass Overview committee and volunteers on our four Solutions Councils for
ensuring that United Way and our funded partners are making the maximum possible impact on our community
- A local, independent Board of Directors with active oversight of our mission, operations, and finances
- A Code of Ethics including protection for anyone reporting a possible breach of ethics
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