Approved By: Board of Directors

Approval Date: November 28, 2023

Effective Date: November 28, 2023

Policy statement

Definitions

Purpose

Policy requirements

Responsibilities

Monitoring/contraventions

Enquiries

Policy statement: Fireproof Worship Centre will promote an accountable and transparent Board.

governance guided by the following principles: 

Decision-making will be open and transparent.

FPWC operations will be conducted in an ethical and accountable manner.

Financial resources and physical resources will be managed efficiently and effectively.

FPWC information will be accessible so that it is consistent with policy requirements.

Inquiries, concerns, and complaints will be responded to promptly.

Financial oversight, service standards, performance reporting, and all other accountability documents will

be made available and accessible so that the public can understand, to increase the opportunity for public

scrutiny and involvement in FPWC operations.

Definitions

Accountability – The principle that FPWC is obligated to demonstrate and take responsibility for its actions, decisions, and policies and that it is answerable to the funders, supporters, partners, and the public at large.

Transparency – The principle that FPWC will conduct its business in an accessible, clear, and visible manner and that its activities are open to examination by its funders, partners, and stakeholders.

Purpose

This policy guides how the Board ensures FPWC matters are approached in an accountable and transparent manner, with emphasis on openness, ethics, performance outcomes, and fiscal responsibility.

Policy requirements

The Fireproof Worship Centre's commitment to accountability and transparency ensures sound governance and sustainability by way of various policies, procedures, and practices that have been divided into the following categories:

• Good stewardship

• Fiscal responsibility 

• Audited financial statement.

• Signing Authority 

• Fund Raising 

Financial accountability, oversight, and reporting FPWC is accountable and transparent to funders by

identifying the source of FPWC funds and how those funds are used to deliver services. Policies,

procedures, and practices are in place to demonstrate FPWC best-practice financial accountability and oversight and reporting mechanisms, including:

External Auditor and report

Performance measurement and reporting: Fireproof is accountable to funders and supporters by using various results-orientated tools to measure progress on performance and the achievement of corporate service standards and goals.

Fund Raising 

Funds shall be solicited in a respectful manner and without pressure. All third parties not directly affiliated with

FPWC Nonprofit who wish to solicit funds on behalf of the organization must acquire written permission from the

FPWC Nonprofit executive director before beginning any fundraising activities. Donor-designated restrictions on contributions shall be honored. 

Fundraising events sponsored by FPWC Nonprofit must net at least 50% of gross income. A detailed budget must be prepared in advance and approved by the Board of Directors. Proceeds of FPWC Nonprofit sponsored events must

support FPWC Nonprofit identified needs and be approved by the Board of Directors.

FPWC Nonprofit will provide clear communication to event guests regarding CRA regulations that limit the charitable deduction amount to only a portion of the ticket price.

All FPWC Nonprofit sponsored events must be evaluated for determination of continued offering.

Donor Acknowledgements

Within 3 weeks of a donation receipt, every donor to FPWC shall receive a formal acknowledgment/ thank you letter and donation receipt. Donations of $500 or more will also receive a personal phone call from a board member or the executive director. 

Every new donor will be included in informational mailings and receive invitations to special events.

All funds raised for the FPWC mission shall be deposited within 7 days of receiving funds by FPWC staff, volunteers,

or designate.

FPWC Financial commitment

• A Commitment to Maintain Trust and Provide Transparency

• FPWC. expensed 85% of total expenditures for outreach and program services directed at

reaching and meeting the needs of the less fortunate within our community.

• FPWC. voluntarily submits to an annual audit by an independent public accounting firm.

Financial statements are presented by generally accepted accounting principles.

• FPWC will ensure that there are always two signing authorities for all cheques approved by the

board.

• FPWC voluntarily submits to a legal audit to ensure that the Centre is complying with applicable federal and provincial laws and regulations.

• FPWC issues an annual attestation letter or statement provided by an independent public.

an accounting firm that attests to our program service expenditures.

• FPWC. requires all board members, volunteers, and employees to abide by a conflict of interest.

policy that encourages high standards of ethics and integrity.

• FPWC strives to ensure that all fundraising efforts portray the purpose of the funds to be raised.

and that all contributions received are used for those specific purposes.

• FPWC protects the privacy of our donors by not marketing our mailing list.

• FPWC commits to making our audited financial statements available to the public when asked.