Financial Accountability
"His master replied, 'Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness!" - Jesus Matthew 25:21
Operation Rescue the Children understands that everything we are entrusted with is given sacrificially as unto the Lord, and we are committed to good stewardship by consistently applying Biblical financial principles. To help us achieve this, we are proud to announce that Operation Rescue the Children, Inc. is an affiliate member of the
Evangelical Council for Financial Accountability (ECFA).
ECFA is an accreditation agency dedicated to helping Christian ministries earn the public’s trust through adherence to the Seven Standards of Responsible Stewardship. ECFA provides accreditation to leading Christian nonprofit organizations that faithfully demonstrate compliance with established standards for financial accountability, fund-raising and board governance.
Our ECFA membership is not only an honor for our ministry, but a great assurance to our donors that ORC is committed to excellence in the stewardship of every gift we receive. To view our financial information, please click on the ECFA seal to the left, or click here.
ECFA Membership Standards
Standard 1 - Doctrinal Statement
Every member shall subscribe to a written statement of faith clearly affirming its commitment to the evangelical Christian faith and shall conduct its financial and other operations in a manner which reflects those generally accepted biblical truths and practices.
Standard 2 - Board of Directors and Financial Oversight
Every member shall be governed by a responsible board of not less than five individuals, a majority of whom shall be independent, which shall meet at least semiannually to establish policy and review its accomplishments. The board or a committee consisting of a majority of independent members shall review the annual financial statements and maintain direct communication between the board and the independent certified public accountants.
Standard 3 - Financial Statements
Each member is required to submit complete and accurate financial statements. Accredited members must submit an annual audit performed by an independent certified public accounting firm in accordance with U.S. generally accepted auditing standards (GAAS) with its financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). ECFA policies allow for an alternate category of membership that does not require audited financial statements, in which case the member must submit financial statements (with disclosures) prepared in conformity with either U.S. GAAP or the modified cash basis of accounting in which financial statements are either compiled or reviewed by an independent certified public accounting firm.
Standard 4 - Use of Resources
Every member shall exercise the management and financial controls necessary to provide reasonable assurance that all resources are used (nationally and internationally) in conformity with applicable federal and state laws and regulations to accomplish the exempt purposes for which they are intended.
Standard 5 - Financial Disclosure
Every member shall provide a copy of its current financial statements upon written request and provide other disclosures as the law may require. If audited financial statements are required to comply with Standard 3, they must be disclosed under this Standard. A member must provide a report, on request, including financial information, on any specific project for which it is soliciting gifts.
Standard 6 - Conflicts of Interest
Every member shall avoid conflicts of interest. Transactions with related parties may be undertaken only if all of the following are observed: 1) a material transaction is fully disclosed in the audited financial statements of the member; 2) the related party is excluded from the discussion and approval of such transaction; 3) a competitive bid or comparable valuation exists; and 4) the member's board has acted upon and demonstrated that the transaction is in the best interest of the member.
Standard 7 - Fund-Raising
There are a total of 11 different Fund-Raising Sub-standards which every ECFA member shall comply with. Among them are the following:
7.1 Truthfulness in Communication
All representations of fact, description of financial condition of the member, or narrative about events must be current, complete, and accurate. References to past activities or events must be appropriately dated. There must be no material omissions or exaggerations of fact or use of misleading photographs or any other communication which would tend to create a false impression or misunderstanding.
7.2 Communication and Donor Expectations
Fund-raising appeals must not create unrealistic donor expectations of what a donor's gift will actually accomplish within the limits of the member's ministry.
7.3 Communication and Donor Intent
All statements made by the member in its fund-raising appeals about the use of the gift must be honored by the member. The donor's intent is related both to what was communicated in the appeal and to any donor instructions accompanying the gift. The member should be aware that communications made in fund-raising appeals may create a legally binding restriction.
We encourage you to visit the ECFA web site to learm more about ORC's financial accountability, and about the
Seven Standards of Responsible Stewardship we adhere to.
