Storyline Community Financial Practices
We are committed to financial transparency and integrity as an organization, and follow the below best practices.
Practice 1 | We aim for the highest standards of financial transparency
Our finances are transparent to our members, donors, and the public.
- Any donor or member can ask any question about our financial practices and can expect a warm and forthcoming response- questions are encouraged because they are a part of the whole picture of how we create transparency and accountability.
- Our annual budget is approved by the Board, shared with regular attenders and donors, and available upon request at any time.
- Monthly financial reports are prepared by our treasurer, reconciled with our bank account, reviewed by our secretary, and then reviewed by our board along with budget comparisons to make it easy to recognize any unusual deviations.
- Employee compensation is detailed for the board to ensure our employees are being paid fairly and equitably, and as closely in line with compensation in similar roles at similar organizations as financially possible. This information is also publicly available as we have filed form 990, which discloses salaries so donors can see how a non-profit stewards its resources.
- We go beyond legal requirements to abide by regulations that create public transparency While religious institutions are not required to file forms that make their finances publicly available (form 990), we find it important because it leads to greater public transparency and are currently in the process of filing.
Practice 2 | We Provide Confidential and Tax-deductible Donations
- Giving is confidential. The only people with authorization to view giving amounts are the board treasurer and the board secretary, who are responsible for record-keeping.
- Receipts are provided immediately for online giving, and for checks upon request. The Board Treasurer will also send a year-end statement of donations no later than Jan 30.
Practice 3 | We Keep a System of Check and Balances and Diligent Record-keeping
In order to increase accountability and minimize opportunity for malfeasance
- Contributions are recorded by the treasurer and reviewed by a second person to ensure integrity and accuracy, and all money is deposited within 48 hours.
- Checks to a payee must be approved, reviewed and signed by two different board members (board president, treasurer, or third identified member.
- Expense reimbursement requests are submitted with receipt and explanation of expense, and the person submitting must be different than the person approving and signing for the expense.
- Financial records are backed up monthly on a thumb drive, all checks have appropriate backup documentation, and payments are made by check, debit, account transfer, or ACH whenever possible, as it provides another permanent record.