A Message from United Way of Palm Beach County
There is nothing more important to United Way of Palm Beach County (UWPBC) than the trust and confidence of our donors. For that reason, UWPBC maintains the highest standards of professionalism, accountability and transparency in the stewardship and financial management of donors’ investments into our community. This commitment to excellence is why UWPBC remains the trusted partner to a significant number of donors who care about our local community. There are a multitude of tools, processes and volunteers that UWPBC uses to accomplish this:
Board of Directors and Committees
UWPBC Board and Committee Members are all non-paid volunteers and include community leaders and a broad spectrum of professionals.
UWPBC Board of Directors – reviews and approves all significant financial issues and commitments. They review the monthly financial statements and the annual audited statements and information returns (IRS Form 990). They are accountable for and actively participate in improvements to the policies and procedures of the UWPBC and the accompanying internal controls that ensure the proper stewardship of donations. The Board approves the annual budget and associated agency funding recommendations.
UWPBC Executive Committee – comprised of members of the Board of Directors –oversees all aspects of the organization’s strategic plan and provides additional oversight of financial management and practices.
UWPBC Audit Committee – comprised of financial experts – manages the annual audit process and is responsible for hiring and evaluating the CPA firm which performs the annual audit.
UWPBC Finance Committee – also comprised of financial experts – meets monthly to review UWPBC’s year-to-date financial statements, discuss other significant financial issues and oversee the financial policies and procedures of UWPBC.
UWPBC Investment Sub-Committee – comprised of financial and investment management experts is responsible for oversight of the investment portfolio, monitors and formally reviews performance, and provides recommendation in accordance with the Investment Policy.
Annual Audit and IRS Form 990
Every year UWPBC engages a certified independent public accountant to perform an annual audit of UWPBC’s financial books and records. This engagement is managed by the Audit Committee and the results are reported to and approved by the Finance Committee and Board of Directors. UWPBC has consistently achieved an “unqualified opinion” (clean opinion). UWPBC posts the most recent audited financial statements on its website.
In conjunction with the audit, the UWPBC auditor prepares the organization’s annual IRS Form 990. The IRS Form 990 is also posted on the web site and provides a great level of detail about UWPBC and the programs it supports. The review and approval process for the UWPBC IRS Form 990 is the same as the annual audit.
United Way Worldwide Standard of Excellence
All United Ways are separate, non-profit corporations who raise funds for their local communities and are governed by local volunteers. To operate under the umbrella of “United Way” members must adhere to very strict membership requirements including United Way Worldwide’s Standards of Excellence. These standards require participating United Ways to submit a detailed revenue and expense information, and a certification to very strict legal, governance, trademark, ethics, reporting, designation fee and audit requirements on an annual basis; and, a detailed self-assessment bi-annually.
Nonprofits First® Certification
Annually, UWPBC is certified by Nonprofits First®, a 501(c)(3) organization established by a coalition of public and private funders to strengthen the administrative and operational capacity of non-profit organizations in Palm Beach County. Composed of experienced executives, consultants and volunteers, its certification promotes sound business practices in the areas of administration, board governance, human resources and financial management, as an additional assurance to donors and community stakeholders.
Community Review Process
Based upon research and community input, UWPBC develops and releases a competitive Request for Proposals announcement for education, income, and health programs. Applications submitted by local nonprofits go through a thorough process in which a large number of community volunteers conduct a detailed review of the applicant agencies as well as the programs for which they seek funding. Based upon this review, the volunteers make recommendations to the UWPBC Board of Directors regarding programs to fund through UWPBC’s Community Care Fund for a period of up to three years (contingent on annual fundraising and program performance.) Community volunteers continue to monitor and evaluate these programs through activities such as site visits and the review of semi-annual progress reports submitted by the programs.
Ethics and Conflict of Interest Policies
UWPBC has an ethics policy that guides the strict ethical behavior of UWPBC staff and volunteers. As part of the UWPBC’s pursuit of ethical excellence, staff and volunteers are also subject to a full-disclosure conflict of interest policy; it requires all staff and volunteers to attest annually of any conflicts of interest or the appearance of a conflict of interest. Specifically, staff and volunteers must not participate in any arrangement, agreement, investment or other activity that may result in a personal benefit to them or a relative at the expense of UWPBC. Adherence to these policies is an expectation of all staff and volunteers.
The management of UWPBC recognizes that trust is never assumed, but that it must be earned. In that light, the management of UWPBC and our governing volunteers are perpetually at work improving and refining our processes and systems to ensure the most efficient and effective use of donors’ investments in our community. We are deeply grateful for our donors’ trust in us and will continue to take every precaution to ensure that trust is not only maintained, but strengthened.
These statements and report only reflect United Way of Palm Beach County’s condition and do not represent the United Way system as a whole. Each local United Way is required to complete their own audited or reviewed financial statements and IRS Form 990; and possess and adhere to policies and procedures established by their local governing boards.
Read United Way of Palm Beach County’s Current Form 990* (This is for year ending June 30, 2018)
*Refer to page 25 of the Form 990 for reconciliation to the audited financial statements.