The JDCA’s last report focused on how Utilizing Corporate Governance to Align Agendas will better serve the search for a type 1 diabetes cure – and now, our newest report, Improved Corporate Governance Begins with Frequency, Timeliness and Notification, highlights the most important aspects of how communication and transparency in Not-For-Profit organizations (NFPs) differ from that of Public Companies (PCs) and why we believe NFPS should adopt more of the filing standards of PCs.
The JDCA often breaks down the reports that the major non-profits (JDRF, ADA, DRIF, and Joslin) release on an annual basis, but we think it would be even more useful to analyze quarterly expense reports from these organizations because this would provide more detailed updates for donors and better help them understand the areas in which each foundation is placing focus (and funding). This information would help potential donors decide where they want to spend their money in the search for a type 1 diabetes cure.
As our report explains, we firmly believe that donors would be better served if the NFPs implement a number of new standards and guidelines in their reports. These standards include:
- A 90-day Filing Time Frame
- Publication alerts in the form of press releases or emails to subscribed contributors for all filings
- Ease of access on the NFP website
- Library of filings on the NFP website encompassing a five-year time frame at minimum
Our report also features an interesting break down of each of the four major diabetes foundations, the information they disclose, and how often they communicate their operations with contributors. Although each organization has different methods, all four can improve in terms of frequency, timeliness, and notification standards. Joslin, for example, does not supply the filings on their website, which makes it all the more difficult to get detailed information on their methods of operation.
– Stoyan
