When IFTF was founded, the initial slate of board members agreed that we wanted to work towards as much transparency as possible. To this point, we’ve tried to do that, communicating via several channels (including this blog!). In January, we released a Transparency Report for 2016, detailing our financial goings-on for last year.
Today, we’re pleased to announce we’ve adopted an official Open Books Policy that requires us to publish a Transparency Report each year. In full, it reads:
IFTF seeks to be a transparent organization. Therefore, at the end of each calendar year, the Secretary and Treasurer will together write and publish a Transparency Report, which will include (but is certainly not limited to):
The amount and source categories of incoming funds;
The amount and expenditure categories of outgoing funds;
A general accounting of volunteers, their hours, and where these hours were spent;
IFTF’s monthly and yearly spending rates;
An assessment of the overall financial health of IFTF.
We hope to become more transparent as time goes on, not less. Therefore, while the 2016 Transparency Report is a good starting point, we commit ourselves to providing more detail in subsequent years, particularly with regard to individual projects.
We’re excited to continue operating as transparently as possible going forward!