Friday, April 27, 2007

Models of Transparency: Food For The Poor

I received an email from "Food for the Poor" this week which brought a delightful surprise -- not a request for funds, but a report on how funds had been spent.

Annual Report - Food For The Poor

The report happened to be very attractive, as well, which is a nice touch. They have a clear layout of expenses by service area, laced with tales of the impact of their work.

At CDM, we usually publish our annual report at the end of year as a nice fundraising piece. However, this puts nearly 12 months between the end of our last fiscal year and the day that our donors receive the report.

This year -- inspired by Food for the Poor -- we are going to send out a preliminary financial report to our donors as soon as the audit has been completed. Our goal is to increase the level of transparency in our organization, while also cultivating stronger relationships with donor who want to know where their money was spent.

DISCUSSION: Any other ideas on how to share financial information with donors?