WHO IS ACCREDITED?

Private Organization Accreditation

One Hope United offers a range of services aimed at our mission of "Protecting children and strengthening families" including early childhood education, early intervention and prevention, family preservation, foster care, residential, and adoption.
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ORGANIZATION TESTIMONIAL

Catholic Charities, Diocese of Covington

Wm. R. (Bill) Jones, ACSW, MDiv, Chief Executive Officer

Catholic Charities in Covington has been COA accredited since 1996. Though the time spent in completing the self study and hosting the site visit can sometimes feel sometimes daunting, the rewards far outweigh the effort. In our agency, the self-study is a group process that involves every member of the staff from the CEO to the building maintenance staff.
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Purpose

The nonprofit organization’s financial accountability and viability are achieved through the application of sound financial management practices that accord with legal and regulatory requirements.

FIN 5: Financial Planning

Planning for the current fiscal cycle is organization-wide and involves key stakeholders. 

Interpretation: Organizations should develop or utilize a financial planning model that provides a framework for:
  1. determining the financial impact of strategic initiatives and longer term financial goal;
  2. clarifies the linkage between planning and budget resource allocation decisions;  and 
  3. supports and promotes long-term financial sustainability.

Rating Indicators
1
The organization's practices fully meet the standard, as indicated by full implementation of the practices outlined in the FIN 5 Practice standards.
2
Practices are basically sound but there is room for improvement, as noted in the ratings for the FIN 5 Practice standards.
3
Practice requires significant improvement, as noted in the ratings for the FIN 5 Practice standards.
4
Implementation of the standard is minimal or there is no evidence of implementation at all, as noted in the ratings for the FIN 5 Practice standards. 

Table of Evidence

Self-Study Evidence On-Site Evidence On-Site Activities
    • Annual Budget
    • Budget planning procedures
    • List of revenue sources with percentage of each to total budget
    • Most recent executive report on organization finances
    • Sample of monthly analysis of financial performance (FIN 5.05)
    • Operating reserves policy (FIN 5.05)
    • Sample of unit cost analysis and description of methodology (FIN 5.06)
    • Governing body minutes
    • See long-term or strategic plan
    • Interview:
      1. Governing body members
      2. CEO/CFO
      3. Finance personnel

  • FIN 5.01

    An annual budget serves as a plan for managing the organization’s financial resources.

    Rating Indicators
    1
    The organization's practices reflect full implementation of the standard.
    2
    Practices are basically sound but there is room for improvement; e.g., 
    • The annual budget serves as a plan for managing the organization's financial resources but lacks sufficient information for some departments and/or programs.
    3
    Practice requires significant improvement; e.g.,
    • The written budget is insufficient in detail or clarity to serve as a plan for managing its financial resources.
    4
    The organization does not have a written budget.

  • FIN 5.02

    The organization pursues stable, predictable sources of revenue through diversification and balance in funding streams consistent with the organization’s mission or purpose and programs.

    Interpretation: Organizations meet the intent of the standard if they can demonstrate that they are actively pursuing stable and predictable sources of revenue, even if they have not yet achieved that goal.

    Rating Indicators
    1
    The organization's practices reflect full implementation of the standard.
    2
    Practices are basically sound but there is room for improvement; e.g.,
    • The organization makes active efforts to diversify or strengthen resources but still relies primarily on one or two major funding sources.
    3
    Practice requires significant improvement; e.g.,
    • Minimal efforts have been made to expand, diversify or strengthen the organization’s resource base.
    4
    The organization has no “fallback” position and has made little or no effort to protect itself from the consequences of dependence on a single source of revenue.

  • FIN 5.03

    The annual planning and budget cycle includes participation of management, the governing body, and other relevant organization participants and is based on: 
    1. direct and indirect operating expenditures; 
    2. contractual requirements; 
    3. changing costs and conditions; and
    4. anticipated revenue for the program year.

    Rating Indicators
    1
    The organization's practices reflect full implementation of the standard.
    2
    Practices are basically sound but there is room for improvement; e.g.,
    • The governing body and management, and program/department managers join in budget planning based on priorities, a realistic appraisal of funding, and costs, but the process could be made more comprehensive or changing conditions could be better addressed.
    3
    Practice requires significant improvement; e.g., 
    • The budget planning process is not comprehensive or formalized in one of the standard's elements; or
    • Either the governing body or management body does not participate and there are no steps taken to remedy this; or
    • There is no documentation of review of either the governing body or management team.
    4
    Implementation of the standard is minimal or there is no evidence of implementation at all.

  • FIN 5.04

    The chief executive officer provides a quarterly executive report on the organization’s finances to the governing body that includes: 
    1. current financial performance and any anticipated problems;
    2. a review of budget projections and areas of risk; and 
    3. discussion of other financial matters, as necessary.

    Rating Indicators
    1
    The organization's practices reflect full implementation of the standard.
    2
    Practices are basically sound but there is room for improvement; e.g., 
    • Element (a) or (b) is not fully addressed.
    3
    Practice requires significant improvement; e.g.,
    • Element (a) or (b) is not addressed at all; or
    • Reports are provided less than quarterly.
    4
    Implementation of the standard is minimal or there is no evidence of implementation at all.

  • FIN 5.05

    Financial information is routinely analyzed and the information includes: 
    1. a monthly and annual analysis of financial performance against budget projection with budget-to-actual variance analyses performed on interim financial statements of activities; 
    2. cash reserves in alignment with an operating reserves policy;
    3. service revenues and actual service delivery costs; and 
    4. an annual inventory of significant assets, including securities.

    Rating Indicators
    1
    The organization's practices reflect full implementation of the standard.
    2
    Practices are basically sound but there is room for improvement; e.g.,
    • The organization routinely analyzes financial information but is not always stringent about comparing it with data about actual service delivery costs; or
    • Financial analyses are conducted at least quarterly and annually.
    3
    Practice requires significant improvement; e.g.,
    •  Analysis of financial performance is not performed at least quarterly; or
    •  An annual analysis is not conducted; or
    • The organization does not analyze service revenue information and service delivery costs.
    4
    Implementation of the standard is minimal or there is no evidence of implementation at all; e.g.,
    • The organization makes no attempt to either keep adequate service revenue information or to analyze it.

  • FIN 5.06

    The organization annually conducts a cost analysis of its services  and uses the information to: 
    1. analyze the effectiveness and efficiency of operations and service delivery; and
    2. monitor trends, current activities and changes in costs.

    Interpretation: Examples of measures related to cost analysis include:
    • the fixed and variable costs of each unit of service at each program and service delivery site; 
    • the average costs or charges of treatment or services for identified groups of consumers; and
    • the contribution of services to the overall revenue base.

    NA The organization is a network management entity.

    Rating Indicators
    1
    The organization's practices reflect full implementation of the standard.
    2
    Practices are basically sound but there is room for improvement; e.g.,
    • The organization analyzes the comprehensive unit cost of providing each of its services less than annually but at least every two years; or
    • The organization uses the information for only one of the two listed areas.
    3
    Practice requires significant improvement; e.g.,
    • The organization analyzes the unit cost of providing each of its services less regularly than every two years.
    4