As a result of several financial scandals involving ministries in the 1970s, public confidence was damaged. Several key ministries came together to form the Evangelical Council for Financial Accountability (ECFA), an accreditation agency dedicated to helping ministries earn the public’s trust through the adherence to seven Standards of Responsible Stewardship. Founded in 1979, the ECFA is comprised of over 1100 nonprofit tax-exempt ministries. The ECFA has become the “good-housekeeping seal” for ministries.
We are pleased to announce that the MJBI is a member of the ECFA.
ECFA’s Standards of Responsible Stewardship focus on board governance, financial transparency, integrity in fund-raising, and proper use of charity resources. Compliance with the Standards is monitored in three ways. First, all ECFA members must submit an annual membership review, information including audited financial statements, IRS Form 990, salary information, fund-raising appeals, board composition, changes in organizing documents, and much more to verify compliance. Second, ECFA conducts on-site field surveys at over 10% of its membership each year. These reviews help verify information submitted in the annual membership review and confirm compliance with the ECFA membership Standards. Third, ECFA responds to complaints against member organizations. All such complaints are investigated thoroughly in order to determine possible noncompliance.
ECFA provides services to the donor as well. Disclosure requirements enable donors to request and receive audited financial statements for all ECFA members. For more information about the ECFA and its members, visit their website at www.ecfa.org