Each year, Victoria County United Way is audited by an independent accounting firm and has consistently received an unqualified opinion letter. In addition to posting our Form 990 on our Web site for public review, Victoria County United Way is an active member of the Better Business Bureau.
The United Way system has developed comprehensive requirements for completion of audited financial statements. They are intended to create a uniform set of standards for all United Ways to follow in preparing audited financial statements to ensure consistency and transparency on the part of each United Way. The requirements are based on current best practices in our industry as well as generally accepted accounting principles and requirements of the Financial Accounting Standards Board. The United Way system has also developed requirements for completion of the IRS Form 990 that clarifies various areas of ambiguity and establishes a single United Way standard for the 990 where the IRS allows for several different approaches.
At Victoria County United Way, we know our success is measured by how well we deliver on our mission to make measurable improvements in our community. And we know the importance of setting high standards for ourselves and for our local partners. Membership standards are in place for all local United Ways to ensure accountability and transparency. Annually, all United Ways must certify their adherence to these requirements.
Every United Way Must:
Be tax-exempt under Section 501(c)(3) of the Internal Revenue Code as well as corresponding provisions of applicable state and local laws or regulations. United Ways must file the IRS Form 990 annually in a timely manner.
- Comply with all applicable legal local, state and federal operating and reporting requirements (e.g., nondiscrimination, Sarbanes-Oxley Act).
- Have an active, responsible and voluntary governing body, which ensures effective governance over the policies and financial resources of the organization.
- Adhere to a locally developed and adopted statement to ensure volunteers and staff broadly reflect the diversity of the community it serves. Represent itself in accordance with United Way of America standards and requirements.
- Support the United Way system by providing financial support to United Way of America according to the membership investment formula.
- Adhere to a locally developed and adopted code of ethics for volunteers and staff which includes provisions for ethical management, publicity, fundraising practices and full and fair disclosure.
- Undergo an annual audit conducted by an independent certified public accountant whose examination complies with generally accepted auditing standards and GAAP.
- Conduct every three years a volunteer-led self-assessment of its community impact work, financial management, and organizational governance and decision making.
- Annually provide to United Way of America a report of the total resources generated (annual campaign plus other resources such as in-kind donations and special events) ensuring accurate and unduplicated accounting.
- If managing donor-designated gifts, base any fee charged on actual expenses (VCUW does not charge any fee).
View Items that Speak to Our Accountability
June 30, 2016 Financial Audit
June 30, 2015 Financial Audit
June 30, 2014 Financial Audit
June 30, 2012 & 2013 Financial Audit
June 30, 2011 Financial Audit (18 Month Audit to transistion to a July/June Fiscal Year)