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The Role of a Supervisory Board in a Charitable Foundation: Ensuring Transparency and Organizational Control
29 august 2023
Charitable foundations and organizations are gaining increasing recognition among international donors and society at large. High-profile businesses and celebrities are actively participating in charitable activities, highlighting urgent issues and helping to involve substantial funds to back social and humanitarian initiatives. But is this sufficient to guarantee transparency, accountability, and judicious use of resources in charitable organizations?
A key indicator of any charitable foundation’s integrity is its supervisory board, which fosters trust among donors and society, and promotes effective management practices. Tetiana Volochai, Director of MHP-Gromadi Charitable Foundation, explained to Mind why its existence is crucial for donors, society, and businesses. Does resource mobilization not imply resource control? In recent years, Ukraine has seen a rapid development in the culture of charity. As per the British organization CAF, our country ranks 10th in the World Philanthropy Index. With the onset of a full-scale war, Ukrainians, global celebrities, international donors, and foundations have rallied and concentrated their efforts on Ukraine’s victory against Russia.
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