We’re accountable to you, and we don’t take it lightly! Your generosity is what empowers us to make a difference in the Kingdom of God, and to ensure that we do our very best at stewarding the resources you pour into this organization, we’ve partnered with the Evangelical Council for Financial Accountability (ECFA). Founded in 1979 by Billy Graham and other evangelical leaders, it serves as a standard-bearer for over 900 ministries and other non-profit organizations across the United States.
Hour of Power is an ECFA-accredited organization, which means we’ve undergone a rigorous evaluation process to prove compliance in the following Seven Standards of Responsible Stewardship. For more in-depth information on these standards, we encourage you to visit www.ecfa.org.
1. Doctrinal Issues: We subscribe to a written statement of faith clearly affirming a commitment to the evangelical Christian faith and otherwise demonstrate such commitment, and we operate in accordance with Biblical truths and practices.
2. Governance: We’re governed by a responsible board of not less than five individuals, a majority of whom are independent, who meet at least semiannually to establish policy and review accomplishments.
3. Financial Oversight: We prepare complete and accurate financial statements. Our board approves the engagement of an independent certified public accountant, reviews the annual financial statements, and maintains appropriate communication with the independent certified public accountant. The board is apprised of any material weaknesses in internal control or other significant risks.
4. Use of Resources and Compliance with Laws: We exercise the appropriate management and controls necessary to provide reasonable assurance that all of our operations are carried out and resources are used in a responsible manner, and in conformity with applicable laws and regulations, such taking into account Biblical mandates.
5. Transparency: We provide a copy of our current financial statements upon written request and provide other disclosures as the law may require. The financial statements required to comply with Standard 3 must be disclosed under this standard. We provide a report, upon written request, including financial information on any specific project for which it has sought or is seeking gifts.
6. Compensation-Setting and Related-Party Transactions: We set compensation of our top leader and address related-party transactions in a manner that demonstrates integrity and propriety in conformity with ECFA’s Policy for Excellence in Compensation-Setting and Related-Party Transactions.
7. Stewardship of Charitable Gifts: We commit to the following when handling the resources that our donors so faithfully entrust to us:
Truthfulness in Communications: In securing charitable gifts, all representations of fact, descriptions of the financial condition of the organization, or narratives about events must be current, complete, and accurate. References to past activities or events must be appropriately dated. There must be no material omissions or exaggerations of fact, use of misleading photographs, or any other communication which would tend to create a false impression or misunderstanding.
Giver Expectations and Intent: Statements made by us about the use of gifts in our charitable gift appeals must be honored. A giver’s intent relates both to what was communicated in the appeal and to any instructions accompanying the gift. Appeals for charitable gifts must not create unrealistic expectations of what a gift will actually accomplish.
Charitable Gift Communication: We provide givers appropriate and timely gift acknowledgments.
Acting in the Best Interest of Givers: When dealing with persons regarding commitments on major gifts, we seek to guide and advise givers to adequately consider their broad interests. We make every effort to avoid knowingly accepting a gift from, or entering into a contract with, a giver that would place a hardship on the giver or place the giver’s future well-being in jeopardy.
Percentage Compensation for Securing Charitable Gifts: We may not base compensation of outside stewardship resource consultants or our own staff directly or indirectly on a percentage of charitable contributions raised.