Monitoring of non-profit sector
“Krona” has been monitored for compliance with Standards of Transparency and Integrity for NGO’s according to criteria of ICFO. Monitoring was implemented by Ukrainian organization “Charity Tuner”. Today, along with 10 other nonprofit organizations, “Krona” received the Transparency & Trust Certificate. (http://charitytuner.org/foundations/health/)
"Such a monitoring is extremely important and necessary for charitable sector, because unfortunately good intentions often become an instrument of abuse and fraud. That means: significant part of financial resources that could have been directed to important social projects and real change instead get into the pockets of unfair people. “Krona” has consciously and voluntarily undergone the monitoring by “Charity Tuner” and received the Transparency & Trust Certificate. We hope that more and more of NGO’s will endeavor to do the same and move the whole sector to a higher level of development," says Olena Matsibokh, Chairwoman of the “Krona” Foundation.
This year, the monitoring NGO “Charity Tuner” officially became a member of ICFO, receiving its mandate to inspect the non-profit sector and to advocate the international standards of Transparency & Trust in Ukraine.
ICFO standards imply that NGO:
- Voluntary and regularly provides public with complete information on its financial position and results of charitable operations;
- Complies its activities with criteria of public benefit;
- Has transparent management with no conflict of interests;
- Prioritizes efficiency in its programs and use of public funds;
- Is independent of political engagement;
- Holds financial accounting in accordance with the requirements of Ukrainian legislation;
- Prevents money depredation and financing of terrorism.