Accountability
The Lumpkin Family Foundation believes foundations have a responsibility that goes beyond compliance with federal and state laws. We believe that achieving success requires transparency and accountability.
Critical to this process is addressing the following questions:
- Is the conduct of board, staff, members and volunteers legal and honorable?
- Are The Foundation’s financial assets invested at a reasonable balance of risk and reward?
- Are the non-financial assets of The Foundation invested to bring about high social returns on investment?
- Is The Foundation’s activity aligned with members’ vision and values and the aspirations of the community The Foundation aims to support?
- How straight-forward is it for a person outside the organization to evaluate The Foundation’s performance and provide feedback?
This list summarizes the actions we take to address these questions. We welcome your suggestions for more.
Federal 990PF
Our 990PF contains comprehensive data about how we use the funds entrusted to The Foundation. Recent copies of the 990PF are available at www.guidestar.org or by request.
Periodic Grantseeker Surveys
Every three years, we commission a blind survey of recent grant-seekers for their opinions on their experiences with foundation processes, staff and members. The survey is conducted by an independent consultant to ensure the confidentiality of the responses and the integrity of the information. Click here to see our most recent survey results.
Whistleblower Policy
Encourages disclosure of inappropriate behavior. Click here to view.
Conflict of Interest Policy
Requires all trustees, staff, and committee members to disclose potential conflicts before taking on responsibilities.
Click here to view.
Investment Policy
Up-to-date investment policies enable us to make strategic program-related investments in East Central Illinois.
Click here to view.
Community Involvement
Most of the Foundation’s grant-making decisions are made by committees. In addition to Lumpkin family members, the committees include community leaders chosen for their knowledge of at least one aspect of that committee’s mission and their connection to East Central Illinois. Of the nine available board seats, three are designated for independent members. There are currently three independent trustees.
Learning and Knowledge-Sharing
The Foundation routinely hosts grantee and stakeholder convenings in East Central Illinois and around the state to share report findings and learn from each other.
Equity
The Foundation pursues equity across all our programs and practices. We are involved in a Foundation-wide internal audit of our policies and procedures that will help to further shape our grantmaking strategy in addition to refining (as needed) the internal culture of the organization. As we continue to learn, we commit to applying the knowledge gained to better support our grantees and those who work on behalf of the Foundation.
Evaluating Performance
As we expect from the nonprofit organizations we support and those with whom we partner, we have a strategic plan that guides our work and to which we hold ourselves accountable. We do this in a variety of ways:
Evaluation Indicators:
We believe it is important to measure the success of our grantmaking strategy. While we have our own internal strategy that we use to measure our progress towards programmatic goals, we allow our grantees to report metrics that are most relevant to their unique context.
We also recognize that the measurement of success (and failure) is only valuable when it is done based on the specific and context-based parameters established by our grantees. We work in tandem with them to ensure that what is measured has meaning to both their work and our overall goals as a Foundation.
Annual Reports:
LFF does not publish a formal annual report. Every year we try to answer what we call our Annual Big Questions that address not only our accomplishments and mission alignment but also our organizational effectiveness.
We do our best to keep our website current, including previous grantees and up-to-date program information. Please see each grant program for a list of current and past grantees. Read our various News items for more information about what LFF is working on in the communities we serve, and the broader field of philanthropy. For detailed financial information, please see our 990 forms at www.guidestar.org.
Periodic Grantseeker Surveys:
As noted, we conduct an independent survey of applicants every three years. We learn from the survey and make adjustments where needed. We publish the results of the grantseeker survey to our website together with a memo from the executive director that explains the actions we take or don’t take in response to the feedback. The survey is conducted by an independent consultant to ensure the confidentiality of the responses and the integrity of the information.
