NEWS RELEASE

Foundation Receives Recognition

Merrick Foundation, Inc. has been recognized by the Council on Foundations for having organizational and financial practices that meet National Standards for Community Foundations in the United States. National Standards were developed to distinguish community foundations from other philanthropic vehicles and assist them with self-regulation in a manner viewed positively by the Internal Revenue Service.

Merrick Foundation is the sixth community foundation in Nebraska to meet national standards. Merrick Foundation joins the Nebraska, Omaha, Lincoln, Fremont and Phelps County community foundations in the prestigious group. The Council on Foundations has a membership of over 2,000 foundations and giving programs including 720 community foundations. The Council provides leadership, training and resources needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good.

Merrick Foundation’s Board of Directors approved pursuing National Standards Compliance in 2005. The initial submission for compliance was made in June of 2007, followed by policy and procedural reviews and requests for additional information and verification documents. Changes in IRS regulations, the Pension Protection Act and other statutes have changed several standards requirements. Reviews for continued compliance with National Standards will be conducted every five years.

The 38 National Standards address six key areas of community foundation operations including:
1. Mission, Structure and Governance
2. Resource Development
3. Stewardship and Accountability
4. Grantmaking and Community Leadership
5. Donor Relations
6. Communications

Executive Director, Chuck Griffith indicated, “We are proud to have attained these high standards of accountability”. He continued, “Compliance with national standards ensures that Merrick Foundation will continue its tradition of fiscal responsibility and integrity”.