DEFINITIONS: 6.1 6.2 6.3

Question	Answer
PUBLIC TRUST	An organization created for the benefit of the community or to meet societal needs. Nonprofits and their employees are held to a higher standard of conduct than other operating in a different sector.
THIRD SECTOR	Used to describe all nonprofit organizations and institutions.
STEWARDSHIP	The philosophy and means by which an institution exercises ethical accountability in the use of contributed resources. The philosophy and means by which a donor exercises responsibility in the voluntary use of resources.
TASKS ASSOCIATED WITH GOOD STEWARDSHIP INCLUDE:	Reporting on gifts. Honoring donor intent. Maintaining accurate & secure records. Updating donors of endowment results. Timely execution of annual reports & other required reporting.

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	Created by Helena Banks over 4 years ago

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