Intended both as a blueprint for internal organizational development and as a tangible set of benchmarks for external assessment of performance, the 43 National Standards address six key areas of community foundation operations:

• Mission, Structure, and Governance, including standards defining board accountability, compensation, independence, fiduciary responsibility, and representation of the community.
• Resource Development, including parameters for administration of funds, disclosures to donors, and commitment to building long-term resources for varied community issues and causes.
• Stewardship and Accountability, covering prudent investment and management of funds, transparent record-keeping, use of funds for their intended purpose, annual audits, and public availability of financial information, including standards related to due diligence and community responsiveness.
• Grantmaking and Community Leadership, including standards related to broad and open grantmaking programs, due diligence, and responsiveness to changing community needs.
• Donor Relations, encompassing guidelines for informing, educating, and involving donors in responding to community needs.
• Communications, including openness to public scrutiny and frequent communications about activities and finances.

In order to achieve confirmation of compliance with the National Standards, Gulf Coast Community Foundation of Venice had to undergo an extensive review of its organizational and financial policies and procedures by a team of trained, experienced community foundation practitioners.  Of the nearly 700 community foundations in the United States, 500 have pledged to comply with the National Standards.  The Council on Foundations, a Washington, DC-based nonprofit membership association of more than 2,000 grantmaking foundations and corporations, is currently reviewing community foundations’ practices and confirming compliance with the National Standards.