LWB takes financial accountability and donor privacy very seriously. Some of the policies we have put into place to make sure we maintain an unimpeachable ethical standard include:
- Our financial records are audited each year by an independent accounting firm, chosen by an audit oversight committee who then reviews the findings.
- We post our annual report, audited financial statements, and IRS Form 990 online so anyone can see how are funds are being used. As a public charity, we know it is your money, not ours, and that we are entrusted to make the most impact possible with the funds received.
- Our board of directors holds regular board meetings, and the records of those meetings are recorded and kept on permanent file. We also hold an annual program directors’ meeting to make sure every program we run provides the highest quality for the children we serve.
- LWB has a records retention and destruction policy in place. We also have a policy that we believe the information we are gathering on orphaned children is THEIR information, not ours. Information on children helped is stored so we can hopefully turn it over to their adoptive families or themselves.
- LWB follows all U.S. and Chinese laws at all times and has a whistle blower policy in place. All volunteers and employees are encouraged to contact their program director, executive director, or board of directors at any time with any concerns or questions they have.
- In 2011 the decision was made to remove our executive director from the board of directors so that no board member would receive any compensation from the foundation. We know that it is acceptable to have the executive director on the board, but whenever there is an industry standard or goal for accountability, we want to meet or exceed it.
- The board of directors has a policy in place to determine the executive directors' compensation, including researching comparable positions.
- No loans will ever be made to any officer or employee.
- LWB’s IRS Form 990 is distributed to the board of directors before it is filed with the IRS.
- LWB has a conflict of interest policy in place for board members, employees, and volunteers.
- LWB strives each day to be as honest and transparent as possible about everything we do. Have a question about how things are done? Just ask us! We will be happy to discuss anything we do. This is a team effort between you and us, and none of our work is possible without that trusted partnership. While we know that no company or corporation is perfect, we still work each day to be the absolute best charitable organization possible.