Aspen Community Foundation in Compliance with National Standards
September 2006

Aspen Community Foundation is being recognized for having organizational and financial practices that are in accordance with the National Standards for U.S. Community Foundations. In order to achieve Confirmation of Compliance with the National Standards, community foundations must undergo an extensive review of their organizational and financial policies and procedures.

The Council on Foundations and leaders of the community foundation field created the National Standards in 2000 to aid community foundations in establishing legal, ethical, and effective operational practices that would show the foundations' transparency and financial responsibility in light of the increased public scrutiny of foundation practices. In addition, National Standards were developed to distinguish community foundations from other philanthropic vehicles, build the capacity of community foundations to carry out their missions, and assist the field with self-regulation in a manner viewed positively by the Internal Revenue Service.

"Adopting and adhering to high standards is the best way we can demonstrate our ongoing commitment to maintaining the trust of our donors and the entire community," said Tamara Tormohlen, Executive Director of Aspen Community Foundation. "We are committed to reaffirming the honesty and integrity that are a hallmark of our foundation."

U.S. community foundations serve tens of thousands of donors and administer more than $39 billion in charitable funds. Of the nearly 700 community foundations in the United States, over 500 have pledged to comply with the National Standards. To date, over 230 foundations have been found in compliance with National Standards. These community foundations represent foundations from across the nation and the size of their assets range from the smallest to the largest in the field.

Aspen Community Foundation, with assets of $30 million, is in its 26th year of building philanthropy and supporting nonprofits. In 2005 the Community Foundation distributed $3.4 million in grants through its donor advised funds and unrestricted grantmaking.

For more information on the Council, visit the organization's website at: www.cof.org.