EFC Principles of Good Practice
Basic information
- Host or sponsor: Umbrella organisation
- Type: Code of Conduct/Ethics
- Year established: 1996
- Status: Active
- Thematic area: Philanthropy
- Summary: The EFC Principles of Good Practice encompass a set of seven principles based on an identified set of core values that every foundation in Europe should aspire to embrace. The area addressed include compliance; governance; informed policies; operations and support programmes; stewardship: management and finance; disclosure and communication; monitoring and evaluation; and cooperation. They are intended to be applicable both within the European Union and in the context of the wider Europe. The latest Principles document dates from 2007, but this is an update on earlier work first prepared in 1994 and subsequently revised in 1995-6 and 2005-6.
Contact details
- Host organisation: European Foundation Centre
- Acronym: EFC
- Website: www.efc.be
- Email: efc@efc.be
- Phone: +32 2 512 8938
- Address: 51, rue de la Concorde 1050 Brussels Belgium
Areas addressed
- Principles or standards: Principles-based
- Communications / advocacy / fundraising:
- General commitment to transparency
- Governance and Management:
- General commitment to good governance
- Auditing
- Financial reporting
- Monitoring and Evaluation:
- General commitment to evaluation
- Cross-cutting thematic areas:
- CSO collaboration and partnership
Further info: The EFC Principles fo Good Practice also include commitments to developing and regularly revising internal policies and procedures in support of a clealry established mission and objectives.
Participation
- Reasons for participation
- Membership requirement
Compliance
- Monitoring mechanism: Commitment only
- Description of monitoring mechanism: While there is no specific monitoring mechanism, the EFC provides substantial support to its members in implementing the Principles of Good Practice. The EFC has published the Implementing EFC Principles: Illustrative Practice Options for Foundations guide and also supports a working group focused on the Principles.
Assessment
The EFC Principles of Good Practice focus on key, and often overlooked, component of CSO self-regulation: the role of foundations. Although the Principles are quite broad, the EFC's provision of additional guidance, working group based support, and resources such as links to other self-regulatory initiatives as they relate to foundations makes this code of conduct more than a simple document.
