At Sitawi, we work with Philanthropy Management for over 10 years. Our trajectory, which includes over 90 Philanthropic Funds, was driven by the organization's concern for the compliance. This concept refers to the set of actions and standards that guarantee the transparency and the accordance with Brazilian legislation.
Here, all our projects undergo evaluation and approval by a team specialized in compliance. This way, we ensure that all administrative and financial transactions take place in an ethical and transparent manner.
But, after all, do you know how important this compliance is for philanthropic actions?
Transparency in fund management
Philanthropic Funds need financial contributions from donors that allocate capital to beneficiaries, who will use it to promote positive socio-environmental impact. As an organization that bridges these two agents and takes care of the management of financial resources, Sitawi needs to account for what and how this capital is used.
In this process, the performance of compliance is essential. After all, donors need to be assured that their donations are having a suitable destination and beneficiaries need to know that the entire amount donated is being passed on. Acting with transparency, through contracts and financial statements, we ensure this comes to fruition.
How the compliance Act
The compliance analyzes contracts and financial transactions and gives the go-ahead for them to continue or be adjusted. This way, a transaction is only closed when it fully meets the expected ethical and transparency standards. As our analyst confirms, Compliance, Daniella Nakandakari:
“Transparency is one of Sitawi's values, which values accessibility, clarity and reliability in its activities. Therefore, Compliance works to ensure that processes comply with current legislation and internal regulations through activities such as: raising awareness among staff so that they understand their role and responsibilities, control procedures, risk assessment, monitoring the reporting channel, dissemination of internal and external policies, monitoring and continuous improvements, among others.”
Guaranteed positive impact
Now that you know the importance of compliance and how we take this concept seriously at Sitawi, check out our Philanthropy Management projects and see how many causes we support in an ethical and transparent way.
