At Sitawi, we work with Philanthropy Management (Fiscal Sponsorship) for more than 10 years. Our trajectory, which has more than 90 Philanthropic Funds, was driven by the organization's concern with the compliance. This concept refers to the set of actions and standards that guarantee transparency and compliance with Brazilian legislation.
Here, all our projects undergo evaluation and approval by a team specialized in compliance. Thus, we guarantee 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 who allocate the capital to beneficiaries, who will use it to promote positive socio-environmental impact. As an organization that bridges the gap between these two agents and takes care of managing financial resources, Sitawi needs to be accountable for what and how this capital is used.
In this process, the performance of compliance it is fundamental. After all, donors need to be assured that their donations are being properly disposed of and beneficiaries need to know that the entire amount donated is being passed on. Working with transparency, through contracts and financial statements, we guarantee this to happen.
How the compliance Act
Compliance works by analyzing contracts and financial transactions and giving approval for them to continue or be adjusted. In this way, a transaction is only closed when it is fully within the expected standards of ethics and transparency. As our Compliance analyst, Daniella Nakandakari confirms:
“Transparency is one of Sitawi’s values, which values the accessibility, clarity and reliability of its activities, in this way, Compliance works to ensure that processes are in compliance with current legislation and internal regulations through activities such as: team awareness so that you understand your role and responsibilities, control procedures, risk assessment, monitoring of 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.