The Sephardic Community Federation (SCF) today announced the launch of a new initiative to enhance transparency and accountability for charities in the Sephardic communities in New York and New Jersey.

Working with leaders of several community organizations, the SCF will be forming an independent committee of legal and policy experts to develop a set of rigorous accounting guidelines for all tax-exempt community organizations to adopt.

The independent committee will be led by attorney Eli D. Greenberg, who is a partner at the firm of Wolf Haldenstein Adler Freeman & Herz LLP, and is a recognized authority on corporate and not for profit governance.

“The Sephardic Jewish community prides itself on upholding the highest standards of both ethics and law, and most of the community’s non-profits already operate in accordance with these high standards,” SCF Executive Vice President David Greenfield said.

“But in light of recent events, we wanted to leave no question about our commitment to the values of transparency and accountability. So we are taking the unprecedented step of having an independent body review the work of the community’s charitable organizations and certify that they are operating at the highest standards of integrity.”

The new standards committee will strongly urge every community organization to certify through Loeb & Troper, a leading independent accounting firm specializing in non-profit compliance and audits, that they follow these guidelines. The committee will publicize the organizations that have received this certification and will urge community members to contribute to those organizations. This certification program will ensure each organization’s compliance with at least the following:

 •  Annual audits of the organization by an independent certified public accounting firm (cost permitting).
 •  The creation of an audit committee to meet directly with the organization’s auditors on a regular basis.
 •  The adoption of a “conflicts of interest” policy to protect against non-permitted benefit to directors, officers and employees. Educational compliance programs for officers and members of the board.
 •  The adoption of procedures as to accepting contributions and distributing grants.
 •  Annual affidavits by the organization’s president and treasurer as to the organization’s compliance with all applicable laws.

“These proactive steps have broad-based support from across the spectrum in the community. Over the coming weeks we will be rolling out endorsements of this effort from other major grass-roots, lay-leadership and Rabbinical groups from within the community.” Greenfield concluded.

The Sephardic Community Federation (SCF) is the umbrella public policy organization of the Sephardic Jewish Community.

(YWN Desk – NYC)