Charity Vetting Process
Nonprofit Vetting Intro
The Mite Research and Vetting Process is integral to the fulfillment of our mission. Mite’s primary objective is to foster an environment of trust and confidence among our donors, guaranteeing that their contributions are allocated to the intended projects with the proposed beneficial impact. To achieve this objective, we rigorously vet proposed nonprofits as a first step in the Mite Process. This due diligence step ensures the selection of exemplary nonprofit partners and, subsequently, outstanding charity projects.
Research & Vetting
Research constitutes a substantial and foundational element within the Mite Process. Our dedicated team invests months in diligently and comprehensively evaluating potential nonprofit organizations. While we utilize reputable charity watchdog sites such as Charity Navigator, ECFA, Guidestar, and CharityWatch, our analysis extends far beyond mere reference checks. We meticulously scrutinize multiple aspects of the nonprofits' organization.
Vetting Nonprofit Structure
Our nonprofit vetting process entails a comprehensive examination of the partner organization's mission, vision, and core values. Additionally, we delve into their leadership structure, vetting major changes within the nonprofit. We seek to understand leadership experience and level of involvement.
Vetting Nonprofit Financials
While we prefer nonprofits that publish their 990 forms on their website, we acknowledge that this is not common practice. Many times we rely on reputable charity watchdog sites to verify nonprofit financials. We pay attention to their expense ratio, percentage of fundraising expenses, sources of support, and any major changes and/or anomalies in revenue or expenses.
Vetting Nonprofit Story
Additionally, we vet the nonprofit's story, considering factors such as their compelling purpose, whether they address a genuine need, and whether they employ innovative approaches compared to their counterparts. Our charity vetting also focuses on geographical reach. If the nonprofit excels in these criteria, we proceed to establish communication with them, embarking on our detailed project-focused vetting process.
Charity Vetting Conclusion
The charity vetting process conducted by Mite embodies our unwavering commitment to selecting nonprofit partners and projects of the highest caliber. By leveraging an extensive research phase and a thorough nonprofit vetting process, we ensure that our organization remains synonymous with excellence, accountability, and meaningful impact. Just as important, the Mite Process ensures that donors receive a first in class experience.