Nonprofit groups, both large and small, should provide their stakeholders with detailed analyses of their performance, a London-based think-tank says.
AccountAbility, a nonprofit that works for greater accountability among companies and nonprofits, released its own assessment of how well it has achieved its stated strategic and operational goals.
The group formed a third-party panel of stakeholders to provide feedback on whether AccountAbility had focused on the issues most important to stakeholders and whether it had addressed those issues and other concerns adequately.
The report will be fully audited by 2007, the group says.
Such reporting helps nonprofits gain credibility, understand the true impact of their work, learn new ways to improve their work and ensure their activities are mission-focused, the group says.