I read with interest the two articles on the Olympic Medical Center Foundation and what I can say is it should be a lesson to all of those who “manage” nonprofit, charitable or religious organizations. In over 30 years as a CPA I have given the following advice to many nonprofit clients or organizations to which I have belonged.

Be open and honest about your finances. Publish regular financial statements which report both the financial position (balance sheet) and the activities and changes in net assets for all unrestricted, permanently restricted and temporarily restricted funds.

In today’s world, nearly every organization has a website and thus has a great opportunity to publish its financial statements (preferably audited) for all prospective donors to see.

The really great lesson that you will learn, and what I have experienced in nearly every case, is that the openness with your financial affairs increases the likelihood that contributions will increase.

Openness promotes trust.

David Papandrew

Sequim