Changes and Developments to GuideStar
March 31, 2014
By Timothy Schroeder, CPA
In March 2014 GuideStar announced a new initiative called GuideStar Exchange, which will allow nonprofit organizations to access their individual GuideStar profiles and update the “People and Governance” section with selected board leadership practice information free of charge. This information includes board orientation and education, CEO oversight, ethics and transparency, board composition and board performance. The information is expected to be available to the public in the next few months. The goal is to enable GuideStar users to have a deeper understanding of the governance structure of these nonprofit organizations in a “one stop shopping” manner, thereby promoting greater transparency of not just the financial information of a selected nonprofit organization, but also its practices as well. This program will also allow nonprofit organizations to update missing or incorrect information, such as correcting an address or other data.
Obviously while this process will be free to the nonprofit organizations themselves, GuideStar maintains a tiered fee structure for its users that remains unchanged.