May 08, 2017
Room to Read has earned two notable recognitions for demonstrating fiscal responsibility and organizational excellence, differentiating Room to Read from its peers and demonstrating to the public it is worthy of their trust and investment. Charity Navigator, America's largest, most utilized, independent evaluator of charities, has once again awarded Room to Read its coveted 4-star rating for sound fiscal management, and commitment to accountability and transparency. Additionally, Adaptive Insights has announced Room to Read the winner of its Torchie Award for Business Partnering and Collaborative Planning.
Room to Read has achieved 11 4-star ratings from Charity Navigator since 2007, indicating that Room to Read outperforms most other charities in America. As the nonprofit sector continues to experience unprecedented growth, savvy donors are demanding more accountability, transparency and quantifiable results from the charities they choose to support. Receiving 4 out of a possible 4 stars indicates that Room to Read is capable of efficiently managing and growing its finances while adhering to good governance and other best practices that minimize the possibility of unethical activities. An overview of Room to Read’s performance metrics can be found on the organization’s Charity Navigator rating page.
Charity Navigator bases its rating analysis on a charity’s financial health, accountability and transparency. Room to Read has proudly earned its 4-star rating for continuing to execute its mission in a fiscally responsible manner, with 84.7% of total expenses directed towards program costs. Rating 100 out of a possible 100 for accountability and transparency, Room to Read’s dedication to best business practices has led to conducting independent audits and openly publishing its financial records.
Adaptive Insights, a Palo Alto-based company in cloud corporate performance management, recognizes its customers who have achieved excellence in strategic financial planning and accounting categories such as operational planning, forecasting, and performance management through its Torchie Awards each year. Room to Read was selected out of 75 nominees to win this year’s award highlighting the increased collaboration between teams within the organization through the implementation of Adaptive Insights.
“At Room to Read we view good governance and fiscal transparency not as a hurdle to clear, but as an opportunity to show our donors, employees and other stakeholders that we are accountable, trustworthy and a wise investment,” says Shari Freedman, Room to Read’s Chief Financial Officer. “These awards are just two indications that we take seriously the responsibility entrusted to us by our donors to effectively utilize their contributions to impact the children and communities we serve.”