governance

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Governing Body:

Governance is the need of the hour in the development sector to ensure and promote application of best management practices, compliance of law and adherence to best possible ethical standards. Soul Foundation’s evaluation mechanism ensures assessing impact of investment, complete transparency and accountability in utilization of funds.

The policies laid down are not used as tools of legal or regulatory compliance. Some of them are part of legal compliance; however their main aim is towards a better and transparent governance.

Structure:

  • Governing/Supervisory Body
  • Executive Management
  • Implementation committees for each of the objectives laid out in the Vision and Mission statement including a CSR committee.
  • Adhoc committees
  • Ombudsman body




Supervisory body:

The foundation’s supervisory body is designated with the responsibility of independently monitoring governance practices. This improves our ability to identify any weakness at the earliest possible stage by ensuring that accountability remains an ongoing priority and is embedded in the organizational culture.

Purpose: Oversight functioning of the foundation and to ensure that the management fulfills its ethical, legal, functional and fiduciary responsibilities effectively.

Define expectations, Grant power and Verify performance
  • Ensuring that evaluation process is in place for each of the executive members.
  • Set and maintain vision, mission and values and develop long term strategies in consultation with the committees and ground level feedback
  • Monitoring governance principles and policies and regular review of execution level of projects on an overall basis.
  • Electing new members to the management.
  • To investigate any governance related concerns raised by trustees or staff.

Executive management:

The Management consists of 3 main committees for the overall day to day operation each consisting of their own teams : the function of these general committees is to communicate the expectations and ensure its implementation and reporting of the performance.

  • Executive committee
  • Fund raising committee
  • Funds disbursal committee

Implementation committees:

The foundation for the actual implementation of the each of its objective, has a committee in place looking after each of its objectives in the missions. These are the committees in touch with the relevant local bodies, grass root organizations and other support groups. Each of these have multiple project teams under them and detailed reports related to the project implementation are monitored by them on a monthly basis.





CSR Committee:

This is a separate group under the implementation committees which collaborates with the various Corporates on one hand and the relevant internal committee for the fulfillment of this tie up.

Adhoc committees:

Formed for short term purpose for specific events or one time topics formed from members of all standing committees as required. Dissolved after purpose fulfilled.

Ombudsman body:

The foundation has a detailed whistleblower policy and committee in place in line with its principle for zero tolerance on misconduct. This is an independent committee where stakeholders can voice their concerns and complaints in an environment free from threat of retaliation. There is a follow up mechanism to ensure that complaints are acted upon in a responsible and effective manner. These complaints can be related to malpractices, impropriety, abuse of power, unlawful or unethical practices or conduct on part of any person related to the foundation. While the smaller issues are handled by the heads of the various committees, the ombudsman would do an independent evaluation and detailed investigation if required and submit a report of findings to the supervisory board/governing body(check)

Annual general meeting of all the stakeholders

The AGM of the foundation includes beneficiaries, donors, regulators, community , other NGOs, citizen groups, staff and volunteers. This is the most effective tool for 2 way communication with all the stake holders . the rationale behind this is developing a mechanism for engaging with different stakeholders and giving them an opportunity to engage with the board, review financial information , clarify their claims and interests , make suggestions and ask questions.

Internal program audits

We have quarterly(check) audits and assessment of the projects ongoing under various committees which is other than the statutory external audit. This acts as a measure of health of our organization and assures donors, partners beneficiaries and other stakeholders of the right utilization of the collected funds. These internal finance and program audits help the management and the governing body to reflect upon their performance and if required, take a corrective action.


 

Social Audits:

SOUL foundation is committed to fulfill its objectives to the maximum benefit of the society at large. Social audit is a process that enables an organization to assess and demonstrate its social, economic and environmental benefits. It is a way of measuring the extent to which an organization lives up to the shared values and objectives it has committed itself to. We undertake this exercise initiated by the management but independent of the management by a team of stakeholders and experts wherever required. The Governance & Credibility System includes a systematic set of norms, which is administered and monitored by a qualified Expert.

Quarterly Journal:

Besides the above we plan to publish a quarterly newsletter which includes the status of all the projects and their donors.

Online real time monitoring:

All our projects once operational will be available for review by the stakeholders /donors with the help of technology like webcams/online reports/GPS etc. Modern Digital technology as well traditional print medium will be used to display or exposing all activities/projects/movements in the interest of general public, stakeholders, donors, investors, executives, volunteers and beneficiaries.

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