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Title [Ajunews] "Is my donation going to be used properly?"...'Guide Star' led by transparency in public corporations
Name knf
Date 2020-06-17 Hit 31

[2020-06-11]

 

 

Children's Foundation, Korea Compassion Fashion, Good Neighbors, Children and Future Foundation.

 

They have something in common. It is a public interest corporation that received a perfect score of '3 stars' in recognition of transparency and accountability from'Korea Guide Star' for 4 consecutive years.

 

The Korea Guide Star is taking the lead in creating a culture of'knowing properly and donating smartly' by evaluating and releasing the transparency and financial safety of domestic public interest corporations based on data from the National Tax Service every year.

 

Whenever the Mir Foundation and K-Sports Foundation incidents that led to the National Agricultural Cooperative Federation's incidents, and the problem of bad accounting in the Justice and Memory Regiment, the social voice that a'braking device' was needed to monitor whether the donations made by individuals or companies were properly used It is increasing.

 

Guide Star emphasizes that the role of the evaluation agency for public interest activities is more important than ever before in order to resolve this suspicion and spread and develop the donation culture of Korean society.

 

◆To Stop'Blinking Donations'

 

According to the Current Inheritance Donation Tax Law, public interest corporations with income of over 5 billion won or donations of over 2 billion won in the relevant business year must be subject to external audits every year, and the results must be disclosed on the website of the National Tax Service. However, there are still a number of organizations that do not disclose full-time external audits.

 

Based on the data from the National Tax Service in 2019, the Korea Guide Star analyzed the disclosure. As a result, more than half of the 9663 compulsory public interest corporations (58.5%) were not externally audited.

 

Guidestar insists that donation organizations should communicate in detail the organization's income, expenditures, and business outcomes through communication with donors so that the donation culture does not shrink.

 

Contributing developed countries have implemented such a system early. In the U.S., there is a department within the IRS that manages and supervises various types of public interest corporations, and the UK operates a charity commission that conducts registration and regulation of charities. Australia has established an independent charitable non-profit organization committee (ACNC) that manages them.

 

The goal of the Korea Guide Star is to provide a variety of non-profit statistics to non-profit stakeholders and donors to play a leading role in policy improvement and non-profit statistical analysis.

 

Kwon Oh-yong, Executive Director of the Korea Guide Star, said, "Social expectations regarding transparency in non-profit information as well as in non-profit information are gradually increasing." Donation to the Republic of Korea through fair production and transparent provision of information from public interest corporations so that donors can make wise donations "I will innovate culture."

 

◆Contribution to growth of non-profit organizations and donation culture

 

Guide Star was founded in 1994 by Buzz Schmidt in the United States. In 2006, former President Song-Ya Song and former Professor Tae-Kyu Park of Yonsei University took the first step in 2006 by forming an executive committee to introduce the civil society information system.

 

In March 2007, the Guide Star Korea Foundation founding general meeting was held, and in February 2008, the Ministry of Strategy and Finance approved the foundation.

 

In 2013, it was designated as the first public benefit corporation that can submit financial statements from the National Tax Service. Guide Star performs quantitative and qualitative evaluations based on corporate disclosure data, etc., and then ranks them and publishes them on the website for anyone to see.

 

In 2018, the 10th anniversary of the foundation's foundation, the public announcement system, such as settlement documents, and proposals for improvement of the disclosure form were submitted to the Ministry of Strategy and Finance, and this improvement was partially reflected in the Article 4, Paragraph 1 of the Enforcement Rules of the Incremental Tax in March last year. In April of last year, we participated in the Transparency Improvement Policy Task Force (TF) under the supervision of the Ministry of Strategy and Finance, continuously striving to grow public interest corporations and promote a donation culture.

 

 

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