NCB Foundation

1.0 MISSION & CORE VALUES

• 1.1 Mission – The NCB Foundation respects and embraces charitable causes that are relevant to the betterment of Jamaica and leads in corporate social responsibility through strategic partnerships focused on the development of our nation’s people.
• 1.2 Core Values
  • 1.2.1 Commitment to improving Jamaica
  • 1.2.2 Relevant and excellent service to the community
  • 1.2.3 Human Development through learning and educational growth
  • 1.2.4 Results-driven strategic partnerships
  • 1.2.5 Exemplary leadership in corporate social responsibility

2.0 AREAS OF FOCUS FOR THE NCB FOUNDATION

• 2.1 To provide or harness opportunities for meaningful change/improvement in the Jamaican society by focusing on specific sectors namely, Education and Community Development.
• 2.2 To enhance the NCB brand by generating and strengthening the goodwill created from the Foundation’s philanthropic activities.
• 2.3 To encourage and facilitate volunteerism amongst NCB employees.

3.0 FUNDING APPROVAL LIMITS
3.1 The Foundation will have three (3) levels of funding:-

• Level One – funding of over $2,999,999
• Level Two – funding of $250,000 to $2,999,999
• Level Three – funding up to $249,999

3.2 Requests for funding at Levels One through Three will be approved as follows:-

• Level One – Board of Directors of the Foundation (ruled by majority decision)
• Level Two – Approvals Committee of the Board
• Level Three – Chief Executive Officer and non-Executive Board Director

3.3 A minimum of three (3) members of the Approvals Committee will constitute a quorum, with decisions being decided by majority vote.

4.0 REVIEW OF PROJECTS & REQUESTS FOR FUNDING
4.1 Each project or request for funding will be reviewed to determine if it falls within the areas of focus for the Foundation. Approval will be first subject to this primary condition being met, unless exceptionally agreed by the Board of Directors.

4.2 In assessing requests that do fall under the areas of focus for the Foundation and which require funding at Levels One and Two, preventative approaches and collaborative endeavors with government, philanthropic, private sector and not-for-profit entities will be more favorably considered, with priority given to projects that leverage additional support and serve as catalysts for long-term, systemic change.

4.3 As a general rule, the Foundation’s charitable contributions will not be used for:-

• 4.3.1 General operating costs – any proposal whatsoever to fund an operating cost requires specific Board approval
• 4.3.2 Academic or medical research
• 4.3.3 Advertising
• 4.3.4 Festivals & parades
• 4.3.5 Religious Institutions
• 4.3.6 Sponsorship of fundraising events
• 4.3.7 Tickets to events
• 4.3.8 Political causes, organizations or candidates
• 4.3.9 Trips and travel
• 4.3.10 Veteran or fraternal organizations.
• 4.3.11 Endowment Funds

4.4 The Foundation will not give money for personal aid to individuals requesting Level One or Level Two funding, except for scholarships

4.5 Contributions for personal aid to individuals requesting Level Three Funding will not be for the individual’s personal account (direct payment) and may not exceed $50,000 unless exceptionally agreed by the Board of Directors.

4.6 100% payments will not be made upfront but in tranches based on project progress.

4.7 Payments will be made to suppliers, unless otherwise exceptionally approved by the Approvals Committee of the Board.

4.8 All proposals for funding over $100,000 must include the following information:-

• 4.8.1 The organization's full legal name, complete mailing address, phone number, fax number, contact person's name and e-mail address.
• 4.8.2 If applicable, a description of the organization's relationship with NCB, the NCB Foundation or any of its Directors and Members.
• 4.8.3 A brief description of the organization, its purpose, history, programs and achievements.
• 4.8.4 A statement describing the specific purpose of the funds requested, including how the project meets the objectives of the NCB Foundation.
• 4.8.5 A statement of the amount of money requested and over what period of time.
• 4.8.6 A plan for how the program or services will be sustained after the conclusion of funding from NCB Foundation.
• 4.8.7 A plan for measuring results and reporting periodic progress, as well as for a final evaluation.
• 4.8.8 Financial information, including the organization's current operating budget and the budget for the proposed project.
• 4.8.9 A list of sources of income and amounts, including support from other corporate donors, Foundations, Not-For-Profits and the Government – committed and approaching.
• 4.8.10 Audited financial statements for the most recent fiscal year and the previous year.
• 4.8.11 A copy of the organization's certificate of legal and tax status.
• 4.8.12 A list of officers and board members with their contact details.

4.9 Funding requests under $100,000 will be assessed within the context of the objectives of the Foundation and decided on a discretionary basis by two (2) Directors (refer Section 2.2 – Level Three). In exercising this discretion, the assessment will consider, but not be limited to how the request can help advance work in a particular area under the objectives of the Foundation, as well as evidence that the applicant is likely to achieve the purpose for which the funding is being requested.

4.10 In some instances the Foundation will request that the organization making the request match the Foundation’s donation with funds from other sources.

4.11 The link for the NCB Foundation on the Bank’s corporate website (www.jncb.com) will contain information on guidelines, application forms, etc., and individuals and organizations can use this channel to submit their requests.

5.0 PROCESSING TIME FOR REQUESTS FOR FUNDING
5.1 All requests will be promptly acknowledged by telephone or email and the applicant advised whether their request is within the objectives and budget limits of the Foundation. Normally, applicants may expect to receive within the following timeframes, an indication of whether their request is approved or declined:-

• 5.1.1 Level One (Board Approval) - at least six (6) weeks after submission
• 5.1.2 Level Two (Approvals Committee) - at least four(4) weeks after submission
• 5.1.3 Level Three (CEO and other Director) - at least two (2) weeks after submission

6.0 ROUTING OF DONATIONS THROUGH THE NCB FOUNDATION BY THE BANK & SUBSIDIARIES
6.1 The Bank and its Subsidiaries will route donations through the NCB Foundation where these fall within the objectives listed under Section 1.1 of this Operating Framework. Such donations will be first duly approved under the existing NCB Expenditure Approval Policy and then instructions for payment made to the Foundation for further disbursement to the recipient of the donation. The Foundation will receive prior email notification of these payments from the Head of NCB Group Corporate Communications as follows:-

• 6.1.1 Level One ($3M and over) – the Board of Directors
• 6.1.2 Level Two ($250K to $2.99M) – the members of the Approvals Committee
• 6.1.3 Level Three (under $250K) – another Director of the Foundation

7.0 INVOLVEMENT, MONITORING AND MEASUREMENT OF FOUNDATION IMPACT

7.1 As far as possible all projects for which funding of over $100,000 is provided by the Foundation must have a measurable impact/outcome to define the level of success.

7.2 Progress on Level One projects that are funded by the Foundation will be reported to the Board of Directors each month, where the project is ongoing – this includes both projects that are directly initiated and primarily sponsored by the Foundation and those for which funding was solicited by an applicant.

7.3 The Board will receive a monthly report on all disbursements made in the prior month and the outcome of any monitoring and impact measurement that have resulted.

7.4 The Foundation will encourage the participation of its Directors and NCB employees in the projects that are approved for funding, soliciting their feedback on the impact of the project towards advancement of the objectives of the Foundation.

7.5 In order to facilitate and promote the spirit of volunteerism, the Foundation will consider more favorably than others, requests for funding towards those charitable works that NCB employees and directors donate to or are involved in, provided these fall within the objectives of the Foundation.



AUDITED FINANCIAL STATEMENTS

The directors submit herewith the financial statements of N.C.B. Foundation for the years ended December 31, 2006 and December 31, 2007. To read the full financial reports, click the links below:

• 2006 Financial Audit
• 2007 Financial Audit