Accountability and transparency are of growing importance in the not-for-profit sector. They allow donors to make informed decisions about where they give, they help keep staff and volunteers motivated, they let directors demonstrate their organization's integrity, and they build confidence among an often cynical public. The Voluntary Sector Reporting Awards (VSRAs) give not-for-profit organizations a valuable opportunity to prove that they take the issue of high quality reporting seriously.

The VSRAs were created in 2008 by the CA-Queen's Centre for Governance, which is a partnership between the Queen's School of Business and the Institute of Chartered Accountants of Ontario. PricewaterhouseCoopers Canada LLP has been a sponsor of the program since its inception. The program continues in 2009 with the addition of a new category - international and national voluntary sector organizations headquartered in Ontario.

Financial awards will be given for annual reports which demonstrate the highest levels of accountability and transparency, and which communicate effectively with beneficiaries, donors and stakeholders. The Awards are designed to recognize the quality of reporting in the not-for-profit sector and aim to:

reward best practice in financial and non-financial disclosure;
raise the standard of annual reports including the provision of higher quality financial information in those reports; and
encourage more voluntary sector organizations to provide their reports and financial information online

Eligibility and deadline

Awards are open to all registered charities excluding organizations whose principal activities are run by or for municipalities, universities, hospitals or school boards (i.e. the MUSH sector). Eligible organizations for the 2009 competition should be headquartered in Ontario. Divisions of national organizations that produce separate annual reports in Ontario are also eligible. Eligible organizations must have audited financial statements either included in the annual report or submitted with the report to complete the nomination.

Anyone can nominate an organization - management, board members, auditor, client or donor. Nominations must be submitted through the nomination link provided by July 30 2009. The judging period takes place until September 30, 2009. Recipients will then be announced at the Awards Luncheon in November.

Selection Criteria and Process

Judges will assess the reports based on the following criteria:

Availability
- Are the report and accounts easy to find on-line or are they made readily available to stakeholders? For example, on-line can the report be found within three clicks of the homepage, through a search facility or site map? Are reports that are not on-line distributed promptly to all stakeholders in a manner that is appropriate to the organization?
Clarity
- Is your organization's mission clearly stated? Is it easy to find your organization's achievements?
User friendliness
- Is there a good balance of design, content and functionality? Have graphs and pictures been used? Does your report complement other areas of your organization's communications strategy?
Accessibility
- Is it easy to read and comprehend? Is it available in alternative formats (e.g. downloadable if on screen, large type face if print etc)?
Impact
- Does your reporting demonstrate openness and transparency? Do your reports tell a story to draw your supporters into your work? Does it include quality financial and non-financial results? Does it give information about the future?

A screening group will evaluate the annual reports for technical merit. The highest scoring annual reports will go through to the second stage and be judged by an independent panel of experts.

The winners will be announced at the Awards luncheon in November 2009. Once the awards have been announced, each entrant will receive general feedback. Those that make the short list will receive additional comments from the judges on their reports based on the selection criteria listed.

For examples of factors that contribute to excellent annual reports, see "Best in Class" Annual Reports: Results from a Focus Group, and Imagine Canada's The Ethical Code especially Section C.

How to Enter

To nominate an organization please complete the nomination form on-line by July 30, 2009.

Entries must include a link to your organization's most recent annual report including the audited financial statements if it is available online. However, if your annual report is not available online or if it does not contain the audited financial statements, you will be asked to e-mail an electronic version or mail a hard copy of the report or the audited financial statements upon submission of the nomination form. In this case you must also add a statement explaining when and how the hard copy annual report and/or financial statements are distributed to the organization's stakeholders and how this is sufficient to meet your organization's accountability to its stakeholders.

The VSRA will not penalize organizations that provide only hard copies of their annual reports or their audited financial statements as long as this explanation accompanies their nomination.

Award Categories and Prizes

Organizations will be entered into one of five categories:

NEW category: National and international focused organizations headquartered in Ontario
total revenues over $10 million
total revenues from over $1 million to $10 million
total revenues between $500,000 and $1 million
total revenues less than $500,000

A $5,000 award for training and development will be granted to the entrant with the best annual report in each category.

All entrants will be invited to attend the Awards Luncheon. Award recipients and short listed organizations will receive a certificate of commendation and judges' feedback.

Awards Luncheon

The Awards Luncheon will be held in November 2009 in Toronto. More details will follow shortly.

The 2008 winners were:

Total revenues over $1 million – a tie.

Covenant House Toronto
United Way of Greater Toronto

Total Revenues of $500,000 up to $1 million

Sarnia-Lambton “Rebound” – A Program for Youth

Total Revenues less than $500,000

Children’s International Learning Centre