GIFE (Group of Institutes, Foundations and Enterprises) published last December, in partnership with the Brazilian Institute for Corporate Governance (IBGC), the Guide to Best Practices in the Governance of Corporate Foundations and Institutes (Guia das Melhores Práticas de Governança para Fundações e Institutos Empresariais).

It is the first Brazilian publication focused on governance for non-profit organizations. Its objective is to offer practical examples of good governance to directors, CEOs, trustees and managers of corporate institutes and foundations. It was developed over 12 months through a collaborative and participatory process, involving IBGC and GIFE members as well as other civil society leaders and social entrepreneurs. It is based on the IBGC Governance Principles (transparency, accountability, equity and responsibility) and GIFE recommendations. Governance will also be the topic of a session at the GIFE Congress in April.  

Among other things, the guide recommends that there should be a balance between company and public interests; that trustees should be voluntary; and that companies should pay for any advertisement or marketing campaigns using the company brand. The guide also highlights the growing importance of good governance practices as a means of self-regulation to all sectors of the economy (including non-profits).

According to Fernando Rossetti, secretary general of GIFE, the guide will help to ‘change the practices of corporate foundations and institutes, to stimulate private companies to create their own foundations or institutes, to assure shareholders of the good usage of corporate brands, to improve the overall practices of the philanthropy sector and to increase its legitimacy within society and government’.

Spanish and English electronic versions of the guide are expected to be published this year.

For more information
http://www.gife.org.br and http://www.ibgc.org.br
To download the guide, go to http://tinyurl.com/y8fpocc