Social Performance Task Force Inc

What it reported doing in 2024

Setting and promoting standards: the universal standards for financial service providers were first launched in 2012 and updated in 2016. Sptf manages a technical review committee (trc) to follow a transparent and user-driven standard revision process based on the iseal code of good practice for setting social and environmental standards. The revised standards have been designed to keep pace with the financial sector industry's needs and provide new guidelines on responsible savings and insurance products, as well as delivery channels using digital services and agent models, all with an eye toward mitigating risk and creating benefits for clients. The universal standards also include new content on responsibility to the environment. The trc reviews the universal standards every 3 years. Sptf is in charge of gathering and processing all feedback received from the inclusive finance industry, as well as with the broader impact investment community. Manage effective communications - after releasing the universal standards in 2012, sptf developed several resources to help with their awareness and implementation, such as brief handouts, message manuals, the universal standards implementation guide, case studies, guidance notes, and videos of early adopters. Sptf also communicates via social media.conduct trainings and workshops - sptf attends select conferences around the world to offer trainings on the universal standards and supporting tools and resources. Sptf also conducts monthly online webinar trainings and working group meetings to highlight case studies of good practice, to provide overviews of assessment and reporting tools, and to support peer to peer learning. Manage the social investor working group (siwg) - the siwg has +300 investors from +120 organizations. It is a member-led group that the sptf secretariat backstops, coordinating logistics of all meetings, webinars, and updates of initiatives. Sptf annual meeting - since 2005, the sptf has been conducting an annual meeting where industry stakeholders from around the world come together for several days of thought-provoking discussions on core and emerging topics in the field. Members have described the meeting as "the state of practice in social performance and responsible finance". This meeting is key to understanding the progress and challenges in the implementation of the universal standards. The meeting is conducted in a different region of the world each year to ensure all sptf members can attend throughout the years. In the last few years, meetings have also allowed the sptf to engage with regulators and also included field trips to local fsps. Secretariat staff coordinate all meeting logistics and develop agenda and content of discussions.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 94.6%; rating input score 95
• Fundraising efficiency: $1,315.8 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -77.2%; rating input score 2; 2nd percentile among comparable filings
• Total-asset coverage ratio: 0.77; rating input score 35; 35th percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
• Officer compensation ratio: 16.9%; rating input score 19; 19th percentile among comparable filings

Growth

• Program expense growth: 6.2% per year; rating input score 100; 48th percentile among comparable filings
• Revenue growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
• Asset growth: -2.7% per year; rating input score 0; 10th percentile among comparable filings