Financial Disclosure Rules for fundraising on GIST Support International
GIST Support International may choose not to list events of organizations whose activities are not in agreement with our principles, regardless of their financial disclosure practices. However, financial transparency is a requirement, as detailed below.
Category 1: DIRECT GRASSROOTS FUNDRAISERS. Donations are gathered by individuals and donors write checks DIRECTLY to the research institutions. Research institutions can see the names of the donors, directly. No other disclosure is needed, but permission is required prior to promotion of the effort on our listserv.
Category 2: INDIRECT FUNDRAISERS. Donations are gathered by "middle men" recipient organizations and checks are made out to these recipient organizations rather than directly to the research institutions. Such organizations, before promoting their fundraisers or discussing their other events on GSI's listserv, must sign a document agreeing to state (in all literature, oral presentations, check presentations, media events, etc.) that fund collection was accomplished "with GIST Support International." All such organizations must meet the following GSI disclosure criteria:
A) If the recipient organization receives no pharma grants or any other corporate funds: A clear statement of this is required, plus a clear statement of the percent of overhead versus the percent of collections actually donated to the charitable cause.
B) If the recipient organization receives corporate and/or pharma funds: Fully transparent disclosure (for the last 3 years, or since inception if the organization is less than 3 years old) is required, including:
- public display of IRS Form 990 and associated schedules
- a complete list identifying all corporate grants or donations, names of the companies and the amounts.
- an explanation of pharma grants, purposes, and how the money was actually used.
- ALL income, and ALL disbursements including contributions to overhead and any purposes other than the donations to research recipients.
- ALL corporate-provided services such as items, PR services, media services, etc.
- ALL middle-man recipients of donations must be CLEARLY identified, with approximate percentages of donations retained by each middle-man.