Precept Ministries has been a member of Evangelical Council for Financial Accountability (ECFA) since 1984. ECFA is an accreditation agency dedicated to helping Christian ministries earn the public's trust through adherence to seven Standarfs of Responsible Stewardship. Founded in 1979, it is comprised of over 1,200 evangelical Christian organizations, which qualify for tax-exempt, nonprofit status and receive tax-deductible contributions to support their work.
ECFA's Standards of Responsible Stewardship focus on board governance, financial transparency, integrity in fund-raising, and proper use of charity resources.
ECFA has set the standard for financial transparency and accountability for Christian non-profit organizations. Their assessments of Christian ministries and organizations help donors form educated decisions about whom they can have confidence supporting financially. ECFA provides explanations for their methodolgoy in assessing Christian ministries and organizations at:www.ecfa.org
With the growth of ministry watchdog organizations who evaluate Christian non-profit entities exclusively on the basis of financial statements, ECFA cautions potential donors about forming an opinion solely based on financial performance measurements without recognizing the valuable and often non-financially-profitable accomplishments of each ministry.