The FMB has developed a set of financial management standards and financial performance measures specifically tailored for Indigenous not-for-profit organizations (“NPOs”), including tribal councils operating as NPOs. These NPO Standards build upon the FMB's experience as a standards-setter for First Nation governments.
The FMB announced the first exposure draft of the NPO Standards in June 2020. Stakeholders were invited to learn about the proposed standards in the document, Proposed Standards for Not-for-Profit Organizations - Invitation to Comment, and to provide their comments and feedback by September 30, 2020. This comment deadline was further extended to April 30, 2021, and the NPO Standards became effective September 1, 2021.
In accordance with the FMB's Standard-Setting Guidelines, a narrow scope amendment was approved by the FMB Board on December 14, 2023 without exposure draft. The amended NPO Standards are effective April 1, 2024. Also available is a redline version of the Standards highlighting the changes, and the Narrow Scope Amendment Explanatory Notes.
The NPO Standards are intended to:
- Set out best practices in financial management for NPOs
- Benchmark financial accountability and financial performance for NPOs
| Indigenous Not-for-Profit Organization Standards | This document contains the NPO Standards effective April 1, 2024. |
| Indigenous Not-for-Profit Organization Standards (Redline) | This document contains the NPO Standards effective April 1, 2024 and shows the changes from the previous version effective September 1, 2021. |
| Narrow Scope Amendment Explanatory Notes | This document is intended as a companion document to the NPO Standards redline document. It provides explanatory notes of the narrow scope amendments made to the NPO Standards. |
Standard-Setting Process
Similar to other standard-setting organizations, the FMB follows a defined process when developing and setting standards. This process is important to ensure the standard setting process as transparent as possible and allows interested individuals and organizations to provide comments. The FMB's standard setting process is described on the Standard-Setting Process page.
The narrow scope amendment approved by the FMB Board on December 14, 2023 provided an expansion of the by-law requirement to a by-law or policy option. The FMB Board approved the amendment without an exposure draft period as the substance of the NPO Standards did not change. Additionally, the Standards were further amended to incorporate editorial corrections to provide further clarity on the by-law or policy option.
Working with the FMB
NPOs and tribal councils interested in working with the FMB are encouraged to contact us.
The FMB is currently able to offer compliance opinions on both Part 1 and Part 2 of the NPO Standards to interested NPOs.