Changes in technology and economic cautiousness have dramatically changed the level of transparency expected among charities and nonprofit organizations, and the people seeking out donations should be prepared to offer donors an extraordinary amount of information and explanation on how monies will be spent. This was the message from panelists to guests at the most recent installment of the SB2 symposium series on the “Business of Philanthropy-Effective Practices and Oversights.”

“Technology has changed everything for nonprofits,” said Veronica Brady, senior vice president for Philanthropy at the Gulf Coast Community Foundation. “Information just has to be out there.” Organizations have to provide financials, often by law, and are advised to put audit information and other details.

The event, sponsored by SRQ Media Group, was hosted at the IMG Academy Golf Club in Bradenton Monday and brought a group of financial and philanthropic leaders together with an audience made largely of officials from regional charities.

Bob Blalock, principal at Blalock Walters, said organizations should embrace the audit process. He shared the story of a nonprofit that resisted doing audits for several years, then had one show areas where the organization was not being treated well by partners organization leaders had trusted for some time. “Don’t ever forget the people who steal from you are the people who are close to you,” he said. Audits give confidence both to donors and to those working in an organization that everything is being handled prudently.

Jay Clarkson, CPA principal at CS&L CPAs, said new laws stress fiduciary responsibility in the governance of charities. He clarified certain aspects of the law (rotating auditors is not required, for example) andsaid regulations since the start of the Great Recession have stressed transparency and good practices. “There has been more attention toward good governance,” he said. There also is much more disclosed on financials, and those financials are more easily accessible by donors and financial advisors.

Julie Lyman, vice president of Donor Relations for the Community Foundation of Sarasota County, said donors and foundations alike want to know a great deal about operational practices for charities. “We do site visits with donors; we do site visits ourselves,” she said. “We go a long way in making sure donors’ donations are going where they should.”

Jeff Troiano, shareholder at Williams, Parker, Harrison, Dietz and Getzen, said he encourages his clients to make such visits before making major contributions. “It’s important to see how organizations work,” he said. “It’s not just about the financials they put on the internet. It’s about seeing how they run day to day.”

The next installment of SB2, “Boomers and Caregivers-Tools to Navigate the Road Ahead,” will be held Jan. 22 at The Francis in Sarasota.