The Value Reporting Foundation Structure
The Value Reporting Foundation has a structure that includes a governing board of directors (the ‘Value Reporting Foundation Board’) and two independent boards that govern the content of the <IR> Framework and SASB Standards:
- The SASB Standards Board, which develops, issues and maintains the SASB Standards.
- The International Integrated Reporting Framework Board, which recommends any revision, modification or other update to the International Integrated Reporting Framework.
The Value Reporting Foundation Board oversees the strategy, finances and operations of the entire organization. It operates nine committees in order to optimize director expertise and efficiency and it receives market insights and advice from its advisory bodies, the International Integrated Reporting Council and the SASB Investor Advisory Group. Through its Nominating Committee, it appoints members of the SASB Standards Board and Integrated Reporting Framework Board. The Value Reporting Foundation Board is not involved in setting the SASB Standards but is responsible for overseeing the SASB Standards Board’s compliance with the organization’s due process requirements.
The Value Reporting Foundation has dual headquarters, in San Francisco, California, USA and London, England.
The Value Reporting Foundation is funded by a diverse mix of revenues, including:
- Grants from market supporters
- Grants from foundations and individuals
- Earned revenues from programs that educate the market about its standards and frameworks or provide tools for implementing them. These include membership and networks, professional education and training, licensing and events.
The Foundation takes care to ensure no funding type dominates the mix and that there is a broad base of supporters within each revenue type.