The SASB Foundation operates in a governance structure similar to the structure adopted by other internationally recognized bodies that set standards for disclosure to investors, including the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). This structure includes a board of directors (“the Foundation Board”) and a standard-setting board (“the Standards Board”). The Standards Board develops, issues, and maintains SASB standards. The Foundation Board oversees the strategy, finances, and operations of the entire organization, and appoints the members of the Standards Board.

The Foundation Board is not involved in setting standards but is responsible for overseeing the Standards Board’s compliance with the organization’s due process requirements. As set out in the SASB Rules of Procedure, SASB’s standard-setting activities are transparent and follow careful due process, including extensive consultation with companies, investors, and relevant experts.

For more information about governance, please read the SASB Rules of Procedure.

Funding SASB’s Mission

The SASB Foundation has studied the business models of other standard setters to determine best practices for funding standard-setting work while avoiding conflicts. In applying the lessons learned, we have instituted a governance model that separates standard setting from funding considerations. We have also developed a plan for growing annual revenues from diverse sources to ensure our longevity and independence.

SASB’s revenues come from three sources:

  • Membership & Earned Income – mission-aligned programs, including education, conferences, tools, and licensing
  • Market Support Contributions – annual contributions from market beneficiaries, such as the accounting firms and other market participants
  • Philanthropy– gifts from foundations and individuals

The SASB Foundation receives no government financing and is not affiliated with any governmental body, the FASB, the IASB, or any other financial accounting standard-setting body.

For more detail, please see our most recent Annual Report.