Nice Foundation is governed by its legally and democratically formed management committees. These are General Body, Governing Body and General Management. Details of the governing system of the organization are given below:
LA 21 member general committee is the supreme authority of Nice Foundation. The membership is permanent unless it is vacant constitutionally which is formally approved by the registration authority. The general body elects 07 members Governing Body for a 05 (five) year term.
In line with Bangladesh NGO practice, a 21-member general committee has overall responsibility for the Nice Foundation. Members include academics, social workers, other professionals and housewives. The general committee elects seven members as the executive committee for a five-year term. This meets quarterly and is accountable for monitoring performance, developing policy, leadership and budget management. Members also act as voluntary workers. There are currently 17 staffs working in different projects. Paul Thompson, Professor Middlesex University work with Nice Foundation as a volunteer for one year who got permission to stay 12 months with Nice Foundation (NGO Affairs Bureau Approval obtained under the project). Colin Wilby has been promoting Nice Foundation from UK as an International Adviser.
The Secretary is responsible for management and administration, implementation of programs as of yearly plan following Long Range Strategic Plan of Nice Foundation. The organization has formed its Management Team to ensure ownership, greater participation and dynamic partnership among its staff members in order to establish an effective and efficient management system, and foster transparency, accountability and decentralization of programs and its execution.
The organization has been emerged as a education and research development NGO in the southwest coastal region of Bangladesh. It has an organogram approved by the governing Body. The Secretary performs the duty as an honorary Chief executive of the organization. Two coordinators are performing the all programme activities who is reportable to the Secretary. The Chief Accountant maintains Account with the help of Accountant following the approved financial manual.
Nice Foundation has a standard accounts manual. The accounting system is based on accrual basis and on the system of double entry book keeping. It may be mentioned here that journal Voucher should be introduced to make the accounting system as ‘accrual’. According to the rules of double entry system, each entry is always entered in two different account i.e., every debit must have it s corresponding credit. The primary books of account like cash book, general ledgers etc. have to be maintained at all accounting affairs following the principles of double entry system.
The information on the above mentioned documents are recorded. Receipts/Payments Statements, (ii) Cash/Bank Books are regularly prepared by each and every unit of Nice Foundation, where financial activities take place.
As per relevant article of Nice Foundation constitution all fund/ money of Nice Foundation are deposited in the banks recognized by the Government of the People’s Republic of Bangladesh. The Secretary and the concerned jointly operate bank accounts of Nice Foundation. If need, more accounts can be opened and jointly be operated by the Secretary and any other officer / worker with the prior approval of the GB. Nice Foundation receives the donor fund though Sonali Bank, Daulatpur Branch, Khulna, SB A/C no. 34040144.
Nice Foundation has a transparent management system. To ensure the proper implementation and management of activities, organization should observe the quality and accuracy of it through a third eye. Auditing procedure of Nice Foundation works as the third eye of the organization. Both internal and external audit are conducted by the organization.
Internal audit is conducted by the internal audit team selected by Governing Body. Though internal audit team is guided by the Secretary it works independently. The government recognized audit farm conducts external Audit every year. Generally the organization appoint GoB recognized external audit farm for auditing of the organization. But in the case of auditing of project accounts, audit farms select by the donor.