Provident Resources Group is committed to meeting the highest standards of integrity, ethical behavior and appropriate mission-driven conduct in everything we do. By maintaining a culture of accountability, integrity and transparency, Provident offers the highest level of commitment to the charitable missions we serve. We conduct our mission-focused business activities around a core of financial integrity and operational control, never sacrificing our integrity or commitment to excellence in carrying out our charitable missions.
Provident recognizes the importance of and places high priority upon having strong corporate governance measures in place. We take great care to ensure that our measures align with the requirements of the Internal Revenue Code and the regulations promulgated thereunder, and the other state and federal laws that regulate corporate governance and the nonprofit sector.
However, Provident measures success in corporate governance practices not by meeting minimum requirements, but by benchmarking our practices against the stringent corporate governance requirements imposed on publicly traded companies under various securities laws, including the Sarbanes-Oxley Act. Accordingly, our Board of Directors is comprised predominately of independent directors, and our Board maintains a standing Audit Committee and Compensation Committee, each composed entirely of independent directors having the appropriate delegated authority and skills to carry out the committee's charter and functions.
We continually evaluate our corporate governance practices to ensure that our practices reflect the demands of our organization and current best practices applicable to the nonprofit world. At Provident, we view good corporate governance as an absolute necessity to successfully pursue our charitable missions in the manner we strive and our constituencies deserve in the communities we seek to build and serve.