In 1996, the Minnesota Council on Foundations became the first regional PSO to adopt a set of principles for foundations and corporate giving programs. By naming our commitments, we promoted accountability from one another and the broader community. In 2021, MCF engaged its members, nonprofit stakeholders and board to update the standards. Together, MCF's community created a new set of principles that place equity, power sharing and community engagement at its core. At the same time, the new principles are built on a developmental framework - with tiered entry points to each principle. Together, MCF members commit to accepting these principles as a common baseline from which we will undertake individual, organizational and collective growth. As a requirement of MCF membership, foundations affirm that they will apply these principles. Join this session to discuss reasons for committing to shared principles, to consider how community context shapes our values, and to learn how this process could be replicated in PSOs across the nation.