A statement that formally expresses why an organization exists, it's purpose and it's functions is called a what statement?

The statement that formally expresses why an organization exists, its purpose, and its functions is called a mission statement.

A statement that formally expresses why an organization exists, its purpose, and its functions is called a mission statement.

The statement you are referring to is commonly known as a "mission statement." It succinctly describes the reason for an organization's existence, its overall purpose, and its primary functions. The mission statement serves as a guiding principle for the organization's activities, providing a clear direction and a sense of purpose for its members and stakeholders. It typically outlines the organization's core values, goals, and the audience it seeks to serve. To find the mission statement of a specific organization, you can explore its official website, search for its annual reports, or look for official documents such as strategic plans or guiding principles.