The Ratings Game
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The Empirical Link Between Internal Audit, Contract Income and ‘Passthrough’ Efficiency in the Top 500 UK Charities
14th European Academic Conference on Internal Audit and Corporate Governance Erasmus School of Accounting & Assurance, Erasmus University Rotterdam, The Netherlands, 6th April - 8th April 2016 The Empirical Link Between Internal Audit, Contract Income and ‘Passthrough’ Efficiency in the Top 500 UK Charities Angela Toothill MSc CMIIA ACMA Cert ITM Senior Lecturer in Accounting & Finance Nottingham Business School Nottingham Trent University Burton St, Nottingham NG1 4BU United Kingdom E-mail : [email protected] The Empirical Link Between Internal Audit, Contract Income and ‘Passthrough’ Efficiency in the Top 500 UK Charities Abstract This conference paper discusses some of the findings from the author’s PhD thesis which considers the ‘marketisation’ of UK charities (Bruce & Chew, 2011) and subsequent governance evolution within the sector. It is argued that the considerable flow of public funds into the sector has resulted in charities altering their behaviour through having to focus on priorities identified by government and operate in ways in which they prescribe. Also, extensive performance information is also supplied to government under contractual terms and conditions (Hyndman & Jones, 2011). This study analyses financial statement data taken from a full set of the Charity Commission England & Wales database for years 2011 to 2013. The total income analysed represents the significant majority of the UK Charity Sector at approximately £50 billion per annum. The analysis covers £151 billion in total represented by 27,428 sets of financial results, across three reporting years and sixteen charity classifications. Sizes of organisations range significantly from one case that declared zero income right up to the largest charity with an income of £950 million. -
FY2019 990.Pdf
Form 990 (2018) CHARITY NAVIGATOR 13-4148824 Page 2 Part III Statement of Program Service Accomplishments Check if Schedule O contains a response or note to any line in this Part III X 1 Briefly describe the organization's mission: CHARITY NAVIGATOR AIMS TO MAKE IMPACTFUL PHILANTHROPY EASIER FOR ALL BY PROVIDING ACCESSIBLE INFORMATION, RATINGS, AND TOOLS FOR DONORS, AND BY PRESENTING CHARITIES WITH INFORMATION THAT HELPS THEM OPERATE MORE EFFECTIVELY. CHARITY NAVIGATOR ALLOWS DONORS TO FEEL CONFIDENT IN 2 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Yes X No If "Yes," describe these new services on Schedule O. 3 Did the organization cease conducting, or make significant changes in how it conducts, any program services?~~~~~~ Yes X No If "Yes," describe these changes on Schedule O. 4 Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported. 4a (Code: ) (Expenses $ 2,938,506. including grants of $ ) (Revenue $ ) CHARITY RATINGS - CHARITY NAVIGATOR AIMS TO MAKE IMPACTFUL PHILANTHROPY EASIER FOR ALL BY PROVIDING OBJECTIVE AND INDEPENDENT RATINGS AND INFORMATION TO DONORS.OUR RESOURCES EMPOWER PHILANTHROPISTS TO FEEL CONFIDENT IN THEIR DECISION-MAKING TOWARD GIVING. ADDITIONALLY, WE EQUIP CHARITIES WITH INFORMATION THAT HELPS THEM OPERATE MORE EFFICIENTLY AND EFFECTIVELY. CHARITY NAVIGATOR COLLABORATES WITH OTHER NONPROFIT MANAGEMENT EXPERTS TO EXPAND THE BREADTH, DEPTH, AND REACH OF OUR RATINGS AND INFORMATION. -
Survey of Needs and Provision Services for Homeless Single People and Couples in England
Survey of Needs and Provision Services for Homeless Single People and Couples in England CONTENTS 1. INTRODUCTION ....................................................................................................................... 5 2. SUMMARY OF FINDINGS ......................................................................................................... 5 2.1 Day centres ......................................................................................................................... 5 2.2 Accommodation services................................................................................................... 5 2.3 Clients ................................................................................................................................. 6 2.4 Support services ................................................................................................................ 6 3. BACKGROUND......................................................................................................................... 7 3.1 Current sources of data about services ............................................................................ 7 3.1.1 Supporting People national directory of services and client data ..................................... 7 3.1.2 Homeless UK ................................................................................................................. 8 4. SCOPE OF RESEARCH ............................................................................................................ 8 5. METHODOLOGY -
Social Investment —
PIONEERS POST SPECIAL GUIDE GUIDE TO SOCIAL INVESTMENT GUIDE TO — SOCIAL INVESTMENT 1 | PPQ CONTENTS THE PIONEERS POST SPECIAL GUIDE TO SOCIAL INVESTMENT INTRODUCTION ⁄ 3 SOCIAL INVESTMENT AND GRANT-MAKING SYNERGIES ⁄ 12 Presenting our thought-provoking features and A-Z guide Philippa Charles’s perspective as a social investor and grant maker FOREWORD ⁄ 4 Mark Parsons welcomes you to the Heath Robinson-esque A NEW OPPORTUNITY FOR EVERYDAY world of social finance INVESTORS ⁄ 13 Why Triodos is into crowdfunding, by Bevis Watts THE SOCIAL INVESTMENT JOURNEY ⁄ 5 Nick Temple has some reasons to be cheerful PROFESSIONAL WOMEN WANT TO INVEST POSITIVELY ⁄ 14 WHY WE MUST EMBED THE SOCIAL IN Jessica Robinson looks at financial feminism SOCIAL INVESTMENT ⁄ 6 The social investment scales are weighted too heavily towards A GUIDE THROUGH SOCIAL INVESTMENT ⁄ 15 the elite, says Niamh Goggin Kieran Whiteside introduces Good Finance DEBUNKING THE MARKET RATES OF RETURN MYTH ⁄ 8 HAS SPRING ARRIVED FOR GENDER Abhilash Mudaliar looks back at 10 years of impact investment EQUALITY IN SOCIAL INVESTMENT? ⁄ 17 Jessica Brown points out that social investment needs to look at INSPIRING SCOTLAND: 10 YEARS ON ⁄ 9 how it represents women An insight into a decade of work in venture philanthropy, by Celia Tennant A SOCIAL FINANCE APPLICATION CHECKLIST ⁄ 19 THE EMOTIONAL HEDGE: THREE LESSONS Your social lender is on your side, explains Mark Parsons FOR INVESTORS ⁄ 11 We invest for different types of return, explains James Lawson THE SOCIAL INVESTMENT A-Z ⁄ 22 The Pioneers -
Annual Report Adroddiad Blynyddol
2009/10 Annual report Adroddiad blynyddol Supporting charities, volunteers and communities Yn cefnogi elusennau, gwirfoddolwyr a chymunedau www.wcva.org.uk Wales Council for Voluntary Action’s Cenhadaeth Cyngor Gweithredu mission is to make Wales a better Gwirfoddol Cymru yw gwneud place by championing volunteering, Cymru’n lle gwell drwy hyrwyddo voluntary organisations, and gwirfoddoli, mudiadau gwirfoddol a community groups. grwpiau cymunedol. In so doing, it will help build a civil society in Drwy wneud hynny, bydd yn cynorthwyo Wales that: i adeiladu cymdeithas sifil yng Nghymru a fydd: zz Is inclusive and offers equality of opportunity. zz Yn gynhwysol ac yn cynnig cyfle cyfartal. zz Strengthens voluntary and community zz Yn cryfhau gweithredu gwirfoddol a action at the heart of civil society in chymunedol sydd wrth galon cymdeithas Wales, that: sifil yng Nghymru, sydd: –zempowers people to participate and –zyn grymuso pobl i gyfranogi ac yn fosters community leadership meithrin arweiniad cymunedol –zencourages and promotes the –zyn annog ac yn hybu annibyniaeth independence of voluntary action gweithredu gwirfoddol –zcelebrates and reflects linguistic and –zyn dathlu ac yn adlewyrchu amrywiaeth cultural diversity and choice a dewis ieithyddol a diwylliannol –zengages in genuine partnership with –zyn ymrwymo i wir bartneriaeth gyda other sectors on a ‘who does what sectorau eraill ar sail ‘pwy sy’n gwneud best’ basis. beth orau’. WCVA Head Office North Wales Office Mid Wales Office WCVA Prif Swyddfa Swyddfa Gogledd Swyddfa’r Baltic -
Can a Park Have Too Much Money? a Watchdog Group Says Friends of the Public Garden Is Hoarding Donations, but the Charity Says It's Being Safe
THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING CONSUMER BEAT Can a park have too much money? A watchdog group says Friends of the Public Garden is hoarding donations, but the charity says it's being safe By Bruce Mohl, Globe Staff | August 13, 2006 Just as the Friends of the Public Garden is about to broaden its campaign to raise $6.5 million for the preservation of Boston Common, the Public Garden, and the Commonwealth Avenue mall, a watchdog group is saying the charity already has more money than it needs. Charity Navigator, a New Jersey nonprofit that analyzes the financial underpinnings of charities, says the Friends of the Public Garden is hoarding donors' money. The watchdog group says charities should build endowments and save for tough times, but the Friends of the Public Garden has enough working capital, essentially cash on hand, to stay in business close to 15 years, even if it doesn't raise another penny. The group recommends that charities have at least six months to a year of working capital. Tax filings of the Friends of the Public Garden indicate its revenue more than doubled to $1.9 million between 2001 and 2004, the latest year available, while spending on programs plunged 40 percent to $215,000. As of Aug. 31, 2004, the Friends of the Public Garden had $6.8 million in net assets, up 59 percent from 2002. ``They're raising more and more and spending less and less," said Trent Stamp , executive director of Charity Navigator. ``It's something donors should know about." Henry Lee , the president and guiding spirit of the Friends of the Public Garden for the last 36 years, makes no apologies for the charity's conservative financial philosophy. -
Bridge House Estates
ANNEX 1 Bridge House Estates The Trustee’s Annual Report and Financial Statements for the year ended 31 March 2012 Charity number 1035628 BRIDGE HOUSE ESTATES TRUSTEE’S ANNUAL REPORT AND FINANCIAL STATEMENTS Contents Trustee’s Annual Report Reference and Administrative Details 2 Structure, Governance and Management 2 Objectives and Activities 5 Aims, Achievements, Performance and Future Plans 8 Financial Review 24 Explanation of the Financial Statements 26 Responsibilities of the Trustee 26 Adoption of the Annual Report and Financial Statements 28 Independent Auditor’s Report 29 Report of the Audit Review Panel 31 Statement of Financial Activities 32 Balance Sheet 33 Cash Flow Statement 34 Notes to the Financial Statements 35 List of Grants approved 51 Membership of Committees 63 1 BRIDGE HOUSE ESTATES TRUSTEE’S ANNUAL REPORT AND FINANCIAL STATEMENTS 1. Reference and Administrative Details Bridge House Estates is a Trust governed by various instruments which are mentioned below. In April 1994 it was registered with the Charity Commission. Charity Name Bridge House Estates Other Working Names Bridge House Estates Trust Fund Bridge House Trust Bridge House Grants The City Bridge Trust Charity Number 1035628 Registered Address Guildhall, London, EC2P 2EJ Trustee The Mayor and Commonalty & Citizens of the City of London Chief Executive Christopher Duffield - The Town Clerk of the City of London Corporation Treasurer Chris Bilsland - The Chamberlain of London Solicitor Andrew Colvin - The Comptroller and City Solicitor Bank Lloyds TSB Bank plc Discretionary Fund Managers GMO (U.K.) Ltd, Pryford International Plc, Ruffer LLP, Southeastern Asset Management Inc. Chartered Accountants and Deloitte LLP, Chartered Accountants and Statutory Auditors, Statutory Auditors 3 Victoria Square, Victoria Street, St Albans, AL1 3TF 2. -
2009 CEO Compensation Study
CHARITY NAVIGATOR 2009 CEO Compensation Study August 2009 2009 CEO Compensation Study PAGE 1 Introduction Charity Navigator has completed its fifth annual CEO Compensation Study. This year’s study exam- ined the compensation practices at 5,4481 mid to large sized U.S. based charities that depend on sup- port from the public. Our analysis revealed that the top leaders of these charities earn an average salary of $158,0752 representing a pay raise of 6.1% over the previous year studied. We know from the conversations taking place in the comment section of our charity ratings pages that many donors will be appalled by this figure. They believe that charity leaders should all but work for free. But these well-meaning donors fail to consider that these CEOs are running multi-million dollar operations that endeavor to change the world. Leading one of these charities requires an individual that possesses an understanding of the issues that are unique to the charity’s mission as well as business and management expertise similar to that required of for-profit CEOs. Attracting and retaining that type of talent requires a certain level of compensation. While there are nonprofit salaries that we would all agree are out-of-line, it is important for donors to come to terms with charity executives earning a fair wage – which is roughly $160,000 according to our research. This report offers insight into how a charity’s mission, size, and location impact its CEO’s salary. It also highlights some questionable salaries, such as those that approach and exceed a million dollars, and sus- pect compensation policies, such as charities that have multiple highly-paid family members on staff. -
Chapter 3 - Results
ASSESSING PERFORMANCE OF ANIMAL WELFARE ORGANIZATIONS TO IMPROVE PHILANTHROPIC DECISION-MAKING by Leanne Katherine McConnachie B.A., The University of Victoria, 1988 A thesis submitted in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE in THE FACULTY OF GRADUATE STUDIES (Animal Science) The University of British Columbia April 2007 © Leanne Katherine McConnachie, 2007 Abstract In 2005-06, 24 Canadian and American animal welfare organizations (AWOs) and foundations participated in an in-depth qualitative study to establish which performance criteria best determine the effectiveness of AWOs. Participants’ comments resulted in the development of a framework that offers individual donors and foundations a consistent approach to evaluating organizational performance. Termed the PREP Framework, this approach categorizes performance into four key pillars, each with its own components and criteria: 1. Philosophy - the organization’s beliefs and values, as reflected in its mandate, position statements, policies and practices; 2. Red Flags - indicators of problems in the organization, such as excessive personnel turnover, disproportionate management salaries, high administration and fundraising costs, lack of peer collaboration, poor financial statements; 3. Efficiencies - financial and operational conduct of the organization, including long term strategic planning, financial credibility and sustainability; and 4. People - abilities of those involved with the organization, including management, volunteers, peers, donors and board members. The study also explored the pros and cons of standardizing performance evaluation and found that many participants felt the sector would benefit from the use of more quantitative and qualitative benchmarks and standards to establish sector norms and trends. In addition, the research examined the sector’s familiarity with outcome measurement and found most participants struggled to clearly define outcomes for the sector. -
Examining Donor Preference for Charity Religious Affiliation
Examining Donor Preference for Charity Religious Affiliation Jonathan Oxley∗ Date Last Modified: 10/22/2020 Abstract In the United States, most charitable donations go to religiously affiliated organizations, yet the impact of a charity’s affiliation on donor behavior is currently unclear. To better understand this impact, I use a laboratory experiment to explore how a charity’s religious affiliation drives donor behavior. In doing so, I contribute to the understanding of how charity affiliations impact donor decisions. In the experiment, subjects select one charity from a list of eight, with each charity varying in religious affiliation. Masked and unmasked sessions differ in the inclusion of religious affiliation from half the charities, with masked sessions omitting religious affiliation of the charities. I find that adding religious language decreases donation frequency for Christian charities competing against other religious charities. Furthermore, adding religious language increases the average donation size for secular charities competing against Christian charities, but decreases average donations for Christian charities competing against other religious charities. Subjects prefer charity religious affiliation to match their own religious identity; however, subject strength of religiosity is more predictive in charity choice than religious affiliation. Keywords: Religious Affiliation, Charitable Giving, Laboratory Experiment JEL Classification: C91, D20, L30, Z12 ∗Department of Economics, Florida State University. E-mail: [email protected] Acknowledgements: I would like to thank David Cooper for sharing his experimental software. Additionally, I extend my deepest gratitude to the Quinn Graduate Student Fellowship and the Institute for Humane Studies for helping fund this project and making the paper possible. Finally, I would like to thank R. -
Strengthen Your Not-For-Profit by Boosting Your Charity Navigator Score
Strengthen Your Not-For-Profit by Boosting Your Charity Navigator Score By Dyan Reinhold, CPA Donors are the lifeblood of (most) not-for-profit organizations, and asking them to support your charity demands you deliver a solid return on their investments. Demonstrating that you are a wise steward of the donations to your organization can give you an advantage over other charities that are unable to do so, who are likely to lose donors and face drastic cuts in their services as a result. So, how can you prove your exceptional stewardship? That’s where Charity Navigator comes in. Charity Navigator is one of the most influential ratings services for not-for-profits. Organizations with favorable ratings on Charity Navigator are attractive to donors, and often command the highest level of funding. Launched in 2002 to help donors make informed giving decisions and allowing well-run charities to demonstrate their commitment to proper oversight of donor dollars, Charity Navigator evaluates more than 5,400 charities in the United States (with the aim of 10,000), as well as hundreds of organizations with international operations. Charity Navigator uses financial data provided in the Charity’s information tax return (IRS Form 990) to identify organizations that are fiscally sound, as well as those that are less effective. On its website, Charity Navigator also publishes donation tips, Top-10/Bottom-10 lists of efficient and inefficient organizations, and results of a national annual study that analyzes any statistical differences that may exist in the financial practices of charities located in different metropolitan markets across America. -
Executive Compensation in the Charitable Sector: Beyond the Tax Cuts and Jobs Act
ROGAL.DOCX (DO NOT DELETE) 11/18/2019 4:54 PM Executive Compensation in the Charitable Sector: Beyond the Tax Cuts and Jobs Act Lauren Rogal* This Article examines charity executive compensation in light of the reforms enacted by the Tax Cuts and Jobs Act of 2017. Charities receive preferential tax treatment under Section 501(c)(3) of the Internal Revenue Code because they provide humanitarian, educational, and other services that benefit the public. The payment of excessive compensation undermines the policy purpose of charitable tax status by diverting resources from the public good to private gain. The costs are borne by the intended charitable beneficiaries, the subsidizing taxpayers, and the charitable sector as a whole, which requires public confidence to sustain its work. The Tax Cuts and Jobs Act reformed charity compensation laws for the first time in decades, imposing an excise tax on compensation over $1 million. With its enactment, there are now three legal constraints on charity compensation that together provide piecemeal accountability. This Article deconstructs the three mechanisms, assessing their enforceability and metrics for appropriate compensation. It argues that the excise tax is the mechanism best tailored to the goals of Section 501(c)(3), but that it is impaired by a blunt and arbitrary metric. This Article then explores alternative metrics that may better align with the policy objectives of 501(c)(3) status and proposes avenues for further investigation. * Assistant Clinical Professor of Law and Director of the Turner Family Community Enterprise Clinic at Vanderbilt University Law School. Thank you to Alicia Plerhoples, David Super, Margaret Blair, Priya Baskaran, and Joseph Pileri for their insights 449 ROGAL (DO NOT DELETE) 11/18/2019 4:54 PM 450 SETON HALL LAW REVIEW [Vol.