CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.
Any time an Analysts' Note refers to a charity's Audited Financial Statements or IRS tax form, CharityWatch encourages interested donors to obtain a copy of the referenced documents so that they may view the information in context. Please contact the charity directly to request a copy of any referenced document. Charity tax forms and audits may also be obtained from a number of online databases. For a list of sources, please visit our LINKS page.
|According to the American Brain Tumor Association (ABTA) audit of June 30, 2016 (Note K.3., Litigation):|
"The ABTA received a $247,517 bequest from a Trust, which was recorded in cash and revenues for the year ended June 30, 2014. Subsequent to receiving the cash, lawsuits were filed against the ABTA, nine other non-profit organizations which were beneficiaries of the Trust, the trustees of the Trust, and two Banks. The lawsuits seek to recover damages from the Trust and those entities, including the ABTA, which received bequests from the Trust. At this time, management and legal counsel are unable to provide an evaluation of the likelihood of an unfavorable outcome or the potential range of loss."