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 Jewish Committee & Affiliates (AJC) consolidated audit of December 31, 2014 (Note 1, Nature of Organizations Comprising AJC):|
"Thanks to Scandinavia, Inc. (TTS) is a not-for-profit organization exempt from federal income tax under Section 501(c)(3) of the Code and is not a private foundation. TTS awards scholarships to Scandinavian students in gratitude for the rescue of persons of Jewish faith from the Holocaust. In 2014, American Jewish Committee notified TTS that the agreement between American Jewish Committee and TTS would terminate with a final effective date of December 31, 2014 and, as a result of the termination, American Jewish Committee no longer exercises control of TTS."
According to the AJC consolidated audit of December 31, 2014 (Note 2(a), Principles of Consolidation):
"... [C]onsolidated financial statements of AJC include the financial position and changes in net assets of American Jewish Committee, IHR [Institute of Human Relations, a fundraising organization that remits all its revenues to American Jewish Committee], AJC Berlin [a German not-for-profit] and TAI [Transatlantic Institute, a Belgium not-for-profit]... In 2014, TTS [Thanks to Scandinavia] ceased to be consolidated with American Jewish Committee as the criteria for consolidation at December 31, 2014 is not met..."
[Note: Since TTS is not consolidated with American Jewish Committee for its December 31, 2014 audited financial statements, the activities of TTS are no longer included in CharityWatch's rating of American Jewish Committee. The activities of IHR, AJC Berlin and TAI are included.]