CharityWatch REPORT
Issued May 2017

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 Asia Foundation audit of September 30, 2015 (Note 2, Books for Asia Inventory and Gifts-in-Kind Support):

"The Foundation recognizes gifts-in-kind consisting of books, software and related shipping services donated to the Foundation's Books for Asia program..." The Foundation reports receiving donated books valued at approximately $12,277,000; donated shipping services valued at approximately $165,000; and other donated goods and services valued at approximately $26,000 in fiscal 2015.

Also according to audit Note 2, "For the year ended September 30, 2015 approximately 70% of gifts-in-kind revenue was from one donor."

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found by clicking on "About CharityWatch" from the navigation bar and then clicking on "Criteria & Methodology".]
According to The Asia Foundation audit of September 30, 2015 (Note 11, Commitments and Contingencies) [$s in thousands, as noted]:

"Commitments due by the Foundation under grant agreements to subrecipients for services not yet provided totaled $20,482 [thousand] and $20,715 [thousand] as of September 30, 2015 and 2014, respectively."
According to The Asia Foundation audit of September 30, 2015 (Note 2, Concentration of Credit Risk):

"...For the years ended September 30, 2015 and 2014, revenue for awards from the U.S. Government and one nonfederal agency provided 68% and 66%, respectively, of the Foundation's support and revenue."

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