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Cancer Fund of America (DISSOLVED)

CharityWatch report issued
May 2015

F
CharityWatch Grade
Our independent grade based
on a number of factors.
 
13%
Program Percentage
Amount spent on programs
relative to overhead.
 
$80
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Cancer Fund of America (DISSOLVED)
2901 Breezewood Lane
Knoxville, TN 37921

Other Names

Breast Cancer Financial Assistance Fund
Cancer Support Services

Tax Status

501(c)3

Website

www.cfoa.org

Stated Mission

To provide direct financial aid in the form of products & other support & services to financially indigent cancer patients & their families; to provide products to hospices, other health care providers, & various non-profit community services organizations within and outside the U.S. which aid the ill, needy, & infants; and to disseminate information concerning the early detection & prevention of cancer.

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Data based on Fiscal Year Ended 12/31/2013

Program Percentage: 13%

The percentage of Cancer Fund of America (DISSOLVED)'s cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$11,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $80

How many dollars Cancer Fund of America (DISSOLVED) spends on fundraising to raise each $100 of contributions.

$10,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Cancer Fund of America IRS Form 990 58-1766061
Cancer Fund of America & Affiliate Audited Consolidated Financial Statements Multiple
Cancer Support Services IRS Form 990 42-1568866
Cancer Support Services Audited Financial Statements 42-1568866
Entity: Cancer Fund of America
Document Type: IRS Form 990
Tax ID: 58-1766061
Entity: Cancer Fund of America & Affiliate
Document Type: Audited Consolidated Financial Statements
Tax ID: Multiple
Entity: Cancer Support Services
Document Type: IRS Form 990
Tax ID: 42-1568866
Entity: Cancer Support Services
Document Type: Audited Financial Statements
Tax ID: 42-1568866

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
Cancer Fund of America (DISSOLVED)
does not meet governance benchmarks.
 
Cancer Fund of America (DISSOLVED)
does not meet transparency benchmarks.

CharityWatch Governance Concerns

See Analysts' Notes for Explanation
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 James Reynolds, Sr. President/CEO $247,995
2 Joshua B. Loveless Vice President $138,979
3 Kyle Effler CFO $138,934
1
Name: James Reynolds, Sr.
Title: President/CEO
Compensation: $247,995
2
Name: Joshua B. Loveless
Title: Vice President
Compensation: $138,979
3
Name: Kyle Effler
Title: CFO
Compensation: $138,934

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.
Cancer Fund of America (CFA) and its affiliate, Cancer Support Services (CSS), will be permanently dissolved under the orders of an agreement settling claims related to the May 2015 action that alleged CFA, CSS, and two other "sham cancer charities" bilked donors out of more than $187 million, according to an FTC release issued March 30, 2016.

Click on the "Articles & Alerts" Tab for a link to the full news release by the FTC and more information.
According to the Cancer Fund of America & Affiliate consolidated audit of December 31, 2013 (Note 7):

"The Organization has been asked by regulatory agencies to provide information and it has done so. No claims have been made as of the date on which the financial statements were issued [August 4, 2014]. The outcome of this matter is not currently determinable."

[Note: On May 19, 2015, the FTC and 58 law enforcement partners from every state and the District of Columbia announced that they have charged the Cancer Fund of America, Cancer Support Services, and two other "sham cancer charities and their operators with bilking more than $187 million from consumers." Click on the "Articles & Alerts" Tab for a link to the full news release by the FTC.]
According to the Cancer Fund of America & Affiliate consolidated audit of December 31, 2013 (Note 8), the Organization recorded $1,489,922 in contributions for gifts in-kind received during the year ended December 31, 2013. The 2013 tax filing for Cancer Fund of America reports that all of the gifts in-kind received consist of personal care items (IRS Form 990 Schedule M).

[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 on the Our Process page.]
According to the Cancer Fund of America & Affiliate consolidated audit of December 31, 2013 (Note 6):

"During 2010, the Organization entered into a note agreement as the lender with an officer. The original amount of the loan to the officer was $90,000. The officer subsequently made a lump sum payment of $51,400 ... It is to be paid back to the Organization in monthly installments of $746 including interest at 6.00%. The balance of the note as of December 31, 2013 is $20,475."

"The officer's intent was to borrow money from the life insurance policy referenced in Note 3 [of the audit]. Because the Organization is the owner and beneficiary of the policy, the loan had to be made to the Organization. The Organization then entered into the note with the officer described in the previous paragraph."

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