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.
|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 Children's Cancer Fund of America (CCFOA) and three other "sham cancer charities and their operators with bilking more than $187 million from consumers." According to the news release, CCFOA has agreed to settle the charges against it and under the proposed settlement orders, CCFOA will be dissolved. Click on the "Donor Alerts & Articles / Media" Tab for a link to the full news release by the FTC.]|
|According to the Children's Cancer Fund of America tax filing for 2012, the Organization reports receiving in-kind goods valued at approximately $1.95 million, including donated drugs and medical supplies valued at $1.79 million (Form 990 Schedule M). The Organization reports that the $1.79 million in donated drugs and medical supplies were distributed to unidentified organizations in the regions of Central America and the Caribbean (Form 990 Schedule F).|
[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 Children's Cancer Fund of America audit of Dec. 31, 2012 (Note 6):|
"During 2010, the Organization entered into a note agreement as the lender with an officer [the CEO, Rose Perkins]. The original amount of the loan to the officer was $74,000. It is to be paid back to the Organization in monthly installments of $1,431, including interest at 8.00%. The balance of the note as of December 31, 2012 is $33,837."