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 DonorsChoose.org audit of June 30, 2015 (Note 12, Related Party Transaction):|
"The Chief Executive Officer of DonorsChoose.org has created RedPen, a Benefit Corporation. The purpose of RedPen is to create an online tool to help improve business writing. This free online tool is available at http://irregardless.org."
"RedPen is funded by proceeds earned by the Chief Executive Officer for public speaking engagements. The Chief Executive Officer has contributed to DonorsChoose.org a 20% equity interest in RedPen, which was deemed to have nominal value at the time of donation. Beginning in fiscal year 2014, RedPen began donating at least 30% of its revenue to DonorsChoose.org to fund classroom projects. During the years ended June 30, 2015 and 2014, RedPen donated to DonorsChoose.org $117,0754 and $91,528 respectively."
|According to the DonorsChoose.org audit of June 30, 2015 (Note 4(b), Concentrations):|
"For the years ended June 30, 2015 and 2014, approximately 11% and 12%, respectively, of total revenue was received from one donor."