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 Entertainment Industry Foundation consolidated audit of December 31, 2016 (Note 8, Contributed Goods and Services):|
"The Foundation conducts Public Awareness and Education campaigns that provide information and education regarding the various initiatives adopted by the Foundation. Information and education are primarily provided by public service announcements ('PSAs'). The PSAs are disseminated in the form of broadcast, print, online and out-of-home advertisements. These products are donated by major television networks and magazine publications."
The Foundation reports receiving donated PSAs in 2016 on which it placed a total value of $251,989,750, with $202,778,429 consisting of broadcast airtime.
The Foundation also reports receiving "donated airline travel" in 2016 on which it placed a value of $522,512.
[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 Entertainment Industry Foundation 2016 tax filing re: Compensation Information (IRS Form 990, Schedule J, Part III):|
"Susan Frank received a severance of $10,000 in the 2016 calendar year..." [Susan Frank is reported as "Advisor to COO," with $291,289 in total compensation, including the severance, paid in 2016 (Schedule J, Part II).]
"Additionally, certain individuals [reported as officers, directors, trustees, key employees, and highest compensated employees]...have a severance arrangement as part of their employment agreement which provides for a severance payment under certain circumstances."
"Bonuses are based on a fixed percentage of the employee's annual salary and are awarded based upon the employee meeting a variety of performance metrics. Any deviations are determined by the CEO, COO, and CFO. The only exception is the CEO's bonus, which is determined by the Board of Directors."
|According to the Entertainment Industry Foundation consolidated audit of December 31, 2016 (Note 2, Subsequent Events):|
"The following new major donor agreements were executed subsequent to December 31, 2016:
* On January 1, 2017, a $500,000 second amendment agreement with a major foundation became effective to continue the Hunger Is program for 2017.
* On February 1, 2017, an additional $3.7 million donor agreement with a major pharmaceutical company was executed.
* On March 5, 2017, a $15 million collaboration agreement was executed with a major foundation to support education.
* On March 22, 2017, a $5.7 million agreement was exucuted [sic] with a law firm to sublease our Los Angeles office commencing on October 1, 2017.
* On May 1, 2017, an additional $3 million donor agreement with a major foundation was executed.
* On May 25, 2017, a $1 million donor agreement with a donor was executed to establish a scholarship award."