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.
|CharityWatch's rating of Hadassah includes the financial activities of the organizations included in its Consolidated Audit of December 31, 2014. Hadassah's official name is, "Hadassah, The Women's Zionist Organization of America [HWZOA]."|
Related organizations included in HWZOA's consolidated audit are:
Hadassah Medical Relief Association (HMRA)
Hadassah International, Ltd (a Bermuda Corporation) (HIL)
The Hadassah Foundation
The Hadassah Office in Israel (an Israeli not-for-profit entity)
Fabulous Finds LLC (Fabulous Finds) (a for-profit entity)
Hadassah Medical Organization (HMO)
According to Audit Note 1:
"Fabulous Finds, founded in 2006, is owned by HWZOA, and was created for the purpose of selling donated items on eBay."
"...HMO is a public benefit company [which]...operates only for public purposes, its income and property are applied solely toward the objects of the public benefit company, and it is prohibited from making the distribution of profits or any other distributions to its members...HMO owns and controls four wholly owned subsidiaries: Hadasit Medical Research and Development Company, Ltd, S.R.Y (Medical Services) Ltd., Hadassah Medical Ltd. and the Research Fund of the Hadassah Medical Organization Amuta (R.A.)"
"HIL is a Bermuda exempted company limited by guaranty incorporated in August 1995, which coordinates Hadassah's international units whose purposes are to raise funds for HMO and develop exchange programs between HMO and medical institutions around the world..."
"In Israel, in addition to supporting activities at HMO, Hadassah supports a variety of projects conducted by unconsolidated affiliated entities. Hadassah Academic College provides academic degree programs. Hadassah-supported Youth Aliyah (Youth at Risk) villages provide housing, education, and support to disadvantaged Israeli and immigrant youth..."
"On July 1, 2012, HWZOA transferred the programs and activities (except for the endowment funds and earnings accumulated but not yet appropriated) for Jewish youth known as "Young Judaea," Hadassah's Zionist youth movement, which include, without limitation, Young Judaea activities and programs in the United States and Israel, Young Judaea Sprout Lake Camp, Inc., Young Judaea Inc. (d/b/a/ Camp Tel Yehudah), Hadassah Youth Services Amuta, and Hadassah WUJS Arad, Ltd. (collectively, the Young Judaea Programs) to Young Judaea Global, Inc. (YJG), an independent and separate not-for-profit corporation."
Whenever practicable, CharityWatch obtains consolidated or combined audited financial statements that include all of the entities of a charity. Such an audit eliminates related party transactions among related groups, and allows us to determine how efficiently an organization is operating on the whole.
For more information on this topic, please see our section on Treatment of Related Organizations, which can be found on the Criteria & Methodology tab under the "About Us" navigation header.