CharityWatch REPORT
Issued July 2017

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 Innocence Project audit of June 30, 2016 (Note 7), The Innocence Project received donated services valued at $15,207,897 in fiscal 2016, including $14,807,897 in professional fees.

[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 Innocence Project audit of June 30, 2016 (Note 5, Commitments and Contingencies):

"The Innocence Project entered into an agreement with Yeshiva University ('YU') in 2003 to take over the activities of a legal clinic known as 'The Innocence Project at the Benjamin N. Cardozo School of Law' and to continue to provide education and training for law students and further the activities of the Innocence Project. The term of the agreement is through June 30, 2017. The agreement provides that one-sixth, but not less than two of the Innocence Project's board will be selected by Cardozo's Dean in consultation with the Chairman of the Board of Directors of Cardozo and the President of YU and that a Cardozo board member will serve on the Innocence Project's executive committee and another board member on the Innocence Project's finance committee. Additionally, the Corporate by-laws of the Innocence Project cannot be amended as to change or diminish the percentage of seats Cardozo will hold on the Board of Directors or membership on the Executive or Finance Committees during the life of the Agreement without the prior approval of the Dean of Cardozo, President of YU, Cardozo Board of Directors and the Board of Trustees of YU. Further, the Board of Directors of the Innocence Project cannot be more than twenty-one members without the consent of Cardozo and the location of the Innocence Project's rental space and its suitability shall be subject to approval by the Dean of Cardozo. Student participation in the clinic for academic credit will only be provided to Cardozo students unless approved by the Dean of Cardozo. The agreement further provides that pursuant to an approved annual budget, YU will provide a certain amount of annual funding. YU will also provide the salary and fringe benefits for one of [the] founding law clinic professors for services he provides to the Innocence Project... YU assigned its federal trademark application for the 'Innocence Project' trademark and any rights it may have owned in the mark to the two founding law clinic professors, and received, in return, a non-exclusive royalty-free license to use the trademark in connection with educational programs sponsored by Cardozo. In August 2011 the law clinic professors transferred the trademark title to the Innocence Project."

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