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 International Medical Corps (IMC) tax filing for the fiscal year ended June 30, 2017, IMC reports receiving donated in-kind goods in fiscal 2017 on which it placed a value of approximately $3.4 million (IRS Form 990, Schedule M).|
IMC also reports receiving donated medical services in fiscal 2017 on which it placed a value of $156,986 (IMC audited Statement of Activities for the year ended June 30, 2017).
[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 International Medical Corps (IMC) audit of June 30, 2017 (Note 6, Related-Party Transactions):|
"On November 1, 2002, the Organization entered into an Administrative Services Agreement with International Medical Corps UK, a registered charity in England and Wales, to assist International Medical Corps UK (IMC UK) in the achievement of its charitable objectives... The related-party transactions mainly pertain to service fees...cash advances, and other related charges. At June 30, 2017, the Organization had a payable balance to International Medical Corps UK of $1,759,056...
"Amounts contributed to IMC UK during 2017 and 2016 totaled $350,000 and $77,102, respectively."
According to the International Medical Corps (IMC) tax filing for the fiscal year-ended June 30, 2017, IMC reports for Business Transactions Involving Interested Persons, a transaction in the amount of $85,198 described as "compensation" paid to Josephine Garnem, with a "family member" relationship to IMC (IRS Form 990, Schedule L, Part IV).
|According to the International Medical Corps audit of June 30, 2017 (Note 9, Concentrations of Risk):|
"Grants and contracts totaling $84,514,319 and $21,610,572 were received from the U.S. Agency for International Development and the U.S. Department of State, respectively, for the year ended June 30, 2017, which represents 65% and 17%, respectively, of total public support and revenue. ... Should these contribution levels decrease, the Organization may be adversely affected."