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 Izaak Walton League of America (IWLA) audit of December 31, 2015 (Note 10, Legal Settlements):|
"IWLA's national headquarters, in conjunction with two of IWLA's divisions and three of IWLA's chapters as plaintiffs, were parties to a legal settlement with an electric utility company... which was amended on October 11, 1983. The settlement is the result of a suit brought by the above parties regarding the environmental protection of the Mississippi River. As a result of the settlement, the plaintiffs were to receive the sum of $350,000 each year through 2012. In August 2011, IWLA and the defendants entered into an agreement to continue the cooperative relationship for another six years effective January 1, 2013. Under the new agreement, IWLA will receive $180,000 each year through 2018. The receipts are applied to an environmental fund that was created and administered by IWLA. The primary purpose of the fund is to develop and administer environmental programs...
"In addition, IWLA's national headquarters, in conjunction with one of IWLA's divisions, were parties to a legal settlement dated February 27, 2013. The settlement is the result of a suit regarding the rightful ownership of four parcels of property located in Sandycreek Township, Venango County, Pennsylvania, and the rightful ownership of all other assets that were formerly owned by the Franklin Chapter of IWLA. As a result of the settlement, IWLA received the sum of $175,000 during the year ended December 31, 2013. In addition, the defendant assigned 25% of its royalty payments on four existing shallow natural gas wells to IWLA for a period of 10 years from the effective date of the assignment and 33 1/3% of its royalty interest in any natural gas well drilled into the Utica or Marcellus Shale formations for a period of 10 production years per well. During 2015, IWLA received $1,564 of royalty fees..."
|According to the Izaak Walton League of America (IWLA) audit of December 31, 2015 (Note 11, Conditional Promises to Give):|
"...IWLA has an agreement from a legal settlement [see Note 10 cited above] which includes the receipt of an annual contribution of $180,000 through 2018. Payments are subject to the continued cooperation between IWLA and the donor to protect the natural resources of the Mississippi River with respect to the operation of the Quad Cities Nuclear Power Station. Consequently, this contribution is recorded as support as those conditions are met on an annual basis. During the year ended December 31, 2015, IWLA recognized $180,000 of revenue upon satisfaction of the condition..."