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 Meals on Wheels America audit of December 31, 2014 (Note 7, Employment agreement):|
"During 2013, the Organization entered into an employment contract with the Executive Director... Under the terms of the contract, should the Organization terminate the Executive Director's employment without cause, the Organization would be obligated to make a separation payment equal to the base salary for twelve months and certain benefits for six months at the time of termination."
|According to the Meals on Wheels America audit of December 31, 2014 (Note 8, Concentration of revenue risk):|
"During the years ended December 31, 2014 and 2013, the Organization received $2,648,402 and $1,429,761 from three grantors, respectively, which is approximately 44% and 29%, respectively, of its total revenue and support. Any significant reduction in revenue and support may adversely impact the Organization's financial position and operations."
|According to the Meals on Wheels America audit of December 31, 2014 (Note 7, Hotel Agreements):|
"The Organization enters into agreements with hotels for their annual conference. Hotel agreements are made several years in advance to block rooms and meeting space. Such agreements contain cancellation clauses that increase as the actual date of the annual conference approaches. Potential estimated fees due as of April 11, 2015, should the cancellation of certain agreements occur, totaled $196,240."