CharityWatch REPORT
Issued June 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.

Note(s)
CharityWatch's rating of Mercy Corps is based on its consolidated audited financial statements for the fiscal year-ended June 30, 2016.

According to Note 1(a) of the Mercy Corps consolidated audit, "The consolidated financial statements include the accounts of Mercy Corps Global [Mercy Corps and affiliates] and its controlled affiliates or affiliates under common control;" the consolidated affiliates include: (1) Mercy Corps Europe (added July 1, 2015); (2) Asian Credit Public Fund; (3) Hunchun Association for Poverty Alleviation in the Tumen River Area; (4) Kompanion Development Institution; (5) Kompanion Financial Group Microfinance Closed Joint Stock Company; (6) MC Morocco, LLC; (7) MC Nigeria (Limited by Guarantee); (8) Mercy Corps China Holdings, LLC; (9) Mercy Corps Condominium Association; (10) Mercy Corps Development Holdings, LLC; (11) Mercy Corps Foundation; (12) Mercy Corps India, Not For Profit, Joint Stock Company; (13) Mercy Corps International, Jordan; (14) Mercy Corps Liaoning Holdings, LLC; (15) Mercy Enterprise Corporation d/b/a Mercy Corps Northwest; (16) Yanbian Association for Poverty Alleviation in the Tumen River Area; (17) Yayasan Microfinance Innovation & Resource Center Foundation; and (18) Yayasan Mercy Corps Indonesia.
According to the Mercy Corps audited Consolidated Statement of Activities for the year ended June 30, 2016, Mercy Corps reports receiving donated in-kind material aid valued at $4,928,000 and donated in-kind services valued at $663,000, resulting in total in-kind contributions valued at $5,591,000 in fiscal 2016.

[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".]

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