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 NAACP Legal Defense & Educational Fund (LDF) tax filing for the fiscal year ending June 30, 2015 (IRS Form 990 Schedule L, Parts II & V, Loans to and/or From Interested Persons):|
NAACP LDF made a $7,000 loan to its President & Director-Counsel. The balance due amount on the loan was $3,760 at 6/30/2015. It is reported that "NAACP LDF provides a loan to all qualified employees up to $10,000.00;" the loan is not in default, was not approved by the board or a committee, and does have a written agreement.