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)
According to the National Federation of the Blind consolidated audit of December 31, 2016 (Note 1, Donated Services and Media), the Federation reports receiving in-kind donated volunteer services and donated media in 2016 on which it placed a value of approximately $3,024,000 and $1,338,000, respectively, for a total value of approximately $4,362,000.

[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 National Federation of the Blind consolidated audit of December 31, 2016 (Note 6, Alternative Investments):

"The Federation makes program-related investments to further its purpose of integrating the blind into society on the basis of equality. Such investments are made primarily to accomplish the Federation's program purpose rather than to produce income..."

"The Federation has invested $125,000 in E.A.S.Y., LLC (EASY), to develop and market products to enhance the technologies for freehand tactile graphics. ...The Federation has a twenty percent (20%) interest and has the ability to exert significant influence..."

"The Federation has invested $260,000 in Transforming Braille Group, LLC (TBG), to support and encourage the development of lower cost Braille devices, tools, and equipment. ...The Federation has a twenty-one percent (21%) interest and has the ability to exert significant influence..."

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