CharityWatch REPORT
Issued February 2019

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.

CharityWatch's rating of the New Israel Fund (NIF) includes the financial activities of the NIF operations in the U.S. and in Israel, which are combined in the NIF audited financial statements for the fiscal year ended December 31, 2017.

According to the NIF audit of December 31, 2017 (Note 1, Organization):

"NIF is headquartered in San Francisco and has offices in several U.S. cities and in Israel. ... Included in the accompanying [audited] financial statements are the amounts from financial statements for the NIF - Israel operation... All intercompany transactions between the U.S. operation and the Israel operation have been eliminated and are not shown in the [audited] financial statements."

According to the NIF audit of December 31, 2017 (Note 9, Agreements With Affiliates):

"NIF has entered into Memoranda of Understanding with affiliates in Canada, Great Britain, Switzerland, Germany, and is in the process with Australia, whereby these separate entities each conduct programming and raise funds that support NIF grant making in Israel. The financial information of the Affiliates is not included in the [audited] financial statements of NIF."
According to the New Israel Fund (NIF) 2017 tax filing, NIF reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

"Anthony Fullington received severance in the amount of $74,417."

Anthony Fullington is reported as "CFO (through 01/17)" and received reported total compensation of $121,713 in 2017 (IRS Form 990, Part VII).
According to the New Israel Fund (NIF) audit of December 31, 2017 (Note 12, Severance):

"Under Israeli law, NIF has recorded a liability reflecting the difference between the total obligation for severance pay, less the amounts that have been deposited in pension and provident funds and management insurance policies.

"Such severance, pension and provident funds in Israel reflect amounts deposited in a central severance pay fund as required by law. The fund has an accrued severance liability of $176,968, payable upon termination of employment."

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