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 Pathfinder International tax filing for the fiscal year ending June 30, 2016, Pathfinder reports making a severance payment to Michel Zeitouny, former CFO, in the amount of $110,625, and Margaret Carlson, former VP of Admin., in the amount of $103,680, in the calendar year 2015. The total reported compensation, including the severance, paid to Michel Zeitouny and Margaret Carlson in 2015 was $241,672 and $233,424, respectively (IRS Form 990, Schedule J, Parts II & III).
According to the Pathfinder International consolidated audit of June 30, 2016 (Note 11, Concentrations, Commitments and Contingencies, Assets in Foreign Countries):

"Pathfinder maintains cash balances in Asia, Africa, Latin America and South America. Pathfinder had $4,369,502 and $3,461,201 at June 30, 2016 and 2015, respectively, deposited in foreign banks. These cash balances are exposed to currency risks/variation relative to the U.S. Dollar. Pathfinder does not hedge its currency exposures."

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