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 SOS Children's Villages--USA audit of December 31, 2015 (Note 8, Equity Interest In Privately-Held Companies):|
"On December 31, 2013, the Organization received from a trust a contribution of a 50% interest in each of three privately-held S Corporations. The fair value of these contributions amounted to $3,000,000 at December 31, 2013... At December 31, 2014, these investments had a carrying value of $2,814,257. During 2015, all three privately-held S Corporations were sold for approximately $3,100,000 and the Organization recognized a gain on the sale of approximately $435,000, net of federal income taxes of approximately $75,000.
"During 2014, the Organization received cash contributions as part of the liquidation of the estate in which the trust resided of approximately $7,300,000... Additionally, the Organization received, in 2015, interest in three privately-held companies from this trust which were sold for approximately $220,000."
|According to the SOS Children's Villages--USA audit of December 31, 2015 (Note 5, Notes Receivable):|
"In March 2015, the organization executed a loan to SOS Children's Villages Florida, Inc. an affiliate organization, in the amount of $500,000. The loan carries interest at a rate of 3% and matures in March 2020. Principal and accrued interest as of December 31, 2015 was $508,092. Principal and interest is not due until the loan matures in 2020."