American Battlefield Trust

CharityWatch's rating of American Battlefield Trust (ABT) is for the 501(c)(3) public charity entity, tax ID #54-1426643.

According to the ABT tax filing for the fiscal year ended March 31, 2021, ABT reports re: its "Land Preservation" Program Service Accomplishments (IRS Form 990, Schedule O re: Form 990, Part III, line 4a): "Through acquisitions and grants, the American Battlefield Trust completed 35 individual transactions, protecting a total of 1,720.8 acres at 28 battlefields in 11 states..." 

As part of our financial analysis, CharityWatch makes certain adjustments to figures reported by a charity in its tax filing and/or audited financial statements to better reflect for donors how efficiently a charity is spending its donations. Given the nature of ABT's battlefield land acquisition and grant activity, CharityWatch adjusts ABT's reported program services expenses by including the charity's restricted land and easements acquisition costs in the year the funds are expended, netted against the reported value of donated land from the Trust during the year. This adjustment produces a Program Percentage that is more helpful for donors who want to know how efficiently the charity is spending public dollars in a given year. It also avoids the potential volatility that may otherwise result due to the application of accounting rules for such land transaction activities that are used in the preparation and presentation of audited financial statements and other financial reporting.

[The Our Process page provides for more information about other adjustments CharityWatch analysts make to a charity's reported financial figures during our evaluations.]

According to the American Battlefield Trust consolidated audit of March 31, 2021 (Note 6, Debt, Paycheck Protection Program Loan):

"In May 2020, the Trust received funds under the Paycheck Protection Program (PPP) of the CARES Act amounting to $601,600. The receipt of the PPP Loan required the Trust to, in good faith, certify that the then current economic uncertainty made the loan request necessary to support the ongoing operations of the Trust. The receipt of these funds, and the forgiveness of the PPP loan, is dependent on the Trust having initially qualified for the PPP loan and qualifying for the forgiveness of such loan based on the Trust's adherence to the forgiveness criteria. In February 2021, the PPP loan was forgiven.

"If the SBA (Small Business Administration) determines during the SBA audit of PPP loans that the Trust lacked an adequate basis for the required certification concerning the necessity of the loan request or the subsequent use of loan proceeds, the SBA will seek repayment of the PPP loan, including interest and potential penalties."

According to the American Battlefield Trust consolidated audit of March 31, 2021 (Note 8, Commitments and Contingencies, Employment agreement):

"The Trust entered into an employment contract with an officer of the Trust that expired December 31, 2020. Under the contract, the Trust was obligated to contribute $43,500 annually to a deferred compensation plan for the officer. A second deferred compensation plan was established during 2011 for the same officer, where the Trust shall credit the maximum allowable amount per law and shall become fully vested immediately... The officer retired from the Organization during the year ended March 31, 2021. The deferred compensation payments due to the retired officer will begin April 1, 2021 in 84 ratable installments."

According to the American Battlefield Trust consolidated audit of March 31, 2021 (Note 1 re: Risks and uncertainties):

"On January 30, 2020, the World Health Organization (WHO) announced a global health emergency because of a new strain of coronavirus (COVID-19). In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally.

"...[T]here continues to be uncertainty around the breadth and duration of the business disruption, as well as its impact on the global economy given ongoing variant mutations impacting parts of the world. ...[T]he Trust will continue to monitor the financial and business implications of the pandemic on its operations and will implement new strategies as appropriate. 

"The extent of the impact of the COVID-19 outbreak on the operational and financial performance of the Trust will depend upon certain developments, including the duration and spread of the outbreak. The Trust's operations are dependent on donations and grants from individuals, foundations, corporations, and U.S. governmental agencies. The fluidity of this situation precludes any prediction as to the ultimate impact of COVID-19. Nevertheless, COVID-19 presents potential uncertainty and risk with respect to the Trust, its performance, and its financial results.

"On March 27, 2020, the President of the United States signed into law the 'Coronavirus Aid, Relief, and Economic Security (CARES) Act.' Part of the CARES Act appropriated funds for the Small Business Administration (SBA) Paycheck Protection Program (PPP) loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by COVID-19.

"Since the CARES Act, multiple stimulus packages have been released by the U.S. government. The Trust has not utilized any of the relief funding opportunities subsequent to the PPP loan. Should circumstances change or additional stimulus acts be signed into law, the Trust will continue to evaluate the ongoing needs prospectively."