American Forests

According to the American Forests (AF) audit of September 30, 2020 (Note 2 re: Revenue Recognition, Contributions of services), AF received in-kind contributed services in fiscal 2020 on which it placed a value of $35,640. The contributed services "principally consist of legal, web hosting, and restoration planning services." In addition, AF reports receiving "donated advertising services" in fiscal 2020 on which it placed a value of $105,758.

[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 on the Our Process page.]

According to the American Forests (AF) audit of September 30, 2020 (Note 4, Concentrations of Risk, Revenue Risk):

"AF received a substantial portion of its revenue and support from one and two organizations during the years ended September 30, 2020 and 2019, respectively, which represented approximately 13% and 21%, respectively, of AF's total revenue and support."

According to the American Forests (AF) audit of September 30, 2020 (Note 12, Commitments and Contingencies, Employment Agreement):

"AF has a signed employment agreement with the President and Chief Executive Officer that contains terms that require a severance payment upon the occurrence of certain contractual events."

According to the American Forests (AF) audit of September 30, 2020 (Note 8, Loan Payable – Paycheck Protection Program):

"AF applied for a loan under the Paycheck Protection Program (PPP) pursuant to...the CARES Act, which was enacted on March 27, 2020. The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll through the COVID-19 coronavirus, for which AF qualified. After the loans are granted, the Small Business Administration (SBA) will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses...

"The loan was granted to AF on June 5, 2020 in the amount of $496,553 and management has used the entire loan amount for qualifying expenses in order to apply for full forgiveness...

"If AF is not approved for full forgiveness by the SBA, the loan would bear interest at a fixed rate of 1.00%, which is payable monthly commencing on December 5, 2020 and maturing on May 5, 2022. To date, no principal or interest payments have been made on the loan as full forgiveness is expected by the SBA during 2021..."

According to the American Forests (AF) audit of September 30, 2020 (Note 2 re: Subsequent Events):

"In preparing these [audited] financial statements, AF has evaluated events and transactions for potential recognition or disclosure through February 9, 2021, the date the financial statements were available to be issued.

"The COVID-19 outbreak in the United States and around the world has caused business disruption due to mandatory lockdowns implemented in most states in order to slow down the spread of the virus. AF's management has been monitoring the situation and implementing certain changes in its operations and upcoming events in order to mitigate the impact of this pandemic. While the disruption is currently expected to be temporary, there is considerable uncertainty around its duration, and the full financial impact cannot be reasonably estimated at this time."