on a number of factors.
Ratings & Metrics
American Friends Service Committee's rating was adjusted for Joint Costs. If you are a donor who considers direct mail, telemarketing, and other Joint Cost solicitations to be true charitable programs, the below efficiency ratios, which were not adjusted for joint costs, may better reflect your goals.
|Program %||Cost to Raise $100|
Governance & Transparency
|1||Joyce Ajlouny||General Secretary||$234,951|
|2||Hector Cortez||Deputy General Secretary||$209,425|
|3||Jason Drucker||Associate General Secretary, Advancement||$205,970|
Name: Joyce Ajlouny
Title: General Secretary
Name: Hector Cortez
Title: Deputy General Secretary
Name: Jason Drucker
Title: Associate General Secretary, Advancement
CharityWatch is able to evaluate the financial efficiency of American Friends Service Committee (AFSC) and issue it a letter grade rating by conducting an analysis of its audited financial statements.
According to the AFSC audit of September 30, 2020 (Notes 1 & 2), AFSC has a central office, four U.S. regional offices, 32 area offices, two branch offices, and 16 international project offices. The audited financial statements include the financial activities of AFSC's national, regional, area, and international project offices. All material interoffice accounts are eliminated in the audit.
AFSC is not required to complete a Form 990 tax filing for submission to the IRS due to its status as an "association of churches."
"AFSC is incorporated as a charity in Pennsylvania and is classified by the U.S. Internal Revenue Service as a tax-deductible 'association of churches.'
"The legal governing body is a corporation, composed of members appointed by Quaker meetings from across the country, which meets yearly. A smaller Board of Directors meets more regularly and is charged with establishing policies, considering and approving an annual budget, and appointing the General Secretary, one of two positions that must be filled by a Quaker."
According to the American Friends Service Committee (AFSC) audit of September 30, 2020 (Note 6, Refundable Advance):
"On May 4, 2020, AFSC received a $3,805,700 loan under the Small Business Administration's ('SBA') Payment [sic] Protection Program (the 'PPP Loan'). AFSC considers this to be a conditional contribution as it expects to meet the criteria for loan forgiveness upon incurring eligible expenditures and when its application for forgiveness is accepted by the SBA. AFSC considers the incurrence of eligible expenses and the acceptance of its application for forgiveness to be barriers in the PPP Loan agreement and as such, will recognize contribution income when these conditions are substantially met. If such conditions are not met, AFSC is required to repay the PPP Loan in two years from the date of the agreement at a 1% annual interest rate."
According to the American Friends Service Committee (AFSC) audit of September 30, 2020 (Note 12, Contingencies):
"In early 2020, an outbreak of a novel strain of coronavirus (COVID-19) emerged globally. As a result, there have been mandates from federal, state and local authorities resulting in an overall decline in economic activity. The current operating environment is changing rapidly. The extent of the impact that the COVID-19 pandemic will have on the financial performance of AFSC's operations and investments is not reasonably estimable as of the date that the [audited] financial statements were available for issuance [April 21, 2021]. AFSC will continue to monitor the effects of the COVID-19 pandemic and will adjust its operations as necessary."
According to the American Friends Service Committee (AFSC) audit of September 30, 2020 (Note 2 re: Investment in Friends Center Corporation):
"The Friends Center Corporation ('FCC') is a 501(c)(3) nonprofit organization comprised of three member organizations, including AFSC, the Philadelphia Yearly Meeting of the Religious Society of Friends ('PYM'), and Central Philadelphia Monthly Meeting ('CPMM'), and governed by an agreement among these organizations (the 'FCC Agreement'). The FCC constructed and operates the Friends Center complex in Philadelphia for the use by AFSC, other Quaker organizations, and organizations with similar beliefs. Certain provisions of the FCC Agreement permit each member organization to withdraw from FCC with proper notification. In the event of a withdrawal or dissolution, AFSC is entitled to receive an amount equal to 37% of the Friends Center's net assets, as defined in the FCC Agreement. The percentages for PYM and CPMM are 33% and 30%, respectively. AFSC accounts for its investment in FCC using the equity method of accounting..."
According to the American Friends Service Committee (AFSC) audit of September 30, 2020 (Note 4, Investment in Friends Center):
"Summarized audited financial information for the Friends Center Corporation ('FCC') for the years ended June 30, 2020 and 2019 [includes]:" Net Assets of $7,021,755* and $7,351,692*, respectively.
"* AFSC's 37.0% equity interest of $2,598,049 and $2,720,126 as of June 30, 2020 and 2019, respectively, is recorded as 'Investment in Friends Center' in the [audited] statement of financial position. Its share of the FCC's net changes in net assets was $(122,077) and $(96,233) for the years ended June 30, 2020 and 2019, respectively, which is disclosed within 'Investment (losses)/gains not appropriated' in the [audited] statement of activities."
According to the American Friends Service Committee (AFSC) audit of September 30, 2020 (Note 9, Related Party Transactions):
"In connection with the renovations of the Friends Center, Economic Development Revenue Bonds ('Bonds') were issued through the Narberth Industrial Development Authority to Friends Center Corporation. The Friends Center is responsible for the payment of debt service on the Bonds, which is passed onto partners of the Friends Center in the annual rent. At June 30, 2020 and 2019, the Friends Center's fiscal year-end, the Bonds, which mature in 2038, had outstanding balances of approximately $5.7 million and $5.8 million, respectively, and is guaranteed, jointly and severally by AFSC and the other partners of the Friends Center.
"AFSC owns shares of Friends Fiduciary Quaker Index Fund, a related party, which totaled approximately $23 million at September 30, 2020 and 2019."