American Jewish Committee (AJC)

CharityWatch's rating of American Jewish Committee (AJC) also includes the financial activities of the AJC affiliates consolidated in the AJC audited financial statements for the year ended December 31, 2021. All significant interorganizational balances and transactions have been eliminated in the audit consolidation.

According to the AJC 2021 consolidated audit (Note 1, Nature of Organizations Comprising AJC):  "American Jewish Committee and its Affiliates, Institute of Human Relations ('IHR'), AJC Jerusalem, AJC Berlin, Transatlantic Institute ('TAI') [headquartered in Belgium], AJC Central Europe [headquartered in Poland], AJC France, and AJC UAE [headquartered in Abu Dhabi] (collectively, 'AJC') are related through common control."

Also according to Note 1 of the AJC 2021 consolidated audit:  "IHR [Institute of Human Relations] is a fundraising organization that remits all its revenues to American Jewish Committee. In 2016, IHR completed its conversion into a 509(a)(3) supporting organization of American Jewish Committee that is controlled by American Jewish Committee and exists solely to raise funds for American Jewish Committee."

According to the American Jewish Committee (AJC) consolidated audit of December 31, 2021 (Note 4, Contributions Receivable) [$s in thousands, as noted]:

"...Included in contributions and special events and trusts and bequests revenue at December 31, 2021 and 2020 is revenue of $9,070 [thousand] and $24,314 [thousand], respectively, from two and three donors, respectively."

[The $9,070,000 AJC received from two donors in 2021 represents approximately 17% of its total contributions in 2021.]

According to the American Jewish Committee (AJC) consolidated audit of December 31, 2021 (Note 10, Leases and Other Commitments, Loan) [$s in thousands, as noted]:

"On April 17, 2020, AJC (the 'Borrower'), was granted a loan (the 'Loan') from Citibank, N.A., in the aggregate amount of $4,505 [thousand], pursuant to the Small Business Administration Paycheck Protection Program (the 'PPP') under...the Coronavirus Aid, Relief, and Economic Security ('CARES') Act, which was enacted March 27, 2020. The Loan...matures on April 17, 2022 and bears interest at rate of 1.00% per annum, payable monthly commencing on October 17, 2020. ... Funds from the Loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, and utilities. AJC used the entire Loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the Loan may be forgiven if they are used for qualifying expenses... On September 20, 2021, forgiveness was granted, and the extinguishment was recognized as income in fiscal 2021."

According to the American Jewish Committee (AJC) consolidated audit of December 31, 2021 (Note 2 re: Risks and Uncertainties):

"AJC invests in various types of investments securities. Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and those changes could materially affect the amounts reported in the [audited] consolidated financial statements."

According to the American Jewish Committee (AJC) consolidated audit of December 31, 2021 (Note 1, Nature of Organizations Comprising AJC):

"The COVID-19 pandemic, whose effects first became known in January 2020, is having a broad and negative impact on commerce and financial markets around the world. The extent of the impact of COVID-19 on AJC's operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, which at present cannot be determined. Accordingly, the extent to which COVID-19 may impact AJC's financial position, statements of activities, functional expenses and cash flows is uncertain."