Americares

CharityWatch's rating of Americares also includes the financial activities of Americares Free Clinics, Inc. (tax ID #06-1422741), which are consolidated in the Americares audited financial statements for the fiscal year ended June 30, 2021.

Americares Free Clinics, an affiliated organization, operates four free health clinics in Connecticut, according to Note 1 of the Americares fiscal 2021 consolidated audit. It is organized as a 501(c)(3) public charity. All inter-company amounts have been eliminated in the audit consolidation.

According to the Americares audited Consolidated Statement of Activities for the fiscal year ended June 30, 2021, Americares received in-kind "Donated medical and disaster supplies" and "Contributed services, facilities and freight" on which it placed a total value of approximately $1,147,315,000 and $11,038,000, respectively.

[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 Americares consolidated audit of June 30, 2021 (Note 9, Loan Payable, Line of Credit and Paycheck Protection Program ('PPP') Loan) [$s in thousands, as noted]:

"In fiscal year 2020, the Department of Treasury implemented the Small Business Administration's ('SBA') Paycheck Protection Program ('PPP'), which provides potentially forgivable loans to nonprofits with 500 or fewer employees and meeting certain other eligibility requirements. The SBA will forgive loans if employees are maintained on the payroll for 8 to 24 weeks after the loan originates and the loan proceeds received are used for payroll, rent, mortgage, interest or utilities. In April 2020, the [Americares] Foundation and the [Americares Free] Clinics applied for PPP loans and approval was granted. The Foundation received loan proceeds of $3,642 [thousand] and the Clinics received loan proceeds of $415 [thousand] in May 2020. The Foundation opted to account for PPP loan monies received as a refundable advance until the conditions for recognition as revenue have been satisfied. In May 2021, the Clinics received notice of forgiveness from the SBA and the $415 [thousand] forgiveness of debt is included in contributions and private grants, without donor restrictions, in the accompanying [audited] consolidated statement of activities. The Foundation balance is included in deferred revenue on the accompanying [audited] consolidated statement of financial position as of June 30, 2021. In August 2021, the Foundation also received notice of forgiveness from the SBA, for which revenue will be recognized during the fiscal year ending June 30, 2022."

According to the Americares Foundation tax filing for the fiscal year ended June 30, 2021, Americares reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding severance payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 4a):

"Kevin Gilrain, Senior VP Human Resources, received a severance payment in January, 2021. Since the payment was made in calendar year 2021, the amount of severance is not reported in Schedule J, but will be reported in next year's 990."

[The reported total compensation for Kevin Gilrain in calendar year 2020 is $264,244; he is reported as Senior VP, Human Resources "(thru 12/2020)" (IRS Form 990, Schedule J, Part II).]

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7):

"President & CEO, Christine Squires, received a discretionary bonus in calendar year 2020 for exceeding certain performance-based objectives established by the compensation committee. The determination to issue a bonus is based on a recommendation by the compensation committee to the full board, for board approval. President Christine Squires did not participate in the decision-making process to award the bonus."

The "Bonus & incentive compensation" reported for President & CEO, Christine Squires, is $19,000; her reported total compensation for calendar year 2020 is $491,560 (IRS Form 990, Schedule J, Part II).