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Top Rated

Americares

CharityWatch report issued
September 2022

Top-Rated Charity
A-
CharityWatch Grade
Our independent grade based
on a number of factors.
 
75%
Program Percentage
Amount spent on programs
relative to overhead.
 
$19
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Americares
88 Hamilton Avenue
Stamford, CT 06902

Other Names

Americares Foundation
Americares Free Clinics

Tax Status

501(c)3

Stated Mission

Health-focused relief & development organization that responds to people affected by poverty or disaster with life-changing health programs, medicine & supplies.

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Data based on Fiscal Year Ended 06/30/2021

Program Percentage: 75%

The percentage of Americares's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$85,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $19

How many dollars Americares spends on fundraising to raise each $100 of contributions.

$72,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Americares Foundation & Affiliate Audited Consolidated Financial Statements multiple
Americares Free Clinics IRS Form 990 06-1422741
Americares Foundation IRS Form 990 06-1008595
Entity: Americares Foundation & Affiliate
Document Type: Audited Consolidated Financial Statements
Tax ID: multiple
Entity: Americares Free Clinics
Document Type: IRS Form 990
Tax ID: 06-1422741
Entity: Americares Foundation
Document Type: IRS Form 990
Tax ID: 06-1008595

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Americares
meets governance benchmarks.
 
Americares
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy Opt-Out Policy  

  Name Title Compensation
1 Christine Squires President/CEO $491,560
2 Richard K. Trowbridge, Jr. CFO/Senior VP, GIK Operations $321,391
3 Jed Selkowitz Chief Marketing Officer/Senior VP, Communications $290,219
1
Name: Christine Squires
Title: President/CEO
Compensation: $491,560
2
Name: Richard K. Trowbridge, Jr.
Title: CFO/Senior VP, GIK Operations
Compensation: $321,391
3
Name: Jed Selkowitz
Title: Chief Marketing Officer/Senior VP, Communications
Compensation: $290,219

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

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).