Large Asset Reserves
CharityWatch reduces the grade of any charity that has available assets equal to three to five years of operating expenses. Charities with "years of available assets" of more than five years receive an "F" grade regardless of other measurements. In CharityWatch's view, a reserve of less than three years is reasonable and does not affect a charity's grade. These reductions in grades are based solely on the charities' asset reserves as compared to budget. The CharityWatch definition of "years of available assets" includes funds currently available for the charity's use, including investments that the charity has set aside as a reserve but could choose to spend if it wanted to do so. Canine Companions for Independence's letter grade rating has been downgraded because it has 3 or more years of available assets.
See Our Process to learn more about how CharityWatch considers a charity’s asset reserves and the High Asset List for a list of charities whose ratings have been reduced due to high assets.
Website
Ratings & Metrics
Financial Documents
| Entity | Document Type | Tax ID |
|---|---|---|
| Canine Companions for Independence | Consolidated Audited Financial Statements | Multiple |
| Canine Companions for Independence | IRS Form 990 | 94-2494324 |
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Entity: Canine Companions for Independence Document Type: Consolidated Audited Financial Statements Tax ID: Multiple |
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Entity: Canine Companions for Independence Document Type: IRS Form 990 Tax ID: 94-2494324 |
Governance & Transparency
Top Salaries
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Paige Mazzoni | Chief Executive Officer | $419,826 |
| 2 | Dawn Gatley | VP, People | $234,439 |
| 3 | Keith Edwards | Chief Financial Officer | $223,378 |
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1 Name: Paige Mazzoni Title: Chief Executive Officer Compensation: $419,826 |
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2 Name: Dawn Gatley Title: VP, People Compensation: $234,439 |
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3 Name: Keith Edwards Title: Chief Financial Officer Compensation: $223,378 |
Analysts' Notes
CharityWatch's rating of Canine Companions for Independence (CCI) also includes the financial activities of its subsidiary, Canine Companions Charitable Properties, LLC (the LLC), which is consolidated in the CCI audited financial statements for the year ended December 31, 2023. All inter-entity transactions and balances have been eliminated upon consolidation. According to the Canine Companions for Independence (CCI) consolidated audit of December 31, 2023 (Note 2, Summary of Significant Accounting Policies, Investment Held at Equity Method): "On December 28, 2020, the Organization established Canine Companions Charitable Properties, LLC (the LLC), with the Organization as the sole member. The LLC was formed for the purpose of holding certain assets to be used to further the charitable mission of the Organization..." |
According to the Canine Companions for Independence (CCI) consolidated audit of December 31, 2023 (Note 2, Summary of Significant Accounting Policies, Contributed Goods and Services): CCI received contributed nonfinancial assets during the fiscal year-ended December 31, 2023, on which it placed a total value of $332,516. [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 Canine Companions for Independence audit of December 31, 2023 (Note 18, Affiliation Agreement): "Baylor Scott & White Health (BSWH) and Canine Companions originally entered into an affiliation and management agreement effective September 30, 2013. The parties cooperated in the development of Canine Companions' South Central Training Center in Irving, Texas, built and owned by BSWH at its sole cost and expense but operated, staffed and managed by Canine Companions. The new campus, built and owned by BSWH, opened October 2015. The project included dormitory rooms and kennels with the overall objective of developing a campus capable of graduating approximately 60 new service dog teams per year. The initial term of the agreement was for 10 years. In consideration of the benefits of affiliation with Canine Companions and Canine Companions' commitment to establishing and operating a whelping center, the Canine Early Development Center (CEDC), near its campus in Santa Rosa, BSWH made a one-time contribution to Canine Companions of $500,000 intended to fund 50% of the operating costs of the CEDC for its first 3 years, ended June 30, 2019. Besides ensuring the underwriting of the operating costs of the Canine Companions program in Texas, BSWH also paid Canine Companions a $470,000 fee per annum beginning January 1, 2014, representing the approximate historical fundraising amount by Canine Companions in Texas. In subsequent years, BSWH was charged an annual management fee not to exceed 7% of the mutually approved annual budget for the Training Center. BSWH and Canine Companions entered into a new five-year agreement effective July 1, 2022. Under this new agreement, Canine Companions will now be solely responsible for its own fundraising with no further reliance on fundraising support from BSWH. BSWH shall pay to Canine Companions annual fixed fees as follows, payable in substantially equal monthly installments (and pro-rated for any partial fiscal year):..." Fiscal Year: July 1, 2023 - June 30, 2024; Management Fee: $569,162 Fiscal Year: July 1, 2024 - June 30, 2025; Management Fee: $221,000 Fiscal Year: July 1, 2025 - June 30, 2026; Management Fee: $221,000 Fiscal Year: July 1, 2026 - June 30, 2027; Management Fee: $221,000 "...Subject to puppy supply and satisfaction of placement criteria, Canine Companions will seek to place with members of the BSWH community up to 20% of the puppies raised or trained at the facility. As of December 31, 2023 and 2022, the outstanding receivable under this arrangement is approximately $546,000 and $480,000, respectively. $393,000 of the 2023 receivable balance was paid in January 2024." |
According to the Canine Companions for Independence (CCI) 2023 tax filing, CCI reports re: the existence of a family or business relationship among officers, directors, trustees, or key employees: "Anne Gittinger and John WM. Hopen have a family relationship" (IRS Form 990, Schedule O re: Form 990 Part VI, Section A, line 2). Anne Gittinger and John WM. Hopen are both reported as "Director." Neither are reported as being an officer. There are twenty voting members on the CCI board at year-end 2023, with all twenty reported as independent (IRS Form 990, Part VII, Section A & Part VI, Section A, lines 1a & 1b). |