CharityWatch's rating of ChildFund International includes the financial activities of the ChildFund international office, national offices, fundraising offices, and India Society, which are consolidated in the ChildFund International audited financial statements for the fiscal year ended June 30, 2023, according to the ChildFund consolidated audit (Note 2 re: Principles of Consolidation). Also according to Note 2: "All significant transactions between the organizations, including all inter-organization balances, have been eliminated in consolidation. In compliance with local laws, certain of these national offices and fund raising offices are separate legal entities."
According to the ChildFund International consolidated audit of June 30, 2023 (Note 1, Organization): "Most of the [child] sponsorships - approximately 217,500 - are supported by donors in the United States of America; the remainder are supported by in-country fundraising offices and international donors who sponsor children through autonomous organizations in Australia, Denmark, France, Germany, Japan, Korea, New Zealand, and Taiwan. ChildFund is a member of ChildFund Alliance, a global network of 11 child development organizations." [Note: The financial activities of the ChildFund "autonomous organizations" noted above are not included in CharityWatch's rating of ChildFund International. According to Note 12 of the ChildFund fiscal 2023 consolidated audit: "These autonomous organizations are incorporated in their respective countries for the purpose of initiating and overseeing programs that are distinct and unique to their mission. Because ChildFund does not control these organizations, their related assets, liabilities, net assets, revenues and expenses are not reflected in the accompanying [audited] consolidated financial statements."] According to the ChildFund International consolidated audit of June 30, 2023 (Note 14, Related Party Transactions):
"In April 2002, ChildFund Alliance was established for charitable purposes to promote the well-being of children and their families. The Board of Directors of ChildFund Alliance includes ChildFund Board and staff; however, ChildFund does not have an economic or controlling interest in ChildFund Alliance; accordingly, ChildFund Alliance is not consolidated in ChildFund's [audited] consolidated financial statements..." |
According to the ChildFund International audited Consolidated Statement of Activities for the year ended June 30, 2023, ChildFund received contributions of gifts-in-kind on which it placed a total value of $52,170,819. Included in this value is $40,792,817 of in-kind media in the form of public service announcements, and $7,985,976 of gifts-in-kind pharmaceuticals, according to Note 2 of the ChildFund fiscal 2023 consolidated audit. [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.] |