According to the Episcopal Relief & Development (ERD) audited Statement of Activities for the year ended December 31, 2018, ERD received contributed services in 2018 on which it placed a total value of $2,212,138.
[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 Episcopal Relief & Development audit of December 31, 2018 (Note 10, Commitments):
"Effective January 1, 2016, the Organization entered into an agreement with the Executive council of the Episcopal Church ('Executive Council') and the Society [the Domestic and Foreign Missionary Society of the Protestant Episcopal Church of the United Sates of America] regarding the working relationship between the Organization and Executive Council and the Society. This agreement supersedes agreements from 2002, 2007 and 2011. The current agreement extends through December 31, 2018.
"The agreement identifies the range of financial, accounting, building services, technology, human resources and investment services that the Society will provide at no cost to the Organization... The agreement also includes a 3-year lease for the Organization's current office suite that commenced on January 1, 2016. The value of the lease is calculated at a monthly rate of $27,186. This monthly rate is payable solely from the grant authorized by the General Convention of The Episcopal Church in its 2016-2018 budget. The rent is offset against the grant, such that neither the rent nor the grant is paid in cash, and the Organization has no obligation to pay rent during the lease term...
"In addition, on October 19, 2018, the Organization entered into a similar agreement for a 3-year lease term for the period January 1, 2019 through December 31, 2021. The value of this lease is calculated at a monthly rate of $28,851. This monthly rate is payable solely from the grant authorized by the General Convention of The Episcopal Church in its 2019-2021 budget..."