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. Give Kids The World'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 |
|---|---|---|
| Give Kids the World | Audited Financial Statements | 59-2654440 |
| Give Kids the World | IRS Form 990 | 59-2654440 |
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Entity: Give Kids the World Document Type: Audited Financial Statements Tax ID: 59-2654440 |
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Entity: Give Kids the World Document Type: IRS Form 990 Tax ID: 59-2654440 |
Governance & Transparency
Top Salaries
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Pamela Landwirth | President / CEO | $399,976 |
| 2 | Amy Racicot | Chief Financial Officer | $283,030 |
| 3 | Ian Cole | Chief Innovation Officer | $266,362 |
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1 Name: Pamela Landwirth Title: President / CEO Compensation: $399,976 |
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2 Name: Amy Racicot Title: Chief Financial Officer Compensation: $283,030 |
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3 Name: Ian Cole Title: Chief Innovation Officer Compensation: $266,362 |
Analysts' Notes
According to the Give Kids the World audit of June 30, 2024 (Note 10, Contributions - Non-Cash): "The Organization receives donations from several Central Florida theme parks, which consist of admission tickets, onsite parking, character visits, and family photograph packages utilized by families while visiting the theme parks..." The Organization received non-cash contributions during the fiscal year ended June 30, 2024, on which it placed a total value of $42,817,605. Of this amount, $39,040,759 is attributed to "Theme park attraction tickets, parking, and photos." [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 Give Kids the World audit of June 30, 2024 (Note 13, Employee Retention Credit): "...The Organization had determined that it met the qualifications for the ERC and applied for credits of approximately $-0- and $286,000 for the years ended June 30, 2024 and 2023, respectively and is reflected in the statement of activities as a component of grant revenue. At June 30, 2024 and 2023, approximately $1,000 and $496,000, respectively, of ERC claims had not been received and is reflected as a component of accounts receivable...During the year ended June 30, 2024, the Organization received a notice from the Internal Revenue Service ('IRS') regarding credits claimed in the amount of approximately $338,000. The Organization has provided documentation to support the claim and believes it will be successful in resolving the notice from the IRS..." |
According to the Give Kids the World audit of June 30, 2024 (Note 14, Commitments and Contingencies, Concentrations and Credit Risk): "...More than 90% of the Organization's non-cash contribution revenue came from a small group of donors... ...Approximately 78% of the reservations for families visiting the Village come from a single wish granting organization..." According to the Give Kids the World audit of June 30, 2024 (Note 14, Commitments and Contingencies, Construction Commitments): "The Organization entered into contracts for the renovation of a venue, Mayor Clayton's Wonderlab, at the Village for approximately $1,400,000 of which approximately $1,095,000 has been paid as of June 30, 2024. The Organization has successfully raised funds to support the venue renovation." |
According to the Give Kids the World audit of June 30, 2024 (Note 11, Related-Party Transactions): "From time to time, the Organization engages in transactions with individuals who have family relationships with Board members or management, or with companies in which Board members or management have ownership interests. Independent members of the Organization's Board of Directors approved the transactions after considering the terms of comparable services. During the years ended June 30, 2024 and 2023, the Organization paid approximately $94,000 and $201,000 for marketing, consulting, and food services, respectively. During the years ended June 30, 2024 and 2023, the Organization paid approximately $29,000 and $13,000 for legal services to such parties, respectively." According to the Give Kids the World (GKTW) tax filing for the fiscal year ended June 30, 2024 (IRS Form 990, Schedule L, Parts IV & V), GKTW reports re: Business Transactions Involving Interested Persons: A transaction in the amount of $94,014 involving Matthew Treski, "family of board member." The transaction is described as: "Compensation for employment." |
According to the Give Kids the World tax filing for the fiscal year ended June 30, 2024, the Organization reports re: Compensation, Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (IRS Form 990, Schedule J, Part II): The Organization reports providing "bonus & incentive compensation" during 2023 to six individuals. Pamela Landwirth, President & CEO, received $37,250 of bonus and incentive compensation, with total reported compensation of $399,976. The remaining five individuals received $575 to $18,500 with total reported compensation ranging from $161,035 to $283,030. |