Helen Keller International

According to the Helen Keller International (HKI) audited Consolidated Statement of Activities and Changes in Net Assets for the year ended June 30, 2021, HKI reports receiving "Contributions – medicines and other (in-kind)" on which it placed a total value of $112,970,950. Of this amount, $112,960,950 consisted of donations of the product Mectizan for the treatment of onchocerciasis, according to Note 2 of the HKI fiscal 2021 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.]

According to the Helen Keller International consolidated audit of June 30, 2021 (Note 2 re: Revenue Recognition):

"Helen Keller Intl was granted a $1,766,300 loan under the Paycheck Protection Program ('PPP') administered by a Small Business Administration (SBA) approved partner. The loan is uncollateralized and is fully guaranteed by the Federal government. Helen Keller Intl initially recorded the loan as a refundable advance...and subsequently recognized grant revenue in accordance with guidance for conditional contributions; that is, once the measurable performance or other barrier and right of return of the PPP loan no longer existed. Helen Keller Intl has recognized $1,536,886 and $229,414 as grant revenue for the years ended June 30, 2021 and 2020, respectively. ... This PPP loan was forgiven [o]n April 20, 2021.

"Helen Keller Intl was granted a second PPP Loan of $1,654,200 (the 'Second PPP Loan')...under the Paycheck Protection Program administered by a Small Business Administration (SBA) approved partner. The loan is uncollateralized and is fully guaranteed by the Federal government. Helen Keller Intl initially recorded the loan as a refundable advance...and subsequently recognized grant revenue in accordance with guidance for conditional contributions; that is, once the measurable performance or other barrier and right of return of the Second PPP Loan no longer existed. Helen Keller Intl has recognized $280,000 as grant revenue on this loan for the year ended June 30, 2021. The portion of the loan that has not been recognized as revenue as [of] June 30, 2021 was $1,374,200 and is reported as Deferred Revenue in the [audited] Statements of Financial Position. The Second PPP Loan funds will be recognized in fiscal 2022 as qualifying expenses are incurred. If such conditions are not met, Helen Keller Intl is required to repay the PPP Loan in five years from the date of the agreement at a 1% annual interest rate."

According to the Helen Keller International consolidated audit of June 30, 2021 (Note 9, Commitments and Contingencies):

"In early 2020, an outbreak of a novel strain of coronavirus (COVID-19) emerged globally. As a result, there have been mandates from federal, state and local authorities resulting in an overall decline in economic activity. The current operating environment is changing rapidly. The extent of the impact that the COVID-19 pandemic will have on the financial performance of Helen Keller Intl's investments and operations is not reasonably estimable as of the date that the [audited] financial statements were available for issuance [January 14, 2022]. Helen Keller Intl will continue to monitor the effects of the COVID-19 pandemic and will adjust its operations as necessary."