Mission Continues

According to The Mission Continues (TMC) audit of December 31, 2020 (Note K, In-Kind Donations), TMC received donated professional services and supplies in 2020 on which it placed a value of $365,799. 

[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 Mission Continues (TMC) audit of December 31, 2020 (Note J, Concentrations of Direct Support):

"For the years ended December 31, 2020 and 2019, TMC received 38% and 24% of its total revenue from two donors, 69% and 58% from its top 10 donors, and 94% and 89% from its top 50 donors, respectively."

According to The Mission Continues (TMC) audit of December 31, 2020 (Note B re: Paycheck Protection Program):

"During 2020, the Organization applied and was awarded a loan in the amount of $1,435,200 under the Paycheck Protection Program ('PPP'). The Organization has elected to account for the loan using the grant-model... The grant-model requires the initial recording of the proceeds received as operating activities and the funds as an advance liability (deferred revenue) until the Organization has overcome the barriers associated with the funds. As of December 31, 2020, the Organization was not released from all requirements to pay back the loan by the Small Business Association ('SBA'), however all barriers associated with the funds have been met and the principal balance of $1,435,200 along with accrued interest of $11,043 was recorded as other income below expenses on the [audited] statement of activities."

According to The Mission Continues (TMC) audit of December 31, 2020 (Note N, Subsequent Events):

"The Organization evaluated all subsequent events through May 3, 2021, the date the [audited] financial statements were available to be issued. 

"In January 2021, the Organization was released of all requirements to repay the full PPP loan that was obtained in April 2020 in the amount of $1,435,200 principal and $11,043 in accrued interest.

"On December 27, 2020, the Coronavirus Relief Bill was signed into law. The legislation included provisions for the U.S. Small Business Administration's 7(a) Loan Program to support a second round of PPP loans. The Organization received a second PPP loan in March 2021 in the amount of $1,371,297."

According to The Mission Continues (TMC) audit of December 31, 2020 (Note M, Risks and Uncertainties):

"During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of the coronavirus disease 19. The pandemic has significantly impacted economic conditions in the U.S. and globally, as federal, state, and local governments reacted to the public health crisis, which has created significant uncertainties in the U.S. economy. The Organization cannot predict the ultimate impact the pandemic will have on its results of operations, financial position, liquidity, or capital resources."