According to the National Multiple Sclerosis Society consolidated audit of September 30, 2021 (Note 4 re: Donated Goods and Services), the Society reports receiving in-kind donated goods and services in fiscal 2021 on which it placed a total value of $4,361,313. Of this amount, $3,607,526 consisted of "donated print, radio and television public services announcements." [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 National Multiple Sclerosis Society consolidated audit of September 30, 2021 (Note 2, COVID-19):
"In early 2020, an outbreak of the novel strain of coronavirus ('COVID-19') emerged on a global scale. In fiscal 2020, offices were closed, events and community programs were moved to a remote status. The pandemic continues to present operating challenges, but the Society remains focused on delivering its core mission. "While offices remain closed across the country, the Society began to hold some in person events again in May 2021, when strict safety protocols could be followed. Event participation and donor-based revenues have stabilized but have not returned to pre-pandemic levels. As a result, cash and operating expenses continue to be monitored closely. "In fiscal 2020, the Coronavirus Aid, Relief, and Economic Security Act ('CARES Act') was established to assist businesses during the COVID-19 pandemic. As a part of the CARES Act, the Society elected to defer the deposit and payment of the employer share of payroll taxes between April 2020 and December 2020. These deferred payroll taxes are payable in two equal installments on December 31, 2021 and December 31, 2022. As of September 30, 2021, the Society has recorded $2,443,571 in deferred payroll taxes... "After the American Rescue Plan Act was passed by Congress, the Society became eligible for and was granted a loan in the amount of $10,000,000, pursuant to the Paycheck Protection Program under...the Coronavirus Aid, Relief, and Economic Security Act ('CARES Act') (the 'PPP Loan'). The PPP Loan, which was in the form of a five-year note dated April 2, 2021, bears interest at a rate of 1% per annum... Funds from the PPP Loan may only be used for certain costs, such as payroll costs and occupancy expenses. The Society believes that it has used the entire PPP Loan amount for qualifying expenses. Under the terms of the PPP Loan, the borrowing may be forgiven if the funds are used for qualifying expenses as described in the CARES Act. When the Society is legally released from the debt, or forgiveness is granted, the extinguishment will be recognized into income at that time." |
According to the National Multiple Sclerosis Society consolidated audit of September 30, 2021 (Note 4 re: Progressive MS Alliance): "The Progressive MS Alliance (the 'Alliance') is a collaboration of MS organizations and other stakeholders. The Society is a managing member, along with Associanzione Italiana Sclerosi Multipla (Italy), MS Research Australia, Multiple Sclerosis International Federation, MS Society (United Kingdom), and the Multiple Sclerosis Society of Canada. ... The Alliance has made a joint commitment to accelerate the development of treatment for progressive MS... "As a managing member, the Society contributed $8,035,575 through 2021 and has committed $12,517,385 over the following four years, conditional on various factors. In addition, the Society maintains custody of the pooled funds contributed from other Alliance members. The disbursement of funds for various progressive MS research initiatives is approved by voting Alliance members. The Society received a total of $3,052,593 during the year ending September 30, 2021 from Alliance members, which will be held until such time the funds are approved for expenditure. As of September 30, 2021, the Society recorded unspent donated funds, consisting of both Society and other Alliance members' monies, totaling $7,301,323, as a liability." |
