CharityWatch's rating of New Israel Fund (NIF) also includes the financial activities of its wholly controlled supporting organization, Truth to Power Foundation, which are combined with NIF's financial activities in the organizations' audited financial statements for the year ended December 31, 2020. All intercompany transactions have been eliminated in the audit combination.
The rating does not include the NIF affiliates in Canada, Great Britain, Switzerland, Germany, and Australia, which are separately controlled entities.
According to the New Israel Fund (NIF) combined audit of December 31, 2020 (Note 1 re: Organizations):
"NIF has offices in several U.S. cities. It[s] largest offices are in New York City, San Francisco, and Israel. ... Included in the combined accompanying [audited] financial statements are the amounts from financial statements for the NIF – Israel office... At December 31, 2020, the audited financial statements of the NIF – Israel office have been included with the accounts of NIF. All intercompany transactions between the U.S. and Israel have been eliminated and are not shown in the [audited] combined financial statements.
"Founded in 2018, Truth to Power Foundation (the 'Foundation') is a wholly controlled supporting organization of the New Israel Fund established to honor the memory of beloved NIF Board member William S. Goldman. The Foundation is designed to award the annual William S. Goldman Truth to Power Award in the U.S. and Israel, convenes the public and activists working to build a more just and democratic society in each country, and is building a network of awardees and activists to sustain, enhance and elevate pro-democracy work."
According to the New Israel Fund (NIF) combined audit of December 31, 2020 (Note 11, Agreements with Affiliates):
"NIF has entered into Memoranda of Understanding with affiliates in Canada, Great Britain, Switzerland, Germany, and Australia, whereby these separate entities each conduct programming and raise funds that support NIF's grant making in Israel. The financial information of the Affiliates is not included in the [audited] combined financial statements of the Organizations [New Israel Fund and Truth to Power Foundation]."