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Tearfund USA

CharityWatch report issued
April 2022

A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
84%
Program Percentage
Amount spent on programs
relative to overhead.
 
$12
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Tearfund USA
8100 E. Arapahoe Road
Suite 306
Centennial, CO 80112

Other Names

None

Tax Status

501(c)3

Stated Mission

To end poverty and injustice, and to restore dignity and hope in the world's poorest communities.

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Data based on Fiscal Year Ended 03/31/2021

Program Percentage: 84%

The percentage of Tearfund USA's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$1,900,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $12

How many dollars Tearfund USA spends on fundraising to raise each $100 of contributions.

$1,100,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Tearfund USA IRS Form 990 83-1116586
Tearfund USA Audited Financial Statements 83-1116586
Entity: Tearfund USA
Document Type: IRS Form 990
Tax ID: 83-1116586
Entity: Tearfund USA
Document Type: Audited Financial Statements
Tax ID: 83-1116586

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
Tearfund USA
meets governance benchmarks.
 
Tearfund USA
does not meet transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy Opt-In Policy  

  Name Title Compensation
1 Jason Fileta Interim CEO/VP $120,144
1
Name: Jason Fileta
Title: Interim CEO/VP
Compensation: $120,144

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

According to the Tearfund USA audit of March 31, 2021 (Note 9, Related Party Transactions):

"Approximately $728,000 and $848,000, which is approximately 43% and 73% of total support revenue, was donated to the Organization by Tearfund UK during the years ended March 31, 2021 and 2020, respectively. Tearfund UK has provided seed money for the incorporation of the Organization. Additionally, during the years ending March 31, 2021 and 2020, the Organization granted approximately $736,000 and $362,000, respectively, to Tearfund UK in order to fund projects in foreign countries. As of March 31, 2021 and 2020, amounts granted but not paid to Tearfund UK totaled approximately $106,000 and $0, respectively."

[Note: For the calculation of Tearfund USA's Cost to Raise $100 in fiscal 2021, CharityWatch adjusted out the $727,876 donated by Tearfund UK referenced above. The $736,295 Tearfund USA granted to Tearfund UK "in order to fund projects in foreign countries" represents about 38% and 46% of Tearfund USA's total spending and program services spending, respectively, in fiscal 2021.]

According to the Tearfund USA audit of March 31, 2021 (Note 8, Donor Concentration): "Two donor's giving accounted for approximately 62% and 87% of all revenue for the years ended March 31, 2021 and 2020, respectively."

According to the Tearfund USA audit of March 31, 2021 (Note 5, Paycheck Protection Programs Loan):

"The Organization entered into two separate loan agreements through a financial institution to obtain funding for Paycheck Protection Program (PPP) loan[s], administered by the Small Business Administration (SBA), through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The first PPP loan was entered into on May 4, 2020 for an amount of $134,161. The second PPP loan was entered into on February 16, 2021 for an amount of $205,900. These loans qualify for forgiveness if requirements set by the SBA are met. The Organization received forgiveness from the SBA for the full amount of the first PPP loan during the year ending March 31, 2021 and has recognized the revenue on the [audited] statements of activities under grant income. The second PPP loan accrues interest at 1% per annum and matures two years from February 16, 2021, which was the date the loan was fully funded."

According to the Tearfund USA audit of March 31, 2021 (Note 10, Risks and Uncertainties):

"The Organization's operations may be affected by the recent and ongoing outbreak of the coronavirus disease 2019 (COVID-19) which was declared a pandemic by the World Health Organization in March 2020. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on the Organization's financial position, operations, and cash flows. Other possible effects may include, but are not limited to, disruption in the Organization's workforce and a decline in value of assets held by the Organization including property and equipment. The total financial impact cannot be estimated at this time because the duration of the pandemic cannot be estimated. Management is carefully monitoring the situation and evaluating its options as circumstances evolve."


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