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Tragedy Assistance Program for Survivors (TAPS)

CharityWatch report issued
November 2021

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
83%
Program Percentage
Amount spent on programs
relative to overhead.
 
$10
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Tragedy Assistance Program for Survivors (TAPS)
3033 Wilson Blvd.
Suite 630
Arlington, VA 22201

Other Names

TAPS

Tax Status

501(c)3

Website

www.taps.org

Stated Mission

Offers 24/7 tragedy assistance to anyone who has suffered the loss of a military loved one, regardless the relationship to the deceased or the circumstance of the death.

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Data based on Fiscal Year Ended 12/31/2020

Program Percentage: 83%

The percentage of Tragedy Assistance Program for Survivors (TAPS)'s cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$12,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $10

How many dollars Tragedy Assistance Program for Survivors (TAPS) spends on fundraising to raise each $100 of contributions.

$9,600,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Tragedy Assistance Program for Survivors IRS Form 990 92-0152268
Tragedy Assistance Program for Survivors Audited Financial Statements 92-0152268
Entity: Tragedy Assistance Program for Survivors
Document Type: IRS Form 990
Tax ID: 92-0152268
Entity: Tragedy Assistance Program for Survivors
Document Type: Audited Financial Statements
Tax ID: 92-0152268

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.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Tragedy Assistance Program for Survivors (TAPS)
meets governance benchmarks.
 
Tragedy Assistance Program for Survivors (TAPS)
meets 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
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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 No Sharing  

  Name Title Compensation
1 Bonnie Carroll President $146,881
2 Kim Ruocco VP, Suicide Prevention $137,374
3 Audri Beugelsdijk VP, Survivor Services $128,394
1
Name: Bonnie Carroll
Title: President
Compensation: $146,881
2
Name: Kim Ruocco
Title: VP, Suicide Prevention
Compensation: $137,374
3
Name: Audri Beugelsdijk
Title: VP, Survivor Services
Compensation: $128,394

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 Tragedy Assistance Program for Survivors (TAPS) audit of December 31, 2020 (Note 13, Going Concern Considerations):

"TAPS has a deficit in its Net Assets Without Donor Restrictions (Unrestricted Net Assets) [of $(3,697,355) at December 31, 2020]. Over the years, this deficit has resulted in part from the increased number of contributions and costs associated with maintaining the contributed funds and meeting all the donor restrictions. These costs are borne by unrestricted operations of the Organization and not supported by the restricted contributions. Management recognizes the need to increase unrestricted operating revenues and margins. As such, TAPS is taking proactive steps to increase the level of donations without restrictions which can be used to support the overall operations of the Organization and reduce the net assets deficit. In addition, TAPS is considering allocating, with donor consent, a portion of restricted grants or contributions to an administrative fee to support the costs of administering such funding. This practice is common in the nonprofit industry. This would allow TAPS to offset some of its operating costs and reduce the net deficit. Given TAPS' ability to raise funding and support the costs of the Organization through stable cash flow, management believes the plans to address the deficit in Net Assets Without Donor Restrictions will produce favorable results."

According to the Tragedy Assistance Program for Survivors (TAPS) audit of December 31, 2020 (Note 8, In-Kind Contributions and Donated Services), TAPS reports receiving "in-kind tickets from various donors...for survivors to attend sporting events" in 2020 on which it placed a value of approximately $431,000. In addition, TAPS reports receiving donated "pro bono legal services" and "PSA Airtime" in 2020 on which it placed a value of $50,457 and $992,793, respectively. (The aggregate total amount of in-kind contributions and donated services received in 2020 equals approximately $1.47 million.)

[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 Tragedy Assistance Program for Survivors audit of December 31, 2020 (Note 11, Paycheck Protection Program Loan):

"On April 20, 2020, the Organization received a loan from a financial institution in the amount of $1,091,100 to fund payroll, rent, utilities, and interest on mortgages and existing debt through the Paycheck Protection Program (the PPP Loan). ... The PPP Loan bears interest at a fixed rate of 1.0% per annum, has a term of two years, and is unsecured and guaranteed by the U.S. Small Business Administration. Payment of principal and interest is deferred until the date on which the amount of forgiveness is remitted to the lender or, if the Organization fails to apply for forgiveness within 10 months after the covered period, then payment of principal and interest shall begin on that date.

"These amounts may be forgiven subject to compliance and approval based on the timing and use of these funds in accordance with the program. As the application for forgiveness has not been completed as of the date the [audited] financial statements were available to be issued [August 16, 2021], information such as the covered period is not determinable.

"Subsequent to year-end, on January 25, 2021, the Organization received an additional loan from a financial institution in the amount of $1,091,100 to fund payroll, rent, utilities, and interest on mortgages and existing debt through the Paycheck Protection Program. The terms of the loan are the same and these amounts may be forgiven subject to compliance and approval based on the timing and use of these funds in accordance with the program. The application for forgiveness has not been completed as of the date the financial statements were available to be issued."

According to the Tragedy Assistance Program for Survivors (TAPS) audit of December 31, 2020 (Note 9, Commitments, Severance Liability):

"TAPS has entered into an employment agreement with the President through June 30, 2022, with the potential to extend for a year. The agreement contains a clause whereby TAPS is liable for severance pay in the event of termination other than for cause. At December 31, 2020, the maximum potential amount of severance is approximately $158,000."

According to the Tragedy Assistance Program for Survivors (TAPS) audit of December 31, 2020 (Note 12, Risks and Uncertainties):

"During the fiscal year, the World Health Organization declared the spread of Coronavirus Disease (COVID-19) a worldwide pandemic. Subsequent to year-end, the COVID-19 pandemic continues to have significant effects on global markets, supply chains, businesses, and communities. Specific to TAPS, COVID-19 may impact various parts of its 2021 operations and financial results, including but not limited to, declines in contributions and special events participation, costs for increased use of technology, or potential shortages of personnel. Management believes TAPS is taking appropriate actions to mitigate the negative impact. However, the full impact of COVID-19 is unknown and cannot be reasonably estimated as these events are still developing."

According to the Tragedy Assistance Program for Survivors (TAPS) audit of December 31, 2020 (Note 2, Concentrations of Risks, Market Value Risk):

"TAPS also invests in a variety of investments. These investments are exposed to various risks, such as fluctuations in market value and credit risk. It is at least reasonably possible that changes in risks in the near term could materially affect investment balances and the amounts reported in the [audited] financial statements."


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