Unbound

CharityWatch's rating of Unbound does not include the financial activities of the 37 project offices in 19 countries with which it partners.

According to the Unbound consolidated audit of December 31, 2020 (Note 1, re: Nature of Operations):

"Unbound also partners with 37 project offices in 19 countries to administer the various organization programs. Because Unbound does not exercise control over the project offices, the operations of the project offices are not consolidated in Unbound's [audited] consolidated financial statements..."

According to the Unbound consolidated audit of December 31, 2020 (Note 4, Paycheck Protection Program Loan):

"In April 2020, Unbound received a loan through the Small Business Administration (SBA) Paycheck Protection Program established by the CARES Act. A portion or all of the loan may be eligible for forgiveness under the CARES Act. Unbound submitted the application for forgiveness in October 2020, however, the SBA has not forgiven any portion of the obligation under the loan. Payments of principal and interest are deferred until the date of notice from the SBA if the loan is forgiven or not entitled to forgiveness. In the event the forgiveness application is denied, the balance due on the loan and interest of 1 percent is payable in monthly installments through April 2022."

According to the Unbound consolidated audit of December 31, 2020 (Note 8, Risks and Uncertainties):

"As a result of the spread of the SARS-Co-V-2 virus and the incidence of COVID-19, economic uncertainties have arisen which may negatively affect the financial position, change in net assets and cash flows of Unbound. The duration of these uncertainties and the ultimate financial effects cannot be reasonably estimated at this time."

According to the Unbound 2020 tax filing re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

"Prior to travel restrictions due to the COVID-19 pandemic, Anabella Wasserman, wife of Scott Wasserman, President/CEO of Unbound, traveled internationally with Mr. Wasserman and other Unbound staff to participate in project mentoring/monitoring and sponsor awareness trips to various Unbound projects. Unbound compensated Ms. Wasserman for her time as an independent contractor and paid for her airfare because her participation was for bona fide business purposes. Ms. Wasserman's long standing relationship with Unbound, previous involvement leading several church mission trips, being a native of Guatemala and being bi-lingual are just a few of the many attributes that enable her to work successfully and to help Unbound build meaningful relationships with project staff, awareness trip participants and sponsored families."