Celebrate Women’s History Month: Donate to a Top-Rated Cha...
Celebrate Women’s History Month: Donate to a Top-Rated Cha...
Mar 01, 2024
March is Women’s History Month. ...
March is Women’s History Month. ...
Compassion International is not required to file an annual return (Form 990) with the IRS or state regulators because it is a religious organization. CharityWatch is therefore unable to provide salary information for this group. CharityWatch's letter grade rating of Compassion International is based on the Compassion International and Affiliates audited consolidated financial statements for the fiscal year ended June 30, 2024. |
CharityWatch's rating of Compassion International also includes the financial activities of its international affiliates, which are consolidated in the Compassion International audited financial statements for the fiscal year ended June 30, 2024. "All significant intercompany balances and transactions have been eliminated in consolidation," according to audit Note 2. According to the Compassion International and Affiliates consolidated audit of June 30, 2024 (Note 1 re: Affiliates): "Compassion's consolidated international affiliates at June 30, 2024 and 2023 include:
According to the Compassion International and Affiliates consolidated audit of June 30, 2024 (Note 1 re: Global Partner Alliance): "Compassion has a related-party relationship with an alliance of international organizations, referred to as covenant partners...This alliance is entitled the Global Partner Alliance (GPA)... ...One covenant partner, Compassion Australia, is a wholly owned affiliate and was acquired effective July 1, 2023...Results of Compassion Australia are included in Compassion's consolidated [audited] results. The remaining covenant partners within the GPA are unaffiliated with Compassion...see footnote 9...Compassion does not exercise the level of control necessary to consolidate covenant partners, and therefore their operations are not reflected in the accompanying consolidated [audited] financial statements." CharityWatch's rating of Compassion International does not include the financial activities of the eleven unaffiliated international organizations that, along with Compassion International, are part of the "Global Partner Alliance." The organizations in the Global Partner Alliance (GPA) with Compassion include organizations located in South Korea, Australia, the United Kingdom, Canada, the Netherlands, Germany, Switzerland, Italy, France, and New Zealand, as well as "Compassion Norden (Nordic countries)," according to audit Note 9 (Related-party Contributions), which also reports that Compassion received $205,031,000 in total contributions from those 11 GPA organizations in fiscal 2024. [Note: The above-noted $205,031,000 in Global Partner Alliance contributions Compassion received in fiscal 2024 are excluded from CharityWatch's calculation of Compassion International's Cost to Raise $100 ratio.] |
According to the Compassion International and Affiliates consolidated audit of June 30, 2024 (Note 2 re: Severance Benefits): "Compassion provides certain severance benefits to eligible former or inactive employees during the period subsequent to employment but prior to retirement through plans individualized for each geography in accordance with local laws and regulations or common market practices...Accrued severance for years ended June 30, 2024 and 2023, was $4.9 million and $3.6 million, respectively...Compassion's severance expense was $7.8 million and $5.0 million for the years ended June 30, 2024 and 2023, respectively..." |