Samaritan's Purse Amasses Over a Billion Dollars in Assets, Raising Red Flags : The Roys Report / Gloria Kodzwa
Interesting report
Gloria
Charitable groups are supposed to use their funds to fund their mission, not fill their bank accounts.Samaritan’s Purse has spent hundreds of millions less than it raised in recent years and has amassed assets exceeding a billion dollars.
This massive reserve is raising red flags among nonprofit experts and charity watchdogs.
https://julieroys.com/samaritans-purse-amasses-over-a-billion-dollars-in-assets-raising-red-flags/
According to para 69 of the (click) UNICEF financial report and audited financial statement, (A/76/5/Add.3), UNICEF recorded a surplus of $1.22 billion in 2020 (2019: $188.21 million), which is added to its net assets (reserves).
ReplyDeleteAccording to para 70 in the same report, at the end of 2020, the total assets of UNICEF were $13.02 billion (2019: $11.17 billion)
The Roy Report also raises the issue of CEO compensation: according to charitynavigator.org (accessible from the UNICEF USA website unicefusa.org) and latest publicly available IRS form (through guidestar.org), the compensation of the (former) UNICEF USA CEO was 902,632 USD, in 2019.
ReplyDeleteThis is a sad commentary on the operational shortcomings of UNICEF. Although simply spending for the sake of spending is NOT the right answer, there must be a critical analysis why the organization is amassing such huge amounts, what are the drawbacks to programme expenditure, and how can the management resolve this matter. From a fund-raising point of view this accumulation of assets will also adversely affect donors' appetite for additional funding of UNICEF activities in the future.
ReplyDeleteIt seems to me that the responsibility of a CEO includes money management, and if the income is not properly used, then the CEO shouldn't get paid (or proportionally less).
ReplyDeleteI had read about the high salary of the Pres. of the US Committee and felt it was shameful when at the same time we have been saying all along that each penny (i.e. Trick of Treat) will be used for program funding. One should expect some sacrifice from those serving at the top, too.