WAIF 2013 Financials

As a current WAIF Tails subscriber, we wanted to share with you that our 2013 audited financials have been posted on our website, along with our 2013 IRS 990. Below provides a summary of our financials for a general overview of our fundraising and expense activities in 2013.

Revenue Source

– Contracts include both Island County and City of Oak Harbor
– Donations include funds released from restrictions (having met requirements, see audit notes).

Functional Expenses

– Fundraising includes Capital Campaign expenses.
– Thrift Store expenses are covered by their own generated revenue. Net of $97,181 used to cover sheltering and other program expenses.
– Sheltering programs include Coupeville Shelter, Oak Harbor Holding Facility, Oak Harbor Cat Cottage, and Freeland Cat Cottage. Also includes Spay/Neuter and Outreach programming.

WAIF 2013 Payroll

Percent of Total Payroll Expenses

*Traditional thinking generally indicated an average of 20% for overhead (management and fundraising) as a benchmark for an efficient, well managed nonprofit. Percentage benchmarks are now going away, in favor of Outcomes measuring as an effective tool by which to evaluate nonprofit performance.

In an open letter by the CEO’s of Guidestar, Charity Navigator, and Wise Giving Alliance, “The percent of charity expenses that go to administrative and fundraising costs, commonly referred to as ‘overhead’ is a poor measure of a charity’s performance.” These three national databases for philanthropic information indicate that other factors such as transparency, governance, and results (outcomes) are better measures of performance.

In fact, in this open letter, they state most nonprofits should spend more on overhead. These are important investments that directly affect performance-staff training, planning, evaluation systems, and internal systems of donor database management, volunteer management, of efforts to raise money so they can operate their programs, all add to the efficiency and effectiveness of a nonprofit.

Focus on overhead can create what the Stanford Social Innovation Review has called “The Nonprofit Starvation Cycle” in which nonprofits lose the freedom they need to best serve the population and communities they are trying to serve. The open letter from these national leaders included studies conducted by Indiana University, the Urban Institute, the Bridgespan Group, and others to back up their claim.

Our audited statement for 2013 can be found here.
Our 2013 IRS 990 can be found here.

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