Standard 10: Ending Net Assets - Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.
Cancer Research Foundation does not meet this Standard because:
- According to its audited financial statements for the fiscal year ended March 31, 2016, the organization's total unrestricted net assets were $7,311,131, or 4 times the charity's total expenses of $1,636,757.
Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.
Cancer Research Foundation does not meet this Standard because, when the organization provided budget information, it indicated that the budget:
- Was not produced for the current fiscal year.