Education Support For Charity Organization Around Woodbridge

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Gumax Global Empowerment’s role is to encourage transparency and accountability and assuring Donations are distributed to the charitable organization of the Donors choice(organization must be added to our network before any distribution, and that all charitable organizations listed in the GGE meet strict eligibility requirements on an annual basis. All charity applications are reviewed either by GGE or a third party, as applicable. These applications contain the eligibility and public accountability criteria that must be met in order to participate in the GGE

These criteria are designed to ensure donors that only legitimate, accountable, and responsible charitable organizations are admitted to the GGE. These criteria include, but are not limited to, a demonstration by the applicant that it:

• is an IRS determined tax-exempt charity;
• provided to the IRS a Form 990, which is an informational tax return for non-profits;
• provided real services, benefits, assistance, or program activities; and
• has an active and responsible Board of Directors, in which a majority of its Board members serve without compensation and without a conflict of interest.

What is the role of the IRS regarding nonprofit organizations? The IRS is responsible for reviewing an organization’s application to qualify as an organization exempt from Federal taxes (a nonprofit) because of the type of activities it conducts in the interest of public welfare. The IRS also is responsible for conducting examinations of nonprofit organizations and to determine any liability for tax penalties, or revocation of tax exempt status. For more information about the IRS’s oversight of exempt organizations, visit www.irs.gov/charities/index.html.

Learning more about the Charity organization’s financial Report

Federal law requires the charity to send you a copy of its IRS Form 990 for a reasonable charge, upon request. In addition, you can request a copy of the organization’s Annual Report. Prevailing industry standards recommend that the Annual Report include:

• The organization’s mission statement,
• a summary of the past year’s program service accomplishments,
• a roster of the officers and members of the board of directors, and
• financial information that includes:
• total income in the past fiscal year;
• Expenses in the same program, fund raising and administrative categories as in
  the financial statements; and
• Net assets.

Charities with annual revenue above $25,000 must file an annual information return to the IRS known as the IRS Form 990 (although some faith-based organizations are not required to file). This document can contain useful information about the organization’s program, its staff and board of directors, and its finances. To access the IRS Form 990 we recommend you search the IRS database of exempt organizations (www.irs.gov/taxstats/charitablestats/article/0, id=97186, 00.html). In addition, you may also request copies of the IRS Form 990 from the State Attorney General’s Registry of Charitable Organizations. You can reach the state office corresponding to the organization by contacting the National Association of State Charity Officials (www.nasconet.org). You may also contact the Guidestar organization and obtain online copies of the most recent IRS Form 990 and, for a fee, more detailed information on the organization: www.guidestar.org.

The vast majorities of charities participating in the GGE provide an internet address and/or telephone number. If you have trouble contacting the organization, please contact your local GGE agent or 888-99 GUMAX.

Understanding the information that is on the Charity organization’s IRS form 990

The IRS Form 990 is an informational return. It contains a wealth of information regarding the organization. The first page provides information on the revenues and expenses of the organization. The remaining pages provide details about the information on the first page, plus information regarding the organization’s management. Some examples:

• Part I, lines 13, 14, and 15 show the total amounts that the organization spent on program services; management and general; and fundraising, respectively. Part II provides detailed information regarding the types of costs incurred (e.g. payroll, telephone, etc.) for each of these categories. Part III details how much of the program costs were spent on each specific program.
• Part IV is the organization’s balance sheet. Organizations are required to show if they have made loans to certain related parties (line 50) or have received loans from certain related parties (line 63).
• Part V provides a listing of the officers, directors, and key employees along with information regarding their compensation. This section has been expanded to include information on transactions with former officers, etc. (Part V-B).
• Part VI, line 82a & b – shows the value of donated services the organization has received. This can sometimes be a substantial amount, but it is not included on Part I.

These are just a few examples of the types of information that can be obtained through the IRS Form 990. For more detailed information on the IRS Form 990, please check the IRS website: www.irs.gov.

Where else can I get information about the organizations in the GGE?

A number of organizations make available information for donors about the charities they evaluate or rate. Known as charity”watchdog”organizations, these can help donors make responsible choices when donating. However, as suggested in a recent report about the organizations and publications that rate nonprofit organizations, because approaches and criteria to rating an organization may vary, it is important that donors fully understand the information they are receiving from such ratings and rankings so they can make well-informed judgments and not be misled and/misinformed.

Following is website information for each of the leading nonprofit organization rating services:

• Better Business Bureau’s Wise Giving Alliance
• Standards of Excellence Institute
• American Institute of Philanthropy
• Charity Navigator

SERVICES/WHAT WE DO:

Gumax Global Empowerment screens all GGE participating charities against the IRS Master File of Exempt organizations to ensure that they are duly registered as 501(c) (3) charities to which donor contributions are tax deductible. In addition, all GGE charities are reviewed annually for evidence that they are providing services on a local, state, national, or international level, as well as public and financial accountability. The GGE also reviews and evaluates (if requested by donor) whether an organization uses its donations efficiently. Each individual donor may further evaluate this type of information. However, the Director of GGE has the authority to reject any organization that either has not taken corrective action in response to a sanction, or whose financial controls do not meet the required audit

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