The National Association for the Advancement of Colored People or (NAACP) was developed during 1909. It is America’s largest and oldest civil rights body. It was created in NYC by African-American and white activists, partly to respond to the unending violence against African-American individuals around the state (NAACP, 2011). During the early decades of the NAACP, its anti-lynching movement was its primary agenda. In the 1950s and 1960s civil rights era, the organization won significant legal victories, and currently, the NAACP has over 2,200 branches approximately half a million members universally.
The group wants to ensure people live in a society where every person has equal rights lacking race-based discrimination. Presently, the NAACP is focused on various issues including inequality in the criminal justice system, healthcare, jobs, and education, including protecting the voting rights (NAACP, 2011). Additionally, the organization has pushed for the elimination of Confederate statues and flags from public property (NAACP, 2011).
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The NAACP receives its money from vendor and membership fees, contributors, and grants. The group’s financial statements trail the accounting standards of not-for-profit bodies (NAACP, 2011). The group is required to account information concerning its financial activities and position in three classes of net assets: permanently restricted, temporarily restricted, and unrestricted (NAACP, 2011).
Once the IRS identifies a business's tax-exempt, public welfare status, following reporting conditions vary. Most religious organizations are not obligated to file yearly information returns, neither are businesses whose total receipts are lower than 25,000 dollars per year, which most identified charities fall into the two sections (GuideStar, n.d). The IRS requires every other company to file an annual report return:
The IRS Form 990, which is for businesses with annual incomes that exceed 100,000 dollars or overall assets, which are worth more than 250,000 dollars (GuideStar, n.d) or The IRS Form 990-EZ, which is for businesses with yearly receipts that do not exceed 100,000 dollars but at least 25,000 dollars as well as total assets lower than 250,000 dollars.
In the 2015 autumn, UNICEF's Trick-or-Treat continued its historical success by motivating approximately one million children to assist in raising nearly 3.8 million dollars. 2015's Trick-or-Treat for UNICEF received additional support from Key Club International and Claire’s, National Partners HSNi Cares, as well as from Promotional Supporters MediaVest and American Airlines (UNICEF, 2016). Additionally, as part of an impressive production partnership, 20th Century Fox utilized the theater release of the movie Peanuts 3D to advertise 2015's Trick-or-Treat for UNICEF, celebrating the beloved Peanuts cast and marking the 65th anniversary of the campaign (UNICEF USA, 2016).
The form 990 is helpful for learning different aspects of a business's finances, mission, and programs. Nonetheless, some cautions are in order, which includes Financial knowledge being more meaningful if seen over a span of several years. Typically, businesses change over a period. A single year's form 990 offers just a snapshot of an extended period (GuideStar, n.d). The law expects companies to avail copies of their three most current 990 filings for a reasonable amount.
Financial indicators, for example, the percentage used on programs and fundraising, are usually misleading. Such signs depend on various factors, including the size and age of a business, and the field as well as kinds of programs it offers. Seemingly, analyzing the financial pointers of diverse organizations does not afford any valuable information to the likely donors (GuideStar, n.d).
The valid test of a public charity is how efficiently and effectively it fulfills its stated objective. The form 990 does not discuss this. The committed donor should seek additional data on foundations, preferably from the foundations themselves (GuideStar, n.d).
References
Understanding the IRS Form 990 . Guidestar.org . Retrieved 9 January 2018, from https://www.guidestar.org/Articles.aspx?path=/rxa/news/articles/2001-older/understanding-the-irs-form-990.aspx
NAACP (2011). CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS’ REPORT retrieved from https://www.naacp.org/wp-content/uploads/2016/04/NAACP%202011%20Consolidated%20Financial%20Startements.pdf
