Financial Information

We take seriously our role as a trusted community leader. United Way of East Central Iowa has a long and proud tradition of high standards of accountability. We are an independent organization governed by local volunteers to help people in our communities. This page shares our publicly available financial information.

We have a stringent system of checks and balances to make certain we operate in a sound fiscal manner. Our operating budget and community funding decisions are reviewed and approved by several volunteer committees, including the board of directors. Independent CPA firm McGladrey & Pullen, LLP conducts our annual audit, which is then reviewed by the volunteer audit committee and approved by the board of directors. We follow the American Institute of Certified Public Accountants’ Audit and Accounting Guide for Not-for-Profit Organizations to ensure financial statements conform with Generally Accepted Accounting Principles. Information about how donations are used is openly provided and we welcome questions regarding these topics.

United Way of East Central Iowa 990 FY 2013

Financial Questions

How Does United Way of East Central Iowa Calculate Campaign Results?
The United Way of East Central Iowa does not count as contributions the value of volunteers’ time. Further, the United Way of East Central Iowa does not count in its revenue or campaign total funds that are raised outside of our service area by companies that are headquartered here. Those funds are simply processed and forwarded. United Way does include in its campaign results dollars raised in full through the various campaigns conducted in our service area.

What is United Way of East Central Iowa’s Overhead?
No one number or percentage can define operating efficiency for charitable organizations. However, Charity Navigator, an independent charity evaluator, who works to evaluate the financial health of America’s largest charities, states that the most efficient charities spend less than 25% on fundraising and administrative fees.
United Way of East Central Iowa is proud that our overhead has consistently been between 10% and 13% over the past several years according to the calculation mandated by United Way of America.

What is United Way of East Central Iowa’s Provision for Non-Payment of Pledges?
Whether because of corporate restructuring and downsizing, loss of employment, or any other reason, employees and companies who make commitments in the fall sometimes cannot maintain those commitments through the completion of the pledge payment cycle. Our experience is that we will lose, on average, 4% of those funds annually. We withhold that amount from the distributions we make to local programs so we do not expend more than we collect annually.

Prior documents

FY 2012 990

FY 2011 990

 

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United Way of East Central Iowa 317 7th Avenue SE, Suite 401 Cedar Rapids, IA 52401 Phone: (319) 398-5372 Fax: (319) 398-5381