|Preservation Foundation of the Lake County Forest Preserves does not meet the following Standard for Charity Accountability.
Standard 8: Program Service Expense Ratio - Spend at least 65% of its total expenses on program activities.
Preservation Foundation of the Lake County Forest Preserves does not meet this Standard because:
- According to the its audited financial statements for the fiscal year ended June 30, 2013, the organization spent $120,982 or 38% of its total expenses ($319,044) on program service activities.
This organization provided the following explanation:
- "In each fiscal year, the sum of program service activities in the audited financial statement equals the sum of funds transferred to the Forest Preserve District in support of the projects for which the Foundation raises funds. The operating surplus in a fiscal year is the sum of funds that had not yet been transferred at the end of that particular fiscal year, due to the timing of transfers to the Forest Preserve. Additionally, the Foundation often raises funds for long-term capital or special projects, and those funds are held in interest-bearing accounts until the time they are needed by the Forest Preserve District. Therefore, the amount expended on program activities in any given year varies because of circumstances out of the Foundation’s control, while administration and fundraising expenses remains constant. Comparing fundraising and administrative costs to total amount raised in a given year gives a more accurate picture of the costs per dollar raised for the organization. In the fiscal year ending June 30, 2013, the total dollars raised was $584,230."
|Preservation Foundation of the Lake County Forest Preserves meets the remaining 19 Standards for Charity Accountability.