Better Business Bureau Report for
Golden Apple Foundation for Excellence in Teaching

Better Business Bureau Report issued April 2013
Better Business Bureau Report expires April 2015


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Golden Apple Foundation for Excellence in Teaching
Address: 8 South Michigan Ave.
Suite 700
  Chicago, IL 60603
Phone: 312-407-0006
Web Address: www.goldenapple.org
Also known as:Golden Apple Foundation
Golden Apple
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Better Business Bureau Comments

Year, State Incorporated: 1985, Illinois
Affiliates: None
Stated Purpose: None

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Evaluation Conclusions

              

Golden Apple Foundation for Excellence in Teaching does not meet the following Standard for Charity Accountability.

Standard 11: Financial Statements - Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $500,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $500,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.

Golden Apple Foundation for Excellence in Teaching does not meet this Standard because:

  • It states it does not have audited financial statements for the past fiscal year.
In addition, the BBB of Chicago & Northern Illinois requested but did not receive complete information on the organization’s governance and oversight, effectiveness measures, finances, solicitation materials, annual report, donor privacy, and fundraising disclosures and is unable to verify the organization's compliance with the following 17Standards for Charity Accountability: 1, 2, 4, 5, 6, 7, 8, 9, 12, 13, 14, 15, 16, 17, 18, 19, and 20.
Golden Apple Foundation for Excellence in Teaching meets the remaining Standard for Charity Accountability. Please note that as of the date of this report 1 out of the 20Standards for Charity Accountability are not currently effective. As a result, this standard has not been applied to this evaluation.
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Programs

              




  
Program Expenses 4,069,795
Total Program Expenses: $4,069,795
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Governance

              

Chief Executive :
Compensation*: 

Chair of the Board:
Chair's Profession / Business Affiliation:

Board Size:

Paid Staff Size:

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:


Fund raising costs were 6% of related contributions. (Related contributions, which totaled $4,138,320, are donations received as a result of fund raising activities.)
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Tax Status

              

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Financial

              


Source of Funds  
Contributions and grants 4,138,320
Other revenue 280,001
Investment income 200,864
Total Income $4,619,185


chart



Uses of Funds as a % of Total Expenses

Programs: 92%  Fund Raising: 5%  Administrative: 3% 

Total income $4,619,185
Program expenses $4,069,795
Fund raising expenses 243,547
Administrative expenses 144,085
Total expenses $4,457,427
Income in Excess of Expenses 161,758
Beginning net assets 6,180,320
Ending net assets 6,153,118
Total liabilities 2,486,934
Total assets $6,153,118


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