Better Business Bureau Report for
SARET Charitable Fund

Better Business Bureau Report issued January 2014
Better Business Bureau Report expires January 2016


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: SARET Charitable Fund
Address: 449 N. Main Street
  Glen Ellyn, IL 60137
Phone: 630-790-4602
Web Address:
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Better Business Bureau Comments

Year, State Incorporated: 1985, Illinois
Affiliates: None
Stated Purpose: To prevent homelessness and hunger in the western suburbs of the Chicago-land area by providing creative emergency economic aid to those in need.

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Evaluation Conclusions

              

SARET Charitable Fund does not meet the following 4 Standards for Charity Accountability.

Standard 1: Oversight of Operations and Staff - Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.

SARET Charitable Fund does not meet this Standard because its board of directors does not:

  • Review the performance of the chief executive officer at least once every two years.
  • Have an approved conflict of interest policy.
  • Have a voting member of the board who is assigned the responsibility of serving as the treasurer. In general, the board’s treasurer helps provide independent oversight of the organization’s finances.

Standard 3: Frequency and Attendance of Board Meetings - An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.

SARET Charitable Fund does not meet this Standard because:

  • The board of directors did not hold a minimum of three evenly spaced meetings in the past fiscal year.

Standard 6: Board Policy on Effectiveness - Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.

SARET Charitable Fund does not meet this Standard because:

  • The board of directors does not have a written policy stating that, at least every two years, an appraisal be done assessing the organization’s performance and effectiveness and determining future actions required to achieve its mission.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

SARET Charitable Fund does not meet this standard because the most recent annual report did not include:

  • A roster of the board of directors
  • Total end of year net assets.
SARET Charitable Fund meets the remaining 16 Standards for Charity Accountability.
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Programs

              

SARET's aid is divided to two population groups in the following areas of aid: housing, utilities, special needs, transportation covering car donations, car repairs, aid with licensing, insurance, and gas and bus vouchers. One fund caters to the general population and the other focuses on persons with health and disability challenges.

For the fiscal year ended June 30, 2013, SARET Charitable Fund's program expenses were:

  
housing Aid 49,491
misc. cash assistance 5,471
charitable assistance 3,905
gas cards and bus vouchers 3,771
Car repairs/moving services 3,726
utilities aid 2,275
food and supplies 1,240
phone help to clients 863
repairs on Fawn court house 590
frontier supplies for clients 325
Total Program Expenses: $71,657
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Governance

              

Chief Executive :
Compensation*: 

Chair of the Board: Chana Bernstein
Chair's Profession / Business Affiliation: Christina Kozich - attorney and Steve McDaniel - attorney

Board Size: 8

Paid Staff Size: 0

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

              

Method(s) Used:

direct mail, membership
Fund raising costs were 1% of related contributions. (Related contributions, which totaled $74,415, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on SARET Charitable Fund's unaudited financial statements for the fiscal year ended June 30, 2013.

Source of Funds  
contributions via checks 68,033
contributions via bank transfer 4,200
chana donation transfer 1,320
Bazaar donations only 862
Total Income $74,415


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Uses of Funds as a % of Total Expenses

Programs: 95%  Fund Raising: 1%  Administrative: 1%  Other Expenses: 3%

Total income $74,415
Program expenses $71,657
Fund raising expenses 526
Administrative expenses 860
Other Expenses 2,218
Total expenses $75,261
Expenses in Excess of Income (846)
Beginning net assets 1,605
Ending net assets 829
Total liabilities
Total assets $829


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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