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 $250,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $250,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $100,000, an internally produced, complete financial statement is sufficient to meet this standard.
Bridges To Life does not meet this Standard because:
- It states it does not have audited financial statements for the past fiscal year.
Charity Response: Bridges to Life plans its first official audit in early 2012 for the 2011 fiscal year.