Regarding Standard 8: Because Discovery Green Conservancy's actual programs related to the park itself have been in operation for less than one year (officially opened to the public in April 2008), it spent less on program services than the 65% cut-off that the Better Business Bureau permits. However, because new charities must spend higher amounts on fund raising and administration during their first year of operation, the Better Business Bureau will permit this charity to meet this standard for its initial review. The Better Business Bureau allows this exception up to one year and will reconsider the evaluation of this standard when the current report expires in December 2009.
Regarding Standard 10: When Discovery Green Conservancy submitted initial information to the Better Business Bureau, their responses were based on the most recently completed audited financial statements for FY 2007, which ended on June 30, 2007. This period coincided with the latter part of the capital building campaign, which ultimately raised more than $54 million to build the park, and the initial portion of the construction phase, which commenced in October 2007.
At the end of FY 2007, the unrestricted net assets totaled $23,623,837 of which $14,916,277 was in cash and cash equivalents at year end. Their latest audited financial reports, recently completed and approved by their board at the October meeting, show that unrestricted net assets at the end of FY 2008 are $11,875,558 with just $148,079 in cash and cash equivalent at year end. This difference is due to the expenditure of capital funds on park construction during FY 2008. The Better Business Bureau, therefore, grants an exception lasting one year in regards to this standard.