Standard 12: Detailed Functional Breakdown of Expenses - Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fund raising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.
Hermann Park Conservancy does not meet this Standard because:
- Hermann Park Conservancy’s June 30, 2013 audited financial statements did not include a functional breakdown of expenses. The Better Business Bureau currently requires this functional breakdown for all charities in both their audits and IRS Form 990s.