BBB Wise Giving Report for
Foundation for Children in Need

BBB Wise Giving Report issued June 2010
BBB Wise Giving Report expires December 2011


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Foundation for Children in Need
Address: 800 North Pine Avenue
  Arlington Heights, IL 60004
Phone: 847-670-1145
Web Address: www.fcnindia.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2002, Illinois
Affiliates: None
Stated Purpose: "to provide assistance to the needy children, college students and elderly in the rural villages of India."

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Evaluation Conclusions

               

Foundation for Children in Need (FCN) meets the 20 Standards for Charity Accountability.
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Programs

               

FCN provides food, clean water, clothing, shelter, medical care and education for the poor and elderly; provides scholarships and school supplies for needy and disabled students; constructs schools, boarding homes, and a health care center; provides opportunities for volunteers to work in developing countries; and promotes educational tours to developing countries.

For the fiscal year ended March 31, 2009, FCN's program expenses were:

  
Program services 466,977
Total Program Expenses: $466,977
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Sponsorship

               

FCN has two main sponsorship programs:  1) hostel based (boarding home) where children are brought from different villages and are provided with education, food, clothing and medical care; and 2) student based that involves disbursement of funds directly to the students with FCN staff and social workers guiding them to use the funds properly.

Sponsors will receive letters during the summer and at Christmas and a photo of each sponsored child/student/elderly person.

Sponsorship payments are $60/quarter, $120 semi-annually or $240 annually. Sponsors are asked not to send gift articles but rather to send a check.
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Governance

               

Chief Executive : Tom Chitta, President/CEO
Compensation*:
 $16,758

Chair of the Board: Jo Anne Mullen-Muhr
Chair's Profession / Business Affiliation: Administrator

Board Size: 7

Paid Staff Size: 4

*April 1, 2008 - March 31, 2009 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, Internet appeals, and church appeals.
Fund raising costs were 3% of related contributions. (Related contributions, which totaled $613,833, 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 FCN's audited financial statements for the fiscal year ended March 31, 2009.

Source of Funds  
Contributions and appeals 613,833
Interest income 10,091
Total Income $623,924


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Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: 4%  Administrative: 3% 

Total income   $623,924
  Program expenses $466,977
  Fund raising expenses 19,509
  Administrative expenses 16,989
 
Total expenses   $503,475
Income in Excess of Expenses   120,449
Beginning net assets   192,877
Ending net assets   313,326
Total liabilities  
Total assets   $313,326


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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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