BBB Wise Giving Report for
Students in Free Enterprise

BBB Wise Giving Report issued October 2010
BBB Wise Giving Report expires October 2012


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...


Find out more about this charity:

Back To Top

Charity Contact Information

Name: Students in Free Enterprise
Address: 1959 East Kerr Street
  Springfield, MO 65803-4775
Phone: 417-831-9505
Web Address: www.sife.org
Back To Top

BBB Wise Giving Alliance Comments

Year, State Incorporated: 1975, Texas
Affiliates: SIFE programs in 40 countries

Stated Purpose: "to bring together the top leaders of today and tomorrow to create a better, more sustainable world through the positive power of business."

Back To Top

Evaluation Conclusions

              

Students in Free Enterprise (SIFE) does not meet the following 7 Standards for Charity Accountability.

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.

SIFE does not meet this Standard because:

The board of directors met once 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.

SIFE 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 7: Board Approval of Written Report on Effectiveness - Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

SIFE does not meet this Standard because:

  • It did not produce a written report outlining the results of its most recent effectiveness assessment.

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.

SIFE does not meet this Standard because, in the organization's financial statements, the detailed functional breakdown of expenses:

  • Was not included. A detailed functional breakdown shows expenses by natural classification (e.g., salaries, travel, postage, etc.) and indicates what portion of these expenses was allocated to program, fund raising, and administrative activities).

Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

SIFE does not meet this Standard because, when the organization provided budget information, it indicated that the budget:

  • Did not identify total projected program service expenses.
  • Did not identify total projected fund raising expenses.
  • Did not identify total projected administrative expenses.

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.

SIFE does not meet this standard because:

  • The organization states it does not have an annual report covering activities conducted in the past year.

Standard 18: Privacy for Written Appeals & Internet Privacy - Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.

SIFE does not meet this Standard because the privacy policy on this website, www.sife.org does not indicate:

  • How to contact the charity to review personal information that is collected and request corrections.
  • How to inform the charity that the visitor does not want his/her information shared with others.
SIFE meets the remaining 13 Standards for Charity Accountability.
Back To Top

Programs

              

SIFE works with leaders in business and higher education to mobilize university students to make a difference in their communities while developing the skills to become socially responsible business leaders. Participating students form teams on their campuses and apply business concepts to develop outreach projects that are aimed at improving the quality of life and standard of living of people in need. An annual series of regional and national competitions provides a forum for the teams to present the results of their projects, and to be evaluated by business leaders serving as judges. National champion teams advance to the prestigious SIFE World Cup. In addition to the community focus of the program, SIFE’s leadership and career initiatives create opportunities for learning and exchange among the participants as well as the placement of students and alumni with companies in search of emerging talent.

For the fiscal year ended August 31, 2009, SIFE's program expenses were:

  
Program services 10,269,546
Total Program Expenses: $10,269,546
Back To Top

Governance

              

Chief Executive : Alvin Rohrs, SIFE President and CEO
Compensation*:
$208,931

Chair of the Board: Joel Connor
Chair's Profession / Business Affiliation: Chairman and CEO, Bellisio Foods, Inc

Board Size: 24

Paid Staff Size: 100

*September 1, 2008 - August 31, 2009 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Back To Top

Fund Raising

              

Method(s) Used:

Special events, grant proposals, and planned giving.
Fund raising costs were 11% of related contributions. (Related contributions, which totaled $11,287,367, are donations received as a result of fund raising activities.)
Back To Top

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.
Back To Top

Financial

              

The following information is based on SIFE's audited financial statements for the fiscal year ended August 31, 2009.

Source of Funds  
Contributions 10,560,351
In-kind contributions 727,016
Other 31,409
Investment return -115,291
Total Income $11,203,485


chart



Uses of Funds as a % of Total Expenses

Programs: 84%  Fund Raising: 10%  Administrative: 6%  Other Expenses: Less than 1%

Total income   $11,203,485
  Program expenses $10,269,546
  Fund raising expenses 1,278,974
  Administrative expenses 691,970
  Other Expenses 25,500
Total expenses   $12,265,990
Expenses in Excess of Income   (1,062,505)
Beginning net assets   12,140,142
Ending net assets   11,077,637
Total liabilities   4,142,436
Total assets   $15,220,073

Note 1: In the above financial summary, "other expenses" represents SIFE's bad debt allowance.

Note 2: According to SIFE'S audited financial statements for the fiscal year ended August 31, 2009, the organization received $727,016 in in-kind donations including advertising ($718,340)and miscellaneous donations ($8,676).

Back To Top

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.

Send to:



What is an Accredited Charity