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.
VFUF does not meet this Standard because:
- The organization's 2010 IRS Form 990 EZ did not include a detailed breakdown of functional expenses.