Having completed our first calendar year at the end of 2014, ANIMALS 24-7 has just filed our first IRS Form 990, using Form 990ez because our gross receipts were less than $200,000 and our net assets are less than $500,000. ANIMALS 24-7 also filed the requisite Schedules A, B, and O, of which Schedules A and O are posted here along with Form 990ez; ScheduleB is a confidential not-for-public-disclosure document identifying high donors to the IRS.
The ANIMALS 24-7 filing of Form 990ez shows that we just barely broke even in 2014, by reason of not paying compensation to full-time volunteers Merritt & Beth Clifton, editor and social media/photo editor. ANIMALS 24-7 maintained a very favorable ratio of 69% program expense to 31% combined fundraising and administration expense; the Wise Giving Alliance and other charity watchdogs recommend a ratio of at least 65%/35%, rarely achieved by first-year start-up organizations.
ANIMALS 24-7 debuted with operating capital consisting only of founder Merritt Clifton’s personal credit, and may appear to have been much more affluent at year’s end than we really are because toward the end of the year he used personal assets to create a dedicated fund to guarantee health insurance to full-time staff.
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Jamaka Petzak says
Now THAT’s transparency — and a very egalitarian workplace!