Limbs for Life Foundation does not meet the following 1 Standards for Charity Accountability:
Standard 10 (Ending Net Assets)
Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.
LFL does not meet this Standard because:
- According to its audited financial statements for the year ending December 31, 2018, the organization's total unrestricted net assets were $13,486,889, or 11 times the charity's total expenses of $1,206,325.
Limbs for Life Foundation meets the remaining 19 Standards for Charity Accountability.
Limbs for Life Foundation (LFL) partners with prosthetic professionals to provide prosthetic care for individuals who cannot afford it. The organization also accepts donated limbs and redistributes prosthetic components around the world. Lastly, LFL provides information, referrals, and social networks to amputees. In 2019, the organization reports that 213 people received limbs and more than 5,500 prosthetic parts were donated to LFL for redistribution.
For the year ended December 31, 2018, Limbs for Life Foundation's program expenses were:
Patient assistance program |
$1,022,015 |
Community education and volunteer recruitment |
$490 |
Total Program Expenses: |
$1,022,505 |
-
Chief Executive
Lucy Fraser, Executive Director
-
Compensation*
$92,112
-
Chair of the Board
Kristin Colby
-
Chair's Profession / Business Affiliation
Event Planner, Eventful Marketer
-
Board Size
10
-
Paid Staff Size
5
*2018 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements
Fundraising costs were 24% of related contributions. (Related contributions, which totaled $570,612, are donations received as a result of fundraising activities.)
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.
The following information is based on Limbs for Life Foundation's audited financial statements for the year ended December 31, 2018.
Source of Funds |
Contributions |
$207,574 |
Fund raisers |
$134,038 |
Gifts in kind |
$115,550 |
Grants and sponsorships |
$113,450 |
Interest and investment income |
$28,631 |
Total Income |
$599,243 |
- Programs: 85%
- Fundraising: 12%
- Administrative: 3%
Total Income |
$599,243 |
Program expenses |
$1,022,505 |
Fundraising expenses |
$137,204 |
Administrative expenses |
$46,616 |
Other expenses |
$0 |
Total expenses: |
$1,206,325 |
Income in Excess of Expenses |
$-607,082 |
Beginning Net Assets |
$14,205,554 |
Other Changes In Net Assets |
$-331 |
Ending Net Assets |
$13,598,141 |
Total Liabilities |
$1,471 |
Total Assets |
$13,599,612 |
Note 1: According to the organization's audited financial statements for the year ended December 31, 2018, LFL received in-kind contributions totaling $115,550 in the form of prosthetic parts.
Note 2: As noted in the above financial section, "other changes in net assets" refers to depcreciation and accounting adjustments that pertained to the prior year.