YMCA of Greater Richmond does not meet the following 4 Standards for Charity Accountability:
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.
YMCA of Greater Richmond 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.
YMCA of Greater Richmond does not meet this Standard because:
- It has not completed an effectiveness assessment in the last two years.
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.
YMCA of Greater Richmond does not meet this Standard because, when the organization provided 2020 budget information, it indicated that the budget:
- Did not identify total projected program service expenses.
- Did not break expenses down by major progam category.
- Did not identify total projected fund raising expenses.
- Did not identify total projected administrative expenses.
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.
YMCA of Greater Richmond does not meet this Standard because the privacy policy on its website, https://www.ymcarichmond.org, does not indicate:
- What security measures are in place to protect personal information that is collected.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability:
15
YMCA of Greater Richmond meets the remaining 15 Standards for Charity Accountability.
YMCA of Greater Richmond promotes health, learning, and leadership equity in the Richmond area. The organization reports that the Open to All financial assistance program serves over 197,000 members annually through income-based membership and program fees. The youth development programs engage youth during the high-risk out-of-school-time hours, fostering academic achievement, leadership skills, and social-emotional development. YMCA of Greater Richmond also engages the community in a variety of wellness programs and activities, including YMCA diabetes prevention and control programs, and YMCA Aging Strong healthy aging program.
For the year ended December 31, 2018, YMCA of Greater Richmond's program expenses were:
| Healthy living |
$19,218,352 |
| Youth development |
$13,797,312 |
| Social responsibility |
$5,281,691 |
| Total Program Expenses: |
$38,297,355 |
*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, Membership appeals, Planned giving arrangements, Telephone appeals
Fundraising costs were 26% of related contributions. (Related contributions, which totaled $5,779,113, 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 YMCA of Greater Richmond's audited financial statements for the year ended December 31, 2018.
| Source of Funds |
| Membership Fees |
$24,598,716 |
| Program fees |
$14,472,405 |
| Contrubitions |
$4,530,928 |
| Capital campaigns contributions |
$1,032,845 |
| Other |
$244,472 |
| United Way services |
$200,943 |
| Facility rentals |
$148,883 |
| Merchandise sales |
$36,017 |
| Gain on sales of fixed assets |
$28,361 |
| Endowments |
$14,397 |
| Investment loss |
($520,724) |
| Total Income |
$44,787,243 |
- Programs: 86%
- Administrative: 11%
- Fundraising: 3%
- Other: Less than 1%
| Total Income |
$44,787,243 |
| Program expenses |
$38,297,355 |
| Fundraising expenses |
$1,500,885 |
| Administrative expenses |
$4,497,953 |
| Other expenses |
$439,903 |
| Total expenses: |
$44,736,096 |
| Income in Excess of Expenses |
$51,147 |
| Beginning Net Assets |
$57,896,420 |
| Other Changes In Net Assets |
$0 |
| Ending Net Assets |
$57,987,117 |
| Total Liabilities |
$31,949,286 |
| Total Assets |
$89,936,403 |
Note 1: As reported by the organization, during 2018, YMCA of Greater Richmond received in-kind contributions of $87,335, including backpacks ($75,775), landscaping services ($7,977), equipment ($2,558) and food ($1,025).
Note 2: In the financial statement above, “other expenses” refers to unallocated payments to the national organization ($420,128) and amortization of prior service cost related to postretirement benefit obligation ($19,775).