Discover the Perfect Remittance Slip Example for NPOs that Simplifies Your Donation Process

Remittance slip example for NPOs

in this video i'm just going to give you a little bit of an introduction to how you can research different non-profits and their form 990 documents so as an example here on propublica's nonprofit explorer i'm going to search for khan academy just click khan academy there and then you can see all of your tax filings for their form 990s so of course these nonprofits don't necessarily pay taxes but these are information returns as it says here that can give you information on just how the nonprofit spends its money how the nonprofit gets money their assets liabilities executive compensation and all sorts of things like that so we're going to go ahead and click on the most recent year click full filing and then you can get the full text of their most recent form 990 document so here at the top you'll see the name all sorts of different information like that what their purpose is but i think probably if you're looking at this what you'd be interested to see first is exactly their revenue so on line 12 you'll be able to see their total revenue for the current year which is 46 million and then on line 18 you'll be able to see total expenses which is 54 million which shows that they're in a deficit of about 8 million and then a little bit down here you can see their assets liabilities net assets so that's just basically the overview of their financial status if you go down a little bit to part 7 section a you'll see a list of people on their board their directors their executives and just overall their highest paid employees so see over here at the top sal khan working 40 plus 1 41 hours a week getting paid 839 as a sort of base compensation an additional 34 000 so that's something like 870 roughly which sounds very high but i wouldn't necessarily say they're a bad non-profit for that or financially irresponsible because first of all they have a lot of revenue and this is a small portion of that second sal khan's opportunity cost working at a non-profit is pretty high since he would have worked in hedge funds and made millions of dollars per year so him earning 870 000 per year while it's pretty high i wouldn't say it's unjustifiable so just going on you can see all the different salaries here for the highest paid employees and you'll notice they have a lot more employees than this but what this section shows you is basically their highest paid employees and especially key employees and executives so if you go down that was section a here's section b independent contractors you can see just the different businesses they paid contracted out with or for different services so you can see at the top they paid this iwork global firm 1.4 million in consulting and a couple others down here so the rest of this document you're going to be able to see more of a breakdown what exactly they're spending their money on and what that's all made up of so you can see here just as an example they spent 730 000 on travel spent 130 on insurance and then you can just see their total down here again which was up earlier too and there's this additional data section different supporting organizations a lot of stuff that isn't quite as relevant and a lot of this isn't really filled out because they might not have to but that's essentially how you go through a form 990 at the top as a recap you got the revenue expenses assets liabilities you go down a little bit to part seven and you'll see executive compensation as well as independent contractors and overall you just can look through it to see exactly how much they're making how much they're spending whether that looks reasonable and you might want to donate to a non-profit so hopefully you found this video interesting in case you want to research a non-profit and let me know if you have any other videos you'd like me to make on this topic