McGovern elected to not take incentive bonus for calendar year 2020 to enable the Red Cross to put additional funds to use for other charitable purposes in light of the global pandemic and its impact on the country and world. Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7): The American National Red Cross continues to monitor and assess the implications to its business, and take necessary actions to mitigate potential adverse consequences."Īccording to the American National Red Cross tax filing for the fiscal year ended Jre: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):
The Organization has implemented extensive measures to protect the health and safety of its employees, volunteers, clients and communities and continues to adapt day to day operations and processes to safely carry out its mission. "In March 2020, the World Health Organization declared the novel coronavirus (COVID-19) a pandemic impacting social interaction, travel, economies, and financial markets.
The $38 million and $34 million recorded in 20, respectively, represent primarily volunteer efforts in support of disaster services and services to the Armed Forces."Īccording to The American National Red Cross consolidated audit of June 30, 2021 (Note 1(a) re: Organization and Basis of Presentation): The Organization recorded contributed services revenue and related expense of approximately $38 million. ".Contributed services for the year ended Jinclude the services of approximately 9,562 volunteers. "Īccording to The American National Red Cross audited Consolidated Statement of Activities for the year ended June 30, 2021, the Red Cross received donated in-kind services and materials on which it placed a total value of approximately $55,096,000.Īccording to the Red Cross consolidated audit of J(Note 1(o) re: Contributed Services and Materials): All significant intra-organizational accounts and transactions have been eliminated. Also, included in the consolidated financial statements are the net assets and operations of Boardman Indemnity Ltd., a 100% owned captive insurance subsidiary (through June 30, 2021) and ARC Receivables Company, LLC, a wholly owned bankruptcy-remote special purpose entity. ".The Organization has national and international programs that are conducted by its headquarters, biomedical services, and chartered local chapters. These entities are described in the fiscal 2021 consolidated audit (Note 1(a) re: Organization and Basis of Presentation) as follows: CharityWatch's rating of the American Red Cross includes the financial activities of the entities consolidated in the Red Cross audited financial statements for the fiscal year ended of June 30, 2021.
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