| CLEARWATER,
FL— Charity Works, Inc., a multi-state public charity dedicated
to promoting charitable giving and serving as an intermediary
between donors and vendors to acquire needed goods and services at
the lowest price for charitable nonprofit organizations, announced
today that it is offering to conduct free purchasing audits for
tax-exempt organizations located anywhere in the United States.
Chris Renfrow, President & CEO of Charity Works, Inc. [Clearwater, FL] states, "Most charitable nonprofit
organizations are so focused on providing program services and
carrying out fundraising activities that they do not always pay
sufficient attention to obtaining the absolute best value on the
products and services they need." According to recent estimates,
the nonprofit sector spends approximately $46 billion on goods and
services each year, yet there is no measure of whether this revenue
is used to best advantage. CharityWorks estimates over $5 billion
of annual spending is lost in over charges and inadequate purchases
made by these social enterprises.
A growing public outcry about the financial
practices of nonprofits has resulted in the posting of their
detailed federal tax returns on the Internet. Even though industry
experts at the National Center for Charitable Statistics tout the
move as an unparalleled way for potential donors to see how
charitable contributions are being spent, the fact remains; there
is no formal accountability for the efficiency or effectiveness of
spending by the nonprofit sector.
Expanding public accountability beyond the IRS
Form 990 tax returns themselves will not only enlighten those who
want to make charitable contributions, but would also improve the
actual spending practices (i.e. outcomes) of the over 650,000
charitable nonprofits that need to make the most of their limited
resources.
Renfrow, a CPA and Certified Fraud Examiner,
says, "The opportunity to bring donors and vendors together to aid
social enterprises is in everyone’s best interest." The audit
services offered by CharityWorks will give each nonprofit agency a
sense of direction and much needed opportunity to work as a
"collective" focusing on the fiduciary duty that each owes to their
donors. That duty is to stretch every charitable dollar received to
the maximum.
|
|
Improving spending
practices is possible by leveraging donor-vendor relationships. One
cost-effective way nonprofit agencies could achieve real purchasing
power is by participating in CharityWorks’ Accounts Payable and
Vendor Management Audit and its comprehensive savings program
called Charitable Alliance Network (CAN). The CAN program
specializes in identifying common interests between business and
philanthropy. As an intermediary, CharityWorks generates significant savings on a broad range of goods and
services that are used by nonprofit agencies. By convincing vendors
to use the sales process and their supply-channel influences,
additional tangible value is created for the charities they serve.
One benefit that CharityWorks offers vendors is an independent
verification of the value that each company’s discounts and other
non-cash resources represent to qualified recipient charities.
There are many non-cash resources that tend to be overlooked by
businesses, particularly when it comes to reporting on their
corporate contribution programs.
To participate in the free purchasing audit or to
obtain additional information about CharityWorks and its other
management advisory services, please e-mail your request to Chris
Renfrow at
crenfrow@charityworks.org or call toll free 1.877.728.3294.
About Charity Works, Inc.
Headquartered in Clearwater, Florida, Charity Works, Inc. is a 501(c)(3) tax-exempt organization that promotes
charitable giving and provides FREE purchasing consultation and
management advisory services to qualified charitable organizations
throughout the country. Through innovative programs like the
Charitable Alliance Network (CAN), CharityWorks provides
one-of-a-kind successful solutions that create beneficial and
strategic alliances among donors, vendors and nonprofits.
With the CAN program, CharityWorks is applying
its unique model of philanthropy to create alliances, systems and
other solutions that generate value for nonprofit agencies. Formed
in 1996, CharityWorks lists among its nonprofit clients Alliance
for Children & Families, Abilities of Florida, Inc., Pinellas
Association for Retarded Citizens (PARC), and others. CharityWorks
can be reached by calling 1.877.728.3294 or by visiting its Web
site,
www.charityworks.org.
Back to News & Articles
|
FOR IMMEDIATE RELEASE--January 18, 2000
