The Pink Fund does not meet the following 3 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.
TPF 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.
TPF does not meet this Standard because:
- The organization did not produce a written report outlining the results of its February 2020 effectiveness assessment.
Standard 16 (Annual Report)
Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
TPF does not meet this Standard because the 2018 annual report did not include:
- A roster of the board of directors.
- 2018 financials.
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:
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17
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The Pink Fund meets the remaining 13 Standards for Charity Accountability.
The Pink Fund (TPF) provides 90-day non-medical cost-of-living expenses to breast cancer patients in active treatment, so they can focus on healing, raising their families, and returning to the workplace. The organization reports that its financial bridge program makes bill payments on behalf of breast cancer patients in active treatment for housing, transportation, utilities, and health insurance premiums. The bill payments are made for up to 90 days, with a cap of $3,000, and are sent directly to patients' creditors. TPF states that the bill payments mitigate the financial toll that breast cancer has on patients and their families as they experience a loss of income during treatment. In 2018, the organization reports that it distributed $686,000 in financial aid, made 1,851 bill payments, and funded a total of 332 breast cancer patients.
For the year ended June 30, 2019, The Pink Fund's program expenses were:
| Program services |
$975,586 |
| Total Program Expenses: |
$975,586 |
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Chief Executive
Molly MacDonald, Founder and Chief Executive Officer
-
Compensation*
$96,900
-
Chair of the Board
Molly MacDonald
-
Chair's Profession / Business Affiliation
Founder and Chief Executive Officer, The Pink Fund
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Board Size
5
-
Paid Staff Size
6
*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, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 7% of related contributions. (Related contributions, which totaled $2,217,809, 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 The Pink Fund's audited financial statements for the year ended June 30, 2019.
| Source of Funds |
| Individual contributions |
$1,241,009 |
| Corporate contributions |
$700,246 |
| Foundation contributions |
$204,812 |
| Special events, net |
$70,176 |
| Investment income |
$6,366 |
| Realized and unrealized gains |
$5,463 |
| Donated assets |
$1,566 |
| Total Income |
$2,229,638 |
- Programs: 83%
- Fundraising: 13%
- Administrative: 4%
| Total Income |
$2,229,638 |
| Program expenses |
$975,586 |
| Fundraising expenses |
$157,392 |
| Administrative expenses |
$50,272 |
| Other expenses |
$0 |
| Total expenses: |
$1,183,250 |
| Income in Excess of Expenses |
$1,046,388 |
| Beginning Net Assets |
$419,926 |
| Other Changes In Net Assets |
$0 |
| Ending Net Assets |
$1,466,314 |
| Total Liabilities |
$66,608 |
| Total Assets |
$1,532,922 |
Note: According to the organization's audited financial statements for the year ended June 30, 2019, TPF received in-kind gifts totaling $1,566 in the form of office equipment.