Unbound meets the 20 Standards for Charity Accountability.
Sponsorship
Unbound requests $40 per month for sponsorship of a child or aging person. Sponsors receive a photo and family background information about their sponsees. Additionally, sponsors receive approximately two letters every year from their sponsee and a greeting at Christmas. Unbound encourages sponsors to visit their sponsored child or aging person and offers them travel opportunities to do so on awareness trips.
Sponsorship funds are primarily used for the sponsored individual. Some benefits available to sponsored individuals, such as food staples, also benefit the sponsored member's family. A number of projects offer livelihood programs that enable the parents of sponsored children to learn skills or trades which can help them earn an income to provide for their families.
Unbound reports using a small group model where the organization brings together families in groups of 15-20 to create a support network where families encourage each other and are accountable to one another.
The organization reports that it does not pool sponsorship money for general community projects. Project staff help identify specific needs of those sponsored by getting to know the family and listening to what they feel they need most to break the cycle of poverty.
According to Unbound, the family background record is maintained at the local level on the child or aging person's family, housing conditions, siblings, parents, health and other pertinent information such as grade in school. Unbound states that sponsors get periodic updates through letters and a listing of the types of benefits and services available to their sponsee is available online. Unbound also sends an updated photo to the sponsor annually.
In addition to the monthly sponsorship donation, sponsors may send donations for birthdays and/or holidays. Unbound states that donations for birthdays and/or holidays are voluntary and that the full amount of these monies are pooled and divided equally for the benefit of all sponsored children and aging. Unbound does not allow sending material gifts due to customs and duty issues, but sponsors are strongly encouraged to write letters to their sponsee.
Unbound does not allow a child or aging person to be assigned to more than one sponsor, nor do they sponsor children who are already sponsored by another organization.
Unbound reports that it provides personal attention and direct benefits to children, youth, elderly and their families so they may live with dignity, achieve their desired potential and participate fully in society. Grounded in the Gospel call to serve the poor, the organization reports that it is a lay Catholic organization that works with persons of all faith traditions. Unbound's sponsorship program works to help children, youth, elders and families in Latin America, Asia and Africa overcome poverty by connecting them with individual sponsors and supportive local communities of staff members and families. Sponsored individuals and their families utilize financial assistance and partner with Unbound to make program and benefit decisions to help meet their basic needs and develop their potential over the course of their time in the program, which can sometimes be for 18 years or more. In addition to providing support for basic needs such as education, food, medical care and clothing, the organization helps sponsored individuals create long-term solutions through skills training, livelihood initiatives, microloans and self-help groups. Unbound reports that at in 2019, the organization supported over 310,000 sponsored children, youth and elders and over $3 million in scholarships was given in 2019 to help with tuition, fees, transportation and other related costs to students pursuing secondary, college or vocational education.
For the year ended December 31, 2018, Unbound's program expenses were:
Program services |
$121,140,867 |
Total Program Expenses: |
$121,140,867 |
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Chief Executive
Scott Wasserman, President and Chief Executive Officer
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Compensation*
$266,152
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Chair of the Board
David Herbison
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Chair's Profession / Business Affiliation
Banking and Financial Services
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Board Size
9
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Paid Staff Size
173
*2018 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Internet, Planned giving arrangements, Print advertisements (newspapers, magazines, etc.), Telephone appeals, Radio, Other
Fundraising costs were 4% of related contributions. (Related contributions, which totaled $133,867,369, 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 Unbound's audited financial statements - consolidated for the year ended December 31, 2018.
Source of Funds |
Sponsorships |
$121,856,938 |
Contributions |
$12,010,431 |
Other revenue |
$1,857,164 |
Unrealized losses on investments |
($1,481,759) |
Total Income |
$134,242,774 |
- Programs: 94%
- Fundraising: 3%
- Administrative: 3%
Total Income |
$134,242,774 |
Program expenses |
$121,140,867 |
Fundraising expenses |
$4,471,562 |
Administrative expenses |
$4,460,908 |
Other expenses |
$0 |
Total expenses: |
$130,073,337 |
Income in Excess of Expenses |
$4,169,437 |
Beginning Net Assets |
$52,058,958 |
Other Changes In Net Assets |
$0 |
Ending Net Assets |
$56,228,395 |
Total Liabilities |
$2,181,831 |
Total Assets |
$58,410,226 |