
Charity Navigator, a Web-based, independent evaluator of charities, has given CFCA its highest rating for the seventh consecutive evaluation. Less than 1% of the charities that Charity Navigator has rated have received at least seven consecutive 4-star evaluations, according to Charity Navigator in its April 30, 2008, announcement.
The consistency in CFCA's ratings is extraordinary, given the economic challenges facing charities in general.
"This ‘exceptional’ designation from Charity Navigator differentiates Christian Foundation for Children and Aging from its peers and demonstrates to the public it is worthy of their trust," wrote Michael Smith, Charity Navigator's chief operating officer. The rating indicates “that Christian Foundation for Children and Aging outperforms most charities in America in its efforts to operate in the most fiscally responsible way possible.”
Founded in 2001, Charity Navigator works to create a more efficient and responsive philanthropic marketplace by evaluating the financial health of more than 5,000 of America's largest charities. More than 4 million donors used the site to evaluate charities in the last year alone.
The online resource for donors bases its evaluations on financial data charities provide in annual IRS filings. The information is used to analyze financial performance in categories such as program expenses, administration expenses, fund-raising expenses and operating efficiency.
For more information on CFCA's 4-star rating, please visit the Charity Navigator Web site.
CFCA has met the stringent standards established by the BBB Wise Giving Alliance, an organization formed by the merger of the National Charities Information Bureau and the Council of Better Business Bureaus’ Foundation and its Philanthropic Advisory Service.
The standards were developed “to assist donors in making sound giving decisions and to foster public confidence in charitable organizations.”
Meeting the standards means CFCA may display the BBB Charity Seal emblem signifying a commitment to accountability and ethical practices. In a statement, the Alliance said the evaluation process is demanding:
“It involves rigorous scrutiny of a charity’s governance, effectiveness, finances and solicitations, and informational materials. The standards go beyond what government regulators require.”
The Alliance evaluated CFCA in fall 2006 and required the organization to submit more than 100 pages of requested documentation for review, including audited financial statements, the IRS Form 990 and its annual Stewardship Report. The review covered CFCA operations in 20 different areas.
Read more about the BBB Wise Giving Alliance and its standards for charity accountability.
View the BBB Wise Giving Alliance's charity report on CFCA.
|