Introduction. The Big Cat Rescue Is A 501©3 Nonprofit Organization

1268 WordsApr 25, 20176 Pages
Introduction The Big Cat Rescue is a 501©3 nonprofit organization based in Tampa, Florida. BCR is an “accredited sanctuary for abused and abandoned big cats” although the Florida Wildlife Commission won’t classify BCR as a sanctuary because it participates in commercial activities and has an exhibition/sale permit. Their founder, Carole Baskin purports to operate BCR as a “lean, mean, cat protecting machine”. BCR 2016 Revenue and Expenses The Big Cat Rescue (BCR) has earned a 4-star rating from the nonprofit watchdog group, Charity Navigator each year for the past 5 years. “The Independent Charities of America has certified Big Cat Rescue as one of the Best in America Charities every year since 2008” and GreatNonprofits has named Big…show more content…
Big Cat Rescue’s audited financial statements and IRS Form990 filings report revenue and expenses from 2012 through 2015 as: [Source: BigCatRescue.org/about/finances, 2017] Total expenses in 2015 represented 79.21 % of total revenue as compared with 67.93% for 2014 and dropped tto 76.05% in 2016. BCR revenues reflect a variety of sources. Total revenue for 2015 depicted in a graphica format: BCR’s total expenses for 2015 of $2,862,101 can be divided into 3 categories: program expenses, management & general (operational expenses), and fundraising expenses and depicted in a graphical format as: FASB SFAS 117 Compliance Guidance for financial statements for nonprofit organizations is provided by FASB Statement of Financial Accounting Standard 117 (FASB117). The goal of FASB117 was to “enhance the relevance, understandability, and comparability of financial statements” and “requires that those financial statements provide certain basic information that focuses on the entity as a whole and meets the common needs of external users of those statements” (FASB, 1993). FASB117 is considered important because it mandates functional reporting of expenses by nonprofit organizations. FASB117 requires a nonprofit organization to prepare 3 financial statements: a Statement of Financial Position, a Statements of Activities, and a Statement of Cash Flows. In the Statement of Financial Position, the nonprofit must categorize net assets as unrestricted, temporarily restricted

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