Financial Statement
It is Kosair Charities’ commitment to operate in a manner befitting its founders with the highest integrity for years to come. Ninety cents of every dollar given to Kosair Charities directly supported a child in need. In 2009, the organization’s fundraising and management expenses were only 10 percent.
Every financial gift is precious to Kosair Kids. Kosair Charities undergoes an independent financial audit and is proud to have always met audit standards every year. The clean audit indicates that Kosair Charities’ financial statements accurately represent its financial position in conformity with accepted accounting principles. Additionally, the organization examines internal controls to prevent any type of miscalculation or waste.
For a list of the organizations that receive funding from Kosair Charities and information about the Special Kids program that provides individual assistance, view the 2009-2010 Gifts and Grants Report.
Financial Statement, as of September 2009 audit
Ending Net Assets $135,224,341
AIF© Certification through the Center for Fiduciary Studies
At Kosair Charities, we are very proud of our legacy of helping kids. Not only because we have cared for so many children, but we also exercise thoughtful stewardship of every gift received. To achieve that end, volunteer board members and staff have the opportunity to obtain Accredited Investment Fiduciaries (AIF©) Certification. Currently, three Kosair Charities Board members and two senior staff members are certified. Kosair Charities has more certified AIF© directors than any other non-profit in the region.
The certification requires ongoing education encompassing a unique, comprehensive overview of fiduciary standards of excellence, asset allocation, investment policy statement preparation, manager search and due diligence, performance measurement, and other related subjects. Those that are certified are trained to adhere to specific spending and giving policies. This ensures that the treasures provided to help our Kosair Kids are managed correctly, and that we can continue providing the same care for generations to come.