World Help posts statement on revision of their 2011 and 2010 financial information

Last evening, World Help posted a statement on the revisions made this week to their 990 and audited financial statements.  You can find the statement here.

The statement asserts that responsibility belongs to a contract fundraiser:

As best we have been able to determine, the value of the medications was misrepresented to World Help by {a named contractor}, whom World Help had retained to assist it in obtaining gifts-in-kind.

The statement indicates the organization realized the overstatement on November 9, 2012.  The statement describes the steps taken since then:

Upon confirming the over-valuation, and consistent with its commitment to financial transparency and compliance with applicable legal requirements, World Help worked with its independent auditor to revise its financial statements and prepare and file an amended Form 990 for 2011, to reflect the reduced value of the medications.

Those steps are mentioned in my earlier posts:

One Response to World Help posts statement on revision of their 2011 and 2010 financial information

  1. […] more background, my previous posts here, here, here, here, and […]

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