Charity plans to revise GIK revenue in 990s by about $200M

January 14, 2013, 10:09 pm

After a break for the holidays, valuation of GIKs are back in the news.

William P. Barrett reports in Forbes that a Charity Eyes Quarter-Billion-Dollar Write-Down in Value Of Goods Handled.

He indicates the president of Operations Compassion has said they are reviewing their 990s for the last 4 years and expect to reduce the recorded amounts of GIKs.

The estimate of the write-down is between $200 million and $250 million.

Read the rest of this entry »