Unbound meets the 20 Standards for Charity Accountability.
Child and Elder Sponsorship
Unbound reports that its sponsorship program costs $40 per month to cover basic needs and help achieve long-term self-sufficiency through its training and educational programs. Sponsored individuals and families partner with local Unbound teams to identify specific challenges, set goals, create budgets, and use their sponsored benefits. Participating families may use their financial assistance towards education, assistance with basic needs, and leadership and economic development programs, which include youth programs, financial literacy, and skills development for parents. Sponsors may communicate with their sponsored child, youth or elder through letters and may travel to meet their sponsored child or elder.
Unbound reports that it partners with families living in poverty, empowering them to become self-sufficient and achieve their potential. The organization's sponsorship program operates in 19 countries to provide children, youth, and elders to with the resources they need and support networks in place. Unbound offers scholarships to students that help cover tuition, books, fees, and transportation costs. The organization also supplies emergency funding to address needs such as housing repairs, nutrition and assistance, rescue equipment, and medical support. In 2020, Unbound states that it sponsored 288,867 individuals.
For the year ended December 31, 2020, Unbound's program expenses were:
Program services |
$123,811,020 |
Total Program Expenses: |
$123,811,020 |
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Chief Executive
Scott Wasserman, President and Chief Executive Officer
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Compensation*
$286,213
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Chair of the Board
David Herbison
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Chair's Profession / Business Affiliation
Banking and Financial Services
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Board Size
8
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Paid Staff Size
132
*2020 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Membership appeals, Planned giving arrangements, Print advertisements (newspapers, magazines, etc.), Telephone appeals, Radio, Television, Other
Fundraising costs were 4% of related contributions. (Related contributions, which totaled $139,403,527 are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Unbound's audited financial statements - consolidated for the year ended December 31, 2020.
Source of Funds |
Sponsorships |
$124,565,165 |
Contributions |
$14,838,362 |
Other income |
$2,028,855 |
Unrealized gains on investments |
$770,964 |
Total Income |
$142,203,346 |
- Programs: 93%
- Fundraising: 4%
- Administrative: 3%
Total Income |
$142,203,346 |
Program expenses |
$123,811,020 |
Fundraising expenses |
$5,348,385 |
Administrative expenses |
$4,525,212 |
Other expenses |
$0 |
Total expenses: |
$133,684,617 |
Income in Excess of Expenses |
$8,518,729 |
Beginning Net Assets |
$64,280,282 |
Other Changes In Net Assets |
$818 |
Ending Net Assets |
$72,799,829 |
Total Liabilities |
$5,297,713 |
Total Assets |
$78,097,542 |
Note 1: As noted in the above financial section, "other changes in net assets" refers to unrealized gains on foreign currency exchanges.
Note 2: According to Unbound's audited financial statements - consolidated - for the year ended December 31, 2020, the organization received $200,900 in contributed services.