Eco-Soap Bank does not meet the following 3 Standards for Charity Accountability:
Standard 11 (Financial Statements)
Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $500,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $500,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.
Eco-Soap Bank does not meet this Standard because:
- Although the organization received $1,270,911 in total revenue for the year ended December 31, 2020, Eco-Soap Bank states that it does not have audited financial statements.
Standard 17 (Web Site Disclosures)
Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.
Eco-Soap Bank does not meet this Standard because the organization’s website, https://ecosoapbank.org/, does not include all of the recommended information for those charity websites that solicit for donations. Specifically, it does not include:
- Total program expenses.
- Total fundraising expenses.
- Total administrative expenses.
Standard 18 (Privacy for Written Appeals & Internet Privacy)
Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.
Eco-Soap Bank does not meet this Standard because the privacy policy on the organization's website, https://ecosoapbank.org/, does not indicate:
- What security measures are in place to protect personal information that is collected.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability:
8
9
13
Eco-Soap Bank meets the remaining 14 Standards for Charity Accountability.
Eco-Soap Bank reports that it creates and delivers cost-effective soap and hygiene education to children in schools, health clinics, hospitals, and communities across ten countries in Africa and Asia. The organization works with economically disadvantaged women to start and operate soap-recycling initiatives. The women collect, sanitize, and recycle the partially used soap bars from hotels and factory waste. In 2021, Eco-Soap Bank states that it employed 154 local women and recycled 1,460,000 pounds of soap.
For the year ended December 31, 2020, Eco-Soap Bank's program expenses were:
| Program services |
$581,599 |
| Total Program Expenses: |
$581,599 |
-
Chief Executive
Samir Lakhani, Founder and Executive Director
-
Compensation*
$35,000
-
Chair of the Board
Jeffrey Hamidi
-
Chair's Profession / Business Affiliation
IT Manager, HM Health Solutions
-
Board Size
10
-
Paid Staff Size
2
*2020 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Note: Digital Director, Frank Fusco, is the organization's highest compensated employee receiving $38,658.
Method(s) Used:
Grant proposals, Internet, Membership appeals, Planned giving arrangements, Telephone appeals
Fundraising costs were 1% of related contributions. (Related contributions, which totaled $1,263,146 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 Eco-Soap Bank's IRS Form 990 for the year ended December 31, 2020.
| Source of Funds |
| Contributions |
$851,464 |
| In-kind contributions |
$411,682 |
| Investment income |
$7,765 |
| Total Income |
$1,270,911 |
- Programs: 92%
- Administrative: 6%
- Fundraising: 2%
| Total Income |
$1,270,911 |
| Program expenses |
$581,599 |
| Fundraising expenses |
$14,573 |
| Administrative expenses |
$37,379 |
| Other expenses |
$0 |
| Total expenses: |
$633,551 |
| Income in Excess of Expenses |
$637,360 |
| Beginning Net Assets |
$94,843 |
| Other Changes In Net Assets |
$0 |
| Ending Net Assets |
$732,178 |
| Total Liabilities |
$0 |
| Total Assets |
$732,178 |
Note: According to Eco-Soap Bank's 2020 IRS Form 990, the organization received $411,682 in contributed goods and services.