Transparency is a top priority to UWFK! Here are the answers to some of our most commonly asked questions.
How much money did you raise last year?
o In 2015, we raised $386,979 in the community. We spend $265,261 on programming to benefit the community.
o This includes $161,833 in grants and other assistance to 13 nonprofits serving working families throughout the Keys, and funding for direct service work we do in the community.
o To see all of the details of our financials, including our 990 filed with the IRS, please visit our webpage at http://www.keysunitedway.org/financials.
o We are a “Gold Level” Guidestar Exchange Participant, indicating we have demonstrated the highest level of financial accountability. We are also have financial information listed with Charity Navigator, however we are not eligible to be rated by Charity Navigator because we do not have $1 million in revenue.
· What is your “overhead” rate?
o Our “overhead” rate is 32%. This is higher than we would like it to be; however much of our expenses come from cost of trying to truly be a county-wide organization. Additionally, our overhead rate has been steadily declining each year-- several years ago, it was as high as 39%. Our "administrative ratio" on our most recent 990 was 19.05%, down from 28.35% the year before.
· Why is that so high?
o The cost of doing business in a unique county like Monroe is high, and despite every effort to keep expenses low they do take some of the funds we raise. They include things like rent, phone bill, Internet, mileage for driving through the county, equipment, copies, and other “costs of doing business.”
o We only have two full-time paid staff people, our CEO and our Director of Operations, who do their work with the assistance of two part-time paid staff, and an enthusiastic and dedicated volunteer Board of Directors.
o One of our benefits to the community is the “leverage” our nonprofit partners are able to make with the dollars we invest in them, some drawing down as much as $16 from state and federal government grants and programs for every dollar invested by UWFK.
· What kind of dues do you pay?
o While we are an independent, local nonprofit 501(c)3 organization serving families in Monroe County, we do pay a small amount each year to maintain our status as members of the United Way family. We pay $1000 to be a member in good standing of the United Ways of Florida, and $5000 per year to be members of United Way Worldwide.
o These dues give us access to learning opportunities, credits (dollars!) for Professional Development for our Board and Staff, access to workplaces for campaign purposes, deep discounts with national vendors for a variety of services, and opportunities to apply for exclusive grants bring more resources and services to the people of Monroe County.
· I saw something online that said your CEO makes over a million dollars per year! Is this true?
o The CEO of United Way of the Florida Keys, Kate Bauer-Jones, makes $77,000 per year. All salaries and dollars paid out in the community are available for the public to see on our IRS 990 report, posted on our website at http://www.keysunitedway.org/financials.
o We are a member in good standing with United Way Worldwide, whose CEO Brian Gallagher makes a salary of $532,552. United Ways across the US network have an average administrative/ overhead rate of 13.8%, which is one of the best among the nation’s top 100 nonprofits.
o For answers to questions about pay, overhead rates, and many other issues from United Way Worldwide, please visit https://www.unitedway.org/contact-us/faqs.