Authored by Eric Graves
In the world of nonprofits, Catholic charities play a significant role. Among them, Catholic Relief Services (CRS) stands out for its extensive global impact and transparent operations. As an auditor at Tanner LLC with a keen interest in nonprofits and philanthropy, I was excited to explore this charity and learn about its journey.
History
Founded in 1943 as War Relief Services, CRS initially focused on aiding refugees affected by the ravages of World War II. Established by U.S. Catholic Bishops, this organization was a response to the global need for humanitarian aid. In the 1950s, the organization expanded its scope and rebranded as Catholic Relief Services, setting the stage for its global outreach.
Impact
Today, CRS operates in over 100 countries, providing both emergency relief and long-term development services. Its work spans various sectors, including healthcare, education, and poverty alleviation, addressing the immediate and long-term needs of communities worldwide.
Recognition and Financial Accountability
CRS’s commitment to transparency and efficiency is commendable. In 2023, it received the Platinum Transparency Award from Candid by GuideStar and met the 20/20 Standard for Charity Accountability with the BBB Wise Giving Alliance. Charity Watch awarded CRS an A+ grade in 2022. Remarkably, CRS spends only about $8 to generate every $100 in donations, showcasing its financial efficiency.
Financial Insights
Though CRS, as a religious institution, is exempt from filing Form 990, it voluntarily submits a pro forma Form 990 annually in the spirit of transparency. According to its most recent audited financial statements, CRS has total assets of approximately $831 million and revenue of about $1.5 billion. About three-quarters of its funding comes from public institutions, showing CRS is a trusted partner to governments. Notably, 94% of its expenses directly support its main programs, with about half allocated to emergency relief and half dedicated to long-term development solutions.
Celebrating 75 Years of Impact
Marking its 75th anniversary, CRS launched an interactive website to showcase its vast impact. This initiative reflects CRS’s dedication to celebrating and sharing its journey and achievements with the world.
As someone deeply involved in the nonprofit sector, I find CRS to be an impressive organization. Their dedication to humanitarian aid, coupled with financial transparency and efficiency, sets a high standard for nonprofits worldwide.