EMAIL DETAILS

I think more detail, as you suggest, is the best way forward. We have nothing to hide and a brief overview may raise more questions than a detailed budget. We will send revised docs to you tomorrow.

From: Samuel Berger [mailto:sberger@albrightstonebridge.com]
Sent: Wednesday, November 12, 2014 5:48 PM
To: Rick Leach; hbiden@rosemontseneca.com; Bonnie Raquet; Randy Russell; Glickman, Dan (Dan.Glickman@aspeninstitute.org)
Subject: RE: Grant/Finance Information

I think you can consolidate some items where you’d rather they not see the details. Different organizations present different degrees of details in their financials. But something that looks like a real budget.

From: Rick Leach [mailto:RLeach@wfpusa.org]
Sent: Wednesday, November 12, 2014 5:43 PM
To: Samuel Berger; hbiden@rosemontseneca.com<mailto:hbiden@rosemontseneca.com>; Bonnie Raquet; Randy Russell; Glickman, Dan (Dan.Glickman@aspeninstitute.org<mailto:Dan.Glickman@aspeninstitute.org>)
Subject: RE: Grant/Finance Information

We can easily provide our entire budget with all line items. My only concern about providing all of this information is opening the door to debate/discussion on items within the budget. But, I do not feel strongly and am open to providing all data.

From: Samuel Berger [mailto:sberger@albrightstonebridge.com]
Sent: Wednesday, November 12, 2014 5:37 PM
To: Rick Leach; hbiden@rosemontseneca.com<mailto:hbiden@rosemontseneca.com>; Bonnie Raquet; Randy Russell; Glickman, Dan (Dan.Glickman@aspeninstitute.org<mailto:Dan.Glickman@aspeninstitute.org>)
Subject: RE: Grant/Finance Information

Somewhat disappointed in what you’ve provided on finances – gross statement of expenses. Would not meet my expectation of full “financial transparency”

Is there some reason why you don’t want to give WFP more detailed accounting?

From: Rick Leach [mailto:RLeach@wfpusa.org]
Sent: Wednesday, November 12, 2014 4:57 PM
To: Samuel Berger; hbiden@rosemontseneca.com<mailto:hbiden@rosemontseneca.com>; Bonnie Raquet; Randy Russell; Glickman, Dan (Dan.Glickman@aspeninstitute.org<mailto:Dan.Glickman@aspeninstitute.org>)
Subject: Grant/Finance Information

Sandy – per our conversation, attached is a breakdown of WFP USA grants over the last three years (indicating that over 99% of our grants are provided to WFP). An overview of our expenses is also included. A few points that you may want to note:

• We expect 2014 grants to WFP to exceed donations provided in 2013.

• The Board of Directors reviews/approves our annual budget. The Audit and Executive Committees regularly reviews expenditures and the overall budget status. These activities are consistent with the Board’s fiduciary duties.

• The “other operational expenses” line includes a range of costs: web/IT services, office supplies/equipment, content production (video/PSAs), legal/accounting, events/meetings, travel, direct mail, external audit, merchant fees, etc.

Please let me know if you have any questions or need additional information. Thanks again for all of your help.
All the best,
Rick


From: Tim Hawkins [mailto:thawkins@ltbd.com]
Sent: Wednesday, November 12, 2014 4:29 PM
To: Rick Leach; Jenn Johnson
Cc: Shannon Hiskey
Subject: RE: Docs

Here you go, this should be it.

Tim R. Hawkins, CPA
President

LTBD, PC
1577 Spring Hill Rd
Suite 260
Vienna, Virginia 22182
571.263.1344 mobile
703.738.6599 x202 office
703.738.9248 efax

www.ltbd.com<http://www.ltbd.com/>
tim.hawkins@ltbd.com<mailto:tim.hawkins@ltbd.com>