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Statement On Revised Financials

Statement on Revised Financials

 

Since 1991, World Help’s goal has been to help people in need around the world. Its core values include valuing integrity and always doing what is right. Today, World Help works in 30 countries through child advocacy, church planting, Bible distribution, clean-water projects, and humanitarian aid.

In 2008, World Help retained an independent consultant to obtain gifts in kind that could be used to help meet the needs of people in impoverished communities. In mid-October 2012, World Help became aware of inappropriate action by that consultant and terminated its agreement with him.

In November 2012, World Help learned that the values attributed to certain goods it received for distribution were overstated by this consultant. In addition, after conducting an internal investigation, World Help also discovered that, with respect to many transactions, the ownership and/or value of the goods was misrepresented.

Upon confirming the facts, and consistent with its commitment to financial transparency and compliance with applicable legal requirements, World Help revised its financial statements and IRS Forms 990 for the years impacted. All of World Help’s financial statements have been issued  appropriately and accurately.

World Help has notified all charities involved with these shipments, as well as two standard-setting organizations of which it is a member—the Evangelical Council for Financial Accountability (ECFA), which accredits Christian ministries that satisfy its Seven Standards of Responsible Stewardship; and the ACCORD Network, which has established standards for the use and reporting of gifts in kind.

World Help has also put in place safeguards to ensure these issues will not reoccur. They include strict  adherence to ACCORD’s standards, ensuring ownership of all shipments, ensuring proper valuation of all gifts in kind received, and internalizing all paperwork, shipment tracking, and record keeping.

In June of 2013, World Help received a letter of commendation from the ECFA citing full compliance with their standards. A copy of this letter along with World Help’s 2012 financial statements and Form 990 are posted on World Help’s website.

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