Xchange Recovery

Charity Navigator Rating: One-Star out of Four Stars (56%)

Xchange Recovery has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and transparency. The organization demonstrates strong practices in areas such as maintaining a majority independent board and reporting program expenses effectively, with an impressive program expense ratio of 84.63%. However, the lack of financial statements and critical governance policies raises red flags about its financial health and operational oversight.

While Xchange Recovery scores well in certain governance aspects, including documenting board meeting minutes and avoiding material diversion of assets, it falls short in several key areas. The organization has received no points for its liabilities to assets ratio, which stands at a concerning 100%. Additionally, the absence of a whistleblower policy, document retention practices, and missing tax forms on its website further detracts from its overall accountability.

Overall, while Xchange Recovery excels in specific governance practices, the significant gaps in financial transparency and policy documentation limit its overall effectiveness and trustworthiness as a nonprofit. Potential donors and supporters may want to consider these factors carefully before contributing to or engaging with the organization.

This AI summary has been generated from information found on Charity Navigator.

Xchange Recovery is a legitimate nonprofit organization registered as a 501(c)(3) entity. Xchange Recovery submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $82,494
Professional Fundraising Fees: $0
Other Salaries and Wages: $339,362

For more financial information, click here